11 October 2022
Riber’s order book up 76% year-on-year to €30.6m at end-June
For first-half 2022, Riber S.A. of Bezons, France – which manufactures molecular beam epitaxy (MBE) systems as well as evaporation sources and effusion cells – has reported revenue of €9.2m, slightly below the €9.3m a year previously.
“Customer demand remained very strong, as evidenced by the large number of orders recorded since the start of the financial year, with 13 systems ordered in nine months and an option for four additional systems,” says Riber. “However, the constraints in the electronic component supply chain led to system assembly delays and prevented further deliveries over the period.”
Nevertheless, MBE system revenue was €2.9m, up 5% from about €2.8m in first-half 2021. Revenues for Services & Accessories was €6.3m, down 3% from €6.5m.
Gross margin was 30.9%, up from 27.5% in first-half 2021, due to the change in product mix.
Operating expenditure rose by €0.5m due to sustained R&D investments (up 14% to €1.8m) and the increase in sales & marketing costs in the context of rising order intake (up 15%), while administrative costs are stable overall.
Loss from ordinary operations has risen from €1.9m (21% of revenue) to €2.1m (23% of revenue). However, net loss has been cut from €1.8m (19.3% of revenue) to €1.6m (17% of revenue). This includes €0.6m of financial income and expenses, linked primarily to the evolution of the €/US parity.
The cash position at end-June 2022 was positive at €7.7m, up €1.8m from the end of 2021.
During first-half 2022, new order intake improved significantly, comprising four production systems and five research systems, while maintaining growth in Services & Accessories.
This recovery further strengthened the order book at the end of June to €30.6m, up 76% from €17.4m in a year previously.
Specifically, the Services & Accessories order book rose by 10% from €6.9m to €7.6m, confirming the positive trend in MBE research and production activities.
The Systems order book more than doubled (up by 119%) from €10.5m to €23m. This included 11 machines: four production systems (versus just one in 2021) and seven research systems (versus four in 2021).
Also, this does not include (1) orders announced in July and August for two Compact 21 research systems, one MBE6000 production system and one MBE49 production system, as well as (2) the option to buy announced on 8 June covering four MBE6000 production machines (for which firm orders will be confirmed when the export license is obtained in 2023).
Riber says that, in a still buoyant market environment, with strong demand for its systems, it expects to continue taking orders through 2022.
Faced with supply chain constraints, to reduce the shortage of electronic boxes (which are crucial components for its MBE machines to operate), Riber has diversified its sourcing capacity with its supplier partners. However, supply chain delays will likely cause system deliveries to be postponed to 2023.
Also, the significant increase in energy costs will have a very limited impact on the company's activity due to the low energy consumption in the company's production processes.
Riber says that, over the longer term, it is moving forward with a project for profitable growth based on its technological and industrial know-how, as well as its capacity for innovation. Driven by new information technologies, it is rolling out a strategy focused on further strengthening its position in MBE, achieving regular growth in its service activities, and maintaining a robust level of R&D investment to expand its portfolio of technologies and applications.