News: Suppliers
15 April 2024
Riber’s annual revenue grows 41% to €39.3m, driven by systems revenue almost doubling
For full-year 2023, molecular beam epitaxy (MBE) system maker Riber S.A. of Bezons, France has reported revenue of €39.3m, up 41% on 2022’s €27.8m.
Despite the unstable geopolitical context, Riber achieved its revenue target in 2023, due to significant growth in its MBE system sales.
MBE systems revenue was up 96% from €14.8m to €29m (13 machines delivered, compared with six in 2022).
Services & Accessories revenue was fell by 21% from a high €13m (46.8% of revenue) in 2022 to €10.3m (26.2% of 2023 revenue) in 2023.
Riber says that the growth in its systems sales reflects its leadership on the MBE market, particularly in the production sector, illustrated by its high order intake in 2023, including seven production systems. Although the services & accessories business decreased, the company’s performance shows significant progress, Riber reckons.
Also, Riber moved forward with its innovation efforts, including the launch of the MBE 8000 system, designed specially to meet requirements for the mass production of epiwafers.
Earnings
Gross margin as a proportion of revenue fell from 39.2% to 33.7%, but this was mainly due to the growth in revenue.
Operating income was €3.9m (10% of revenue) in 2023, improving significantly from 2022’s break-even (which included €1.3m of non-current expenses).
Net income rose from just €0.2m in 2022 to €3.4m in 2023. The cash position hence improved during 2023 by €3.6m, from €6.1m to €9.7m.
During 2023, shareholders’ equity rose by €2.4m to €21.2m, driven by the earnings and the distribution of amounts drawn against the issue premium for 2022 to shareholders.
Order book
During 2023, the order book fell by 12% from €29.9m to €26.3m, comprising €20.2m for six MBE systems and €6.1m for Services & Accessories.
However, this does not include the robust new order intake level seen since the start of 2024, with five systems ordered to date. These include a major order for three production systems in Asia (announced on 24 January) as well as two other orders for research systems (announced on 5 and 20 March, respectively).
Outlook for 2024
Given its current orders and the opportunities that will open up for its systems and services & accessories, Riber expects further growth in revenues and earnings for 2024. The firm will provide a full-year revenue forecast at the end of first-half 2024.
Distribution of amounts drawn against the ‘issue premium’ account
Illustrating its confidence in the firm’s outlook, at the general meeting on 19 June the executive board will submit a proposal to shareholders to approve a cash payout based on reimbursing part of the issue premium for €0.07 per share (to be released for payment on 28 June).
Governance
As agreed with Riber’s supervisory board, the executive board also decided to propose the transformation of the company’s governance structure at the General Meeting on 19 June. Subject to this proposal being approved by shareholders, the existing dual structure based on a supervisory board and executive board, will be replaced by an organization with a board of directors.
Riber says that the proposed modification reflects its commitment to simplifying its operational decision-making processes and is in line with its new strategy to support its expansion in a buoyant market environment.
Implementation of share buyback program
As agreed with Riber’s supervisory board, the executive board has decided to implement a share buyback program based on the authorization granted by the twelfth resolution of the shareholders’ general meeting of 20 June 2023. The description of the share buyback program are being published on 15 April before the stock market opens.
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