News

26 March 2009

 

Riber returns to operating profit in 2008

After reporting preliminary revenues in mid-January, Riber S.A. of Bezons, France, which manufactures molecular beam epitaxy (MBE) systems as well as evaporation sources and effusion cells, has confirmed healthy revenue growth of 13% from 2007’s €17m to €19.3m in 2008.

An 11% decline in European revenue was offset by strong growth in Asia (up 33%) and the USA (up 175%). Nevertheless, Europe still represented 47% of total revenue, Asia 42%, and the USA 11%.

Growth was driven by sustained MBE system sales to both research centers and device manufacturers (€13.3, up 4.7% on 2007’s €12.7m). This was supplemented by strong organic growth of 39.5% (from €4.3m to €6m) in sales of component and after-sales services for installed machines (technical support, system upgrades, sales of improved cells, etc). This included the take-off of sales of evaporation sources for new applications (e.g. organic LED screens and solar cells).

The acquisition of the MBE operations of VG Semicon in late September is a significant new growth driver for component and services sales, consolidating Riber’s dominant position in the market (with about 60% of all installed machines).

Riber has now also reported that an increase in productivity and cost control led to gross profit rising from €1.07m (just 6.3% of sales) in 2007 to €5.85m (30.4% of sales) in 2008,

Operating income was €0.27m in 2008, compared to 2007’s loss of €6.16m. Net loss also improved from €9.73m to just €1.02m (taking into account non-recurring exceptional expenses of €1.2m).

Demonstrating confidence in its future, at the annual general meeting on 14 May Riber’s management board aims to propose the payment of a first dividend of €0.02 per share, while fully preserving the firm’s development capacity.

Riber comments that, during the highly unstable economic and financial environment at the start of 2009, the market for research center and university-dedicated systems continued to perform well, whereas systems dedicated to compound semiconductor manufacturers provided less visibility. However, component and services sales should continue to expand, in particular following the acquisition of VG Semicon’s operations and the introduction of new products dedicated to OLED screens and solar cells.

See related items:

Riber appoints chairman of executive board

Riber grew 13% in 2008, driven by production MBE reactors

Riber buys OIPT’s MBE business

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