27 July 2011

Riber triples first-half revenue year-on-year to €13m

For second-quarter 2011, 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  €7.2m, compared with €5.7m in Q1/2011 and just €1.5m in Q2/2010. This took first-half 2011 revenue to €13m, tripling (up 198%) from just €4.4m in first-half 2010.

In particular, first-half 2011 revenue from systems was €3.4m, more than tripling from €1.1m a year ago. Three research systems with high unit values were delivered, compared with just two in first-half 2010. Sales of services and accessories are stable, contributing revenue of €2.6m, roughly level with €2.7m a year ago. Business in first-half 2011 was distinguished by sales of evaporation sources and cells of €7m, up more than 13-fold from about €0.5m in first-half 2010 due to delivery of the first significant orders for the rapidly growing organic LED (OLED) and copper indium gallium diselenide (CIGS) thin-film photovoltaic panel markets.

The order book at the end of June was €18m, up 6.4% on €16.9m a year ago. This includes systems orders worth €15.1m (up 12.4% on €13.4m a year ago), comprising six research systems and four production systems (with three to be delivered after 2011). Orders for cells and sources were €1.2m, level on a year ago. However, in addition, a major order was sealed at the beginning of July for OLED production equipment (cells). Orders for services and accessories were €1.7m, down 'temporarily' by 26.8% on €2.3m a year ago, although this does not call into question the business outlook for the year, says Riber.

Riber says that the results are in line with its strategic business model, which is based on the following profitable growth drivers:

• continuing to strengthen its market leadership in MBE systems; 
  
• capitalizing on the installed base and growing sales of epitaxy equipment, spare parts and accessories, as well as corresponding services; and
  
• rolling out a diversification policy, including launching a range of high-value-added equipment (cells and sources) for high-growth applications (thin-film solar panels, OLED lighting and flat-panel displays, etc). 

Full earnings figures for first-half 2011 will be reported on 13 September.

For full-year 2011, Riber is targeting revenue growth of €27–29m, up 35% on 2010, paving the way for strong growth in operating income.

See related items:

Riber’s Q1 revenue doubles year-on-year

Riber reports 2010 revenue up 20% to €20.7m

Riber’s revenue bounces back by 11% in Q3/2010

Riber expects strong H2/2010 to compensate for first half

Tags: Riber MBE

Visit: www.riber.com