26 September 2016

Riber slashes losses in first-half 2016, driven by 29% growth in MBE system revenue

For first-half 2016, Riber S.A. of Bezons, France, which manufactures molecular beam epitaxy (MBE) systems as well as evaporation sources and effusion cells, has confirmed revenue of €6.9m, up 21% on first-half 2015's €5.7m. Growth was driven by all product lines, with MBE systems sales up 29% from €2.8m to €3.6m, sales of services & accessories up 14% from €2.1m to €2.4m, and sales of cells & sources up 25% from €0.8m to €1m.

In addition, reflecting the increased sales and the stronger absorption of fixed production costs, Riber has now reported gross margin up from 9% in first-half 2015 to 37% in first-half 2016.

Following the roll-out of its savings plan, Riber has cut operating expenditure by 10% year-on-year. Hence, despite continuing to invest (ramping up R&D with a view to developing its range of products and services), net loss has been cut significantly from -€3.5m to -€1.2m.

During first-half 2016, cash (net of financial debt) has improved from €0.7m to €0.8m (factoring in the sale of non-strategic real-estate assets for €2.6m at the end of first-half 2016). Furthermore, a capital increase undertaken in August raised €1.4m. Also, the delivery schedule for the end of the year should further strengthen the cash position.

As announced on 12 July, orders rose by 40% from €6.3m in first-half 2015 to €8.8m in first-half 2016, comprising five MBE systems (including one production machine) for delivery in 2016 supplemented by strong growth in sales of components and services.

Riber notes that the turnaround is expected to be further strengthened between now and the end of the year. Growth is being supported by sustained development of its range of services and accessories plus concrete progress made with upcoming major contracts.

Riber is hence confirming its full-year 2016 revenue target of growth of more than 30%, paving the way for improved net income compared with 2015.

See related items:

Riber's first-half revenue rises 23% year-on-year, driven by MBE system sales

Riber's Q1 revenue almost halves year-on-year

Riber to sell part of facility after losses grow in 2015

Riber's annual revenue falls 23% to €12.8m in 2015

Riber reports first-half revenue up 18% year-on-year to €5.7m

Riber acquires MBE Control Solutions

Tags: Riber MBE

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