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News

31 August 2007

 

Riber slipped to operating loss in first-half 2007

MBE reactor maker Riber of Bezons, France has confirmed its first-half 2007 sales results that it reported on 26 July. Revenue was down 67% on €7.3m a year ago (when three machines were sold) to just €2.4m (components and accessories only, due to reactor shipments slipping into second-half 2007).

Order backlog was €11.2m at the end of June (however, this has since risen to €12.6m, for orders billable in second-half 2007). Riber has also confirmed its guidance for full-year 2007 sales of €17-19m.

In addition to the above sales results, for first-half 2007 Riber has now also reported gross profit of €0.2m (a margin of 8% of sales), down on €3.7m (51%) a year ago, due to low sales, a €2m drop in inventory provision reversals, and the impact of non-recurring exceptional expenses. Operating loss was €3.3m (compared to a €0.2m operating profit a year ago).

Nevertheless, cash reserves almost doubled during first-half 2007, from €5.2m to €10.3m, due mainly to the sale of the firm’s previous site in Rueil Malmaison. However, despite expecting a significant increase in gross margin in second-half 2007, the impact of exceptional non-recurring expenses will prevent Riber from showing a profit for full-year 2007.

See related items:

Riber grows sales 19% year-on-year

Rueil-Malmaison plant sale boosts Riber to €10.4 net profit

Visit: http://www.riber.com