RIBER confirms its return to profitability in the first half of 2017

• Best first half since 2011
• Turnaround ramped up with very strong progress on margins
• Stronger cash generation
• Outlook for high growth and profitability in 2017

Bezons, September 26, 2017 – 5:45 pm – RIBER, a global market leader for semiconductor industry equipment, is releasing its earnings for the first half of 2017 and its outlook for the full year.

(€m)	H1 2017	H1 2016	Change
Revenues	12,5	7,0	+ 80 %
Systems revenues	0,9	3,6	– 76 %
Services and accessories revenues	2,8	2,4	+ 18 %
Cells and sources revenues	8,8	1,0	+ 821 %
Gross margin % of revenues	5,8 46,2 %	2,5 36,9 %	+ 126 %
Income from ordinary operations % of revenues	1,3 10,6 %	(1,1) (16,2 %)	+ €2,4m
Operating income % of revenues	0,5 4,2 %	(1,1) (15,9 %)	+ €1,6m
Net income % of revenues	0,1 0,6 %	(1,2) (17,4 %)	+ €1,3m

Strong revenue growth

Revenues for the first half of 2017 climbed 80% from the first half of 2016 to €12.5 million. This growth reflects the significant development of sales of evaporators (cells and sources) for the photovoltaic and screen industries, as well as solid progress with sales of services and accessories.

Return to profitability

In line with the sales growth achieved, the positive change in sales margins has enabled the gross margin to increase more quickly than business, up 126% to €5.8 million and from 37% to 46% of revenues.

Income from ordinary operations came to €1.3 million, a year-on-year increase of €2.4 million, with a margin representing 10.6% of revenues, versus -16.2% for the first half of 2016. After factoring in €0.8 million of nonrecurring items, operating income represents €0.5 million, compared with a -€1.1 million loss at June 30, 2016, up €1.6 million.

Consolidated net income is up €1.3 million to €0.1 million, compared with -€1.2 million at June 30, 2016.

Cash position further strengthened

Considering the funds collected on billing and the advance payments received on orders during the first half of this year, cash – net of financial debt – has continued to strengthen, climbing to €4.6 million at June 30, 2017, up €2.1 million from December 31, 2016 and €3.8 million versus June 30, 2016.

With €15.4 million of shareholders’ equity at June 30, 2017, RIBER still has all the capacity needed to finance its development.

Progress with the order book

The order book at June 30, 2017 is up 92% from June 30, 2016 to €16.8 million, with seven MBE systems (including four production machines) and strong growth in sales of components and services.

This dynamic development is expected to continue through to the end of the year, with several contracts moving forward, such as the major orders recorded in the third quarter.

2017 objectives

In view of these elements, RIBER is forecasting full-year revenues of close to €30 million for 2017, with income from ordinary operations of at least €3.0 million.

Next date: 2017 third-quarter revenues on October 23, 2017 after close of trading

Posted on Tuesday, September 26, 2017 - 17:45 pm