Riber shows better half-year earnings
French semiconductor equipment firm Riber has announced that revenues for the first half of 2016 climbed 21 percent from the first half of 2015 to â‚¬6.9 million, with growth driven by all its product lines.
The gross margin came to â‚¬2.5 million, representing 37 percent of revenues, up from 9 percent for the first half of 2015.
According to Riber, this growth reflects the increase in sales and the stronger absorption of fixed production costs. In light of the improved business outlook, â‚¬0.6 million of provisions for inventories have also been reversed.
Riber has reduced its operating expenditure by 10 percent from the previous year, following on from the savings plans rolled out. However, the company has continued to invest, ramping up its R&D with a view to developing its range of products and services for its customers.
In this context, consolidated net income shows a significant improvement from the previous year, with a loss of -â‚¬1.2 million, versus -â‚¬3.5 million for the first half of 2015.
Cash, net of financial debt, shows a positive figure of â‚¬0.8 million at June 30, 2016, an improvement compared with December 31, 2015 (+â‚¬0.7 million). In particular, this factors in the sale of non-strategic real estate assets for â‚¬2.6 million at the end of the first half of 2016.
As announced on July 12, the order book (â‚¬8.8 million at June 30, 2016) is up 40 percent from June 30, 2015, with five MBE systems (including one production machine) for delivery in 2016 and strong growth in sales of components and services.
This turnaround is expected to be further strengthened between now and the end of the year. This dynamic growth is being supported by the sustained development of the range of services and accessories offered and the concrete progress made with coming major contracts, according to the company.
Under these circumstances, Riber is confirming its 2016 revenue target with growth of over 30 percent, paving the way for a improvement in net income compared with 2015.