Riber posts strong improvement in 2016 earnings
MBE equipment company Riber is releasing its full-year earnings for 2016, showing a strong growth in business.
Full-year revenues for 2016 climbed 29 percent from 2015 to €16.5 million, with growth driven by all product lines and accompanied by a significant upturn on various industrial markets.
The gross margin came to €6.0 million, representing 36.4 percent of revenues, up from 14.9 percent in 2015. This turnaround reflects the improvement in sales margins, benefiting from a better product mix, which has also led to €0.6 million of provisions for inventories being reversed.
Operating income totaled -€1.1 million, following a reduction in operating expenditure to €7.1 million in 2016, down from €8.3 million in 2015, resulting from a positive change in other operating income and expenses, while sales, administrative and R&D costs remain virtually unchanged.
R&D efforts have been maintained to develop RIBER's range of products and services for its customers.
Consolidated net income shows a significant year-on-year improvement, with a loss of -€1.1 million, versus -€6.3 million in 2015.
Cash, net of financial debt, is up to €2.5 million at December 31, 2016, compared with €0.1 million at end-2015. It improved by €1.7 million during the second half of the year, following the capital increase carried out in August 2016 and order down payment received at the end of the year.
In addition, the company repaid all its financial debt for €0.7 million and its shareholders' equity represented €15.5 million at December 31, 2016.
Outlook for 2017
In view of the order book at December 31, 2016, the orders received since the start of the year and the outlook for orders to be delivered in 2017, Riber is confirming its forecast for revenue growth of at least 30 percent compared with 2016.
