Riber returns to profitability
Best first half year results since 2011
Semiconductor equipment firm Riber is releasing its earnings for the first half of 2017 and its outlook for the full year, announcing a return to profitability.
Revenues for the first half of 2017 climbed 80 percent 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.
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 percent to €5.8 million and from 37 percent to 46 percent 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 percent of revenues, versus -16.2 percent for the first half of 2016. After factoring in €0.8 million of non-recurring 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 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 developmen
Progress with the order book
The order book at June 30, 2017 is up 92 percent 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.
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.
