Riber returns to profitability
Company reports significant improvement in operating margins, with gross margin up 125 percent to €13.6 million
Riber, a semiconductor equipment company based in France, is releasing its full-year earnings for 2017. Full-year revenues came to €30.6 million in 2017, up 86 percent from 2016. This progress factors in the strong growth in sales of evaporators (cells and sources) for the screen and photovoltaic industries, as well as the increase in sales of services and accessories.
The gross margin for the year is up 125 percent from 2016 to €13.6 million, with a margin rate representing 44.5 percent of revenues, versus 36.4 percent in 2016, thanks to the very good commercial margins maintained.
EBITDA climbed to €7.2 million in 2017, up €6.4 million year-on-year, with a margin rate representing 23.4 percent of revenues. This performance reflects the effective control over the increase in sales, R&D and administrative costs.
Income from ordinary operations totaled €4.6 million, an improvement of €6.0 million from the previous year, delivering a margin rate of 15.2 percent of revenues, compared with -8.2 percent in 2016.
Operating income is positive, coming in at €3.8 million, compared with a -€1.1 million loss in 2016, after factoring in €0.9 million of non-recurring items. Net income came to €4.1 million, compared with a net loss of -€1.1 million in 2016, benefiting from €1.0 million of tax income linked to the capitalization of losses carried forward.
The increase in funds collected on billing and the advance payments received on orders has contributed to a stronger cash position, up €4.9 million from December 31, 2016 to €7.4 million at December 31, 2017.
On the balance sheet, shareholders' equity is up €4.3 million from 2016 to €19.8 million. The company therefore has the financial resources needed to finance its development.
Outlook for 2018
In view of the order book, which total;ed €25,8 million at end-2017, and the orders received since the start of this year, Riber is targeting year-on-year revenue growth of at least 15 percent for 2018.
The Executive Board will be submitting a proposal for approval at the General Meeting on June 21, 2018 for a dividend of €0.05 per share, deducted from the share premium account. This dividend would be released for payment on June 28, 2018.
2018 first-quarter revenues will be released on April 26 (after close of trading).
