Riber: First-half Year Earnings
Revenues for the first half of 2019 came to €13.9m, down 17 percent from the first half of 2018
French semiconductor equipment firm Riber has released its earnings for the first half of 2019 and its outlook for the full year.
Revenues for the first half of 2019 came to €13.9m, down 17 percent from the first half of 2018. But systems revenues were up 132 percent, reflecting the strengthening of Riber's commercial positions in the industrial sector, with four production machines delivered during the first half of 2019.
The services and accessories business recorded growth in line with the strategy to develop this activity. Revenues from evaporators are down temporarily following the major investments made in previous years, according to the company.
The gross margin came to €4.1m, representing 29.5 percent of revenues, compared with 48.8 percent for the first half of 2018. Its change over the first half of the year is linked to the contraction in revenues versus the first half of 2018, as well as a product mix that is currently less favorable.
Income from ordinary operations totalled €(0.5)m, down €3.3m from the first half of 2018. Net income represents €(0.4)m, compared with €2.4m for the first half of 2018. Net cash at end-June 2019 represents €2.5m, stable compared with December 31, 2018.
On the balance sheet, shareholders' equity at June 30, 2019 represents €17.6m, compared with €19.2m at December 31, 2018. This change is linked primarily to first-half earnings and the recognition of the distribution of amounts drawn against the issue premium to shareholders for 2018, paid out in July and September 2019.
The order book at June 30, 2019 remained high at €28.4m. It confirms the positive market environment for the production MBE business, with a systems order book of €21.5m, consistent with the previous year's figure of €22.2m and comprising 13 systems, including six production units. The order book for services and accessories has continued to be satisfactory, with €6.9m. These order book figures do not include the order placed in September 2019 for an MBE 6000 production system in Asia.
In view of these elements, Riber says it is able to confirm its full-year forecast for revenue growth and improved operational profitability compared with 2018.
"In a buoyant environment driven by information technology innovations over the coming years, Riber is moving forward with its development, consolidating its market shares, expanding its portfolio of technologies and clients, and supporting the development of its service activities."