Riber posts Q1 results
€2.4m revenues are down 25 percent compared with Q1 2021
MBE firm Riber is reporting its revenues for the first quarter of 2022. Revenues came to €2.4m, down 25 percent compared with the first quarter of 2021.
While no revenues were recorded for MBE systems, this reflects the production cycle for machines that have been ordered for 2022 and is not an indication of the company's performance over the full year, says the company.
Revenues for services and accessories (€2.4m) show a temporary contraction, down 25 percent due to deferred billing for a major order. They are therefore expected to bounce back strongly in the second quarter.
At end-March 2022, the breakdown of the company's revenues was as follows: 50 percent in Europe, 39 percent in Asia and 11 percent in the US.
Order book developments
During the first quarter, the company recorded six orders for MBE systems, confirming the significant upturn in new orders despite the persistent obstacles for granting export licenses for certain contracts in Asia.
At end-March 2022, the order book totaled €22.8m, up 32 percent from end-March 2021. The systems order book is up 74 percent to €16.7m, based on nine machines, with eight to be delivered in 2022. The services and accessories order book is down 20 percent to €6.1m, faced with a high basis for comparison.
Outlook for 2022
The company is forecasting growth in both revenues and profitability for 2022 compared with 2021. Alongside this, the company expects to continue to record new orders during the second quarter of 2022 thanks to a strong pipeline of prospects for both systems and services.
