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Riber 2009 annual results: Return to profitability

– RIBER, the global leader for molecular beam epitaxy (MBE) confirms its return to profitability in 2009 with net income of € 0.4 million, compared to a net loss of € 1.0 million in 2008.

2009 ANNUAL RESULTS: RETURN TO PROFITABILITY

- 4 points increase in gross profit margin
- Net income of € 0.4 million equal to 2.5% of sales
- Net cash position of € 5.6 million, up 85%
- Dividend doubled to € 0.04 per share

Bezons, March 25, 2010 - 5.45 pm - RIBER, the global leader for molecular beam epitaxy (MBE) confirms its return to profitability in 2009 with net income of € 0.4 million, compared to a net loss of € 1.0 million in 2008. In line with expectations, this favorable trend comes hand-in-hand with a significant 85% increase in the net cash position.
 

(€ millions - at 31 December) 2009(UNAUDITED) 2008 Change
Sales 17.4 19.2 (1.8)
Gross profit as % of sales 6.5 6.4 +0.1
Operating income (loss) - EBIT as % of sales 0.6 (0.9) +1.5
Income (loss) before tax  0.4  (0.9) +1.3
Net income (loss)  0.4 (1.0) +1.



GOOD SALES RESILIENCE
2009 sales totaled € 17.4 million, compared to € 19.2 million in 2008. Business was driven by record system sales to research centers, which offset the lack of production systems sales to the semi-conductor industry due to the economic crisis background.
Good sales resilience was compounded by the development of component and services sales and the take-off in sales of evaporation sources dedicated to new applications, OLED cells (Organic LEDs) and thin-layer solar cells (CIGS)

IMPROVED RESULTS
Better trading conditions, increased productivity and tight cost control led to a rise in gross profit to 37.6% of sales, compared to 33.6% the previous year.
Operating income totaled € 0.6 million, compared to a loss of € 0.9 million in 2008.
2009 net income was € 0.4 million, compared to a net loss of € 1.0 million in 2008.

INCREASE IN CASH POSITION
RIBER's financial structure showed an increase in shareholders' equity compared to 2008, to € 21.7 million at December 31, 2009
The net cash position grew by 85% compared to December 31, 2008 to € 5.6 million (after deducting refundable advances).
Due to its sound balance sheet and stronger cash position, RIBER is in a position to implement its strategic expansion with confidence.

PROPOSED PAYMENT OF A DIVIDEND OF € 0.04 PER SHARE
The Executive Board will propose to the Annual General Meeting of May 27, 2010 the payment of a dividend of € 0.04 per share.

GOVERNANCE
The appointment of Jacques Noels as a new member of the Supervisory Board will also be proposed on the occasion of the General Meeting. After serving in top executive positions for companies such as Thomson, Texas Instrument and Nokia, he founded Crocus Technology, a company specialised in MRAM semi-conductors. Bolstered by this experience, Jacques Noels will support Riber in implementing its profitable growth strategy.

OUTLOOK
Due to the structure of the sales order backlog and the launch of new products in the market, RIBER expects a further improvement in profitability in 2010.

SHAREHOLDERS' AGENDA: 1st quarter 2010 sales, April 15, after close of trading.

The 2009 consolidated financial statements were approved by the Executive Board and the Supervisory Board on March 23, 2010. Audits procedures on the consolidated financial statements are ongoing. 
 

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