News Article
Riber annual sales up 68 percent
The MBE tool specialist still suffered due to a weak market for cells and sources
Riber has released its full-year earnings for 2012.
MBE system sales, were up 68 percent compared with 2011, reflecting the dynamic level of commercial development with compound semiconductor industrial firms and research centres.
Regarding growth, the MBE services and accessories business benefited from work carried out at the end of 2011 to further strengthen the commercial and technical organisation. So sales picked up 9 percent despite the slowdown in demand.
The cells and sources business came in lower following a flourishing 2011, marked by the delivery of major equipment orders for OLED screen production lines in Asia. This market is still buoyant for Riber.
Profitability for the year was affected by the downturn in revenues and the change in the product mix.
This trend was compounded by the year-on-year change concerning the reversal of provisions for inventories (€0.6 million in 2012, versus €1.7 million in 2011).
The gross margin came to €9.1 million (versus €12.4 million in 2011), representing 33.2 percent of revenues.
Consolidated net income totalled €1.9 million (7 percent of revenues), compared with €4.3 million in 2011 (14.8 percent of revenues).
Cash represented €5.3 million on December 31st, 2012, down €6.8 million in relation to December 31st, 2011, factoring in the impact of the seasonality of deliveries on working capital requirements, in addition to the dividend paid out for 2011, the increase in investments and the significant ramping up of research and innovation efforts.
PROPOSED DIVIDEND OF €0.04 PER SHARE
The Management Board will be submitting a proposal at the General Meeting on May 31st, 2013 for a dividend of €0.04 per share.
As recommended by the Management Board, and in order to support Riber’s growth strategy, the Supervisory Board decided to co-opt new Supervisory Board members on April 3rd, 2013. These were Dominique Pons, director at GIE III-V Lab, the joint Thales, Alcatel-Lucent and CEA-Leti industrial research laboratory for III-V semiconductors and Gildas Sorin, CEO of Novaled, the German firm and world leader for developing and marketing materials for OLED production.
Their co-opting will be submitted for approval at the upcoming general meeting on May 31st, 2013.
OUTLOOK
The order book represented €15.5 million at the end of February 2013 (€12.1 million at end-2012), confirming the good level of the market for MBE research systems on which Riber is well positioned, with orders for 13 machines to be delivered in 2013.
Riber designs and produces molecular beam epitaxy (MBE) systems as well as evaporation sources and recorded €27.4 million in revenues in 2012 and employs 111 people. The company is ISO9001 certified.
MBE system sales, were up 68 percent compared with 2011, reflecting the dynamic level of commercial development with compound semiconductor industrial firms and research centres.
Regarding growth, the MBE services and accessories business benefited from work carried out at the end of 2011 to further strengthen the commercial and technical organisation. So sales picked up 9 percent despite the slowdown in demand.
The cells and sources business came in lower following a flourishing 2011, marked by the delivery of major equipment orders for OLED screen production lines in Asia. This market is still buoyant for Riber.
Profitability for the year was affected by the downturn in revenues and the change in the product mix.
This trend was compounded by the year-on-year change concerning the reversal of provisions for inventories (€0.6 million in 2012, versus €1.7 million in 2011).
The gross margin came to €9.1 million (versus €12.4 million in 2011), representing 33.2 percent of revenues.
Consolidated net income totalled €1.9 million (7 percent of revenues), compared with €4.3 million in 2011 (14.8 percent of revenues).
Cash represented €5.3 million on December 31st, 2012, down €6.8 million in relation to December 31st, 2011, factoring in the impact of the seasonality of deliveries on working capital requirements, in addition to the dividend paid out for 2011, the increase in investments and the significant ramping up of research and innovation efforts.
PROPOSED DIVIDEND OF €0.04 PER SHARE
The Management Board will be submitting a proposal at the General Meeting on May 31st, 2013 for a dividend of €0.04 per share.
As recommended by the Management Board, and in order to support Riber’s growth strategy, the Supervisory Board decided to co-opt new Supervisory Board members on April 3rd, 2013. These were Dominique Pons, director at GIE III-V Lab, the joint Thales, Alcatel-Lucent and CEA-Leti industrial research laboratory for III-V semiconductors and Gildas Sorin, CEO of Novaled, the German firm and world leader for developing and marketing materials for OLED production.
Their co-opting will be submitted for approval at the upcoming general meeting on May 31st, 2013.
OUTLOOK
The order book represented €15.5 million at the end of February 2013 (€12.1 million at end-2012), confirming the good level of the market for MBE research systems on which Riber is well positioned, with orders for 13 machines to be delivered in 2013.
Riber designs and produces molecular beam epitaxy (MBE) systems as well as evaporation sources and recorded €27.4 million in revenues in 2012 and employs 111 people. The company is ISO9001 certified.
