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Riber half yearly revenues plunge 17 percent

The firm received many of its orders from Research laboratories
Riber, a manufacturer of MBE reactors used in the growth of III-V semiconductors, has released its earnings for the first half of 2013.


Factoring in the change in revenues, the half-year gross margin was €2.2 million on June 30th, 2013 as compared to €2.8 million on June 30th, 2012, representing 28 percent of revenues. Provisioning for inventories led to a net charge of €0.2 million, identical to the half year ended June 30th, 2012.

Operating expenses were stable but consolidated net income showed a loss of €2.0 million, as compared to a loss of 1.0 million on June 30th, 2012. The strong seasonality of production plan (focused in 2013 at the end of the year) has an adverse effect on half-yearly earnings

In the first half of 2013, the firm concentrated its business on R&D markets. Marked by the slowdown in demand from industrial customers, revenues totalled €7.8 million for the first half of 2013.

During the first half of the year, five MBE machines were delivered, compared with six one year previously (including a production machine).

Sales of services and accessories were up 14 percent, driven by the sales action plan rolled out since 2012. They reflect the development of sales to research laboratories, offsetting the slowdown in supplies of services to industrial customers.

The evaporation sources and cells business were affected by the current lack of investments in the production of OLED flat screens or thin-film solar cells. Nevertheless, Riber is maintaining a major research effort on these high potential markets.

The company currently has a capital of €3,091,349.

The cash position represented €4.1 million on June 30th, 2013, down €1.2 million compared with December 2012. Cash flow from operations was unable to cover the investments and innovation drive during the first half of the year, as well as the payment of dividends for 2012. Riber remains free of debt.


At the end of August 2013, the order book represented €13.5 million as compared to €12.1 million at the end of 2012, with 13 research systems to be delivered, mostly in 2013.

In view of the program for deliveries between now and the end of the year, 2013 revenues are expected to reach €24 to 26 million for 2013, enabling Riber to record a profit over the full year.

To further strengthen its commercial positions in Asia, Riber opened a subsidiary in South Korea at the start of September 2013. A representation office in China was set up in 2009.

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