RIBER returns to a good level of profitability in 2017

  • Significant improvement in operating margins, with EBITDA up to 23.4% of revenues
  • €4.1 million in net income, representing 13.4% of revenues
  • Cash position tripled to €7.4 million

Bezons, April 12, 2018 - 5:45 pm - RIBER, a global market leader for semiconductor industry equipment, is releasing its full-year earnings for 2017.

(€M - at December 31) 2017

 
2016

 
Change
Revenues 30.6 16.5 +86%
 MBE systems revenues 7.2 8.8 -19%
 Services and accessories revenues 7.2 4.6 +56%
 Evaporator revenues (cells and sources) 16.2 3.0 +435%
Gross margin
% of revenues
13.6
44.5%
6.0
36.4%
+125%
EBITDA[1]
% of revenues
7.2
23.4%
0.7
4.4%
+€6.4m
Income from ordinary operations
% of revenues
4.6
15.2%
(1.3)
(8.2%)
+€6.0m
Operating income
% of revenues
3.8
12.4%
(1.1)
(6.7%)
+€4.9m
Net income
% of revenues
4.1
13.4%
(1.1)
(6.7%)
+€5.2m

Sustained growth in business

Full-year revenues came to €30.6 million in 2017, up 86% from 2016. This progress factors in the strong growth in sales of evaporators (cells and sources) for the screen and photovoltaic industries, as well as the increase in sales of services and accessories.

Strong operational performance improvements

The gross margin for the year is up 125% from 2016 to €13.6 million, with a margin rate representing 44.5% of revenues, versus 36.4% in 2016, thanks to the very good commercial margins maintained.

EBITDA climbed to €7.2 million in 2017, up €6.4 million year-on-year, with a margin rate representing 23.4% of revenues. This performance reflects the effective control over the increase in sales, R&D and administrative costs.

Income from ordinary operations totaled €4.6 million, an improvement of €6.0 million from the previous year, delivering a margin rate of 15.2% of revenues, compared with -8.2% in 2016.

Strong progress with net income

Operating income is positive, coming in at €3.8 million, compared with a -€1.1 million loss in 2016, after factoring in €0.9 million of non-recurring items.

Net income came to €4.1 million, compared with a net loss of -€1.1 million in 2016, benefiting from €1.0 million of tax income linked to the capitalization of losses carried forward.

Solid balance sheet and cash position further strengthened

The increase in funds collected on billing and the advance payments received on orders has contributed to a stronger cash position, up €4.9 million from December 31, 2016 to €7.4 million at December 31, 2017.

On the balance sheet, shareholders' equity is up €4.3 million from 2016 to €19.8 million. The company therefore has the financial resources needed to finance its development.

Favorable outlook for 2018

In view of the order book, which totaled €25,8 million at end-2017, and the orders received since the start of this year, RIBER is targeting year-on-year revenue growth of at least 15% for 2018.

Proposed dividend of €0.05 per share

The Executive Board will be submitting a proposal for approval at the General Meeting on June 21, 2018 for a dividend of €0.05 per share, deducted from the share premium account. This dividend would be released for payment on June 28, 2018.

2018 first-quarter revenues will be released on April 26 (after close of trading).

The financial statements were approved by the Executive and Supervisory Boards on April 12, 2018. They will be incorporated into the 2017 annual financial report, which will be published shortly in French on the company's website (www.riber.com).

About RIBER:
Riber designs and produces molecular beam epitaxy (MBE) systems as well as evaporation sources and cells for the semiconductor industry. This high-tech equipment is essential for the manufacturing of compound semiconductor materials and new materials that are used in numerous consumer applications, from new information technologies to OLED flat screens and next-generation solar cells.
Riber is listed on Euronext Paris (Compartment "C") and is part of the CAC Small, CAC Technology and CAC T. HARD. & EQ indices. Riber is eligible for SME share-based savings schemes.

ISIN: FR0000075954 - RIB
Reuters: RIBE.PA
Bloomberg: RIB: FP
BPI France-approved innovative company
www.riber.com

RIBER
Guillaume de Bélair
tel: +33 (0)1 39 96 65 00
invest@riber.com
CALYPTUS 
Cyril Combe
tel: +33 (0)1 53 65 68 68
cyril.combe@calyptus.net



[1] The Group has chosen to report on this aggregate considering its significance for analyzing its financial performance. The Group defines its EBITDA as income from ordinary operations restated for provisions and depreciation charges and reversals.