Riber: 2021 first-half earnings
30 Septembre 2021 - 8:00AM
Riber: 2021 first-half earnings
2021 first-half earnings
- First-half
earnings not significant of the annual
trend
- Sustained growth of the
services & accessories business
in line with objectives
- Outlook for 2021: full-year
revenues of more than €30m and operating
income of €1.2m
Bezons, September 30, 2021 – 8:00am – RIBER, a
global market leader for semiconductor industry equipment, is
releasing its earnings for the first half of 2021 and its outlook
for the full year.
(€m) |
H1 2021 |
H1 2020 |
Change |
Revenues Systems revenues |
9.32.8 |
11.65.6 |
-20% |
-50% |
Evaporators
revenues |
0.1 |
0.1 |
ns |
Services and
accessories revenues |
6.4 |
6.0 |
+8% |
Gross margin% of revenues |
2.527.5% |
3.328.9% |
-€0.8m |
Income from ordinary operations% of revenues |
(1.9)(21.0%) |
(1.0)(8.3%) |
-€1.0m |
Operating income% of revenues |
(1.9)(21.0%) |
(1.0)(8.3%) |
-€1.0m |
Net income% of revenues |
(1.8)(19.3%) |
(1.1)(9.6%) |
-€0.7m |
Key developments
During the first half of 2021, the effects of
the health crisis impacted the Company’s performance levels due to
the slowdown in systems orders in 2020 (three orders received) and
resulted in the deferral of one system’s delivery to the second
half of the year. Despite the impact of the pandemic-related travel
restrictions on business activity, the Company recorded four orders
for systems during the first half of the year and expects to
finalize several contracts during the second half of the year.
Throughout the period, the services and accessories business
maintained its robust sales growth in line with the development
strategy of this activity.
Revenues
In this context, revenues for the first half of
2021 came to €9.3m, down 20% from the first half of 2020. Systems
revenues are down 50% to €2.8m, while revenues for services and
accessories are up 8% to €6.4m. Evaporator revenues reflect the
lack of investment in the OLED screen industry.
Earnings
The first-half earnings cannot be extrapolated
over the full year due to increased seasonality with less than one
third of sales recorded during the first half of the year.
The first-half gross margin came to €2.5m,
representing 27.5% of revenues, down from the first half of 2020
considering the contraction in revenues.
Operating expenditure is under control (+€0.1m)
with a higher level of R&D investments (€1.6m; +46%), offset by
the reduction in sales and marketing costs (-10%) and
administrative costs (-9%).
Income from ordinary operations totaled €(1.9)m,
down €1.0m from the first half of 2020.
Net income came to €(1.8)m, compared with
€(1.1)m for the first half of 2020. It includes €0.2m of financial
income and expenses, linked primarily to the revaluation in euros
of receivables denominated in US dollars.
Cash flow and balance sheet
The cash position at end-June 2021 is positive,
with €7.2m, up €1.1m from June 30, 2020.
Shareholders’ equity at June 30, 2021 represents
€16.6m, compared with €19.0m at December 31, 2020. This change is
linked to first-half earnings and the distribution of amounts drawn
against the issue premium to shareholders for 2020.
Order book
During the first half of 2021, the level of new
orders picked up compared with the significant slowdown seen in
2020. The Company received two orders for production MBE systems
and two orders for research MBE systems, while maintaining its
growth for services and accessories.
As a result of this upturn, the order book was
consolidated at €17.4m at June 30, 2021, with a limited contraction
of 5% versus June 30, 2020. MBE systems orders (€10.5m) include
five systems to be delivered in 2021, while orders for services and
accessories (€6.9m) recorded 21% growth. These order book figures
do not include the orders for an MBE 412 research machine and an
MBE 6000 production machine announced respectively in July and
September 2021.
Outlook for 2021
In view of these elements, and without any major
disruption to the health and economic context, the Company is
forecasting full-year revenues of more than €30m and an operating
income of €1.2m for 2021.
Alongside this, the Company expects to see a
continued improvement in its orders over the second half of 2021,
benefiting in particular from the investments made in the
semiconductor industry as part of post-Covid stimulus plans.
With prospects for the coming years driven by
information technology innovations, the Company is continuing to
move forward with its development strategy focused on consolidating
its market shares for systems, achieving sustained growth in its
service-based activities and expanding its portfolio of
technologies and applications.
Next date: 2021 third-quarter
revenues on October 28, 2021 after close of trading
The condensed consolidated half-year accounts
have been subject to a limited review by the statutory auditors.
The half-year financial report was approved by the Executive and
Supervisory Boards on September 28, 2021. It is available in French
on the company website (www.riber.com).
About RIBERRIBER is the global
market leader for MBE - molecular beam epitaxy - equipment. It
designs and produces MBE systems and evaporators for the
semiconductor industry. It also provides technical and scientific
support for its clients, maintaining their equipment and optimizing
their performance and output levels. Through its high-tech
equipment, RIBER performs an essential role in the development of
advanced semiconductor systems that are used in numerous consumer
applications, from information technologies to 5G
telecommunications networks, OLED screens and next-generation solar
cells.RIBER is a BPI France-approved innovative company and is
listed on the Euronext Growth Paris market
(ISIN: FR0000075954).www.riber.com
Contacts
RIBER Stéphane Berterretchetel: +33 (0)1 39 96 65
00invest@riber.com |
CALYPTUSCyril Combetel: +33 (0)1 53 65 68
68cyril.combe@calyptus.net |
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