Riber: Strong full-year earnings growth for 2021
13 Avril 2022 - 8:00AM
Riber: Strong full-year earnings growth for 2021
Press release
Strong full-year earnings growth for
2021
- Revenues up 3%, driven by the diversification of the
product mix
- Gross margin up 5.3 points
- Operating income of €1.3m, slightly higher than the
target set
- Net income multiplied by 5 to reach €1.5m
- Outlook for revenue and profitability growth in
2022
- Proposed payout of €0.05
per share
Bezons, April 13, 2022 - 8:00am - RIBER,
the global leader for molecular beam epitaxy (MBE) equipment
serving the semiconductor industry, is releasing its full-year
earnings for 2021.
(€m - at December 31) |
2021 |
2020 |
Change |
Revenues |
31.2 |
30.2 |
+3% |
MBE systems
revenues |
17.4 |
18.2 |
- 4% |
Services and accessories revenues |
13.8 |
12.0 |
+15% |
Gross margin% of revenues |
11.135.4% |
9.130.1% |
+21% |
Operating income% of revenues |
1.34.1% |
0.72.3% |
+83% |
Net income% of revenues |
1.54.7% |
0.30.9% |
+465% |
Revenues
2021 full-year revenues came to €31.2m, up 3%
from 2020. Sales of MBE systems are down 4% following the export
licenses rejected by the French authorities for a total of €9m in
2021, and totaled €17.4m, with eight machines delivered, versus 10
in 2020. Sales of services and accessories maintained their strong
growth (+15%), climbing to €13.8m, representing 44.2% of the
Company’s total revenues in 2021.
Earnings
The gross margin came to €11.1m, representing
35.4% of revenues, up +5.3 points compared with 2020 (30.1%),
thanks to the favorable change in the product mix and the increase
in the value of the systems sold.
Operating expenditure increased by €1.4m (€9.8m
in 2021, versus €8.4m in 2020), due to the ramping up of R&D
investments to reach 12% of revenues in 2021 (€3.8m; +80%). Sales
and marketing costs (-4%) and administrative costs (-6%) are down
slightly. In this context, operating income came to €1.3m, compared
with €0.7m in 2020, up +83%.
Net income totaled €1.5m, compared with €0.3m in
2020. In 2021, it included +€0.4m 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-2021 is positive, with
€5.8m, down €2.2m from the end of 2020. This change reflects a
strong growth in cash flow from operations, the increase in working
capital requirements and the ramping up of investments.
The Group’s net financial debt represented €2.4m
at December 31, 2021. Shareholders’ equity came to €19.8m, up €0.8m
from 2020. This change is linked to earnings for the year and the
distribution of amounts drawn against the issue premium for 2020 to
shareholders.Order book
The order book at December 31, 2021 is up 3% to
€14.8m, including three orders for MBE systems (€7.9m), with one
production system, and a robust level of orders for services and
accessories (€6.9m).
This order book does not take into account the
additional orders for six systems (five research and one
production) announced during the first quarter of 2022, for a total
of around €9m.
Outlook
In view of these elements, the Company is
forecasting growth in both revenues and profitability for 2022
compared with 2021.
Alongside this, the Company expects to continue
to record new orders during the second quarter of 2022 thanks to a
strong pipeline of prospects.
Over the longer term, in an environment
supporting the emergence of a European semiconductor industry,
RIBER is moving forward with a project for profitable growth built
around its technological and industrial know-how, as well as its
capacity for innovation. Driven by new information technologies,
the Company is rolling out a strategy focused on further
strengthening its leading position for MBE, achieving regular
growth in its service activities and maintaining a robust level of
R&D investment to expand its portfolio of technologies and
applications.
Distribution of amounts drawn against
the “issue premium” account
Illustrating its confidence in the Company’s
future, the Executive Board will submit a proposal to shareholders
at the General Meeting on June 21, 2022 to approve a cash payout
based on reimbursing part of the issue premium for €0.05 per share.
It will be released for payment on July 4, 2022.Next
dates
- April 29, 2022, 8:00am:
2022 first-quarter
revenues and 2021 annual financial report
- June 21, 2022, 10:00am:
General
Meeting
The annual financial statements were approved by
the Executive Board and, on April 12, 2022, were also approved by
the Supervisory Board. They will be incorporated into the 2021
annual financial report, which will be available from April 29,
2022 in French on the Company's website (www.riber.com).
About RIBER
RIBER 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 Berterretche | 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
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