RIBER : RIBER : 2012 FULL-YEAR EARNINGS
2012 FULL-YEAR EARNINGS
Bezons, April 4th, 2013 - 7 am - RIBER, the global leader for molecular beam
epitaxy (MBE), is releasing its full-year earnings for 2012.
(€'000,000 - at December 31st) 2012 2011 Change
Systems revenues 19.4 11.5 +68%
Services and accessories revenues 5.9 5.4 +9%
Cells and sources revenues 2.1 12.1 -83%
Revenues 27.4 29.0 -5%
Gross margin 9.1 12.4 -27%
% of revenues 33.2% 42.9%
Operating income 2.0 4.3 -55%
% of revenues 7.2% 15.0%
Pre-tax earnings 2.2 4.5 -52%
Net income 1.9 4.3 -55%
% of revenues 7.0% 14.8%
EBITDA 1.8 2.7 -33%
% of revenues 6.6% 9.3%
*Operational profitability (operating margin of 7.2%) despite a less
favorable product mix than in 2011;
*Achievement of the strategic revenue target on MBE, with strong growth in
business in the research field;
*Acceleration of growth in emerging markets where Riber has a longstanding
presence (China, Russia, Turkey, etc.);
*Growth in the services business;
*Major R&D drive, ensuring future growth.
MBE system sales, up 68% compared with 2011, reflect the dynamic level of
commercial development with compound semiconductor industrial firms and
Returning to growth, the MBE services and accessories business has benefited
from work carried out at the end of 2011 to further strengthen the commercial
and technical organization. In this way, sales picked up 9% despite the
slowdown in demand.
The cells and sources business came in lower following an exceptional year in
2011, marked by the delivery of major equipment orders for OLED screen
production lines in Asia. This market is still buoyant for Riber.
Change in profitability
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% of revenues.
Consolidated net income totaled €1.9 million (7% of revenues), compared with
€4.3 million in 2011 (14.8% of revenues).
Cash represented €5.3 million at 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 coopt the following new Supervisory
Board members on April 3rd, 2013:
*Dominique Pons, director at GIE III-V Lab, the joint Thales,
Alcatel-Lucent and CEA-Leti industrial research laboratory for III-V
*Gildas Sorin, CEO of Novaled, the German firm and world leader for
developing and marketing materials for OLED production.
Their coopting will be submitted for approval at the upcoming general meeting
on May 31st, 2013.
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 particularly well positioned, with orders for 13
machines to be delivered in 2013.
In 2013, RIBER is moving forward with the deployment of its profitable growth
*Continuing to further strengthen RIBER's leadership on the market for
molecular beam epitaxy machines;
*Capitalizing on the installed base and growing sales of epitaxy equipment,
spare parts and accessories, as well as the corresponding services;
*Releasing a range of equipment and services with high technological
value-added on the market for strong-growth application fields (OLED
lighting and screens, thin-layer solar cells, etc.);
*Over the longer term, integrating molecular beam epitaxy within the
silicon manufacturing chain.
The financial statements were approved by the Management and Supervisory
Boards on April 3rd, 2013. They will be incorporated into the 2012 annual
report, which will be published on April 22nd on the French version of Riber's
internet site (www.riber.com).
Next date: 2013 first-quarter revenues on April 24th after close of trading
Riber designs and produces molecular beam epitaxy (MBE) systems as well as
evaporation sources and cells for the semiconductor industry. This
high-technology 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 new
generation solar cells.
Riber recorded €27.4 million in revenues in 2012 and employs 111 people. The
company is ISO9001 certified.
Riber is listed on NYSE-Euronext Paris, Compartment "C", and is part of the
CAC Small, CAC Mid & Small, CAC Technology and CAC T. HARD. & EQ indices.
Riber is one of the best-rated companies in the Gaïa-index, the leading SRI
index for French mid-caps.
ISIN: FR0000075954 - RIB
Bloomberg: RIB: FP
OSEO-approved innovative company
Olivier Handschumacher Cyril Combe
tel: +33 1 39 96 65 00 tel: +33 1 53 65 68 68
RIBER 2012 FULL-YEAR EARNINGS
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: RIBER via Thomson Reuters ONE
Press spacebar to pause and continue. Press esc to stop.