Riber

2019 full-year earnings growth versus 2018

Bezons, April 22, 2020 – 5:45pm – RIBER, a global market leader for semiconductor industry equipment, is releasing its full-year earnings for 2019.

(€m - at December 31)	2019	2018	Change
Revenues	33.4	31.3	+7%
MBE systems revenues	23.0	9.6	+140%
Evaporators revenues	1.0	11.6	-91%
Services and accessories revenues	9.4	10.1	-7%
Gross margin % of revenues	9.9 29.6%	11.1 35.6%	-€1.2m
Income from ordinary operations % of revenues	0.9 2.7%	0.1 0.4%	+€0.8m
Operating income % of revenues	0.9 2.7%	0.0 0.0%	+€0.9m
Net income % of revenues	1.1 3.3%	0.3 1.0%	+€0.8m

Revenues

Full-year revenues came to €33.4m for 2019, up 7% year-on-year. MBE system sales, driven by the development of 5G, show 140% growth. This progress offset the flat level of evaporator sales, impacted by the lack of investment in the OLED screen industry. Sales of services and accessories decreased slightly compared to 2018 (-€0.7m).

Earnings

Operating income climbed to €0.9m, a significant improvement compared with 2018.

The change in revenues for each product line and the €0.5m of non-recurring commissioning costs contributed to the €1.2m contraction in the gross margin for the year (€9.9m in 2019 versus €11.1m in 2018).

Overheads show a significant decrease of €2m (€9m in 2019 versus €11m in 2018), linked to the €1.4m reduction in administrative costs, of which €1.1m of non-recurring costs in 2018. Sales and marketing costs are stable. Gross R&D effort amounts to €2.4m at the same level as in 2018

Net income represents €1.1m, compared with €0.3m for 2018, up €0.8m.

Cash flow and balance sheet

The cash position at end-December 2019 is positive, with €5.9m, up €3.4m from the end of December 2018. This growth reflects the reduction in inventory and the favorable position for deposits received on orders at end-2019, as well as the good level of the Company’s cash flow from operations.