Markets Wired

Press release

2019 first-half earnings

• Robust development of the “systems” and “services” activities
• Half-year earnings marked by the change in the product mix
• Outlook for growth and profitability in 2019

Bezons, September 30, 2019 – 5:45pm – RIBER, a global market leader for semiconductor industry equipment, is releasing its earnings for the first half of 2019 and its outlook for the full year.

(€m)	H1 2019	H1 2018	Change
Revenues Systems revenues	13.9 8.6	16.7 3.7	-17%
			+132%
Evaporators revenues	1.0	10.4	-90%
Services and accessories revenues	4.3	2.6	+65%
Gross margin % of revenues	4.1 29.5%	8.2 48.8%	-€4.1m
Income from ordinary operations % of revenues	(0.5) (3.6%)	2.8 16.8%	-€3.3m
Operating income % of revenues	(0.5) (3.7%)	2.8 17.0%	-€3.3m
Net income % of revenues	(0.4) (2.9%)	2.4 14.4%	-€2.8m

Revenues

Revenues for the first half of 2019 came to €13.9m, down 17% from the first half of 2018.

Systems revenues are up 132%, reflecting the strengthening of RIBER’s commercial positions in the industrial sector, with four production machines delivered during the first half of 2019.

The services and accessories business recorded growth in line with the strategy to develop this activity.

Revenues from evaporators are down temporarily following the major investments made in previous years.

Earnings

The gross margin came to €4.1m, representing 29.5% of revenues, compared with 48.8% for the first half of 2018. Its change over the first half of the year is linked to the contraction in revenues versus the first half of 2018, as well as a product mix that is currently less favorable.

Income from ordinary operations totaled €(0.5)m, down €3.3m from the first half of 2018.

Net income represents €(0.4)m, compared with €2.4m for the first half of 2018.

Balance sheet

Net cash at end-June 2019 represents €2.5m, stable compared with December 31, 2018.

On the balance sheet, shareholders’ equity at June 30, 2019 represents €17.6m, compared with €19.2m at December 31, 2018. This change is linked primarily to first-half earnings and the recognition of the distribution of amounts drawn against the issue premium to shareholders for 2018, paid out in July and September 2019.

Outlook

The order book at June 30, 2019 remained high at €28.4m. It confirms the positive market environment for the production MBE business, with a systems order book of €21.5m, consistent with the previous year’s figure of €22.2m and comprising 13 systems, including six production units. The order book for services and accessories has continued to be satisfactory, with €6.9m. These order book figures do not include the order placed in September 2019 for an MBE 6000 production system in Asia.

In view of these elements, RIBER is able to confirm its full-year forecast for revenue growth and improved operational profitability compared with 2018.

In a buoyant environment driven by information technology innovations over the coming years, RIBER is moving forward with its development, consolidating its market shares, expanding its portfolio of technologies and clients, and supporting the development of its service activities.

Next dates: 2019 third-quarter revenues on October 30, 2019 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 27, 2019. It is available in French on the company website (www.riber.com).

About RIBER:
RIBER is a global market leader for semiconductor industry equipment. It designs and produces molecular beam epitaxy (MBE) systems as well as evaporation sources and cells 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 OLED flat screens and next-generation solar cells.
RIBER is listed on the regulated market 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 (PEA-PME) and is a BPI France-approved innovative company.

ISIN: FR0000075954 – RIB
Reuters: RIBE.PA
Bloomberg: RIB: FP
www.riber.com

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