RIBER: Strong growth in 2023 full-year earnings
Strong growth in 2023 full-year
earnings
- Revenues: €39.3m (+41%) driven by the robust
development of systems (+96%)
- Operating income: €3.9m, representing 10% of
revenues
- Net income: €3.4m, representing 8.7% of
revenues
- 2024 objectives: continued growth in revenues and
earnings
- Proposed payout
of €0.07 per share for
2023
- Proposal to simplify the governance
structure
Bezons, April 12, 2024 - 8:00am - RIBER,
the global leader for molecular beam epitaxy (MBE) equipment
serving the semiconductor industry, is releasing its full-year
earnings for 2023.
(€m - at December 31) |
2023 |
2022 |
Change |
Revenues |
39.3 |
27.8 |
+ €11.4m |
MBE
systems revenues |
29.0 |
14.8 |
+
€14.2m |
Services and accessories revenues |
10.3 |
13.0 |
- €2.7m |
Gross margin % of revenues |
13.2 33.7% |
10.9 39.2% |
+ €2.3m |
Income from ordinary operations % of revenues |
3.9 10.0% |
1.3 4.9% |
+ €2.6m |
Operating income % of revenues |
3.9 10.0% |
0.0 0.0% |
+ €3.9m |
Pre-tax income % of revenues |
3.6 9.1% |
0.4 1.5% |
+ €3.1m |
Net income % of revenues |
3.4 8.7% |
0.2 0.6% |
+ €3.2m |
Key developments
Despite the unstable geopolitical context, RIBER
achieved its revenue target in 2023, thanks to significant growth
in its MBE system sales. This expansion reflects its leadership on
the MBE market, particularly in the production sector, illustrated
by its high order intake in 2023, including seven production
systems. Although the services and accessories business decreased,
the Company’s performance shows significant progress.
Alongside this, RIBER moved forward with its
innovation efforts, including the release of the MBE 8000, a
system specially designed to meet requirements for the mass
production of EPI wafers, opening up new opportunities for the
Company’s clients.
Revenues
Full-year revenues for 2023 increased to €39.3m,
up +41% from 2022. Sales of MBE systems were up +96% to €29.0m for
13 machines delivered, compared with six in 2022. Sales of services
and accessories were down -21% from a high basis for comparison to
€10.3m, representing 26.2% of 2023 revenues.
Earnings
The gross margin was €13.2m, up €2.3m,
driven by business growth.
Operating income was €3.9m, representing 10.0%
of revenues. It shows a significant improvement compared with
the previous year, which included €1.3m of non-current
expenses.
Net income totaled €3.4m, compared with €0.2m in
2022. In 2023, it included -€0.4m of financial income and
expenses, linked primarily to the impact of the devaluation of the
US dollar and the Yuan against the euro for the receivables
denominated in these two currencies.
Cash flow and balance sheet
The cash position at end-2023 was positive at
€9.7m, up +€3.6m from the end of 2022.
Shareholders’ equity totaled €21.2m, up +€2.4m
compared with end-2022. This change is driven by the earnings
for the year 2023 and the distribution of amounts drawn against the
issue premium for 2022 to shareholders.
Order book
The order book at December 31, 2023 represented
€26.3m, down 12% year-on-year, including six MBE systems (€20.2m),
as well as orders for services and accessories
(€6.1m).
However, this order book does not include the
robust new order intake level seen since the start of 2024, with
five systems ordered to date. They include a major order for three
production systems in Asia, announced on January 24, 2024, as well
as two other orders for research systems, announced respectively on
March 5 and 20, 2024.
Outlook
Given its current orders and the opportunities
that will open up for its systems, services and accessories,
RIBER expects further growth in revenues and earnings for
2024. The Company will provide full-year
revenues forecast at the end of the first half of 2024.
Distribution of amounts drawn against
the “issue premium” account
Illustrating its confidence in the Company’s
outlook, the Executive Board will submit a proposal to shareholders
at the General Meeting on June 19, 2024 to approve a cash payout
based on reimbursing part of the issue premium for €0.07 per share.
It will be released for payment on June 28, 2024.
Governance
The Executive Board, as agreed with RIBER’s
Supervisory Board, also decided to propose the transformation of
the Company’s governance structure at the General Meeting on June
19, 2024. Subject to this proposal being approved by shareholders,
the current dual structure based on a Supervisory Board and
Executive Board, will be replaced by an organization with a Board
of Directors.
This proposed modification reflects the Group's
commitment to simplifying its operational decision-making processes
and is in line with RIBER's new strategy to support its expansion
in a buoyant market environment.
Implementation of the share buyback
program
The Executive Board, as agreed with RIBER’s
Supervisory Board, finally decided to implement the share buyback
program on the basis of the authorization granted by the twelfth
resolution of the Shareholders' General Meeting of June 20,
2023. The description of the share buyback program will be
published on 15 April 2024 before the stock market opens.
Next dates
- April 26, 2024 - 8:00am:
2024 first-quarter revenues and 2023 annual
financial report
- June 19, 2024 - 10:00 am: General
Meeting
The annual financial statements were approved by
the Executive Board and, on April 10, 2024, were also approved by
the Supervisory Board. The statutory auditors have completed the
audit procedures on the corporate and consolidated accounts. The
certification report will be issued once the necessary procedures
have been finalized for publishing the full-year financial
report.
About RIBER
Founded in 1964, RIBER is the global market
leader for MBE - molecular beam epitaxy - equipment. It designs and
produces equipment for the semiconductor industry, and provides
scientific and technical support for its clients (hardware and
software), maintaining their equipment and optimizing their
performance and output levels.Accelerating the performance of
electronics, RIBER’s equipment performs an essential role in the
development of advanced semiconductor systems that are used in
numerous applications, from information technologies to photonics
(lasers, sensors, etc.), 5G telecommunications networks and
research, including quantum computing.RIBER is a BPI
France-approved innovative company and is listed on the Euronext
Growth Paris market (ISIN: FR0000075954).www.riber.com
Contacts
RIBER: Annie Geoffroy |
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
- CP_Riber_Résultats 2023_EN_VDEF (2)
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