AI assistant
Riber — Earnings Release 2008
Mar 26, 2009
1629_iss_2009-03-26_0973cb2b-2d7c-44e2-aa4f-ddbdf7821107.pdf
Earnings Release
Open in viewerOpens in your device viewer
Press release – 2008 Annual Results
Bezons, France, March 25, 2009; 5.45 PM
SIGNIFICANT IMPROVEMENT IN 2008 RESULTS
Bezons, France, March 25, 2009 – 5.45pm – RIBER, the global leader for molecular beam epitaxy (MBE) recorded a significant improvement in its 2008 performance, with sales growth of 13% to € 19.3 million and an income from operations of € 0.27 million, compared to a loss of € 6.16 million in the previous year. The net loss also improved to € 1.02 million, compared to a loss of € 9.73 million in 2007.
PROFITABILITY RECOVERY IN 2008
RIBER had a 2008 fiscal year of strong sales growth and improved profitability:
- Sales increased by 13% to € 19.2 million.
- Growth was driven by sustained MBE system sales to research centers and manufacturers of devices based on compound semi-conductors. It was strengthened by the organic development of sales of the component and services division to installed machines (technical support, system upgrades, selling of improved cells, etc.) and the take-off of sales of evaporation sources for new applications (OLED screens, solar cells).
| (at December 31) | 2008 | 2007 | % change | ||
|---|---|---|---|---|---|
| € millions | % | € millions | % | ||
| Systems | 13.3 | 69.6 | 12.7 | 74.7 | +4.7% |
| Components and after sales services | 6.0 | 30.3 | 4.3 | 25.3 | +39.5% |
| Total | 19.3 | 100.0 | 17.0 | 100.0 | +13.5% |
The acquisition of VG Semicon's MBE operations at the end of 2008 was a significant new growth driver for component and services sales and confirmed RIBER's dominant position in its market with about 60% of all installed machines.
In 2008, RIBER sales were broken down as follows between Asia (42 %), Europe (47%) and North America (11%).
- The increase in productivity and cost control led to an improved gross profit of € 5.85 million, compared to € 1.07 million in 2007, representing 30.4% of sales, compared to 6.3% at December 31, 2007.
Income from operations was € 0.27 million, compared to a loss of € 6.16 million in the previous fiscal year.
The consolidated net loss amounted to € 1.02 million, taking into account non-recurring exceptional expenses of € 1.2 million.
INCOME STATEMENT (UNAUDITED DATA)
| (€ millions) | 2008 | 2007 | Change |
|---|---|---|---|
| Sales | 19.25 | 16.99 | 13% |
| Gross profit | 5.85 | 1.07 | x5 |
| Income (loss) from operations* | 0.27 | (6.16) | up € 6.43 million |
| Net loss | (1.02) | (9.73) | up € 8.71 million |
A SOUND BALANCE SHEET
The balance sheet remained sound with shareholders' equity of € 21.51 million and financial debt of € 1.1 million (including OSEO's € 1 million advance).
PROPOSED PAYMENT OF A FIRST DIVIDEND OF €0.02 PER SHARE
Demonstrating its confidence in RIBER's future, the Management Board will propose to the Annual General Meeting of May 14, 2009 the payment of a first dividend of € 0.02 per share This decision, which reflects RIBER's confidence in the future, will fully preserve the Company's development capacity.
Based on an average 2008 share price of € 1.03, RIBER shares yield a return of 1.9%.
OUTLOOK
In a highly unstable economic and financial environment at the start of the 2009 fiscal year, the market for research center and university-dedicated systems continued to perform well, whereas systems dedicated to compound semi-conductor manufacturers provided less visibility. Component and services sales should continue to expand, in particular following the acquisition of VG Semicon's operations in 2008 and the introduction of new products dedicated to OLED screens and solar cells.
SHAREHOLDERS' AGENDA: 1st quarter 2009 sales, April 16 after close of trading
About RIBER:
Riber develops and manufactures Molecular Beam Epitaxy (MBE) systems, as well as evaporation sources and cells for the semi-conductor industry. Such high technology equipment is essential to the manufacture of compound semi-conductor materials that are used in numerous industrial, scientific and consumer applications, such as a majority of new Information Technologies, OLED screens and new generation solar cells.
Shares of Riber SA are listed in Compartment "C" of the Euronext Paris Stock Exchange and are a component of the CAC IT index.
ISIN code: FR0000075954 Reuters Code: RIBE.PA Bloomberg Code: RIB: FP RIBER has been awarded the OSEO innovation certification, enabling it to qualify for FCPIs (French mutual funds).
Your contacts:
RIBER Jean Pierre Régner Tel: +33 (0)1 39 96 65 00 e-mail: [email protected] -
CALYPTUS Cyril Combe Tel: +33 (0)1 53 65 68 68 cyril.combe@©alyptus.net
www.riber.com