Riber announces first half year results

French company MBE Riber has released its revenues and earnings for the first half of 2024, showing solid business growth.

The company said the results reflected its strong position in the MBE market, driven by a surge in orders in the first half of the year, with eight systems ordered for both research and industrial production. In addition, the service and accessories business recorded significant growth from a favorable base.

Revenues for the first half of 2024 amounted to EUR 13.7 million, an increase of 13% compared to the first half of 2023. Revenues from systems increased by 10% to EUR 9.4 million, while revenues from services and accessories increased by 19% to EUR 4.3 million.

The company indicates that first-half earnings cannot be extrapolated to the full year due to lower seasonality in revenues in the first half of the year. Gross margin in the first half of the year was €4.8 million, representing 34.8% of revenues, compared to 32.3% in the first half of 2023.

Operating profit increased by EUR 1.1 million, reaching breakeven in the first half of 2024. Net income was positive at EUR 0.2 million, compared with a loss of EUR 1.2 million in the first half of 2023. This amount includes net financial income of EUR 0.2 million.

At the end of June 2024, the cash position was positive at EUR 7.1 million, compared to EUR 9.7 million at December 31, 2023 and EUR 8.3 million at June 30, 2023.

Equity at the end of June 2024 amounted to EUR 19.6 million, compared to EUR 21.2 million at 31 December 2023, which is primarily due to half-year profits and the share premium paid to shareholders in June.

The order book as of June 30, 2024, amounted to EUR 36.0 million, an increase of 18 percent compared to June 30, 2023. System orders amounted to EUR 30.2 million (+27 percent) based on 12 machines, including seven production machines. Orders for services and accessories (EUR 5.8 million) fell by -14 percent. This order book does not include the order announced in August 2024 for one research machine.

Perspectives

Taking into account current orders scheduled for 2024 and opportunities for its systems, services and accessories, Riber expects full-year revenues in excess of €40 million, with further profit improvement. The company says it expects new orders in the fourth quarter.