(News Bulletin 247) – The company based in Bezons expects further growth in its turnover and profitability in 2024, after revealing sharply increased results for the past financial year.

The French company Riber has been trading on the stock market for almost 25 years (it was May 2000), but its activity today remains quite obscure in the eyes of many investors.

It must be recognized that molecular beam epitaxy (MBE) does not speak to ordinary people. However, the group is one of the rare global players to master this technology making it possible to manufacture electronic devices from semiconductor alloys used in the most advanced applications such as high frequency electronics for terrestrial telecommunications (4G, 5G) and smartphones, or even optoelectronics, which is used in terrestrial fiber optic networks or laser cutting machines.

Initially reserved for research, MBE systems were then extended to industrial customers. Riber is the undisputed leader in this last segment. The group thus has a market share estimated at 70% over the last five years compared to 50% in MBE equipment dedicated to research.

Last year, the group claimed significant order intake including 7 production systems. Knowing that a complete system represents several million euros in revenue, Riber indicated this Friday morning that it had achieved its turnover objectives in 2023 due to the 96% growth in its sales of MBE systems, which were numbering 13 compared to 6 a year earlier.

This market for MBE equipment in industry is strategically important for the company because it requires maintenance, thus providing recurring income for the French company.

The turnover for the 2023 financial year therefore stood at 39.3 million euros, an increase of +41% compared to that of the 2022 financial year, despite a service and marketing activity. accessories which fell by 21% compared to 2022 which then constituted “a high basis for comparison” to stand at 10.3 million euros.

A doubled operating margin

A little further down in the accounts, the gross margin was supported by the clear progression of Riber’s activity and thus increased by 21% over one year to stand at 13.2 million euros.

The operating profit amounted to 3.9 million euros and improved significantly compared to that of the previous financial year which included non-current charges of 1.3 million euros.

The corresponding margin thus doubled to 10% of turnover, compared to 4.9% in 2022. The net result follows the same movement and recovers very clearly to 3.4 million euros in 2023, compared to 0.2 million euros in 2022.

On the cash and balance sheet side, all the signals are green. At the end of 2023, Riber strengthened its cash flow by 3.6 million euros, and stands at 9.7 million euros.

Shareholders’ equity stands at 21.2 million euros and is an increase of 2.4 million euros compared to the end of 2022. “This change takes into account the result of the financial year and the distribution to shareholders of “a sum taken from the share premium for the 2022 financial year”, specifies Riber.

Continued growth and profitability

Riber’s order book at the end of December 2023 amounts to 26.3 million euros, down 12% compared to the previous year and includes 6 MBE systems (20.2 million euros) and orders for services and accessories (6.1 million euros).

However, Riber would like to add that this level does not yet include new orders taken by its customers since the start of the 2024 financial year, including five systems ordered so far. Among these, the group is advancing a “significant” order for three production systems in Asia at the end of January 2024, as well as two other research system orders, announced respectively on March 5 and 20, 2024.

Building on current orders and “future opportunities for its systems, services and accessories”, Riber is counting on continued growth in its turnover and profitability. The company will give an annual revenue forecast at the end of the first half of 2024.

Confident in its prospects, Riber also plans to pay a dividend in the form of reimbursement of part of the issue premium, up to 0.07 euros per share. Its payment will take place on June 28, 2024. The company also announces the implementation of a share buyback program, the details of which will be communicated on April 15 before the stock market opens.

Following these announcements, the stock rose 7.3% to 2.79 euros around 12:10 p.m.