For the first nine months of 2014 (to end-September), Riber S.A. of Bezons, France, which manufactures molecular beam epitaxy (MBE) systems as well as evaporation sources and effusion cells, has reported a 10% drop in revenue year-on-year from €10.2m to €9.2m (50% from Asia, 44% from Europe and 6% from North America).
Of this, Systems revenue was €5.3m, down 11% year-on-year from €6m. Revenue from Services & Accessories was €3.3m, down 5% year-on-year from €3.1m. Revenue from Cells & Sources was €0.7m, down 28% year-on-year from €1m.
However, the total revenue for the first nine months of 2014 includes revenue for third-quarter 2014 of €4.3m, up 44% on €3m last quarter and up 79% on €2.4m a year ago. Of this, Systems revenue was €3.2m, up 55% on €2.1m last quarter. Revenue from Services & Accessories was €0.8m, level with last quarter. Revenue from Cells & Sources was €0.3m, up 112% on €0.1m last quarter.
The improved invoicing figures in Q3 reflect the seasonal trends for the production plan, which are focused on the end of the year. Over the first nine months of the year, five MBE machines were invoiced, compared with seven during the same period in 2013.
At the end of September, the order book amounted to €8m (down 33% on €12m a year ago, but level with end-June 2014). This included eight systems worth €4.9m (down 50% on Systems orders of €9.7m a year ago but also down 11% on €5.5m at end-June). Nevertheless, with demand contracting on the industrial market, sales of Services & Accessories and Cells & Sources have shown a good level of resilience, due to the dynamic commercial development in the research market. In Q3/2014, Riber received orders for four MBE research systems in Poland, Russia and Taiwan. Orders for Services & Accessories plus Cells & Sources were collectively €3.2m (up 28% on €2.5m at end-June and 34% on €2.4m a year ago). Of this, Services & Accessories orders were €2.4m (up 10% on €2.1m at end-June and 13% on just under €2.1m a year ago), while Cells & Sources orders were €0.8m (double the €0.4m at end-June and nearly triple the €0.3m a year ago).
“In a still challenging environment, the third quarter of 2014 showed signs of improvements, including a stronger level of orders placed thanks to Riber’s proactive commercial approach on the research market,” says chairman Frédérick Goutard.
Riber is focusing its sales & marketing actions on the research market and developing its new range of organic light-emitting diodes (OLED) cells. “We are moving forward with our OLED roadmap, with the development of a new range of cells,” says Goutard. “Our objectives on this buoyant market are being consolidated with the pilot materials sold this quarter,” he adds.
Alongside this, Riber is moving forward with the implementation of its diversification strategy, signing distribution agreements for thin-film deposition products with complementary technologies to supplement MBE (e.g. with France-based CVD and ALD system supplier AnnealSys in July and Mexico-based PVD system supplier Intercovamex in October).
In view of its industrial production schedule for fourth-quarter 2014, Riber has confirmed its full-year 2014 target for revenue of €15-19m (down about 28% on €23.5m in 2013), with a loss of more than €3m (compared with net income of €0.2m in 2013).
