Riber - Order intake accelerating
Riber’s Q321 revenues were up 11% year-on-year. This growth partly offset the 20% contraction in H121 caused by a slowdown in MBE system orders during the coronavirus pandemic in FY20. Revenues for the nine months ended September 2021 (Q321) totalled €15.8m, 9% lower year-on-year. Order intake has improved substantially since FY20, but the resultant production schedule means that system deliveries are concentrated into Q421. MBE system orders continued to pick up in Q321, so management has reiterated its FY21 guidance of over €30.0m revenues and operating income of €1.2m. We leave our estimates unchanged.Riber and its subsidiaries are engaged in the design, produce, sale and maintain molecular beam epitaxy (MBE) systems as well as evaporation sources and cells for the semiconductor industry. In addition to MBE systems, a comprehensive range of MBE related-components is also available. These equipments are essential for the manufacturing of compound semiconductor materials and new materials that are used in numerous consumer applications, from new information technologies to Organic Light-Emitting Diode flat screens and new generation thin layer solar cells.
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