Riber - Pandemic stretching out sales cycles
Riber’s H120 results show the impact of a delay in completing a production MBE system because of issues in obtaining key components during the pandemic. While management expects FY20 revenues of €30m, based on the existing order book, we are reducing our FY20 gross margin estimate, which cuts our FY20 PBT estimate from €0.3m to break-even. Noting the delays in closing orders, we model fewer deliveries of MBE systems during FY21, which reduces our FY21 PBT estimate by €0.8m to €2.0m.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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