€47m market cap
€2.21 last close
Riber designs and produces molecular beam epitaxy (MBE) systems and evaporator sources and cells for the semiconductor industry. This equipment is essential for the manufacturing of compound semiconductor materials that are used in numerous high-growth applications.
Investment summary
Total revenues for the nine months ended September 2019 declined by 4% year-on-year to €20.7m. A 136% jump in system revenues to €12.8m and 23% rise in service revenues to €6.9m was insufficient to compensate for minimal (€1.0m vs €10.6m in the prior year period) evaporator revenues as uncertainty in the OLED market adversely affected demand. Our estimates already reflect these developments and have not been changed.
Y/E Dec |
Revenue (€m) |
EBITDA (€m) |
PBT (€m) |
EPS (c) |
P/E (x) |
P/CF (x) |
|---|---|---|---|---|---|---|
| 2017A | 30.5 | 5.9 | 4.0 | 12.82 | 17.2 | N/A |
| 2018A | 31.3 | 3.3 | 2.0 | 6.59 | 33.5 | N/A |
| 2019E | 35.3 | 2.4 | 1.5 | 4.98 | 44.4 | N/A |
| 2020E | 37.7 | 3.9 | 3.0 | 10.41 | 21.2 | N/A |
Industry outlook
At €26.4m,the total order book at the end of September 2019 was 15% lower than 12 months previously, primarily reflecting the absence of evaporator orders. This total includes 12 systems, of which six are for production and six R&D. There are two production machines and four R&D machines scheduled for delivery in Q419. In November Riber received two additional R&D system orders, both to German customers and for delivery in FY20. The first is for two R&D systems that will be used to develop thin-film solar cells based on CIGS technology. The second is for the development of hybrid nanostructures used in nanophotonic components.
Last updated on 16/01/2020
Sector |
|---|
| TMT |
Share price graph
Balance sheet |
|
|---|---|
| Forecast net cash (€m) | 5 |
| Forecast gearing ratio (%) | N/A |
Price performance
% |
1m |
3m |
12m |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|||||||||||||||
| *% relative to local index | |||||||||||||||
Key management |
|
|---|---|
| Philippe Ley | CEO |
| Michel Picault | Chairman of Management Board |
You may also be interested in…
- Aladdin Blockchain Technologies
- artec technologies
- bet-at-home
- Beta Systems
- Cliq Digital
- Codere
- CREALOGIX Group
- Cyan
- DATAGROUP
- Edel
- EQS Group
- Esker
- Expert System
- Flatex
- GO internet
- Max 21
- Mensch & Maschine Software
- Mondo TV
- mVISE
- Mynaric
- OPAP
- Pantaflix
- Piteco
- SNP Schneider-Neureither & Partner
- STEMMER IMAGING
- Technicolor
- TerraNet
- The Marketing Group
- The NAGA Group
- Thin Film Electronics
- Tinexta
- TXT e-solutions
- Vectron Systems