Riber Sa · EURONEXT:ALRIB
Riber Sa — Investor Presentation (April 2018)
26 slides from Riber Sa's investor presentation, April 2018
Slide 1: General presentation
General presentation April 2018
Slide 2: Contents
Contents Profile 2017 earnings Strategy and outlook Stock market data RIBER – General Presentation – April 2018 2
Slide 3: Profile
Profile
Slide 4: RIBER in brief /1
RIBER in brief /1 Semiconductor industry equipment specialist Develops, designs, manufactures and markets MBE machines and evaporation sources Riber’s clients Universities or semiconductor and/or electronics research centers Industrial firms: Manufacturers of electronic components on MBE wafers for:
Slide 5: RIBER in brief /2
RIBER in brief /2 Recognized technological leader Numerous global innovations Partnerships with universities or industrial firms: development of new applications Efficient, high-quality industrial facilities 3,500 sq.m plant in Bezons (France), with a 1,000 sq.m clean room Design and assembly of mac
Slide 6: Value proposition: research laboratories /1
Value proposition: research laboratories /1 Clients: research centers and laboratories Growth of semiconductor alloy crystals with MBE: AsGa, InP, GaN, InSb, ZnSe, CMT, oxides, metals Fields: nanotechnologies, quantum electronics, lasers, LEDs, UV and infrared detectors, power circuits, etc. Their n
Slide 7: Value proposition: research laboratories /2
Value proposition: research laboratories /2 Riber’s solutions Market's widest range of solutions for processes (types of alloys) and numbers of sources: Compact12, Compact 21T, Compact21DZ, Compact21EB, Siva21, Epineat, MBE412, MPVD300 Distribution Global (>38 countries) through subsidiaries (USA, K
Slide 8: Value proposition: MBE industrial firms /1
Value proposition: MBE industrial firms /1 Clients: semiconductor industry operators Manufacturing of semiconductor alloy epitaxy wafers with MBE: AsGa, InP, ZnSe, CMT Microwave circuits Telecoms networks: terrestrial (4G, wifi) and satellite (transmitting-receiving antennae) Defense: high-frequency
Slide 9: Value proposition: MBE industrial firms /2
Value proposition: MBE industrial firms /2 Market Cyclical: estimated at 0-5 purchases / year, depending on investment cycles Competitors: Veeco (USA) Riber's market share in 2017: 75% Market picking up through investments in optoelectronics and sensors Solutions Market's largest range for treatment
Slide 10: Value proposition: evaporator industrial firms /1
Value proposition: evaporator industrial firms /1 Clients: semiconductor industry operators Manufacturing of machines for producing thin films Depositing of thin films of chemical elements with online machines End markets CIGS alloy photovoltaic cells: electrical energy production OLED TV, tablet an
Slide 11: Value proposition: evaporator industrial firms /2
Value proposition: evaporator industrial firms /2 Market Cyclical: estimated at several thousand ad hoc evaporators / year, depending on investment cycles Competitors: 2 Asian companies Riber's market share in 2017: 5% Rapidly developing market with investment in OLED and solar, and penetration of n
Slide 12: Value proposition: services and accessories /1
Value proposition: services and accessories /1 Clients: clients from the installed base for laboratories and industrial firms Laboratories: 319 clients in 38 countries, around 620 machines in operation Industrial firms - MBE: 40 clients in 10 countries, around 110 machines in operation Manufacturers
Slide 13: Value proposition: services and accessories /2
Value proposition: services and accessories /2 Solutions Catalogue of spare parts, accessories and sources Preventative or remedial operations at client sites On-site upgrades and retrofits In-factory component repairs In-factory equipment refurbishments Distribution Locally (Europe, Asia) through s
Slide 14: 2017 earnings
2017 earnings
Slide 15: Strong revenue growth: +86%
Strong revenue growth: +86% Revenues (€m) Successful transformation of major 30,6 contracts to supply evaporators for the photovoltaic and screen industries. 16.2 Solid growth in sales of services supported 16,5 by the reactivation of production capacity 3.0 by industrial customers 4.6 7.2 8.8 7.2 5
Slide 16: Income statement
Income statement (€m - IFRS) 2017 2016 Revenues 30.6 16,5 +86% Gross margin 13.6 6.0 +125% % of revenues 44.5% 36.4% Sales (4.3) (3.0) Research and development (2.5) (2.3) Of which, gross expenditure (2.4) (2.4) Of which, other items (research tax credit, subsidies, IFRS capitalization, etc.) (0.1
Slide 17: Balance sheet at December 31, 2017
Balance sheet at December 31, 2017 (€m) Assets Liabilities Fixed assets 6 Financial assets 1,9 Deferred tax assets 1,1 19,8 Shareholders' equity Inventories 6,2 Work-in-progress 3,7 0,7 Non-current provisions 3,1 Trade payables Trade receivables 9,1 Other assets 9,2 Client advances 2,1 Cash and cash
Slide 18: Change in the cash position
Change in the cash position (€m) Change in working capital requirements: + 1,3 + 1.1 - 1.6 7.4 - 0.1 - 2.6 + 4.8 + 5.3 - 2.1 2.5 Opening cash Cash flow from Inventories Trade Advances and Trade payables Net investments Financing Closing cash position operations receivables other receivables position
Slide 19: Strategy and outlook
Strategy and outlook
Slide 20: Key strategic areas (1/2)
Key strategic areas (1/2) Research laboratories Increase the market share by further strengthening competitive advantages, targeting > 50% Continue innovating to penetrate new applications Promote Riber's new processes through partnerships with laboratories Industrial firms Production MBE: prepare t
Slide 21: Key strategic areas (2/2)
Key strategic areas (2/2) Services and accessories Double revenues from the installed base to provide a significant recurring contribution to consolidated revenues through investments: Marketing: identify new attractive products through innovation Sales: increase the recurrence of coverage for our c
Slide 22: Favorable outlook for 2018
Favorable outlook for 2018 Order book at Dec. 31 (€m) 25.8 8.7 18.0 4.9 8.8 3.7 12.2 5.5 2016 2017 Systems Services and accessories Cells and sources Further commercial success since the beginning of the year Targeting year-on-year revenues growth of at least 15% for 2018 RIBER – General Presentatio
Slide 23: Stock market data
Stock market data
Slide 24: Share price
Share price Source: Euronext Market capitalization: €79m (€3.72 per share at April 9, 2018) RIBER – General Presentation – April 2018 24
Slide 25: Shareholding structure
Shareholding structure Listed on EURONEXT PARIS since 2000 Shareholders Source: custodian filings at Dec 31, 2017 Part of the CAC Small, CAC Technology and CAC T. HARD. & EQ. indices ISA Finances, Socodol, ISIN: FR0000075954 Mr and Mrs Raboutet 20.49% Reuters: RIBE.PA Float 57.17% Bloomberg: RIB:FP
Slide 26: Questions and answers
Questions and answers