Riber: outlook confirmed following solid 1st half-year results

(CercleFinance.com) - On Wednesday, Riber confirmed its outlook for 2024, in the wake of solid first-half results that sent its share price soaring.


The semiconductor equipment supplier reported 13% growth in half-year sales, to 13.7 million euros.

Its gross margin rose by 21% to 4.8 million euros (or 34.8% of sales, compared with 32.3% a year earlier), giving a breakeven operating result for the first six months of the year.

Despite the traditionally unfavorable seasonality of its sales in the first half of the year, the molecular beam epitaxy (MBE) specialist managed to post a net profit of 0.2 million euros for the period.

In its press release, the company also reports a sharp increase (+18%) in its order book, which stood at 36 million euros at June 30.

For 2024, the company is still forecasting sales in excess of 40 million euros, accompanied by growth in profitability.

In a reaction note, analysts at TP ICAP Midcap maintained their buy recommendation on the stock, with a price target of three euros.

Our innovation strategy will enable us to maintain our leadership in our niche market of compound semiconductors", emphasized the brokerage firm.

Listed on Euronext Paris, the Riber share gained around 1.5% following this publication, bringing its gains since the start of the year to over 39%.

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