Financial presentation. February 2014

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Transcription:

Financial presentation February 2014 1

Contents Profile Strategy Outlook Stock market data 2

Profile

RIBER in brief World leader for dedicated semiconductor alloy production and complex material deposition systems MBE (Molecular Beam Epitaxy) systems Equipment for producing CIGS solar cells, OLED screens and new-generation microprocessors initial business diversification High-performance solutions for microelectronics, nanoelectronics and photonics Quicker microprocessors and memory Low-consumption and high-intensity lighting Fine sensors (luminosity, magnetism, molecular structure, etc.) AsGa on silicon for photonic applications Major technological expertise, recognized by the market's leading players 4

MBE: presence upstream from the value chain Substrate or wafer RF electronics RF components for telephony and telecommunications Epitaxy systems Optoelectronics Sensors Lasers and diodes for fiber-optic Instrumentation and lighting Sensors for night vision and various detectors Solar cells Source materials Epiwafers Processed epiwafers Electronic devices Final applications 5

Integrated leading-edge industrial firm Development around three product lines Molecular beam epitaxy (MBE) machines Service contracts, MBE cells and spare parts Material deposition industrial tools and effusion cells MBE cells OLED cells Cells and accessories Technical and scientific support Technical support on request for system upgrades Curative and preventative maintenance service 72% of 2013 revenues 27% of 2013 revenues 1% of 2013 revenues MBE business: 99% of 2013 revenues Selenium deposition tools for producing solar panels 6

Diversified growth Change in revenues since 2008 ( M) 29.0 27.4 19.3 17.3 20.7 23.5 2008 2009 2010 2011 2012 2013 Research machines Production machines After-sales services and MBE cells OLED Solar 7

Global base of leading clients University laboratories and research centers (~60% of business) Industrial firms from electronics, new energies and lighting sectors (~40% of business) 8

Balanced geographical markets Breakdown of installed base of Riber MBE systems 34% 32% 35% Production site Commercial subsidiaries Sales office Agents 9

Balanced geographical mix Breakdown of revenues by region at 31 december 2012 at 31 december 2013 16% 27.4 M 42% 24% 23.5 M 31% 42% 45% Europe Asia Americas 95% of sales for export 10

Development of profitability Change in net income since 2008 ( M) 2008 2009 2010 2011 2012 5,0 15% 4,0 13% 3,0 9% 2,0 4.3 7% 8% 1,0 2% 1.8 1.9 3% 0,0 0.4-1.0-2% -1,0-5% Net income Net margin rate -2,0-7% 11

Sound balance sheet (at June 30, 2013 - M) Assets Liabilities Fixed assets Financial assets Shareholders' equity Inventories Work-in-progress Trade receivables Other current assets Cash and cash equivalents 35.0 Non-current provisions Trade payables Client advances Other operating liabilities 12

Strategy

Challenges for the electronics and energy markets Increased needs for energy, mobility and data exchanges Search for greater efficiency with reduced environmental impacts Riber, unique technological expertise to meet current and future market challenges 14

2015 growth strategy: 40 M in revenues Further strengthening the MBE Systems range New applications Clusters and instrumentation 20 M MBE: Developing the Services / Cells business Stronger sales drive Rationalization of the range of MBE cells 10 M 30 M Establishing a presence on New Markets Solar: CIGS Flat screens: OLED New markets: 10 M Harnessing new OEM MBE system concepts Release of new SEMI standard machines 15

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 MBE: differentiated market segments 50% 40% 30% 20% 10% 0% -10% -20% -30% 35 30 25 20 15 10 5 0 Annual growth rate (AsGa) R&D MBE market (number of systems per year) Source: Analysys Production: R&D: Cyclical market Annual growth of around 3% between 2013 and 2016 for our clients Consolidation of players and surplus production capacity in 2012 Relatively stable market, with 16% growth forecast between 2013 and 2016 Riber number 1, with a market share of 55% Geographical diversification 16

Micro electronics ~1 cm² Coating ~10,000 cm² Substrate size New markets: diversification as an OEM manufacturer Highvacuum Vacuum Thin Film - Photovoltaic Light - OLED TV - OLED Screen - OLED OEM 700 cm² RIBER MBE system 17

Meeting industrial energy efficiency challenges Thin film OLED mobile Thin film battery Thin film solar cells Producing energy Storing energy Smart energy Thin film OLED lighting Thin film OLED TV 18

Thin-film technology, at the heart of the energy revolution OLED (Mobile TV Lighting) Thin film stacking Mass production Solar cells High productivity Vacuum evaporation Battery (Li-S) Linear sources Riber's know-how 19

Products tailored to expectations

OLED strong market growth OLED display market Two major players on the OLED screen market: Samsung and LG Chinese players developing rapidly Technological obstacles: Cost price: AI use Gen 8 consistency (TV) Screen reliability & stability First reasonably-priced TVs in 2014 Riber has developed a full range of cells Riber Korea set up in 2013 21

OLED emergence of high-potential activities Strategic target of 10 M achieved in 2011 OLED: extremely cyclical market First wave of investments completed with Riber cells Second wave expected from 2014 Riber: a model for each use Major R&D investments to accompany the market's growth Creation of a subsidiary in South Korea OLED production units 2012 2013 2014 2015 Q3 Q4 Q1 Q2 Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Samsung SMD A1 & A2 In operation Riber cells installed SMD A2E In operation Riber cells installed + Korean cells SD V1 - Gen 6 SD A3 - Gen 6 LG LG M2 Phase 1 - Gen 8 In operation YAS cells (LG capital) LG M2 Phase 2 - Gen 8 LG M2 Phase 3 - Gen 8 Source : Displaysearch 22

Photovoltaic a still immature market Concentrators (MBE) CIGS (OEM) 23

Photovoltaic a strategic market for Riber Riber present on two flagship technologies: Concentrators (MBE) CIGS (OEM) Global demand doubling every 2-3 years Massive overcapacity in terms of supply on "traditional" silicon technologies Riber maintaining its objectives for growth Sustained R&D drive: New production system Full range of low and hightemperature linear cells 24

Outlook

Order book at end-december 12.0 11.7 0.2 0.2 1.7 1.3 7.0 0.1 10.1 10.2 2.8 4.0 ( M) dec-12 juin-13 dec-13 Systems Components and after-sales service Cells 26

2013 Outlook Positive net income 27

Stock market data

Change in the share price Market capitalization: 42 M ( 2.18 per share at Feb 25, 2014) Source: NYSE-Euronext 29

Breakdown of shareholders Listed on NYSE-EURONEXT Paris since 2000 Part of the CAC Small, CAC Mid & Small, CAC Technology and CAC T. HARD. & EQ indices Float 41.0% Shareholding Public NYSE-Euronext information NG Investments and Noël Goutard 28.9% ISIN: FR0000075954 Reuters: RIBE.PA Bloomberg: RIB FP Certification by OSEO-ANVAR, the dedicated French innovation agency, renewed in July 2012, enabling it to qualify for French innovation mutual funds (FCPI) ISA Finances, Socodol and Mr and Mrs Raboutet 15.0% Ormylia SAS and Jacques Kielwasser 15.1% 30