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BE Semiconductor Industries N.V. (Besi), traded as BESIY, is a global leader in semiconductor packaging and assembly equipment. The company's core business includes developing and manufacturing equipment for the advanced packaging of semiconductors used in various industries such as automotive, consumer electronics, and telecommunications. With a focus on innovation and quality, Besi has achieved significant milestones in recent years, showcasing strong financial performance and strategic partnerships with key players in the semiconductor industry. Besi's portfolio includes cutting-edge products that cater to the evolving demands of the market, ensuring its position as a prominent player in the semiconductor equipment sector.
BE Semiconductor Industries N.V. (Besi) announced Q2-24 results. Revenue was €151.2 million, up 3.3% from Q1-24 but down 7.0% year-over-year due to weakness in smartphone markets. Net income increased 23.2% from Q1-24 to €41.9 million but decreased 20.3% year-over-year. Orders rose significantly to €185.2 million, a 64.5% increase year-over-year due to growth in hybrid bonding and AI-related applications. Gross margin decreased to 65.0% mainly due to product mix. For H1-24, revenue was €297.5 million, up 0.5% year-over-year. However, net income declined by 12.9% to €75.9 million due to higher R&D expenses and share-based compensation. Besi's net cash stood at €74.4 million, reflecting dividends and convertible note conversions. The outlook for Q3-24 is flat revenue with gross margins between 64-66%. The company also completed a €350 million Senior Note offering to fund future growth.
BE Semiconductor Industries N.V. (Besi) reported Q1-23 revenue of €133.4 million, down 3.1% from Q4-22 and down 34.1% year-over-year, reflecting industry weakness, particularly in computing markets. Orders fell 21.3% from Q4-22 to €142.0 million, with a 30.7% decline versus Q1-22. Gross margin improved to 64.2%, up 1.9 points from Q4-22, due to favorable product mix and cost initiatives. Net income was €34.5 million, a 14.2% decrease sequentially, primarily due to increased share-based compensation. Despite challenges, the outlook for Q2-23 anticipates a revenue growth of 15-25% compared to Q1-23. Besi maintains a strong cash position with €644.9 million in cash and deposits, reflecting a decrease of 7.4% year-over-year due to significant capital allocations to shareholders.
BE Semiconductor Industries N.V. (Besi) reported Q4-22 revenue of €137.7 million, down 18.4% from Q3-22 and 19.8% year-over-year, attributed to reduced shipments for high-performance computing and mobile markets. Orders surged 44.1% sequentially to €180.5 million, boosted by high-end smartphone applications. Full-year 2022 revenue was €722.9 million, a 3.5% decrease compared to 2021, while net income fell 14.8% to €240.6 million. A proposed dividend of €2.85 per share reflects a 93% payout ratio. The company expects Q1-23 revenue to decline 0-10% amid ongoing market challenges.
BE Semiconductor Industries N.V. (Besi) reported Q3-22 results with revenue of €168.8 million, down 21.1% from Q2-22 and 19.0% year-over-year. Net income decreased by 24.2% to €57.3 million, attributed to reduced demand from Chinese subcontractors and lower mobile application shipments. YTD-22 revenue rose 1.3% to €585.1 million, while net income fell 6.9%. Orders plunged 34.4% year-to-date due to market softness. Despite a challenging environment, gross margin improved to 62.3%. Looking ahead, Q4-22 revenue is projected to decrease 15-25% compared to Q3-22.
BESI reported Q2-22 revenue of €214.0 million, a 5.7% increase from Q1-22, and net income of €75.6 million, up 12.0% sequentially. Year-over-year, revenue declined by 5.4% due to lower demand for high-end smartphones. Orders fell 25.2% from Q1-22 to €153.1 million, driven by weakened market conditions. Despite a net income increase of 12.0% over Q1-22, it was down 19.1% compared to Q2-21. BESI announced a new €300 million share repurchase program starting August 2022. The outlook for Q3-22 predicts a 20-30% revenue decrease, reflecting current market conditions.
Besi reported Q1-22 revenue of €202.4 million, a 41.3% increase year-over-year, driven by strong demand in high-performance computing (HPC) and automotive sectors. Net income also rose 79.5% to €67.5 million. Orders reached €204.8 million, up 1.1% from Q4-21 but down 37.4% from Q1-21 due to decreased mobile application demand. Gross margin improved to 60.1%. The company plans to increase share repurchases from €15 million to €25 million per quarter, reflecting confidence in cash flow generation. For Q2-22, revenue is expected to grow by ~10%.
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