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26 Feb 2015

Besi Posts 2014 Revenue and Net Income of € 378.8 Million and € 71.1 Million, Up 48.6% and 341.1%, respectively, vs. 2013. Q4-14 Profit Exceeds Expectations. Cash Dividend of € 1.50 per Share Proposed for 2014

Duiven, the Netherlands, February 26, 2015 - BE Semiconductor Industries N.V. ("the Company" or "Besi") (Euronext Amsterdam: BESI; OTCQX: BESIY), a leading manufacturer of assembly equipment for the semiconductor industry, today announced its results for the fourth quarter and year ended December 31, 2014.

Key Highlights Q4-14

  • Revenue of € 89.0 million, down 14.0% vs. Q3-14 but up 67.8% vs. Q4-13 and within guidance
  • Orders of € 81.4 million, down 10.5% vs. Q3-14 but up 42.2% vs. Q4-13. Order strength continues in seasonally weak quarter
  • Gross margins of 43.8% vs. 45.3% in Q3-14 are at high end of guidance. Up significantly vs. 40.1% in Q4-13
  • Net income of € 19.7 million, down € 1.8 million vs. Q3-14 due to sequential revenue decrease. Up € 18.3 million vs. Q4-13 due to revenue growth, gross margin expansion, cost controls and lower effective tax rate
  • Net margins reach 22.2% in Q4-14 vs. 20.8% in Q3-14 and 2.7% in Q4-13


Key Highlights FY-14

  • Revenue of € 378.8 million, up 48.6% vs. FY-13. Annual growth benefits from strategic positioning in leading smart phone and automotive supply chains and more robust industry environment
  • Order growth of 61.8% vs. FY-13 reflects customer capacity expansion, new device introductions and market share gains in advanced packaging applications
  • Gross margins increase to 43.8% vs. 39.8% in FY-13 due to sales growth, increased efficiencies from Asian production transfer and benefit of lower euro vs. USD
  • Net income of € 71.1 million, up € 55.0 million vs. FY-13. Net margins increase to 18.8% vs. 6.3%
  • Proposed cash dividend of € 1.50 per share for FY-14. Up 355% vs. FY-13



  • Q1-15 revenue anticipated to be up approximately 0-5% vs. Q4-14 and by 27-34% vs. Q1-14 reflecting continued order strength and favorable market position in a seasonal trough revenue period
  • Gross margins will range between 46-48% vs. the 43.8% realized in Q4-14


To read the full version of our press release, please download the PDF file.


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