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23 Jul 2015

Besi Posts Strong Q2 and H1-15 Results. Significant Expansion of Net Cash Position vs. Q2-2014

Duiven, the Netherlands, July 23, 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 second quarter and first six months ended June 30, 2015.

Key Highlights Q2-15

  • Revenue of € 104.3 million, up 9.9% vs. Q1-15 due primarily to increased die attach and packaging systems sales for automotive, high end server and Chinese handset applications. Down 10.2% vs. Q2-14 primarily as a result of lower die attach sales for high end smart phone applications
  • Orders of € 91.9 million, down 11.8% vs. Q1-15 due to lower bookings for memory and smart phone applications. Down 26.0% vs. exceptionally strong Q2-14 as a result of large H1-14 smart phone capacity build
  • Gross margins declined slightly to 47.9% vs. 48.2% in Q1-15 (ex-restructuring benefit) but were up strongly vs. 43.2% in Q2-14 due to increased forex benefits and materials and labor cost efficiencies
  • Net income of € 15.5 million up 9.2% vs. € 14.2 million in Q1-15 (ex-restructuring benefit). Down € 7.4 million vs. Q2-14 due principally to increased TCB development costs and increased operating expenses from the rise of the CHF vs. euro
  • Net cash increased by € 28.9 million (46.2%) year over year to reach € 91.4 million even after € 56.9 million Q2-15 cash dividend payment


Key Highlights H1-15

  • Revenue of € 199.2 million, up 7.0% vs. H1-14 as a result of higher system sales for memory, high end server, automotive, China handset and solar plating applications
  • Orders decreased by 16.7% vs. H1-14 primarily due to lower bookings for high end smart phone applications
  • Gross margins increased to 48.4% vs. 42.9% in H1-14 due to higher revenue, increased foreign exchange benefits from decrease of euro vs. USD and material cost efficiencies
  • Net income of € 33.0 million, up € 3.1 million vs. H1-14. H1-15 net income of € 29.8 million ex restructuring benefit



  • Q3-15 revenue anticipated to decrease 15-20% vs. Q2-15 reflecting seasonal H2 order trends and less favorable industry environment


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

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