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23 Feb 2017

Besi Reports Strong Q4-16 Revenue and Net Income of € 93.1 Million and € 16.7 Million; Results Exceed Expectations, Solid 2016 Performance with Revenue and Net Income Up 7.5% and 33.3% vs. 2015, Proposed 2016 Dividend of € 1.74 per Share.

Duiven, the Netherlands, February 23, 2017 - BE Semiconductor Industries N.V. (the “Company" or "Besi") (Euronext Amsterdam: BESI; OTC markets: BESIY, Nasdaq International Designation), a leading manufacturer of assembly equipment for the semiconductor industry, today announced its results for the fourth quarter and year ended December 31, 2016.

Key Highlights Q4-16

  • Revenue of € 93.1 million, down 1.3% vs. Q3-16 but up 19.7% vs. Q4-15. Better than guidance due to higher epoxy and flip chip die bonding shipments for mobile and automotive applications
  • Orders of € 91.4 million, up 17.0% vs. Q3-16 and 18.2% vs. Q4-15 as a result of broad based demand for Besi's advanced packaging portfolio and improved industry conditions
  • Gross margin reaches 53.2%. Up vs. 50.5% in Q3-16 and 50.0% in Q4-15 due primarily to material cost efficiencies and forex benefits
  • Net income of € 16.7 million is up € 0.1 million vs. Q3-16 and € 7.0 million vs. Q4-15
  • Net margin reaches 18.0% in Q4-16 vs. 17.6% in Q3-16. Up significantly vs Q4-15 (12.4%) due primarily to revenue growth, operating leverage and cost control efforts
  • Financial position enhanced. Net cash up € 31.6 million (23.2%) vs. Q4-15 to reach € 168.1 million
  • € 125 million 2.5% Senior Unsecured Convertible Notes placed to help fund, amongst others, future growth


Key Highlights 2016/2015

  • Revenue of € 375.4 million, up 7.5% primarily as a result of increased demand by Asian customers for Besi's high end and mainstream assembly solutions and improved industry conditions
  • Orders up 7.3% primarily due to higher demand for new advanced packaging capacity, smart phone features and automotive electronics
  • Gross margin rose to 51.0% vs. 48.8% principally as a result of increased material and labor cost efficiencies, market position and forex benefits
  • Net income of € 65.3 million, up € 16.3 million. Net margin increased to 17.4% vs. 14.0% in 2015
  • 2016 dividend of € 1.74 proposed for May AGM (includes € 0.35 special dividend). Up 45% vs. 2015



  • Q1-17 revenue expected to increase 15-20% vs. Q4-16. Industry upturn continues. Orders to date in Q1-17 significantly exceed Q4-16 levels


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

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