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28 Jul 2016

Besi Reports Q2-16 Revenue of € 109.0 Million, Up 38% vs. Q1-16 and Net Income of € 24.0 Million, Up 200% vs. Prior Quarter. Results Exceed Expectations

Duiven, the Netherlands, July 28, 2016 - 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 second quarter and first half year ended June 30, 2016.

Key Highlights Q2-16

  • Revenue of € 109.0 million, up 38.0% vs. Q1-16 and 4.5% vs. Q2-15 primarily due to increased demand by Asian subcontractors for advanced packaging capacity, continued growth of automotive applications and increased share of mainstream electronics applications
  • Above revenue guidance primarily due to earlier than anticipated system deliveries to Asian customers which were originally scheduled for Q3-16
  • Orders of € 100.5 million, down 3.3% vs. Q1-16 but up 9.4% vs. Q2-15
  • Gross margin increased to 50.9% vs. 49.2% in Q1-16 due to market position and labor cost efficiencies. Up 3.0% vs Q2-15 (47.9%)
  • Net income of € 24.0 million up € 16.0 million vs. Q1-16 and € 8.5 million vs. Q2-15. Net margin of 22.0% vs. 10.1% and 14.8% in Q1-16 and Q2-15, respectively
  • Net cash increased by € 19.3 million (+21.1%) vs. Q2-15


Key Highlights H1-16

  • Revenue of € 188.0 million, down 5.6% as sales for smart phone and other advanced packaging applications declined vs. H1-15
  • Orders increased by 4.2% primarily due to more favourable industry conditions and increased demand by Chinese and Taiwanese subcontractors for Besi's range of assembly solutions
  • Gross margin rose to 50.2% vs. 48.4% principally as a result of market position, increased material and labor cost efficiencies and forex benefits
  • Net income of € 32.0 million down € 1.0 million vs. H1-15. Adjusted H1-16 net income up € 2.3 million. Adjusted net margin of 16.9% vs 14.8% in H1-15


Outlook

  • Q3-16 revenue expected to decrease by 15-20% vs. Q2-16 due to typical seasonal factors. Revenue and operating profit forecast to exceed Q3-15 levels


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

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Investor Relations Besi

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investor.relations@remove-mebesi.com

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