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25 Oct 2018

BE Semiconductor Industries N.V. Announces Q3-2018 Results. Revenue and Net Income of € 116.7 Million and € 29.3 Million, Respectively. Operating Profit Exceeds Expectations. Orders Up 25.0% vs. Q2-18

Duiven, the Netherlands, October 25, 2018 - 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 third quarter and nine months ended September 30, 2018.

Key Highlights Q3-18

  • Revenue of € 116.7 million at midpoint of guidance. Down 27.6% and 26.7% vs. Q2-18 and Q3-17, respectively. Lower die bonding shipments for mobile applications were partially offset by growth in automotive end user markets
  • Orders of € 107.9 million were up 25.0% vs. Q2-18 due to higher bookings for mobile applications as well as increased demand for high end logic and memory markets. Down 33.2% vs. Q3-17 due primarily to reduced mobile demand and less favorable market conditions
  • Gross margin of 58.0% is higher than Q2-18 (56.5%) and above guidance despite lower revenue levels due primarily to more favorable product mix
  • Operating expenses down 8.5% vs. Q2-18 due primarily to lower temporary headcount and personnel costs. Down 4.3% vs. Q3-17. Better than prior guidance
  • Net income of € 29.3 million and net margin of 25.1% reached in face of challenging market conditions
  • Net cash up € 49.9 million (+45.3%) vs. Q2-18 to reach € 160.1 million

 

Key Highlights YTD-18/YTD-17

  • Revenue of € 432.7 million, down 1.5% reflecting lower die bonding shipments for mobile applications partially offset by strength in computing and automotive end markets
  • Orders decreased by 24.7% due primarily to reduced demand for high end smart phone capacity post significant 2017 ramp and less favorable market conditions
  • Gross margin decreased slightly to 56.9% vs. 57.4%
  • Net income of € 113.5 million declined 12.4% vs. YTD-17. Net margin of 26.2% remained at peer leading levels

 

Outlook

  • Q4-18 revenue estimated to decrease 20%-25% vs. Q3-18 reflecting typical H2 seasonal patterns and weaker assembly equipment market conditions


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

Contact Us

Investor Relations Besi

Tel: +31 26 319 4500

investor.relations@remove-mebesi.com

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