Duiven, the Netherlands, February 19, 2026 - BE Semiconductor Industries N.V. (the “Company" or "Besi") (Euronext Amsterdam: BESI; OTC markets: BESIY), a leading manufacturer of assembly equipment for the semiconductor industry, today announced its results for the fourth quarter and year ended December 31, 2025.

Key Highlights Q4-25

• Revenue of € 166.4 million increased 25.4% vs. Q3-25 and 8.5% vs. Q4-24 primarily due to higher shipments for 2.5D AI-related computing and photonics applications

• Orders of € 250.4 million up 43.3% vs. Q3-25 and 105.4% vs. Q4-24 due principally to a broad-based increase in demand by Asian subcontractors for 2.5D datacenter applications, renewed capacity purchases for photonics applications and a significant increase in hybrid bonding orders

• Gross margin of 63.9% increased 1.7 points vs. Q3-25 primarily due to a more favorable product mix. Q4-25 gross margin was relatively flat vs. Q4-24

• Net income of € 42.8 million increased 69.2% vs. Q3-25 due to higher revenue, increased gross margins and lower than anticipated operating expense growth. Similarly, Besi’s net margin of 25.7% increased 6.7 points vs. Q3-25.  Vs. Q4-24, net income and net margin decreased 27.8% and 12.9 points due to the absence of an € 18.2 million net tax benefit recognized in Q4-24

• Strong liquidity position at year end with cash and deposits of € 543.0 million and net cash of € 36.0 million. Vs. Q3-25, cash and deposits and net cash increased by € 24.4 million and € 43.8 million, respectively

Key Highlights FY 2025

• Revenue of € 591.3 million down 2.7% vs. 2024 principally due to broad-based weakness in  mobile, automotive and industrial end-user markets partially offset by increased revenue from Asian subcontractors for AI-related datacenter and photonics applications

• Orders of € 685.0 million rose 16.8% due to strength in AI-related 2.5D demand for datacenter applications by Asian subcontractors and renewed capacity purchases for photonics applications

• Gross margin of 63.3% decreased 1.9 points due primarily to a 12% decrease in the value of the US dollar versus the euro in the first half year

• Net income of € 131.6 million declined 27.7% due primarily to lower gross margins, higher interest expense, net and an increased effective tax rate

• Proposed dividend of € 1.58 per share. Represents payout ratio of 95%

Q1-26 Outlook

• Revenue expected to increase 5%-15% vs. the € 166.4 million reported in Q4-25

• Gross margin expected to range between 63%-65% vs. the 63.9% realized in Q4-25

• Operating expenses expected to grow 10%-15% vs. the € 50.0 million reported in Q4-25 primarily due to higher R&D spending

 

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