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27 Jul 2017

Besi Posts Strong Q2-17 and H1-17 Results; Q2-17 Revenue of € 170.0 Million and Net Income of € 52.4 Million Are Up 56% and 118%, Respectively, vs. Q2-16; H1-17 Revenue and Net Income Up 49% and 140%, Respectively, vs. H1-16

Duiven, the Netherlands, July 27, 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 second quarter and first half year ended June 30, 2017.

Key Highlights Q2-17

  • Revenue of € 170.0 million, up 54.3% vs.Q1-17 and 56.0% vs. Q2-16 due primarily to favorable industry conditions and higher die bonding shipments for smart phone applications. Above guidance
  • Orders of € 130.1 million, down 45.7% vs. Q1-17 post large capacity build in Q1-17 but up 29.5% vs. Q2-16 due to broad based growth with particular focus on cloud server and automotive applications
  • Gross margin rose to 57.3%. Above guidance. Up 1.6% vs. Q1-17 and 6.4% vs. Q2-16 primarily due to Besi's strong market position, increased production efficiencies and a more favorable product mix
  • Net income of € 52.4 million grew 116%, or € 28.1 million, vs. Q1-17 and 118%, or € 28.4 million, vs. Q2-16 due to strong revenue growth, continued gross margin improvement and cost controls
  • Net margins also increased significantly to 30.8% vs. 22.0% in both Q1-17 and Q2-16
  • Net cash and deposits increased by € 20.8 million, or 18.8% year over year to reach € 131.5 million

 

Key Highlights H1-17

  • Revenue of € 280.2 million, up 49.0% vs. H1-16 due to substantially higher sales of die bonding systems for smart phone, and to a lesser extent, automotive applications
  • Orders increased by 81.0% due to improved industry conditions and increased demand for Besi's advanced packaging systems serving smart phone, automotive and cloud server applications
  • Gross margin rose to 56.7% vs. 50.2% principally as a result of increased production efficiencies and forex benefits
  • Net income of € 76.7 million grew € 44.7 million vs. H1-16 (+140%) and exceeded full year 2016 by 17.5%. Net margin expanded to 27.4% vs. 17.0% in H1-16

 

Outlook

  • Q3-17 revenue estimated to decrease 5-15 % vs. Q2-17 consistent with typical H2 seasonal trends. Revenue and operating income expected to substantially exceed Q3-16 level



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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