Besi's mission is to become the world’s leading supplier of semiconductor assembly equipment for advanced packaging applications and to exceed industry average benchmarks of financial performance. Besi also strives to create long-term value for stakeholders and operate its business in a sustainable way respecting both the environment and society.

 

Summary strategy and long-term sustainable value creation model

Long-term success in the assembly equipment industry requires technological leadership, customer alignment, system reliability and high levels of accuracy in 24/7, high volume production environments. Other key factors include production flexibility and scalability in response to volatile shifts in demand for an industry whose cycle times have become ever shorter. We also recognize the importance of environmental, social and governance considerations in the development of our strategy such as our carbon footprint, the sustainable performance of our systems and the development of a business culture which is diverse, respects the rights of our employees and promotes the skills and talents of our personnel. Besi’s business strategy has been developed with these considerations in mind.

One of our top priorities is the maintenance of technological leadership in the advanced packaging segment of the industry. This is the most rapidly growing part of our business with the greatest potential for future growth. We aim to leverage Besi’s technological leadership position to generate ever higher levels of through-cycle revenue, profitability and cash flow via a highly scalable and flexible production model. Weekly analyses of order development and the supply chain combined with disciplined cost control efforts have enabled us to respond rapidly to changing market conditions, retain peer leading margins and generate high levels of cash flow to support a shareholder friendly capital allocation policy.

Besi’s Board of Management reviews its strategy on a regular basis. We engaged an independent consulting firm in each of 2016, 2019, 2021 and 2023 to help assess our strategic plan and long-term sustainable value creation model and formulate specific market, product, revenue and cost initiatives. The most recent plan assessment encompassed the period 2023-2027 and involved the participation of, and feedback from, various stakeholders such as extended management, employees, customers, the Supervisory Board and shareholders to help define key issues and initiatives. Besi’s development and execution of strategic initiatives has favorably influenced our organizational development, competitive position and financial performance in recent years.