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.