Key Highlights Q4-16

• Revenue of € 93.1 million, down 1.3% vs. Q3-16 but up 19.7% vs. Q4-15. Better than guidance due to higher epoxy and flip chip die bonding shipments for mobile and automotive applications
• Orders of € 91.4 million, up 17.0% vs. Q3-16 and 18.2% vs. Q4-15 as a result of broad based demand for Besi's advanced packaging portfolio and improved industry conditions
• Gross margin reaches 53.2%. Up vs. 50.5% in Q3-16 and 50.0% in Q4-15 due primarily to material cost efficiencies and forex benefits
• Net income of € 16.7 million is up € 0.1 million vs. Q3-16 and € 7.0 million vs. Q4-15
• Net margin reaches 18.0% in Q4-16 vs. 17.6% in Q3-16. Up significantly vs Q4-15 (12.4%) due primarily to revenue growth, operating leverage and cost control efforts
• Financial position enhanced. Net cash up € 31.6 million (23.2%) vs. Q4-15 to reach € 168.1 million
• € 125 million 2.5% Senior Unsecured Convertible Notes placed to help fund, amongst others, future growth

 

Key Highlights 2016/2015

• Revenue of € 375.4 million, up 7.5% primarily as a result of increased demand by Asian customers for Besi's high end and mainstream assembly solutions and improved industry conditions
• Orders up 7.3% primarily due to higher demand for new advanced packaging capacity, smart phone features and automotive electronics
• Gross margin rose to 51.0% vs. 48.8% principally as a result of increased material and labor cost efficiencies, market position and forex benefits
• Net income of € 65.3 million, up € 16.3 million. Net margin increased to 17.4% vs. 14.0% in 2015
• 2016 dividend of € 1.74 proposed for May AGM (includes € 0.35 special dividend). Up 45% vs. 2015

 

Outlook

• Q1-17 revenue expected to increase 15-20% vs. Q4-16. Industry upturn continues. Orders to date in Q1-17 significantly exceed Q4-16 levels

 

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