Key Highlights Q2-19

• Revenue of € 92.7 million up 13.9% vs. Q1-19. Above guidance due to higher than anticipated shipments to Asian subcontractors. Down 42.5% vs. Q2-18 principally as a result of adverse industry environment and customer caution in the face of global trade tensions
• Orders of € 82.7 million, approximately flat vs. Q1-19, reflecting stable customer demand levels. Down 4.2% vs. Q2-18
• Gross margin of 56.0% at midpoint of guidance. Up slightly vs. Q1-19 (0.1 point) and down slightly vs. Q2-18 (0.5 points) despite the significant year over year revenue decrease
• Net income increases by 98.9% vs. Q1-19 to reach € 18.9 million driven primarily by increased revenue and a 12.7% decrease in operating expenses. Down € 28.3 million (-60.0%) vs. Q2-18
• Net margin rose strongly to 20.4% vs. 11.7% in Q1-19. Down compared to 29.3% in Q2-18

 

Key Highlights H1-19

• Revenue of € 174.1 million, down 44.9% vs. H1-18 consistent with ongoing weakness in assembly equipment market. Decrease broad based across Besi's product portfolio and end markets
• Gross margin reached 55.9% vs. 56.5% in H1-18. Attractive levels maintained resulting from Besi's timely re-alignment of production and supply chain activities to customer demand
• Net income of € 28.4 million decreased by € 55.9 million vs. H1-18 (-66.3%). Net margin of 16.3% vs. 26.7% in H1-18

 

Outlook

• Q3-19 revenue estimated to decrease by approximately 10% vs. Q2-19 as market weakness extends into H2-19. Gross margin anticipated to stay in 55%-57% range

 

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