Duiven, the Netherlands, July 27, 2021 - 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, 2021.

Key Highlights Q2-21

• Revenue of € 226.1 million, up 57.9% vs. Q1-21 and up 81.9% vs. Q2-20 due to broad based growth across end-user and geographic markets with particular strength in high-end mobile applications. Exceeded guidance due to higher than anticipated shipments from backlog

• Orders of € 200.2 million, down 38.8% vs. record levels achieved in Q1-21 related to significant Q1-21 smartphone capacity build. Up 97.6% vs. Q2-20 due primarily to increased demand for high performance computing, mainstream electronics and automotive applications

• Gross margin of 62.1%, up 3.9 points vs. Q1-21, exceeded guidance primarily due to more favorable product mix and labor efficiencies from significantly higher revenue. Slightly higher than Q2-20 despite adverse forex influences and additional costs to scale Besi’s production capacity

• Net income of € 93.5 million grew € 55.9 million (148.7%) vs. Q1-21 and € 53.7 million (134.9%) vs. Q2-20 primarily due to significantly higher revenue, more favorable product mix and cost control efforts. Net margin increased to 41.3% vs. 26.3% in Q1-21 and 32.0% in Q2-20

Key Highlights H1-21

• Revenue of € 369.3 million, up 71.3% vs. H1-20 reflecting strong demand across end-user markets, geographies and customers and favorable market conditions

• Orders of € 527.3 million grew € 307.4 million, or 139.8%, primarily due to strong mobile build with particular strength in Q2-21 for mainstream electronics, automotive and computing applications

• Gross margin reached 60.5%, up 0.8 points vs. H1-20 primarily due to Besi’s strong market position, more favorable product mix and increased labor efficiencies, partially offset by adverse forex movements

• Net income of € 131.1 million increased € 77.4 million, or 144.1%, vs. H1-20. Net margin grew to 35.5% vs. 24.9% in H1-20

• Net cash increased by 120.8% vs. Q2-20 to reach € 206.7 million

• Share buyback program increased by € 60 million to € 185 million and extended to October 2022

Outlook  

• Q3-21 revenue estimated to decrease by approximately 5-15% vs. Q2-21 consistent with seasonal trends. Gross margin anticipated to range between 60-62%

 

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