Q3-23 Revenue and Net Income of € 123.3 Million and € 35.0 Million, Respectively. Q3-23 Orders of € 127.3 million, Up 13.1% vs. Q2-23. Next € 60 Million Share Repurchase Program Initiated.

Duiven, the Netherlands, October 26, 2023 - BE Semiconductor Industries N.V. (the “Company" or "Besi") (Euronext Amsterdam: BESI; OTC markets: BESIY), a leading manufacturer of assembly equipment for the semiconductor industry, today announced its results for the third quarter and nine months ended September 30, 2023.

Key Highlights Q3-23
Revenue Q3-23 of € 123.3 million down 24.1% vs. Q2-23 due to decreased smartphone shipments post H1-23 seasonal capacity build. Partially offset by increased demand for computing and automotive applications. Down 27.0% vs. Q3-22 due primarily to lower demand for computing applications

Orders Q3-23 of € 127.3 million up 13.1% vs. Q2-23 and 1.6% vs. Q3-22 principally due to higher orders for computing, hybrid bonding and photonics applications partially offset by lower demand for automotive/industrial applications

Gross margin Q3-23 of 64.6% down 1.0 points vs. Q2-23 but above prior guidance. Up 2.3 points vs. Q3-22 due primarily to market position and cost control efforts

Net income Q3-23 of € 35.0 million decreased 33.5% vs. Q2-23 while net margins declined to 28.4% vs. 32.4% due primarily to lower revenue and gross margins partially offset by a 15.6% decrease in operating expenses. Compared to Q3-22, net income declined 38.9% due primarily to lower revenue levels

Total cash of € 391.2 million and net cash of € 90.2 million at September 30, 2023 increased by 3.4% and 21.9%, respectively, vs. June 30, 2023 due to increased cash flow from operations


Key Highlights Year to Date 2023
Revenue YTD-23 of € 419.2 million declined 28.4% vs. YTD-22 principally due to lower revenue with particular weakness in computing applications by IDMs and Asian subcontractors

see & read more on
https://www.besi.com/investor-relations/press-releases/details/be-semiconductor-industries-nv-announces-q3-23-results/


tijd 17.28 d.d. 26 okt. 2023
Besi EUR 99,70 +11,42 vol. 1.053.936