BE Semiconductor Industries NV Analysis & Company Information - GlobalData

2022-05-12 11:19:03 UTC | Information & Communication Technology
BE Semiconductor Industries NV Analysis & Company Information - GlobalData
BE Semiconductor Industries NV: Overview
BE Semiconductor Industries NV (Besi) manufactures, develops, markets and sells assembly equipment for global semiconductor and electronics industries. The company’s product portfolio comprises die attach equipment, packaging equipment, and plating equipment. It also offers after-sales services including spares, tooling, and customer support. Besi serves assembly subcontractors, chip manufacturers, and electronics and industrial companies. The company’s products find application in mobile devices, automotive components and sensors, computing, data mining, cloud computing and peripherals, IoT, AI, VR and AR, advanced medical equipment, solar lithium battery, LED devices and renewable energy applications.

Key Highlights

Revenue of € 202.4 million, up 17.9% vs. Q4-21 primarily due to increased shipments for HPC applications including datacenter, advanced logic and hybrid bonding. At high end of prior guidance. Up 41.3% vs. Q1-21 due to increased demand for HPC and automotive applications

Orders of € 204.8 million rose 1.1% vs. Q4-21 due to increased demand for HPC applications, including follow-on hybrid bonding orders. Down 37.4% vs. Q1-21 due to reduced demand for high-end mobile applications post 2021 new product cycle and lower demand by Chinese subcontractors for mobile and mainstream electronics applications

Gross margin of 60.1% rose 3.4 points vs. Q4-21 due to absence of inventory charge recorded in Q4-21 and by 1.9 points vs. Q1-21 due to production efficiencies related to higher revenue levels

Operating income grew 21.6% and 68.8% vs. Q4-21 and Q1-21, respectively, while operating margins rose to 40.4% vs. 39.1% and 33.8% in each of Q4-21 and Q1-21, reflecting solid business execution

Net income of € 67.5 million rose by 0.6% vs. Q4-21 and by 79.5% vs. Q1-21. Excluding share-based compensation, tax benefits and Q4-21 impairment charge, profit grew by 13.9% vs. Q4-21 and by 59.3% vs. Q1-21. Adjusted net margin of 37.3% in Q1-22 rose strongly vs. 33.1% realized in Q1-21.

Cash and deposits of € 696.6 million and net cash of € 407.0 continued to expand, rising 15.0% and 88.3%, respectively, vs. Q1-21
2021 Taiwan Semiconductor Manufacturing Mid-Year Review--Strategic SWOT Analysis, Performance, Capabilities, Goals and Strategies in the Global Information Technology, Services Industry

Financial and Strategic SWOT Analysis Review:


BE Semiconductor Industries NV (Besi) designs, manufactures, and markets assembly equipment for the semiconductor industry. Operational network, R&D, financial performance and liquidity position are the company's major strengths, even as, geographic concentration and dependence on customers remains a cause for concern. Global semiconductor market, collaboration with Applied Materials Inc and global IT hardware market are likely to offer growth opportunities to the company. However, regulations from RoHS and WEEE, intense competition and technological changes could affect its business operations.

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