BE Semiconductor Industries N.V. Announces Q1-26 Results

About this update from Be Semiconductor Industries N.v.

Q1-26 Orders of € 269.7 Million Up 104.5% vs. Q1-25 Revenue of € 184.9 Million and Net Income of € 51.6 Million Up 28.3% and 63.8%, Respectively, vs. Q1-25 DUIVEN, the Netherlands, April 23, 2026 (GLOBE NEWSWIRE) -- 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 first quarter ended March 31, 2026. Key Highlights Outlook   Richard W. Blickman, President and Chief Executive Officer of Besi, commented: “Besi reported strong first quarter results and advanced packaging orders in an improving industry environment. Revenue of € 184.9 million increased 28.3% versus Q1-25 due to higher shipments for high-end mobile and 2.5D AI photonics and datacenter applications. Q1-26 orders of € 269.7 million more than doubled versus Q1-25 due to broad based growth across all Besi’s end-user markets, with particular strength in hybrid bonding, mobile and photonics applications. In addition, orders increased by 7.7% versus Q4-25 due primarily to a significant increase in bookings for hybrid bonding systems from multiple customers and end-user applications. In addition, net income rose 20.6% and 63.8% versus Q4-25 and Q1-25, respectively, with net margin increasing to 27.9% versus 21.9% in Q1-25. Improved profitability this quarter was due primarily to enhanced revenue growth, disciplined expense management and the benefits of operating leverage in Besi’s business model. We realized a gross margin of 63.5% in Q1-26 as increased prices helped offset increased component and energy cost inflation. In addition, our liquidity position improved significantly with net cash growing by 186.9% versus Q4-25 to reach € 103.3 million reflecting improved profit and cash flow generation. Favorable order trends in Q1-26 reflect the strength of Besi’s advanced packaging market position for next generation AI applications, particularly for 2.5D and 3D assembly structures. Unit orders for hybrid bonding systems more than doubled versus Q4-25 and exceeded the prior quarterly peak reached in Q2-24 with respect to total units and order value. Growth was due primarily to a larger than anticipated capacity build this quarter by a customer and, to a lesser extent, repeat orders from a memory customer for HBM applications. In addition, we shipped two evaluation tools to a second memory customer for HBM applications and adoption increased to 20 customers overall. The outlook for hybrid bonding adoption also improved with a series of new product and use cases announced this year for logic, memory, co-packaged optics and consumer applications. Such announcements indicate that the pace of hybrid bonding adoption is increasing as we approach the timing for new AI related product introductions anticipated in the 2027-2030 period. Progress also continued on our TC Next agenda this quarter with two new orders received and adoption increasing to six customers. Besi’s business prospects for 2026 were also enhanced by renewed growth for high-end mobile and automotive applications. Our strategy is currently focused on supporting customer adoption of Besi’s wafer level assembly and 2.5D AI product portfolio and ramping the supply chain and production personnel necessary to meet increased order levels. We are also developing additional Vietnamese production capacity for mainstream assembly applications in order to free up incremental capacity in Malaysia for wafer level assembly production. Further, Besi is expanding its service and support efforts in Taiwan and Korea in anticipation of increased hybrid bonding activities in such regions. Based on our backlog and feedback from customers, we anticipate that Besi’s Q2-26 revenue will grow 30%-40% versus Q1-26 as revenue and order momentum continue versus the prior year period. In addition, gross margins are anticipated to increase to a range between 64%-66%. Operating expenses are anticipated to be flat to up 10% due to increased revenue and customer support activities. As a result, we anticipate a significant expansion of our Q2-26 net income and profit margins relative to Q1-26 and Q2-25.” Share Repurchase Activity During the quarter, Besi repurchased approximately 82,000 of its ordinary shares at an average price of € 173.83 per share for a total of € 14.2 million. Cumulatively, as of March 31, 2026, a total of € 25.5 million has been purchased under the current € 60 million share repurchase plan at an average price of € 154.40 per share. As of March 31, 2026, Besi held approximately 1.9 million shares in treasury equal to 2.4% of its shares outstanding.    Important Dates    Dividend Information*   * Subject to approval at Besi’s AGM on April 23, 2026 Basis of Presentation The accompanying Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as adopted by the European Union. Reference is made to the Summary of Significant Accounting Policies to the Notes to the Consolidated Financial Statements as included in our 2025 Annual Report, which is available on www.besi.com . Contacts: Richard W. Blickman, President & CEO Andrea Kopp-Battaglia, Senior Vice President Finance         Claudia Vissers, Executive Secretary/IR coordinator Edmond Franco, VP Corporate Development/US IR coordinator Tel. (31) 26 319 4500                         [email protected] About Besi Besi is a leading manufacturer of assembly equipment supplying a broad portfolio of advanced packaging solutions to the semiconductor and electronics industries. We offer customers high levels of accuracy, reliability and throughput at a lower cost of ownership with a principal focus on wafer level and substrate assembly solutions. Customers are primarily leading semiconductor manufacturers, foundries, assembly subcontractors and electronics and industrial companies. Besi’s ordinary shares are listed on Euronext Amsterdam (symbol: BESI). Its Level 1 ADRs are listed on the OTC markets (symbol: BESIY) and its headquarters are located in Duiven, the Netherlands. For more information, please visit our website at www.besi.com . Caution Concerning Forward-Looking Statements This press release contains statements about management's future expectations, plans and prospects of our business that constitute forward-looking statements, which are found in various places throughout the press release, including, but not limited to, statements relating to expectations of orders, net sales, product shipments, expenses, timing of purchases of assembly equipment by customers, gross margins, operating results and capital expenditures. The use of words such as “anticipate”, “estimate”, “expect”, “can”, “intend”, “believes”, “may”, “plan”, “predict”, “project”, “forecast”, “will”, “would”, and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. In addition, the financial guidance set forth under the heading “Outlook” contains forward-looking statements. While these forward-looking statements represent our judgments and expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from those contained in forward-looking statements, including any inability to maintain continued demand for our products; failure of anticipated orders to materialize or postponement or cancellation of orders, generally without charges; the volatility in the demand for semiconductors and our products and services; the adverse impacts on the global economy, financial markets, global supply chains and our operations as well as those of our customers and suppliers arising from the COVID-19 pandemic; failure to develop new and enhanced products and introduce them at competitive price levels; failure to adequately manage costs and expenses in line with revenue; loss of significant customers, including through industry consolidation or the emergence of industry alliances; lengthening of the sales cycle; acts of terrorism and violence; disruption or failure of our information technology systems; consolidation activity and industry alliances in the semiconductor industry that may result in further increased customer concentration, inability to forecast demand and inventory levels for our products; the integrity of product pricing and protection of our intellectual property in foreign jurisdictions; risks, such as changes in trade regulations, conflict minerals regulations, currency fluctuations, political instability and war, associated with substantial foreign customers, suppliers and foreign manufacturing operations, particularly to the extent occurring in the Asia Pacific region where we have a substantial portion of our production facilities; potential instability in foreign capital markets; the risk of failure to successfully manage our diverse operations; any inability to attract and retain skilled personnel, including as a result of restrictions on immigration, travel or the availability of visas for skilled technology workers; and the other risks detailed in the Risk Management section of our Annual Report. We expressly disclaim any obligation to update or alter these forward-looking statements for revisions or changes whether as a result of new information, future events or otherwise after the date of this release. In addition, the United States and other countries have recently levied tariffs and taxes on certain goods and could significantly increase or impose new tariffs on a broad array of goods. They have imposed, and may continue to impose, new trade restrictions and export regulations. Increased or new tariffs and additional taxes, including any retaliatory measures, trade restrictions and export regulations, could negatively impact end-user demand and customer investment in semiconductor equipment, increase Besi’s supply chain complexity and manufacturing costs, decrease margins, reduce the competitiveness of our products or restrict our ability to sell products, provide services or purchase necessary equipment and supplies. Any or all of the foregoing factor could have a material and adverse effect on our business, results of operations or financial condition. In addition, investors should consider those additional risk factors set forth in Besi's annual report for the year ended December 31, 2025 and other key factors that could adversely affect our businesses and financial performance contained in our filings and reports, including our statutory consolidated statements. We expressly disclaim any obligation to update or alter our forward-looking statements whether as a result of new information, future events or otherwise. ____________ 1 ) The calculation of the diluted income per share assumes the exercise of equity-settled share-based payments and the conversion of the convertible notes, if dilutive.  

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