BE Semiconductor Industries N.V. Announces Q2-26 and H1-26 Results

About this update from Be Semiconductor Industries N.v.

Q2-26 Revenue and Net Income of € 249.9 Million and € 89.0 Million, Respectively, Up 68.7% and 177.3%, Respectively, vs. Q2-25. Orders of € 292.9 million Up 128.8% vs. Q2-25 H1-26 Revenue and Net Income of € 434.7 Million and € 140.6 Million, Respectively, Up 48.8% and 121.1%, Respectively, vs. H1-25. Orders of € 562.6 million Up 116.5% vs. H1-25 DUIVEN, The Netherlands, July 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 second quarter and first half year ended June 30, 2026. Key Highlights Q2-26 Key Highlights H1-26 Q3-26 Outlook     * Reflects cash dividend payments of € 125.4 million and € 172.8 million in Q2-26 and Q2-25, respectively, and the redemption of Besi's 2029 Convertible Notes in Q2-26. Richard W. Blickman, President and Chief Executive Officer of Besi, commented: "Besi reported strong second quarter and first half 2026 results as favorable order momentum continued for both our traditional and wafer level assembly systems. For the first half year, Besi's revenue of € 434.7 million and net income of € 140.6 million increased by 48.8% and 121.1%, respectively, versus H1-25 primarily due to significantly expanded AI infrastructure spending, a modest recovery in traditional mobile and auto/industrial markets and disciplined overhead management. Similarly, net margins increased from 21.7% in H1-25 to 32.3% in H1-26 aided by improved gross margins and significant operating leverage in our business model as baseline operating expenses reduced from 30.0% of revenue in Q2-25 to 18.9% in Q2-26. Our net cash position at the end of Q2-26 increased by 58.8% versus March 31, 2026 to reach € 164.0 million. Growth was primarily due to the conversion into equity of Besi's € 175 million of Convertible Senior Notes due 2029 and strong cash flow generated from operations which offset the payment of € 125.4 million for the annual dividend in Q2-26. "H1-26 orders rose to € 562.6 million, an increase of € 302.7 million, or 116.5%, versus H1-25 due to broad based growth across all Besi end-user markets and products. Order growth was strong for photonics and datacenter applications and hybrid bonding capacity expansion for both current and next generation AI devices. We also received new orders for AI power management applications in Q2-26 from multiple customers. Overall, we estimate that system orders for AI applications rose to approximately 60% in H1-26 versus approximately 50% in H1-25. In addition, we saw renewed growth for high end smartphone applications in H1-26 versus cyclical lows reached in 2025 due primarily to incremental capacity purchases and new product introductions planned for 2026. "Progress continued on our wafer level assembly agenda this year. Hybrid bonding customer adoption increased from 15 at year end 2025 to 21 at the end of Q2-26, use cases increased for logic, memory, co-packaged optics and consumer applications and orders increased materially versus H1-25 as significant new capacity was added. In addition, there were multiple new product announcements made this year related to datacenter and consumer CPU applications utilizing hybrid bonding. Progress also was made on our TC Next agenda with increased revenue and customer adoption versus H1-25. "For the quarter, revenue of € 249.9 million increased by 68.7% and 35.2% versus Q2-25 and Q1-26, respectively. Growth versus Q2-25 was primarily due to increased AI spending for photonics, datacenter and hybrid bonding applications as well as increased demand for mobile applications. Additional hybrid bonding orders were received in Q2-26 from two repeat customers and one new hyperscaler customer. Similarly, orders of € 292.9 million rose by 128.8% versus Q2-25 and 8.6% versus Q1-26. Of note, Besi's orders for the last twelve months increased to a record € 987.6 million. Q2-26 net income of € 89.0 million increased by 177.3% versus Q2-25 and 72.5% versus Q1-26 as gross margins improved and operating expense growth was limited despite increased spending for development and customer support activities. Similarly, net margins increased to 35.6% versus 21.6% in Q2-25. "We see order momentum continuing in Q3-26 due to ongoing demand strength for current and future AI applications as well as improvement in Besi's traditional mainstream end-user markets. Customers indicate that we are in a multi-year AI capex cycle further supported by increased demand for agentic AI applications, which are driving increased demand for datacenter CPUs and many of our advanced packaging systems. Besi's strategy is currently focused on expanding our opportunities in wafer level assembly, increasing our penetration of CoWoS, CoPoS and photonics markets and ramping our supply chain and service/support capabilities in alignment with market conditions. "Based on our backlog and feedback from customers, we anticipate that Besi's Q3-26 revenue will increase by 10-15% versus Q2-26. In addition, gross margins are anticipated to decrease to a range of 63-65% due to a less favorable product mix than Q2-26. Operating expenses are anticipated to be flat to up 5% due primarily to increased development spending." Share Repurchase Activity During the quarter, Besi repurchased approximately 57,000 of its ordinary shares at an average price of € 257.58 per share for a total of € 14.7 million. Cumulatively, as of June 30, 2026, a total of € 40.1 million was purchased under the current € 60 million share repurchase plan at an average price of € 180.83 per share. On May 5, 2026, Besi exercised its early redemption option with respect to its € 175 million 1.875% Senior Unsecured Convertible bonds due 2029 (the "2029 Notes") which resulted in the conversion into equity during Q2-26 of all of the 2029 Notes outstanding and the issuance of 1.5 million shares held in treasury related thereto. As a result, Besi held approximately 0.3 million shares in treasury at June 30, 2026, equal to 0.4% of its shares outstanding. Important Dates 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. The financial guidance set forth under the heading "Outlook" contains such 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; 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 assembly 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 factors 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.

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