BE Semiconductor Industries N.V. Announces Q3-25 Results

About this update from Be Semiconductor Industries N.v.

Q3-25 Orders Up 36.5% vs. Q2-25. Revenue and Net Income of € 132.7 Million and € 25.3 Million, Respectively YTD-25 Revenue and Net Income of € 425.0 Million and € 88.8 Million, Respectively New € 60 Million Share Repurchase Program Initiated DUIVEN, the Netherlands, Oct. 23, 2025 (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 third quarter and nine months ended September 30, 2025. Key Highlights Q3-25 Key Highlights YTD-25 Q4-25 Outlook Richard W. Blickman, President and Chief Executive Officer of Besi, commented:  “Besi reported Q3-25 revenue and operating results within prior guidance in an assembly equipment market showing early signs of recovery. Order levels improved significantly in Q3-25 with bookings of € 174.7 million increasing by 36.5% and 15.1% versus Q2-25 and Q3-24, respectively. For the quarter, revenue decreased by 10.4% and 15.3% versus Q2-25 and Q3-24, respectively, reflecting continued weakness in mainstream assembly markets, particularly for mobile and automotive applications, and lower hybrid bonding revenue. Operating income was higher than anticipated due to gross margin and operating expense development slightly better than forecast. The improved order outlook this quarter was principally due to a broad-based increase in die attach bookings by Asian subcontractors for 2.5D data center applications and renewed capacity purchases by leading photonics customers. We also noticed improvement in more mainstream electronics and automotive applications. A push out to Q4-25 of certain anticipated hybrid bonding bookings limited even stronger order development during the quarter. Progress on our wafer level assembly activities continued with new customers/orders received for both Besi’s hybrid bonding and TC Next systems in Q3-25. Besi’s results for the first nine months of 2025 reflected similar trends experienced in Q3-25 with revenue of € 425.0 million and orders of € 434.6 million decreasing by 6.4% and 6.5%, respectively, versus the comparable period of the prior year. In general, weakness in mobile and automotive applications this year has been partially offset by significantly increased die attach orders by Asian subcontractors for AI related computing applications. Year to date 2025 net income of € 88.8 million decreased by 27.6% versus the comparable 2024 period primarily due to lower revenue, lower gross margins realized primarily as a result of adverse forex effects and higher interest expense, net, related to our Senior Note issuance in July 2024. Liquidity remained strong with cash and deposits of € 518.6 million at September 30, 2025 increasing by € 28.4 million, or 5.8%, versus June 30, 2025 due to cash flow from operations more than doubling versus Q2-25. In addition, we completed our € 100 million share buyback program in October 2025 and authorized a new € 60 million share repurchase program with an anticipated completion date of October 2026. The outlook for Besi’s business has significantly improved based on Q3-25 order trends and continued order momentum to date in Q4-25. The improved outlook reflects increased demand for advanced packaging capacity necessary to support the rapid expansion of datacenters, software and next generation semiconductor devices required by the industry’s leading AI players. Advanced packaging is one of the key ways to achieve AI system differentiation, develop innovative consumer edge AI devices and provide the most energy-efficient datacenter performance. For Q4-25, we anticipate that revenue will increase by approximately 15-25% versus Q3-25 due to increased bookings levels. Besi’s gross margin is anticipated to range between 61-63%. Operating expenses are expected to increase by 5-10% versus Q3-25 due primarily to higher R&D expenses.” Share Repurchase Activity During the quarter, Besi spent € 23.1 million to repurchase approximately 192,000 of its ordinary shares at an average price of € 119.94 per share. At September 30, 2025, € 95.3 million of the current € 100 million share repurchase authorization had been used to repurchase approximately 837,000 ordinary shares at an average price of € 113.80 per share. At such date, Besi held approximately 2.2 million shares in treasury, equivalent to 2.7% of shares outstanding. On October 21, 2025, Besi completed its € 100 million share repurchase program by means of the following transactions: Under this program, a total of 870,825 shares were repurchased at an average price of € 114.83 per share. Details are available on Besi’s website . New € 60 Million Share Repurchase Program Besi will initiate a new € 60 million share repurchase program effective October 24, 2025. The program is aimed at general capital reduction purposes and to help offset dilution related to Besi’s Convertible Notes and shares issued under employee stock plans. It will be funded using Besi’s available cash resources and is expected to be completed by October 2026. At present, Besi has authority until October 23, 2026, to purchase up to 10% of its shares issued, or 8.1 million shares. The program will be executed in accordance with industry best practices and in compliance with European buyback rules and regulations and may be suspended or discontinued at any time. The program will be managed by an independent brokerage firm. All purchases will be executed through Euronext Amsterdam and Multilateral Trading Facilities as defined by the Directive 2014/65/EU of the European Parliament and of the Council of May 15, 2014 on markets in financial instruments and subject to the rules of the relevant Exchange. 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 2024 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; the extent and duration of the COVID-19 and other global pandemics and the associated adverse impacts on the global economy, financial markets, global supply chains and our operations as well as those of our customers and suppliers; failure to develop new and enhanced products and introduce them at competitive price levels; failure to adequately decrease costs and expenses as revenues decline; 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. 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, 2024 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 diluted income per share assumes the exercise of equity settled share based payments and the conversion of all Convertible Notes outstanding *Totals may not add up exactly due to rounding. 

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