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

Core Insights - BE Semiconductor Industries N.V. (Besi) reported a significant increase in orders for Q3-25, with a 36.5% rise compared to Q2-25, indicating early signs of recovery in the assembly equipment market for the semiconductor industry [6][9][11] - Despite the increase in orders, revenue for Q3-25 decreased by 10.4% compared to Q2-25, reflecting ongoing challenges in mainstream assembly markets, particularly in mobile and automotive applications [6][9][11] - The company initiated a new €60 million share repurchase program, following the completion of a previous €100 million program, aimed at capital reduction and offsetting dilution from convertible notes and employee stock plans [10][14] Q3-25 Highlights - Revenue for Q3-25 was €132.7 million, down 10.4% from Q2-25 and 15.3% from Q3-24 [5][9] - Orders reached €174.7 million, marking a 36.5% increase from Q2-25 and a 15.1% increase from Q3-24 [5][9] - Gross margin was 62.2%, a decrease of 1.1 percentage points from Q2-25 and 2.5 percentage points from Q3-24, primarily due to adverse foreign exchange effects [5][9] - Net income for Q3-25 was €25.3 million, down 21.2% from Q2-25 and 45.9% from Q3-24 [5][9] Year-to-Date (YTD) 2025 Highlights - YTD revenue was €425.0 million, a decrease of 6.4% compared to the same period in 2024 [8][9] - Total orders for YTD-25 were €434.6 million, down 6.5% from YTD-24 [8][9] - YTD net income was €88.8 million, reflecting a 27.6% decrease compared to YTD-24, attributed to lower revenue and gross margins [8][9] Q4-25 Outlook - Revenue is expected to increase by 15-25% compared to Q3-25, driven by improved order levels [11][12] - Gross margin is anticipated to range between 61-63% for Q4-25 [12] - Operating expenses are projected to rise by 5-10% due to increased R&D expenses [12] Share Repurchase Activity - During Q3-25, Besi repurchased approximately 192,000 shares for €23.1 million at an average price of €119.94 per share [12] - The company completed its previous €100 million share repurchase program and has authorized a new €60 million program expected to be completed by October 2026 [10][14]