BE Semiconductor Industries N : Announces Q4-20 and Full Year 2020 Results
February 19, 2021 at 01:10 am EST
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Q4-20 Revenue and Net Income up 18.7% and 32.3% vs. Q4-19. Results Exceeds Expectations. Orders up 65.8% vs. Q3-20. FY-20 Revenue and Net Income up 21.7% and 62.7% vs. FY-19. Proposed Dividend of € 1.70 per Share, up 68.3%.
Duiven, the Netherlands, February 19, 2021 - BE Semiconductor Industries N.V. (the 'Company' or 'Besi') (Euronext Amsterdam: BESI; OTC markets: BESIY, Nasdaq International Designation), a leading manufacturer of assembly equipment for the semiconductor industry, today announced its results for the fourth quarter and year ended December 31, 2020.
Key Highlights Q4-20
Revenue of € 109.7 million, up 1.3% versus Q3-20 and above guidance. Up 18.7% versus Q4-19 primarily due to higher shipments for mobile applications to Asian subcontractors
Orders up 65.8% versus Q3-20 and 56.5% versus Q4-19 due to broad based demand increase across Besi's end-user markets, particularly mobile and automotive applications
Gross margin of 58.3% declined 2.5 points versus Q3-20 due primarily to adverse forex influences. Up 2.0 points versus Q4-19 primarily due to a more favorable product mix and increased labor efficiencies
Net income grew to € 44.6 million, an increase of € 10.6 million versus Q3-20 and € 10.9 million versus Q4-19. Similarly, Besi's net margin rose to 40.7% versus 31.3% in Q3-20 and 36.5% in Q4-19
Excluding tax benefits recognized in each of Q4-20 and Q4-19, net income declined by € 0.6 million, or 1.8%, versus Q3-20 but increased by € 11.3 million, or 51.1%, versus Q4-19. Net margin decreased slightly to 30.4% in Q4-20 versus 31.3% in Q3-20 but increased by 6.5 points versus Q4-19
Net cash increased to € 198.7 million, up € 40.0 million (+25.2%) versus September 30, 2020
Key Highlights FY 2020
Revenue of € 433.6 million increased by € 77.4 million, or 21.7%, primarily as a result of improved industry conditions, higher shipments for mobile applications due to new 5G product cycle and increased investment by Chinese customers
Orders of € 472.1 million grew € 123.4 million (+35.4%)
Gross margin reached 59.6%, up 3.8 points versus 2019 primarily due to Besi's strong advanced packaging market position, a more favorable product mix and increased labor efficiencies
Net income of € 132.3 million grew € 51.0 million (+62.7%). Net margin rose to 30.5% versus 22.8% in 2019. Net margin ex tax benefits rose to 27.9% versus 19.6% in 2019
Proposed 2020 dividend of € 1.70 per share. Represents pay-out ratio of 94%
Outlook
Q1-21 revenue estimated to increase 30%-40% versus Q4-20. Strong demand continues with current Q1-21 orders exceeding total for Q4-20. Gross margin anticipated to range between 58% and 60%
To read the full version of our press release, please download the PDF file.
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BE Semiconductor Industries NV published this content on 19 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 February 2021 06:09:05 UTC.
BE Semiconductor Industries N.V. (Besi) specializes in the design, manufacturing and marketing of semiconductor assembly equipment for the global semiconductor and electronics industries. The group develops leading edge assembly processes and equipment for leadframe, substrate and wafer level packaging applications in a wide range of end-user markets including electronics, mobile Internet, computer, automotive, industrial, RFID, LED and solar energy.
Net sales are distributed geographically as follows: Ireland (7.5%), Europe (8.2%), China (35.5%), Malaysia (8.4%), Korea (7.3%), Taiwan (6.5%), Thailand ( 3.6%), Asia/Pacific (11.8%), United States (8.8%) and other (2.4%).