Besi beats expectations

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BE Semiconductor Industries (Besi) is holding its ground in rather difficult market conditions. Third-quarter revenue of 89.7 million euros is down 3.2 percent with respect to the previous year but the Duiven-based company had guided much worse (-10 percent). The better than anticipated performance was due to Chinese subcontractors looking for alternative suppliers of epoxy die-bonding systems in light of the US-China trade tensions. Overall, these tensions still sour the market, though, as shown by Besi’s Q3 revenue being down 23.1 percent year on year.

Credit: Besi

Q3 orders of 82.2 million euros were roughly flat in comparison to Q2, which may be considered a win as the third quarter is typically weaker on a sequential basis. Demand for high-end mobile and automotive applications is still low but this was partially offset by server logic. All in all, Besi maintains a cautious outlook, estimating Q4 will equal Q3 plus or minus 5 percent.