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; those additional risk factors set forth in Besi's annual report for the year ended December 31, 2023 and other key factors that could adversely affect our businesses and financial performance contained in our filings and reports, including our statutory consolidated statements.
Similarly, net margin decreased to 25.5% versus 29.5% in H1-23 Q3-24 Outlook Revenue expected to be flat (plus or minus 5%) vs.€ 151.2 million reported in Q2-24Gross margin expected to range between 64-66% vs.65.0% realized in Q2-24Operating expenses expected to decrease 0-5% vs.€ 49.0 million in Q2-24 (€ millions, except EPS)Q2-2024Q1-2024ΔQ2-2023ΔHY1-2024HY1-2023ΔRevenue151.2146.3+3.3%162.5-7.0%297.5295.9+0.5%Orders 185.2127.7+45.0%112.6+64.5%313.0254.6+22.9%Gross Margin65.0%67.2%-2.2%65.6%-0.666.1%65.0%+1.1Operating Income49.340.7+21.1%62.9-21.6%90.0104.6-14.0%Net Income41.934.0+23.2%52.6-20.3%75.987.1-12.9%Net Margin27.7%23.2%+4.532.4%-4.725.5%29.5%-4.0EPS (basic)0.530.44+20.5%0.68-22.1%0.971.12-13.4%EPS (diluted)0.530.44+20.5%0.66-19.7%0.971.09-11.0%Net Cash and Deposits74.4*180.9-58.9%74.0*+0.5%74.4*74.0*+0.5% * Reflects cash dividend payments of € 171.5 million and € 222.1 million in Q2-24 and Q2-23, respectively.Richard W.
Q2-23 principally due to continued weakness in smartphone end markets partially offset by growth in hybrid bonding and other advanced packaging applicationsOrders of € 185.2 million up 45.0% vs.Q1-24 and 64.5% versus Q2-23 principally due to significant growth in hybrid bonding, photonics and 2.5D assembly solutions for AI applications partially offset by ongoing weakness in automotive end marketsGross margin of 65.0% decreased by 2.2 points vs.Q1-24 and by 0.6 points vs.
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Author / Journalist: BE Semiconductor Industries N.V.
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