BE Semiconductor Industries (BESI) investor relations material

Executive summary

• Q3-26 revenue rose 113.6% YoY to €283.4 million, orders increased 96.1% to €342.6 million, and net income rose 323.7% to €107.2 million.

• AI and advanced-packaging demand drove momentum; FY-26 revenue and orders are expected to exceed €1 billion.

Financial highlights

• Q3-26 revenue was €283.4 million, up 13.4% QoQ and 113.6% YoY; gross margin was 65.2%, up 3.0 points YoY.

• Q3-26 operating income was €129.7 million, EBITDA €139.9 million and net income €107.2 million; net income increased 20.4% QoQ and 323.7% YoY.

• 9M-26 revenue was €718.1 million, up 69.0% YoY; orders reached €905.2 million, up 108.3%, and net income was €247.8 million, up 179.1%.

• 9M gross-margin improvement reflected favorable product mix and price increases passed through to offset higher supply-chain costs.

Outlook and guidance

• Q4-26 revenue is expected flat to +/-5% versus Q3; gross margin is forecast at 63%-65%, with operating expenses up 5%-10% QoQ, mainly due to strategic consulting costs.

• At the midpoint of Q4 guidance, FY-26 revenue is projected at €1,002 million, up 69.4% from 2025; gross margin is projected at 64.7%.

• Favorable Q4 order momentum is expected across traditional and wafer-level assembly, supported by AI capacity expansion, data centers, photonics and market-share gains.

• Mainstream HBM hybrid-bonding timing depends on end customers; adoption is expected across stack heights over the next two years. GPU qualification is anticipated this year, potential orders next year and volume thereafter.