BE Semiconductor Industries (BESI) Investor presentation summary

Company overview and strategy

• Focus on advanced packaging and rapid growth segments, expanding share with key industry leaders and a strong Asian customer base.

• Strategic initiatives include Asian production transfer, R&D investment in wafer-level assembly, and collaboration with Applied Materials.

• Capital allocation policy has delivered €2.4B in dividends and buybacks since 2011, with superior total shareholder returns over 3, 5, and 10 years.

• Strategic objectives target technology leadership, market expansion, sustainability, and cost reduction.

Market position and financial performance

• Holds leading market shares in die attach and advanced die placement, with 68% and 83% shares respectively in 2025.

• Revenue reached €733.8M LTM Q2-26, with gross margins consistently above 60%.

• Orders up 116% in H1-26 vs. H1-25, driven by AI, photonics, hybrid bonding, and datacenter demand.

• Operating and net margins improved to 40% and 32% in H1-26, with strong cash generation.

• Long-term revenue model raised to €1.7–2.2B, with operating margin target increased to 45–55%.

Technology and product leadership

• Industry-leading portfolio in die attach (80% of 2025 revenue) and packaging/plating (20%).

• R&D investment doubled since 2020, focusing on hybrid bonding, fluxless TCB, and next-gen flip-chip for AI and photonics.

• Hybrid bonding adoption expanding, with 21 customers and increasing use in logic, memory, and CPO.

• Collaboration with Applied Materials enhances hybrid bonding roadmap, targeting submicron accuracy and higher throughput.

• Fluxless TCB adoption rising for chiplet, memory, and quantum computing applications.