Be Semiconductor Industries N.v. · EURONEXT:BESI
Be Semiconductor Industries — Q3 2026 Earnings Presentation
24 slides from Be Semiconductor Industries's earnings presentation, Oct 22, 2026
Slide 1: Investor Presentation Q3-26 Results
INVESTOR PRESENTATION Q3-26 RESULTS October 22, 2026
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains statements about management's future expectations, plans and prospects of our business that constitute forward-looking statements, which are found in various places throughout the presentation, including, but not limited to, statements relating to exp
Slide 3: Table of Contents
Table of Contents I. Key Highlights II. Market & Strategy III. Outlook IV. Financial Appendix October 22, 2026 3
Slide 4: I. Key Highlights
I. KEY HIGHLIGHTS October 22, 2026 4
Slide 5: Strong Q3-26 Financial Performance. Order Momentum Continues
Strong Q3-26 Financial Performance. Order Momentum Continues Guidance € millions Q3-26* Q3-26 ∆ Q2-26 ∆ Q3-25 Revenue Up 10-15% 283.4 +13.4% +113.6% Orders 342.6 +17.0% +96.1% Gross Margin 63-65% 65.2% -0.5pts +3.0pts Opex Up 0-5% 55.1 -0.4% +13.6% Operating Income 129.7 +19.2% +280.4% EBITDA 139.9
Slide 6: Accelerating Revenue and Net Income Growth in 2026
Accelerating Revenue and Net Income Growth in 2026 Q2-26/Q3-26 YTD-25/YTD-26 Revenue Net Income Revenue Net Income 300 300 750 € 283.4 € 718.1 +13.4% 700 1400 650 250 € 249.9 250 +69.0% Gross Margin 600 1200 65.7% -0.5 points 65.2% 550 OPEX 200 200 500 1000 € 55.3 MM -0.2MM € 55.1 MM Net Income (€ m
Slide 7: Net Cash Position Expanding
Net Cash Position Expanding 900 Cash and Deposits Net Cash 800 € 125.4 Million Q3-26 vs. Q2-26 Annual Dividend • Cash and deposits of € 591.9 million 700 672.3 • + € 82.8 million primarily due to: 611.4 • + € 107.1 million cash from operations 591.9 600 543.0 • - € 15.8 million share repurchases 509
Slide 8: II. Market & Strategy
II. MARKET & STRATEGY October 22, 2026 8
Slide 9: Assembly Equipment Growth Forecast Revised Upwards
Assembly Equipment Growth Forecast Revised Upwards 16.0 Assembly Equipment Forecast ($B) 14.0 12.0 12.0 TechInsights has upwardly revised its assembly 10.0 growth forecast 10.0 • 37% increase now anticipated in 2026 (vs. 20%) $ billions 8.0 • 122% increase expected 2025-2028 (vs. 53%) 7.4 • Expansio
Slide 10: Business Update
Business Update Progress achieved on long-term strategic plan realization • Revenue and orders to exceed € 1 billion mark in 2026 • AI drives significant order growth for hybrid bonding, datacenter and photonics applications • Disciplined cost management helps drive operating margins to 46%, net m
Slide 11: III. Outlook
III. OUTLOOK October 22, 2026 11
Slide 12: Guidance Q4-26 & FY-26
Guidance Q4-26 & FY-26 € in millions Revenue Gross Margin Total Operating Expenses 63% +5% Q4-26 € 283.4 -5% to +5% 65.2% - € 55.1 to 65% +10% Q3-26 Q4-26 Q3-26 Q4-26 Q3-26 Q4-26 Flat +/- 5% Revenue Gross Margin Total Operating Expenses 2026 +69.4% € 201.2 € 591.3 63.3% +1.4pts +10.8% € 1,002 64.7%
Slide 13: IV. Financial Appendix
IV. FINANCIAL APPENDIX October 22, 2026 13
Slide 14: Long-term Through Cycle Growth. New Upcycle Began in H2-25
Long-term Through Cycle Growth. New Upcycle Began in H2-25 Revenue Gross Margin Gross margin weighted 5-year average 1200 70% 64.7% 62.6% 60% 1000 56.3% 1,002 50% 800 42.8% 749 Gross margin 40% € millions 600 36.0% 593 30% 400 379 20% 351 200 191 10% 0 0% 2006 2007 2008 2009 2010 2011 2012 2013 2014
Slide 15: Revenue/Order Trends
Revenue/Order Trends Q3-26 vs. Q2-26 • Revenue: +€ 33.5 million (+13.4%) Quarterly Trends Revenue Orders 343 • Higher datacenter and AI related mainstream computing 350 • Orders: +€ 49.7 million (+17.0%) 293 • Higher datacenter, hybrid bonding and mainstream 300 283 270 computing applications 250 25
Slide 16: Order Trends
Order Trends € millions IDMs Foundries/Subcontractors* 1,200.0 1,155.6 1,000.0 800.0 63% Orders 663.7 685.0 586.6 600.0 548.3 39% 53% 39% 45% 58% 45% 400.0 48% 61% 61% 47% 200.0 37% 55% 55% 52% 42% - 2022 2023 2024 2025 LTM * Includes foundries and subcontractors as of 2024 October 22, 2026 16
Slide 17: Gross Margin Trends
Gross Margin Trends Quarterly Trends 300 283.4 70% Revenue Gross Margin 249.9 69% Q3-26 vs. Q2-26 250 • 65.2% vs. 65.7% (-0.5 points) 68% 67% • High end of guidance 200 184.9 • More favorable product mix 156.6 166.4 66% € millions 153.4 144.1 148.1 65.7% • Net forex neutral: Revenue - USD vs. EUR 65
Slide 18: Baseline Operating Expense Trends
Baseline Operating Expense Trends 70.0 40.0% 60.0 55.3 55.1 52.5 53.5 35.0% 50.2 48.5 50.0 8.0 Operating Expenses (€ millions) 50.0 47.6 8.5 8.9 32.0% 9.9 5.7 4.8 7.9 6.0 30.3% 30.0% 30.0% 40.0 27.9% 30.0 25.3% 25.0% 23.6% 47.3 42.8 43.6 46.6 20.0 44.5 42.5 42.1 43.6 20.0% 10.0 18.9% 16.4% 0.0 15.0%
Slide 19: Headcount Trends
Headcount Trends 3,000 30% 2,500 2,403 25% 2,311 2,217 402 1,946 1,964 359 2,000 1,870 315 20% 1,819 108 134 144 134 Headcount • Increased fixed HC in 2026 primarily 1,500 15% service, sales & marketing 1,313 1,354 1,402 1,249 1,267 1,162 1,193 • Significant increase in temporary 1,000 10% HC in cur
Slide 20: Net Income Trends
Net Income Trends Quarterly Trends Net Income Net Margin 120 40% 110 37.8% 100 35.6% 35% Q3-26 vs. Q2-26 90 • € 107.2 million (+€ 18.2 million) 80 30% • +13.4% higher revenue • -0.5 points gross margin € millions 70 27.9% 60 25.7% 25% • Opex decrease of 0.4%, below low end of guidance € 107.2 • Net
Slide 21: Cash Flow Efficiency Trends
Cash Flow Efficiency Trends € millions Total Cash Flow from Operations % of Revenue 350 As % of Revenue 295.8 300 271.9 250 208.6 201.1 200 37.6% 36.0% 178.1 33.1% 33.4% 150 30.1% 100 50 0 2022 2023 2024 2025 LTM * * LTM per Q3-26 October 22, 2026 21
Slide 22: Dividend Trends
Dividend Trends Cumulative dividends of € 1.7 billion since 2011, or € 21.54 per share* Dividend (€) Dividend Payout Ratio 3.50 3.33 98% 97% 96% 3.00 95% 2.85 95% 95% 94% 2.50 92% 2.15 2.18 92% 2.00 90% 1.58 1.50 88% 86% 1.00 84% 0.50 82% 0.00 80% 2021 2022 2023 2024 2025 Dividend Dividend Payout Ra
Slide 23: Share Repurchase Activity
Share Repurchase Activity Share Repurchases Average Cost per Share 250 285.0 213.4 € 257.58 235.0 200 € 210.67 Avg Cost per Share 185.0 146.8 € 173.80 150 € millions € 125.53 135.0 € 118.26 100 79.8 82.0 € 83.40 85.0 € 54.38 50 35.0 14.2 14.7 15.8 0 -15.0 2022 2023 2024 2025 Q1-2026 Q2-2026 Q3-2026
Slide 24: Investment Considerations
Investment Considerations Assembly market Long-term secular Wafer level assembly Disciplined strategic ever more critical in trends drive for AI applications focus has created an semiconductor value advanced packaging promising new industry leader chain growth growth opportunity Market presence has
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