| Supplemental Information (unaudited) | ||||||||||||||||||||||||
| (€ millions, unless stated otherwise) | ||||||||||||||||||||||||
| REVENUE | Q2-2024 | Q1-2024 | Q4-2023 | Q3-2023 | Q2-2023 | Q1-2023 | ||||||||||||||||||
| Per geography: | ||||||||||||||||||||||||
| China | 57.5 | 38 | % | 58.5 | 40 | % | 62.0 | 39 | % | 40.8 | 33 | % | 64.9 | 40 | % | 37.6 | 28 | % | ||||||
| Asia Pacific (excl. China) | 54.1 | 36 | % | 43.6 | 30 | % | 57.9 | 36 | % | 42.3 | 34 | % | 59.2 | 36 | % | 58.2 | 44 | % | ||||||
| EU / USA / Other | 39.6 | 26 | % | 44.2 | 30 | % | 39.7 | 25 | % | 40.2 | 33 | % | 38.4 | 24 | % | 37.6 | 28 | % | ||||||
| Total | 151.2 | 100 | % | 146.3 | 100 | % | 159.6 | 100 | % | 123.3 | 100 | % | 162.5 | 100 | % | 133.4 | 100 | % | ||||||
| ORDERS | Q2-2024 | Q1-2024 | Q4-2023 | Q3-2023 | Q2-2023 | Q1-2023 | ||||||||||||||||||
| Per geography: | ||||||||||||||||||||||||
| China | 43.3 | 23 | % | 51.1 | 40 | % | 71.1 | 43 | % | 46.0 | 36 | % | 51.4 | 46 | % | 35.5 | 25 | % | ||||||
| Asia Pacific (excl. China) | 72.0 | 39 | % | 45.0 | 35 | % | 36.6 | 22 | % | 40.9 | 32 | % | 33.2 | 29 | % | 71.3 | 50 | % | ||||||
| EU / USA / Other | 69.9 | 38 | % | 31.6 | 25 | % | 58.7 | 35 | % | 40.4 | 32 | % | 28.0 | 25 | % | 35.2 | 25 | % | ||||||
| Total | 185.2 | 100 | % | 127.7 | 100 | % | 166.4 | 100 | % | 127.3 | 100 | % | 112.6 | 100 | % | 142.0 | 100 | % | ||||||
| Per customer type: | ||||||||||||||||||||||||
| IDM | 122.4 | 66 | % | 53.5 | 42 | % | 82.7 | 50 | % | 70.5 | 55 | % | 60.5 | 54 | % | 74.0 | 52 | % | ||||||
| Subcontractors | 62.8 | 34 | % | 74.2 | 58 | % | 83.7 | 50 | % | 56.8 | 45 | % | 52.1 | 46 | % | 68.0 | 48 | % | ||||||
| Total | 185.2 | 100 | % | 127.7 | 100 | % | 166.4 | 100 | % | 127.3 | 100 | % | 112.6 | 100 | % | 142.0 | 100 | % | ||||||
| HEADCOUNT | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | ||||||||||||||||||
| Fixed staff (FTE) | 1,783 | 86 | % | 1,760 | 88 | % | 1,736 | 93 | % | 1,725 | 87 | % | 1,689 | 86 | % | 1,682 | 84 | % | ||||||
| Temporary staff (FTE) | 279 | 14 | % | 236 | 12 | % | 134 | 7 | % | 248 | 13 | % | 279 | 14 | % | 312 | 16 | % | ||||||
| Total | 2,062 | 100 | % | 1,996 | 100 | % | 1,870 | 100 | % | 1,973 | 100 | % | 1,968 | 100 | % | 1,994 | 100 | % | ||||||
| OTHER FINANCIAL DATA | Q2-2024 | Q1-2024 | Q4-2023 | Q3-2023 | Q2-2023 | Q1-2023 | ||||||||||||||||||
| Gross profit | 98.3 | 65.0 | % | 98.3 | 67.2 | % | 103.9 | 65.1 | % | 79.6 | 64.6 | % | 106.6 | 65.6 | % | 85.7 | 64.2 | % | ||||||
| Selling, general and admin expenses: | ||||||||||||||||||||||||
| As reported | 30.5 | 20.2 | % | 39.6 | 27.1 | % | 24.3 | 15.2 | % | 23.3 | 18.9 | % | 29.4 | 18.1 | % | 29.0 | 21.7 | % | ||||||
| Share-based compensation expense | (6.9 | ) | -4.6 | % | (16.9 | ) | -11.6 | % | (2.8 | ) | -1.7 | % | (1.6 | ) | -1.3 | % | (5.5 | ) | -3.4 | % | (9.3 | ) | -7.0 | % |
| SG&A expenses as adjusted | 23.6 | 15.6 | % | 22.7 | 15.5 | % | 21.5 | 13.5 | % | 21.7 | 17.6 | % | 23.9 | 14.7 | % | 19.7 | 14.8 | % | ||||||
| Research and development expenses: | ||||||||||||||||||||||||
| As reported | 18.5 | 12.2 | % | 17.9 | 12.2 | % | 13.5 | 8.5 | % | 13.6 | 11.0 | % | 14.3 | 8.8 | % | 15.0 | 11.2 | % | ||||||
| Capitalization of R&D charges | 4.9 | 3.2 | % | 4.7 | 3.2 | % | 5.7 | 3.6 | % | 4.7 | 3.8 | % | 5.3 | 3.3 | % | 5.4 | 4.0 | % | ||||||
| Amortization of intangibles | (3.6 | ) | -2.3 | % | (3.6 | ) | -2.4 | % | (3.3 | ) | -2.1 | % | (3.3 | ) | -2.6 | % | (3.5 | ) | -2.2 | % | (3.5 | ) | -2.6 | % |
| R&D expenses as adjusted | 19.8 | 13.1 | % | 19.0 | 13.0 | % | 15.9 | 10.0 | % | 15.0 | 12.2 | % | 16.1 | 9.9 | % | 16.9 | 12.7 | % | ||||||
| Financial expense (income), net: | ||||||||||||||||||||||||
| Interest income | (3.0 | ) | (4.0 | ) | (3.6 | ) | (2.9 | ) | (3.1 | ) | (2.6 | ) | ||||||||||||
| Interest expense | 2.1 | 2.8 | 3.0 | 2.8 | 2.9 | 2.9 | ||||||||||||||||||
| Net cost of hedging | 1.4 | 1.6 | 1.7 | 1.7 | 2.0 | 1.6 | ||||||||||||||||||
| Foreign exchange effects, net | 0.5 | 0.2 | (0.4 | ) | 0.2 | (0.1 | ) | (0.4 | ) | |||||||||||||||
| Total | 1.0 | 0.6 | 0.7 | 1.8 | 1.7 | 1.5 | ||||||||||||||||||
| Gross cash | 257.2 | 447.1 | 413.5 | 391.2 | 378.3 | 644.9 | ||||||||||||||||||
| Operating income (as % of net sales) | 49.3 | 32.6 | % | 40.7 | 27.8 | % | 66.1 | 41.4 | % | 42.7 | 34.6 | % | 62.9 | 38.7 | % | 41.7 | 31.3 | % | ||||||
| EBITDA (as % of net sales) | 56.2 | 37.2 | % | 47.5 | 32.5 | % | 72.7 | 45.6 | % | 48.9 | 39.7 | % | 69.3 | 42.6 | % | 48.2 | 36.1 | % | ||||||
| Net income (as % of net sales) | 41.9 | 27.7 | % | 34.0 | 23.2 | % | 54.9 | 34.4 | % | 35.0 | 28.4 | % | 52.6 | 32.4 | % | 34.5 | 25.9 | % | ||||||
| Effective tax rate | 13.0 | % | 15.3 | % | 16.1 | % | 14.4 | % | 14.0 | % | 14.0 | % | ||||||||||||
| Income per share | ||||||||||||||||||||||||
| Basic | 0.53 | 0.44 | 0.71 | 0.45 | 0.68 | 0.44 | ||||||||||||||||||
| Diluted | 0.53 | 0.44 | 0.68 | 0.45 | 0.66 | 0.44 | ||||||||||||||||||
| Average shares outstanding (basic) |
79,281,533
| 77,181,326 | 77,070,082 | 77,374,933 | 77,634,197 | 77,946,873 | ||||||||||||||||||
| Shares repurchased | ||||||||||||||||||||||||
| Amount | 14.8 | 14.8 | 23.1 | 45.5 | 66.9 | 77.7 | ||||||||||||||||||
| Number of shares | 105,042 | 101,049 | 226,572 | 447,829 | 761,937 | 1,120,327 | ||||||||||||||||||
BE Semiconductor Industries N.V. Announces Q2-24 Results
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