Besi eyes 2025 surge in hybrid bonding demand after Q3 orders miss estimate
Adds share move in paragraph 2, detail on sales and margin in paragraph 8, analyst comment in paragraph 11
By Dagmarah Mackos
Oct 24 (Reuters) -BE Semiconductor Industries BESI.AS (Besi) expects a rise in demand for its hybrid bonding systems in 2025 following shipment delays in the fourth quarter, the chipmaking parts supplier said on Thursday, after third-quarter new orders missed estimates.
Besi's stock, down about 26% this year, was up around 4% at 0825 GMT, recovering from a drop in early trading.
The Dutch company said it received substantial orders for hybrid bonding systems from both existing and new customers and anticipated additional orders in the fourth quarter as global adoption continues to expand.
As appetite for AI technology grows, Besi is banking on its hybrid bonding tools used to create tighter interconnections inside a chip, but a slower than expected recovery in automotive and smartphone markets, along with high inventories, are raising concerns about global semiconductor demand.
Besi expects a sharp increase in demand for these systems in 2025, and plans to double its cleanroom facilities in Malaysia to meet it, it added. Cleanrooms are controlled environments that minimise contamination, key for hybrid bonding semiconductor equipment manufacturing.
In the third quarter, strong growth in computing end-user markets, including hybrid bonding, photonics and AI applications, was partially offset by ongoing weakness in automotive and Chinese markets, a trend the company expects to persist throughout the year, it said.
The company's order bookings fell 18% quarter-on-quarter to 151.8 million euros ($164 million) in the three months to the end of September, compared with an estimate of 177 million euros cited by Visible Alpha analysts.
Sales, gross margin, and net profit were broadly in line with Visible Alpha's estimates of 153 million euros, 65.2%, and 44 million euros, respectively.
For the fourth quarter, the company sees flat revenue, with an estimated variation of 10%, compared with 156.6 million euros in July-September, and a gross margin of 63-65%, down from 64.7% in the third quarter.
Besi blamed a delay by an unidentified customer in taking delivery of hybrid bonding systems due in the fourth quarter.
Analysts said order delays were not a surprise, given the prolonged industry weakness and struggles of Besi's customers such as Samsung Electronics 005930.KS and Intel INTC.O.
Following strong pandemic demand, chipmakers built excess capacity, but as supply chain issues eased, they delayed new tool orders until their factories neared full capacity.
($1 = 0.9267 euros)
Reporting by Dagmarah Mackos; Editing by Mrigank Dhaniwala, Mark Potter and Emelia Sithole-Matarise
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
