BESVF - BE Semiconductor Industries N.V. (BESIY) Q4 2023 Earnings Call Transcript
2024-02-22 16:57:10 ET
BE Semiconductor Industries N.V. (BESIY)
Q4 2023 Earnings Conference Call
February 22, 2024 10:00 AM ET
Company Participants
Richard Blickman - Chief Executive Officer
Leon Verweijen - Senior Vice President-Finance
Conference Call Participants
Charles Shi - Needham & Company
Madeleine Jenkins - UBS
Robert Sanders - Deutsche Bank
Didier Scemama - Bank of America
Ruben Devos - Kepler Cheuvreux
Rolf Bulk - New Street Research
Timm Schulze-Melander - Redburn Atlantic
Johannes Ries - Apus Capital
Presentation
Operator
Good morning, good afternoon, ladies and gentlemen, and welcome to the Besi's Quarterly Conference Call and Audio Webcast to discuss the company's 2023 Fourth quarter and Full-Year results. You can log in to the audio webcast via Besi's website at www.besi.com.
Joining us today are Mr. Richard Blickman, Chief Executive Officer and Mr. Leon Verweijen, Senior Vice President, Finance. At this time, all participants are in a listen-only mode. Later, we will conduct the question-and-answer session and instructions will follow at that time. As a reminder, ladies and gentlemen, this conference is being recorded and cannot be reproduced in whole or in part without written permission from the company.
I would like to now turn the call over to Mr. Richard Blickman. Thank you.
Richard Blickman
Thank you. Thank you all for joining us today. We will begin by making a few comments in connection with the press release issued earlier today and then take your questions. I would like to remind you that some of the comments made during this call and some of the answers in response to your questions may contain forward-looking statements. Such statements may involve uncertainties and risks as described in the earnings release and other reports filed with the AFM.
For today's call, we'd like to review the key highlights for the fourth quarter and year ended December 31st, 2023 and update you on the market strategy and the outlook. First, some overall thoughts on our performance. Q4 '23 operating results were significantly better than both Q3 and Q4 2022 as our favorable market positioning offset continued weakness in demand for mainstream assembly equipment.
For the quarter, revenue of €159.6 million, was up 29.4% and 15.9% versus Q3 '23 and Q4 '22 respectively. The increase was due to higher shipments for hybrid bonding, photonics and other AI-related 2.5D applications continuing trends we saw last quarter. Of note, we shipped our first in-line, flip chip system for 2.5D HBM/logic applications to address the needs of this growing market. Orders of €166.4 million were up 30.7% versus the third quarter last year, of which a portion is anticipated to be shipped in Q2 and Q3 of this year....
BE Semiconductor Industries N.V. (BESIY) Q4 2023 Earnings Call Transcript