Besi sees decline after strong quarter | Financial

According to Besi CEO Richard Blickman, this downturn fits into the erratic cycle of the chip market. However, the company took full advantage of strong customer demand for chip manufacturing assembly equipment in the second quarter. Net profit rose 149% to €93.5 million. Turnover grew 58% to €226 million. Blickman therefore speaks of ‘strong results’.

Buy more shares

Besi also announced this morning that it will buy more shares. The company will purchase €185 million worth of its own shares until November 2022. That is €60 million more than previously announced.

Besi has been listed in the AEX index since last March. The stock has already risen more than 40% this year.

In the second quarter, Besi took full advantage of what the chip assembly equipment maker calls “favorable market conditions.” Global chip production is ramping up to try to meet the huge demand and that has generated a lot of demand for Besi’s machines. Turnover and profit were higher than the company itself had expected.

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