(Reuters) -Dutch chipmaking parts supplier BE Semiconductor Industries (Besi) beat expectations for second-quarter new orders on Thursday, as demand for its systems used in AI and other advanced packaging applications partially offset weaker growth in mainstream assembly markets and in China.
After a slow start of the year marked by weakness in mainstream assembly markets, Besi is banking on a wider adoption of its hybrid bonding tools by chipmakers, driven by booming demand for AI-enabling technology.
Hybrid bonding is Besi’s top product used to create tighter interconnections inside a chip.
The chip assembly equipment maker’s new order bookings rose to 185.2 million euros ($200.74 million) in the three months to the end of June, above analysts’ consensus of 179 million euros compiled by Visible Alpha and cited by ING analysts.
That compares to orders of 128 million euros booked in the first three months of 2024.
Besi, whose customers include AI chip giant Nvidia, the world’s largest contract chipmaker TSMC and Samsung Electronics, said it received 29 orders for hybrid bonding systems from two customers during the quarter, with expected deliveries in the fourth quarter of 2024 and the first quarter of 2025.
All of those orders were for Besi’s latest generation 100 nm accuracy system used in 3D logic applications, CEO Richard Blickman said in a statement.
Besi expects more orders to come in the second half of this year as customers ramp capacity for high volume manufacturing in 2025, Blickman added.
For the third quarter, the company expects its sales to be broadly flat compared to the 151.2 million euros in the April-June period, with a gross margin of between 64% and 66%, versus 65% in the second quarter.
($1 = 0.9226 euros)
(Reporting by Dagmarah Mackos, Editing by Christian Schmollinger and Milla Nissi)
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