According to Besi CEO Richard Blickman, this downturn fits the chip market’s erratic cycle. However, the company took full advantage of the strong customer demand for sawdust assembly equipment in the second quarter. Net profit increased by 149% to 93.5 million euros. Turnover increased by 58% to 226 million Euros. This is why Blickman speaks of ‘strong results’.
buy more shares
Besi also announced this morning that it will buy more shares. The company will buy its own shares worth €185 million by November 2022. This is €60 million more than previously announced.
Besi has been in the AEX index since last March. The stock is already up more than 40% this year.
In the second quarter, Besi took full advantage of what the chip assembly equipment maker calls “favorable market conditions.” To meet the huge demand, global chip production is accelerating, which has created a lot of demand for Besi’s machines. Turnover and profit were higher than the company had expected.
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