Report
Frederic Yoboue

BE SEMICONDUCTOR: End-market momentum still unattractive but the company delivers well on margins | NEUTRAL | EUR23(-14%)

BE SEMICONDUCTOR - NEUTRAL | EUR23(-14%)
End-market momentum still unattractive but the company delivers well on margins

Higher-than-expected sales and margins in Q2
Nonetheless bookings remain at an unattracted level
Sales guidance is disappointing but Besi continues to deliver on profitability
Underlying
BE Semiconductor Industries N.V.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Frederic Yoboue

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