Dutch semiconductor equipment company BE Semiconductor Industries N.V. (AEX: BESI) is set for a revenue revival in fiscal 2024, driven by increased demand for hybrid bonding systems and AI-powered photonics applications. Visible Alpha consensus estimates project revenue growth of +6% year-over-year in 2024, reaching €615 million, followed by a robust +34% increase in 2025. This recovery marks a sharp turnaround after two years of contraction, driven by weak demand in mainstream computing and automotive markets.
The hybrid bonding segment is expected to be a key growth driver, with revenues forecast to surge +76% year-over-year in 2024 and +104% in 2025. Its contribution to total revenue is projected to nearly double, rising from 8% in 2023 to 14% in 2024. Meanwhile, the company’s core business revenue is expected to remain flat in 2024, following a -21% decline last year, but is anticipated to rebound with +23% growth in 2025.
Hybrid bonding system shipments are expected to climb sharply, from 22 units in 2023 to 37 units in 2024, reaching 78 units by 2025. Total orders are also anticipated to see an uptick. After steep declines of -29% in 2022 and -17% in 2023, orders are forecast to rise +16% year-over-year to €634 million in 2024.