BE Semiconductor Industries N.V. Announces Q2-18 and H1-18 Results



Consolidated Balance Sheets
    
(euro in thousands) June 30,
2018

(unaudited)
March 31,
2018

(unaudited)
December 31,
2017

(audited)
ASSETS    
     
Cash and cash equivalents 215,457440,983527,806
Deposits 180,000130,000-
Accounts receivable 185,647159,624151,654
Inventories 78,41581,57570,947
Income tax receivable 325304370
Other current assets 11,03311,89411,652
     
Total current assets 670,877824,380762,429
     
     
Property, plant and equipment 27,09826,91826,517
Goodwill 44,93744,44344,687
Other intangible assets 36,88934,60434,140
Deferred tax assets 4,8304,7074,660
Other non-current assets 2,8182,7462,520
     
Total non-current assets 116,572113,418112,524
     
Total assets 787,449937,798874,953
      
LIABILITIES AND SHAREHOLDERS’ EQUITY
      
Notes payable to banks 4,1149691,742
Current portion of long-term debt
  and financial leases
  11,552 11,547 
11,228
Accounts payable 62,60073,42862,721
Accrued liabilities 66,67781,94270,595
     
Total current liabilities 144,943167,886146,286
     
Other long-term debt and
  financial leases
 

269,548
 

268,415
 

267,274
Deferred tax liabilities 13,87512,04510,050
Other non-current liabilities 16,16217,12517,211
     
Total non-current liabilities 299,585297,585294,535
     
Total equity 342,921472,327434,132
     
Total liabilities and equity 787,449937,798874,953



 
Consolidated Cash Flow Statements
 
(euro in thousands)

 
Three Months Ended
June 30,

(unaudited)
  Six Months Ended
June 30,

(unaudited)
 
  2018   2017   2018   2017  
         
Cash flows from operating activities:        
Operating income 59,292   63,316   107,848   94,139  
         
Depreciation and amortization 3,526   3,280   6,940   6,639  
Share based compensation expense 1,298   2,070   8,459   4,630  
Other non-cash items -   430   -   857  
         
Changes in working capital (40,199 )   (37,503)   (42,221 )   (55,688)  
Income tax received (paid) (14,746 )   (504)   (16,623 )   (1,013)  
Interest received (paid) (2,215 )   (1,544)   (2,524 )   (1,456)  
         
Net cash provided by (used in) operating activities  

6,956
   

29,545
   

61,879
   

48,108
 
         
Cash flows from investing activities:        
Capital expenditures (2,000 )   (843)   (3,926 )   (1,964)  
Capitalized development expenses (3,448 )   (1,789)   (6,088 )   (3,673)  
Deposits* (50,000 )   -   (180,000 )   (25,000)  
         
Net cash used in investing activities (55,448 )   (2,632)   (190,014 )   (30,637)  
         
Cash flows from financing activities:        
Proceeds from (payments of) bank lines of credit 2,835   -   2,372   (3,855 )
Proceeds from (payments of) debt and financial leases   (6 )    (2,240)     301    (2,166)  
Dividends paid to shareholders (174,018 )   (65,302)   (174,018 )   (65,302)  
Reissuance (purchase) of treasury shares (6,000 )   (5,000)   (12,000 )   (12,500)  
         
Net cash provided by (used in) financing activities (177,189 )   (72,542)   (183,345 )   (83,823)  
         
Net increase (decrease) in cash and cash equivalents (225,681 )   (45,629)   (311,480 )   (66,352)  
Effect of changes in exchange rates on cash and
  cash equivalents
155    (332)   (869 )   (381)  
Cash and cash equivalents at beginning of the
  period
 

440,983
   

204,018
   

527,806
   

224,790
 
         
Cash and cash equivalents at end of the period 215,457   158,057   215,457   158,057  

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