DGAP-News: Basler AG: Business figures for the first six months of 2019:
DGAP-News: Basler AG / Key word(s): Half Year Results
Business figures for the first six months of 2019:
- Incoming orders: Euro 84.2 million (previous year: Euro 79.8 million, 6 %)
- Sales: Euro 81.7 million (previous year: Euro 83.4 million, -2 %)
- EBITDA: Euro 13.7 million (previous year: Euro 24.4 million, -44 %)
- Pre-tax result: Euro 7.2 million (previous year: Euro 19.2 million, -62 %)
- Pre-tax return rate: 9 % (previous year: 23 %)
- Period surplus: Euro 4.8 million (previous year: Euro 14.6 million, -67 %)
- Free cash flow: Euro -16.5 million (previous year: Euro 5.9 million)
Ahrensburg, August 7, 2019 - BASLER AG, the leading global manufacturer of industrial cameras, is presenting final figures for the first six months of 2019 today.
In a very weak market environment, the group's incoming orders grew to Euro 84.2 million (previous year: Euro 79.8 million, 6 %) in the first six months. The group's sales of Euro 81.7 million were 2 % below the very strong first half year of 2018.
The market-related weak sales level meets an organization that grew considerably both organically and inorganically. Along with the currently weak market situation, the strategic expansion of the organization over the past quarters combined with the subsequent cost increases, particularly in R&D, marketing and sales, led to a decline of the pre-tax result to Euro 7.2 million (previous year: Euro 19.2 million, -62 %). The after-tax result amounted to Euro 4.8 million (previous year: Euro 14.6 million). At the end of the quarter, the free cash flow summed up to Euro -16.5 million (previous year: Euro 5.9 million). This includes extraordinary payments due to the acquisition in China.
On January 1st, 2019, the new Basler China corporation successfully started its business. However, as expected, the first quarter was strongly affected by taking over the stock of the Chinese distribution business acquired from the MVLZ company. In general, the integration process in the first half year of 2019 made good progress, similar to the Silicon Software GmbH acquired in the middle of last year. Both transactions considerably strengthen the group's market access as well as the technology and product portfolio.
Although the first half year of 2019 was modest, it was according to expectations and within the forecast communicated to the capital market. Based on present knowledge and the development of sales and incoming orders in the past months, the company expects a sideways movement of business for the second half year. However, overall, the economic outlook is dominated by a high uncertainty and the investment goods markets for semiconductor and electronics are significantly declining. Even though the current macroeconomic conditions have dampening effects and the risks of a recession are increasing, the management is positive about the future in general. Major growth drivers such as automation, image processing in new application fields outside the factory as well as the networking of intelligent machines and products (Industry 4.0 / IOT) are intact. The management confirms the forecast for the full financial year. According to this forecast, the group's sales 2019 will be in the middle to lower range of the sales corridor of Euro 160 - 180 million at a pre-tax return margin of 7 - 11 %. The company will continue to determinedly drive forth the implementation of the profitable growth strategy in the upcoming months.
The full six-month report 2019 can be seen on the company's website (www.baslerweb.com).
Basler is the leading manufacturer of high-quality cameras and image processing components for industry, medicine, traffic and a variety of other markets. The company's product portfolio encompasses area scan and line scan cameras in compact housing dimensions, camera modules in board level variants for embedded solutions, 3D cameras, as well as frame grabber cards. The catalog is rounded off by our user-friendly pylon SDK plus a broad spectrum of accessories, including several developed specially for Basler and optimally harmonized for our cameras. Basler has three decades of experience in computer vision and is home to approximately 800 employees.
Basler AG, Hardy Mehl (CFO/COO), An der Strusbek 60 - 62, 22926 Ahrensburg, Tel. +49 (0)4102-463100, ir/baslerweb.com, www.baslerweb.com, ISIN DE 0005102008
Tel. +49 4102 463 101
07.08.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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