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EQS-News: Basler AG
/ Key word(s): Half Year Report/Half Year Results
Corporate News Business figures for the first six months of 2024: Positive development in a persistently weak market environment; company specifies forecast for 2024
Ahrensburg, August 8, 2024 – Today, Basler AG, a leading provider of computer vision technology, releases its business figures for the first half of 2024. Overall, the first half of 2024 was characterized by ongoing geopolitical uncertainties and increased customer inventories. The recovery in demand on the capital goods markets was weaker than expected. As a result, no positive cumulative result was achieved in the first half of the year despite the significant reduction in the cost base compared to the previous year. In the first half of 2024, sales decreased by 20% to Euro 93.0 million (previous year: Euro 116.1 million) compared to the same period of the previous year. Incoming orders decreased by 2 % to Euro 92.5 million (previous year: Euro 94.0 million). Although at a low level, the ratio of incoming orders to sales was balanced during the reporting period. Compared to the first quarter of 2024, sales and incoming orders increased again in the second quarter. Incoming orders grew by 10 % to Euro 48.5 million compared to the first quarter, while sales increased by 14% to Euro 49.5 million. The pre-tax result for the second quarter was positive for the first time in three quarters. Accumulated pre-tax profit for the first six months was Euro -2.3 million (previous year: Euro 0.2 million). The operating cash flow for the first half of the year amounted to Euro 3.9 million (previous year: Euro -1.0 million) and is primarily characterized by the accumulated loss due to the low level of sales. Cash flow from investing activities amounted to Euro -6.0 million (previous year: Euro -8.6 million) and includes the investment in the Roboception GmbH. Free cash flow improved compared to the previous year to Euro -2.1 million (previous year: Euro -9.6 million). Compared to the first half of the previous year, the regional sales structure has shifted slightly towards Asia again - Europe 35 % (previous year: 38 %), America 16 % (previous year: 16 %) and Asia with 49 % (previous year: 46 %). The German Engineering Federation (VDMA) reports a 19 % decline in sales for German manufacturers of machine vision components in the first six months compared to the previous year. Incoming orders in the industry fell by 7 % in the same period. While Basler AG's sales performance in the first half of the year showed a high correlation with the industry, incoming orders developed better. This is mainly due to the higher share of Basler's business in the early-cycle regions of Asia and the Americas, which returned to slight growth after the significant decline in the first half of 2023. Despite these initial positive trends, the market environment must still be described as weak. As a result, incoming orders and sales were still slightly below break-even in the first half of the year. The management board now expects a noticeable recovery in demand for capital goods to start later than anticipated at the beginning of the year. Therefore, management confirms its forecast but narrows the forecast corridor to the lower half. Whereas sales of between Euro 190 - 210 million and a pre-tax margin of 0 – 5 % were previously assumed, sales of between Euro 190 - 200 million and a pre-tax margin of between 0 – 3 % are now expected. The full half-year report can be viewed on the company's website at (www.baslerweb.com). ------------------------------------------- Basler AG is an international leader and experienced expert in computer vision. The company offers a broad coordinated portfolio of vision hardware and software. In addition, it enables customers to solve their vision application issues by developing customer-specific products or solutions. Founded in 1988, the Basler Group employs more than 1,000 people at its headquarters in Ahrensburg, Germany, as well as other sales and development locations throughout Europe, Asia, and North America.
Basler AG, Hardy Mehl (CFO/COO), An der Strusbek 60 – 62, 22926 Ahrensburg, Tel. +49 (0)4102-463101, ir/baslerweb.com, www.baslerweb.com, ISIN DE 0005102008
Contact: Basler AG Verena Fehling Tel. +49 4102 463 101 Email: Verena.fehling@baslerweb.com
08.08.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | Basler AG |
An der Strusbek 60-62 | |
22926 Ahrensburg | |
Germany | |
Phone: | 04102-463 0 |
Fax: | 04102-463 109 |
E-mail: | ir@baslerweb.com |
Internet: | www.baslerweb.com |
ISIN: | DE0005102008 |
WKN: | 510200 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1963529 |
End of News | EQS News Service |
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1963529 08.08.2024 CET/CEST