EQS-News: Business figures for the first nine months of 2024: Basler AG confirmed preliminary result

Corporate News

Business figures / 9-month report
 

Business figures for the first nine months of 2024: Basler AG confirmed preliminary result

• Sales: EUR 136.7 million (previous year: EUR 157.5 million, -13 %)
• Incoming orders: EUR 133.5 million (previous year: EUR 128.3 million, +4 %)
• EBITDA: EUR 9.0 million (previous year: EUR 3.3 million, >+100 %)
• Pre-tax result: EUR -4.9 million (previous year: EUR -16.1 million, -70 %)
• Pre-tax return rate: -3.6 % (previous year: -10.2 %)
• Free cash flow: EUR 1.5 million (previvous year: EUR -11.1 million)
• Forecast 2024: Sales EUR 178 to 184 million, EBT EUR -8 to -12 million 

Ahrensburg, November 7, 2024 – Basler AG, a leading supplier of image processing components for computer vision applications, today confirms its final figures for the first nine months of 2024.

The Basler group closed the first nine months of 2024 with incoming orders of EUR 133.5 million (previous year: EUR 128.3 million, +4 %) and sales of EUR 136.7 million (previous year: EUR 157.5 million, -13 %). This resulted in a pre-tax result of EUR -4.9 million (previous year: EUR -16.1 million) with a pre-tax return rate of -3.6 % (previous year: -10.2 %). After incoming orders and sales developed positively in the first half of 2024, demand cooled again in the third quarter. Sales fell from EUR 49.5 million in the previous quarter to EUR 43.7 million. Incoming orders fell from EUR 48.5 million in the previous quarter to EUR 41.0 million. 

The operating cash flow for the first nine months amounted to EUR 12.8 million (previous year: EUR -0.1 million). Cash flow from investing activities amounted to EUR -11.3 million (previous year: EUR -11.0 million) and includes payments for investments amounting to EUR 4.2 million. In total, this led to a positive free cash flow of EUR 1.5 million (previous year: EUR -11.1 million).

The declining sales development of Basler AG coincides with a phase of restrained macroeconomic prospects, globally declining purchasing managers' indices for the industry and continuing geopolitical uncertainty. In particular, the low demand from the equipment industries for consumer electronics, logistics and laboratory automation, the subdued domestic economy in China and the increasing slowdown in the previously robust European market interrupted the slight market recovery that began in the first half of the year during the summer months. The German Engineering Federation (VDMA) therefore reduced its sales forecast for the German computer vision industry at the beginning of October and now expects industry revenue to fall by 10% year-on-year in 2024. 

Data compiled by the German Engineering Federation (VDMA) for German machine vision component manufacturers for the first nine months of the year underscore this assumption, with nominal sales at the end of September 2024 down 15 % year-on-year. In the same period, incoming orders in the industry fell by 6%.

Against this background, the management board has decided, as recently announced to the capital market, to lower the break-even point for the financial year 2025 to a level of below EUR 180 million. To this end, personnel costs will be reduced, and material costs and investments will be frozen at the current level. Most of the measures are to take effect at the beginning of the new financial year.

As a result of the accumulated loss, the weakening market in the second half of the year and the one-off expenses associated with the reduction in personnel, the management board recently made significant adjustments to the sales and earnings forecast for the 2024 financial year. Sales revenue is now expected to be within a corridor of EUR 178 to 184 million (previously EUR 190 to 200 million). The expected one-off expenses amount to around EUR 5.5 million. Depending on the occurrence of the remaining sales risks and whether the planned headcount reduction can be fully implemented by the end of 2024, this will result in a negative pre-tax result within a corridor of EUR –8 to –12 million (previously pre-tax return rate of 0 % to 3 % and pre-tax result of EUR 0 to 6 million). 

The full quarterly report can be seen on the company website (www.baslerweb.com). 

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Basler AG is a leading international expert in computer vision. The company offers a broad portfolio of image processing hardware and software. Basler works with customers to solve their vision application problems and develops customized products and solutions. Founded in 1988, the Basler Group employs around 900 people at its headquarters in Ahrensburg, Germany and at other sales and development locations in Europe, Asia and North America. 

Basler AG, Hardy Mehl (CFO/COO), An der Strusbek 60 – 62, 22926 Ahrensburg, Phone +49 (0)4102-463101, ir/baslerweb.com, www.baslerweb.com, ISIN DE 0005102008