EANS-Adhoc: Basler reports business figures for 2009: Forecast reached, cash flow positive, positive outlook for 2010
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31.03.2010
- Sales: Euro 33.7 million - Earnings before taxes: Euro -8.0 million - Cash flow from operational activity: Euro 5.9 million
Ahrensburg, March 31, 2010 - BASLER AG, one of the internationally leading companies of Vision Technology, is presenting today its audited annual report for 2009.
In fiscal year 2009, the group's sales declined by 40.4 % to Euro 33.7 million (previous year: Euro 56.5 million) due to the global economic and financial crisis. Earnings before taxes declined from Euro 2.9 million in 2008 to Euro -8.0 million in 2009. Profit before taxes, interest, and depreciations (EBITDA) declined to Euro 0.5 million (previous year: Euro 11.0 million). The gross profit margin declined to 29.7 % after 38.6 % in the previous year. Due to value adjustments on capitalized loss carryforwards the net results (EAT) decreased from Euro 2.1 million to Euro -10.6 million. The earnings per share (EPS) amounted to Euro -3.02 in fiscal year 2009 (previous year: Euro 0.59). The forecasts made for fiscal year 2009 were therewith reached.
Despite the decline in sales Basler AG has achieved a positive cash flow. The cash flow from operational activity amounted to Euro 5.9 million after Euro 12.3 million in the previous year. This result can be ascribed to intense management of the working capital that declined by 40.1 % compared to the previous year.
The Components business segment has mastered the economic and financial crisis in 2009 comparatively well. Due to the diverse customer and industry structure we were able to limit the decline in sales compared to the previous year to nearly 20 % and to realize sales revenues of approx. Euro 24 million. We are very satisfied with having realized growth of approx. 30 % compared to the previous year in the Gigabit Ethernet camera segment despite unfavorable economic conditions. The Gigabit Ethernet camera segment has meanwhile become the most important segment in industrial camera business. With this we were able to further extend our market leadership. In our business started in 2008 with IP cameras for the video surveillance market, we have fulfilled our business plan in 2009. Incoming orders and sales in our components business have noticeably increased again during the second half year of 2009. We therefore want to continue in fiscal year 2010 from the good results of 2008.
Our Solutions business segment which is strongly focused on specific industries and traditionally cyclic, was massively affected by the negative repercussions of the economic and financial crisis. The sales of inspection solutions declined in comparison to 2008 by approx. 60 % to approx. Euro 10 million. Large excess capacities in the LCD market and a resulting almost total stop of equipment investment were the principal reasons for this decline in sales. In parallel to this there was a rapid fall in prices in the solar market in the year just ended. Combined with considerably aggravated financing conditions, equipment investment declined also in the solar industry significantly, compared to 2008. This overall very difficult market environment has slightly improved again only toward the end of fiscal year 2009.
For 2010, Basler AG expects a positive result again due to the positive trend in incoming orders and the break-even point having been significantly lowered in 2009. Growth will mainly be sustained by the components business and with the currently still low activity of our solutions business, will mainly be effected in the second half year. The economic conditions in the components business have significantly improved already in the second half-year of 2009. In our solutions business, the forces for economic upturn have been increasing noticeably since the beginning of the new fiscal year. However, sales in 2010 are likely to still remain clearly below the level of 2008.
Basler AG, Dr. Dietmar Ley (CEO), An der Strusbek 60 - 62, 22926 Ahrensburg, Tel. +49 (0)4102-463100, ir/baslerweb.com, www.baslerweb.com, ISIN DE 0005102008
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Maren Schuster
Investor Relations
Telefon: +49(0)4102 463-100
E-Mail: ir@baslerweb.com
Branche: Semiconductors & active components
ISIN: DE0005102008
WKN: 510200
Index: CDAX
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade
Original content of: Basler AG, transmitted by news aktuell