Corporate News
Business Figures / Three-month Report

Business figures for the first three months of 2019:
Basler closes the first three months of 2019 along its sales and result forecast

- Incoming orders: Euro 42.0 million (previous year: Euro 46.1 million, -9 %)

- Sales: Euro 39.3 million (previous year: Euro 44.9 million, -13 %)

- EBITDA: Euro 6.0 million (previous year: Euro 14.0 million, -57 %)

- Pre-tax result: Euro 3.1 million (previous year: Euro 10.8 million, -71 %)

- Pre-tax return rate: 8 % (previous year: 24 %)

- Period surplus: Euro 1.5 million (previous year: Euro 8.1 million, -82 %)

- Free cash flow: Euro -6.2 million (previous year: Euro -4.2 million)

Ahrensburg, May 9, 2019 - BASLER AG, the leading global manufacturer of industrial cameras, is presenting today final figures for the first three months of 2019.

In a very weak market environment, the group's incoming orders amounted to Euro 42.0 million (previous year: Euro 46.1 million, -9 %) in the first three months. The group's sales of Euro 39.3 million were 13 % below the very strong previous year's level which reached a sales record of Euro 44.9 million.

The market-related weak sales level comes upon an organization that considerably grew organically as well as inorganically. Within the currently weak market situation, the strategic expansion of the organization of the past quarters together with the subsequent costs increases, particularly in R&D as well as marketing and sales, led to a decline of the pre-tax result to Euro 3.1 million (previous year: Euro 10.8 million, -71 %). The after-tax result amounted to Euro 1.5 million (previous year: Euro 8.1 million). At the end of the quarter, the free cash flow summed up to Euro -6.2 million (previous year: Euro -4.2 million).

On January 1, 2019, Basler China successfully started its business. However, as expected, the first quarter was strongly affected by inventories that were acquired from the Chinese distribution business of the MVLZ company. In general, the integration process made very 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 a very modest first quarter 2019, it was according to expectations and along the forecast communicated to the capital market. Due to the positive development of incoming orders in the months of March and April, the management expects a slight seasonal upturn in the upcoming two quarters. However, in total, the economic outlook is dominated by a high uncertainty and the investment goods markets for semiconductor and electronics are clearly declining. Even though the current macroeconomic conditions have dampening effects and the risks of a recession are increasing, in principle, the management is positive about the future. 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 within a corridor of Euro 160 - 180 million (previous year: Euro 150 million) at a pre-tax return margin of 7 - 11 %.

The full three-month report 2019 can be seen on the company's website (www.baslerweb.com).
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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