Basler AG closes the first three months 2024 as planned

EQS-News: Basler AG / Key word(s): Quarter Results
Basler AG closes the first three months 2024 as planned

07.05.2024 / 06:50 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Corporate News
Three-month result

Basler AG closes the first three months 2024 as planned

  * Incoming orders Euro 44.0 million (previous year: Euro 54.1 million, -19
    %

* Sales Euro 43.5 million (previous year: Euro 56.3 million, -23 %)

* EBITDA Euro 1.0 million (previous year: Euro 3.6 million, -72 %)

* EBT Euro -3.6 million (previous year: Euro -1.6 million)

* EAT Euro -3.9 million (previous year: Euro -2.2 million)

* Free cash flow Euro -3.4 million (previous year: Euro -7.7 million)

Ahrensburg, May 7, 2024 - BASLER AG, a leading provider of image processing
components for computer vision applications, is today presenting final
figures for the first three months of 2024.

Incoming orders amounted to Euro 44.0 million (previous year: Euro 54.1
million) in the first three months of 2024. Compared to the previous
quarter, incoming orders grew by 14 % and were slightly higher than sales.
Compared to the same period of the previous year, sales decreased by 23 % to
Euro 43.5 million (previous year: Euro 56.3 million). The incoming orders to
sales ratio was balanced for the first time in six quarters. The gross
margin also improved and reached the previous year's level at 44.6 %.

The reason for the low level of incoming orders and sales was the
persistently weak demand from the equipment industries for consumer
electronics, logistics and laboratory automation in Asia and North America.
In contrast, demand in Europe was relatively robust in the first quarter.
Increased customer inventories resulting from over-ordering during the chip
crisis further dampened already low demand. High interest rates and
geopolitical tensions continued to prevent the business climate in capital
goods markets from improving at the end of the quarter.

The free cash flow, the sum of cash flow from operating activities and cash
flow from investments, amounted to Euro -3.4 million (previous year: Euro
-7.7 million).

The restructuring program was largely completed by the end of 2023 and the
break-even point was reduced to below Euro 200 million in sales. As all
follow-up measures are running according to plan and a weak start to the
year has been taken into account in the forecast; the forecast for 2024 is
confirmed. Accordingly, the management expects to achieve sales of between
Euro 190 - 210 million and a pre-tax margin of between 0 - 5 %.

The forecast takes into account the fact that excess inventories held by
customers are expected to be largely reduced by the end of the second
quarter and that the dampening effect on demand will continue to diminish
until then. In terms of original demand, there are currently no signs of a
positive turnaround in incoming orders, although this is expected in the
second half of the year.

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

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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


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07.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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   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:    1896931

End of News EQS News Service
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1896931 07.05.2024 CET/CEST