Basler Vision Technologies AG

euro adhoc: Basler Vision Technologies AG
Basler Achieves Turnaround and Expects Profitable Growth (E)

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Basler Achieves Turnaround and Expects Profitable Growth

Euro 35.7 mill. turnover 2003 - increased by +34% on 2002

Euro 44.9 mill. incoming orders 2003 - up +55% on 2002

Turnaround completed in 2003: earnings before tax Euro +0.7 mill. (2002: Euro -3.5 mill.)

Prognosis for 2004: turnover approx. Euro 42 mill., earnings before tax from Euro +1.5 to 2.0 mill.

Ahrensburg, 05.03.2004 - Basler AG, the leading company in the sector of vision technology, the technology of artificial vision, significantly increased turnover and incoming orders in 2003 on the previous year’s performance, successfully implementing turnaround.

Turnover was increased by 34% to Euro 35.7 mill. in 2003 (2002: Euro 26.7 mill.). Both company segments contributed to this turnover growth. Vision Components (high-performance cameras for industrial applications) increased turnover by 49% from Euro 8.7 mill. (2002) to Euro 13.0 mill. (2003). Vision Systems (ready-to-use inspection systems for mass production) increased sales by 27% to Euro 22.7 mill. (2002: Euro 17.9 mill.). The turnover growth was mostly generated by product innovations and led to an increase in the market share on all target markets.

In view of the increased sales and an optimized cost structure, earnings before tax came to Euro +0.7 mill. in 2003 (2002: Euro -3.5 mill.). Due to losses brought forward from previous years, the tax result amounts to Euro +2.2 mill., making clearly positive net earnings of Euro +3.0 mill. (2002: Euro -3.5 mill.). Both company segments played a role in this development: Vision Components generated earnings before interest, tax and dividends of Euro +1.4 mill. (2002: Euro -0.3 mill.), and Vision Systems achieved earnings before interest, tax and dividends of Euro +0.5 mill. (2002: Euro -4.3 mill.). The overall earnings per share were Euro +0.85 (2002: Euro -1.00). Basler thus made profits for the first time in three years in 2003, successfully implementing turnaround. Cash flow from current business operations was also positive in 2003, at EUR 2.3 mill. as of 31.12.2003 compared to Euro -3.6 mill. in the previous year.

Incoming orders continued on a positive course. A total value of Euro 44.9 mill. of incoming orders was booked in 2003 - a rise of 55% compared to the previous year (2002: Euro 29.0 mill.). Vision Components received incoming orders to a value of Euro 13.6 mill. (2002: Euro 8.4 mill., +62%) and Vision Systems booked incoming orders for Euro 31.3 mill. (2002: Euro 20.6 mill., +52%).

Based on the positive trend for incoming orders and an unchanged positive assessment of the potential of the growth market for vision technology, Basler anticipates turnover growth to approx. Euro 42 mill. in 2004, and an increase in EBT to between Euro +1.5 and +2.0 mill.

The Annual Report is available to download at www.baslerweb.com.

end of announcement            euro adhoc 05.03.2004
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Further inquiry note: Christian Höck Tel.: +49 (0)4102 463 175 E-Mail: christian.hoeck@baslerweb.com

Branche: Semiconductors & active components
ISIN:      DE0005102008
WKN:        510200
Index:    CDAX, Prime All Share, Prime Standard, Technologie All Share
Börsen:  Frankfurter Wertpapierbörse / regulated dealing
              Berliner Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Hamburger Wertpapierbörse / free trade
              Bremer Wertpapierbörse (BWB) / free trade
              Börse Düsseldorf / free trade
              Baden-Württembergische Wertpapierbörse / free trade



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