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Basler Vision Technologies AG

EANS-Adhoc: Basler AG
Second quarter of 2009 characterised by global economic and financial crisis, trough in demand presumably reached . Incoming orders: EUR 6.7 million (previous year: EUR 18.3 million), sales: EUR 8.1 million (previous ...

  ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.
6-month report
06.08.2009
Ad hoc information pursuant to § 15 WpHG
Ahrensburg, August 06, 2009 - As of the second quarter of 2009, the 
macroeconomic conditions for manufacturers of industrial goods have 
not yet improved. The volume of equipment investment was 
characterized again by a significant reduction compared to the 
previous year. Nonetheless, there are some first indications that the
economic crisis may have reached its low during the reporting period.
The group's sales summed to EUR 8.1 million (previous year: EUR 15.0 
million, -46.0 %). With EUR 6.7 million, the incoming orders were by 
63.4 % below previous year's record value of EUR 18.3 million. The 
gross margin also deteriorated to 45.8 % (previous year: 53.1 %). The
earnings before taxes (EBT) amounted to EUR -4.9 million (previous 
year: EUR 1.4 million). This includes one-off expenses for 
cost-cutting measures amounting to approx. EUR 2.9 million. The 
earnings before taxes and before one-off expenses amounted to EUR 
-2.0 million. The net results  declined to EUR -4.1 million (previous
year: EUR 0.9 million). In the second quarter, the free cash flow 
amounted to EUR -0.8 million and accordingly declined by approx. EUR 
1.1 million compared to the previous year (Q2/2008: EUR 0.3 million).
At the end of the reporting period, liquid assets amounted to EUR 6.7
million and increased by 39.6 % compared to the previous year.
In its "COMPONENTS" business segment, Basler AG has realized sales in
the second quarter of 2009 amounting to EUR 5.6 million. Accordingly,
revenue from digital cameras declined by 26.3 % below previous year's
figure of EUR 7.6 million. In comparison to the first quarter of 2009
(EUR 4.3 million) sales increased again by 30.2 %. During the 
reporting period, incoming orders amounted to EUR 6.1 million and 
were again below previous year's figure (Q2/2008: EUR 8.8 million, 
-30.7 %). However, compared to the first quarter (Q1/2009: EUR 5.5 
million), the figure increased by approx. 10.9 %.
In the "SOLUTIONS" business segment, Basler AG has realized sales 
revenue amounting to EUR 2.5 million in the second quarter of 2009. 
This implies a decrease in sales of inspection solutions from EUR 7.4
million (-66.2 %) compared to the previous year. Incoming orders in 
the second quarter of 2009 have continued the low values of the 
previous quarter. Compared to the unusually strong quarter of the 
previous year, the orders have declined by EUR 8.8 million reaching 
the low level of EUR 0.7 million (Q2/2008: EUR 9.5 million, -92.6 %).
The result for the segment before interest and taxes amounted in the 
second quarter to EUR -3.6 million including one-off expenses for 
strategic adjustments and cost-cutting measures. Compared to the 
previous year, it therefore declined by EUR 4.6 million (Q2/2008: EUR
1.0 million).
As already stated in the report for the first quarter of 2009, since 
the beginning of the fiscal year, the Management Board has been 
reacting to the considerable decline in sales with an extensive 
catalog of measures. Starting from the assumption that the markets 
for Basler AG will only gradually recover and that recovery will 
reach into fiscal year 2011, the company has aligned itself towards 
its core businesses and core competences and towards a speedy return 
to the profit zone. The earnings before taxes of the first half-year 
of 2009 are therefore strongly characterized by one-off expenses. As 
the strategic adjustments will be almost complete by the end of 
fiscal year 2009, no further one-off expenses are planned for the 
second half-year. The intended lower cost level will already be 
reached in the course of the third quarter of 2009.
We expect slightly increasing sales for our components business and 
lower results for our solutions business in the second half of the 
year. On the group level, sales for the second half of the year 
should therefore be slightly above the levels for the first two 
quarters. Against this backdrop, we expect the group's sales for 2009
in a corridor between EUR 31 million and EUR 33 million which is 
distinctly below the sales level for 2008. Hence and due to 
significant one-off expense in the context of the cost-cutting 
program in the first quarter, we expect negative group's earnings 
before taxes in the region between EUR -8.0 million and EUR -8.5 
million. Adjusted for one-off expenses, the group's earnings before 
taxes for 2009 will be between EUR -3.5 million and EUR -4.5 million.
In the second half-year of 2009 the company will quickly approach the
break-even point due to cost relief becoming effective.
The quarterly report can be downloaded from 
www.baslerweb.com/finanzberichte. 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:

Verena Fehling
Assistant to the Board
Telefon: +49(0)4102 463-100
E-Mail: Verena.Fehling@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

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