euro adhoc: Basler AG
quarterly or semiannual financial statement
Basler
continues profitable growth after first half of the year
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
6-month report
06.08.2008
Ad hoc announcement according to §15 WpHG . Considerable improvement of fundamental data compared to previous year
< Incoming orders: +20%
< Turnover: +17%
< Pretax result: +367%
< Positive free cash flow. Profit turnaround in the solutions business achieved . Turnover and results forecast for 2008 increased
Ahrensburg, 6 August 2008 - Basler AG, one of the leading companies in the Vision Technology segment worldwide, has significantly increased its incoming orders, turnover and earnings in the second quarter of 2008 compared to previous year's figures.
In the second quarter of 2008, sales revenues amounted to EUR 15.0 million and thus increased by 17% compared to the previous year's quarter. In the first half of 2008, turnover increased by 11% to EUR 27.2 million. Earnings before taxes amounted to EUR 1.4 million (+367%) in the second quarter. In the first half of 2008, positive earnings before taxes of EUR 1.6 million were generated (+700% compared to previous year's first half). Compared to previous year's figures, incoming orders increased by 20% to EUR 18.3 million in the second quarter of 2008. In the first half of 2008, incoming orders with a value of EUR 42.1 million were generated, i.e., a 61% increase on the previous year. Free cash flow turned positive, reaching EUR 0.3 million in the second quarter of 2008 (Q2/2007: EUR -3.0 million). In the first half of 2008, free cash flow increased from EUR -2.9 million in the previous year to EUR 1.2 million.
The figures at a glance:
|in millions of Euros |Q2/ |Q2/ |+/- |1st HY |1st HY |+/- | | |2008 |2007 | |2008 |2007 | | |Turnover |15.0 |12.8 |+17% |27.2 |24.4 |+11% | |Incoming Orders |18.3 |15.3 |+20% |42.1 |26.1 |+61% | |Gross Margin (in %) |53 |45 | +8 |50 |46 |+4 | | | | |percent| | |percent| | | | |age | | |age | | | | |points | | |points | |Earnings before taxes |1.4 |0.3 |+367% |1.6 |0.2 |+700% |
Turnover in the components business (Basler Components) increased by 9% to EUR 7.6 million in the second quarter of 2008. In the first half of 2008, turnover amounted to EUR 14.9 million, i.e., a 12% increase on the previous year. Incoming orders reached EUR 8.8 million in the second quarter (compared to Q2/2007: +21%). In the first six months, incoming orders increased by 20% to EUR 17.4 million. The components segment's earnings before interest and taxes reached EUR 1.0 million in the second quarter (-17% compared to the previous year) and remained at previous year's level of EUR 2.0 million for the first half of the year.
Turnover in the solutions business (Basler Solutions) reached EUR 7.4 million in the second quarter of 2008, thus increasing by 28% compared to the second quarter of 2007. In the first half of this year, turnover amounted to EUR 12.3 million (compared to the first half of 2007: +11%). Incoming orders at Basler Solutions increased by 20% to EUR 9.5 million in the second quarter. In the first half of the year, incoming orders with a value of EUR 24.6 million were generated. With an increase of 114%, this is more than twice as much as previous year's figure. The segment's earnings before interest and taxes reached EUR 1.0 million in the second quarter of 2008 (Q2/2007: EUR -0.9 million). Thus, the solutions business unit has achieved its profit turnaround in the reporting period. In the first half of 2008, the segments earnings of EUR -46,000 were almost balanced (first half of 2007: EUR -1.6 million).
Because of the positive half yearly figures and the solid order backlog, we increase our forecast for the 2008 fiscal year despite the increasingly difficult economic situation. We now expect a medium to high single-digit percentage growth in turnover and a low to medium double-digit percentage growth in earnings before taxes while continuing to generate positive free cash flow.
The Quarterly Report is available as a download at www.baslerweb.com/financialreports. 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 / Investor Relations
Telefon: +49(0)4102 463-100
E-Mail: Verena.Fehling@baslerweb.com
Branche: Semiconductors & active components
ISIN: DE0005102008
WKN: 510200
Index: CDAX
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