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Abonner Basler Vision Technologies AG

Basler Vision Technologies AG

EANS-Adhoc: Basler AG
First quarter of 2009 characterized by global economic and financial crisis

  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.
3-month report
05.05.2009
. Demand for Vision Technology products significantly declined due to
global   economic and financial crisis . Pre-tax earnings: Euro -2.0 
million (previous year: Euro 0.3 million) . Turnover: Euro 8.0 
million (previous year: Euro 12.2 million) . Incoming orders: Euro 
7.1 million (previous year: Euro 23.8 million) . Free cash flow: Euro
0.3 million (previous year: Euro 0.9 million) . Comprehensive cost 
reduction program is being realized
Ahrensburg, May 05, 2009 - The global financial and economic crisis 
and the resulting weak demand for industrial goods have significantly
impacted the business of Basler AG during the first quarter of 2009.
The group's turnover summed to Euro 8.0 million (previous year: Euro 
12.2 million, -34 %). With Euro 7.1 million, incoming orders were 
almost 70 % below previous year's record level of Euro 23.8 million. 
The gross margin, however, improved to 51 % (previous year: 47 %). 
The earnings before taxes (EBT) amounted to Euro -2.0 million 
(previous year: Euro 0.3 million). This includes one-time expenses 
for cost-cutting measures of approximately Euro 0.8 million. Adjusted
for these one-time expenses, the pre-tax earnings amounted to Euro 
-1.2 million. The net results (EAT) declined to Euro -1.6 million 
(previous year: Euro 0.1 million). In the first quarter, the free 
cash flow amounted to Euro 0.3 million and therefore decreased by 
approximately Euro 0.6 million compared to the previous year 
(Q1/2008: Euro 0.9 million, -67 %). At the end of the reporting 
period, cash and cash equivalents amounted to Euro 7.7 million and 
remained almost unchanged compared to December 31, 2008, (+0.2 %).
The BASLER COMPONENTS business unit (digital cameras for industry) 
realized a turnover in Q1/2009 of Euro 4.3 million (previous year: 
Euro 7.3 million, -41 %). With Euro 5.5 million, the incoming orders 
were by approximately 36 % below previous year's figures (previous 
year: Euro 8.6 million). This was due to customer's reductions of 
inventories at the beginning of the reporting period. During the 
further course of the first quarter, incoming orders settled at a 
higher level. The segment earnings before interest and taxes summed 
to Euro -1.1 million (previous year: Euro 1.0 million). Particularly 
noteworthy is the increase in turnover for Gigabit Ethernet cameras. 
Here, contrary to the general market trend, new record values were 
achieved in turnover and quantities delivered.
The BASLER SOLUTIONS business unit (inspection solutions for 
industrial mass production) realized a turnover amounting to Euro 3.8
million in Q1/2009 (previous year: Euro 4.9 million, -22 %). Compared
to the previous year's record value the incoming orders have 
decreased by Euro 13.5 million, reaching Euro 1.6 million (previous 
year: Euro 15.1 million, -89 %). This dramatic decrease results from 
a continued weak demand for capital goods in the LCD industry and 
from significantly reduced investments in the solar industry, 
compared to the previous year. The segment earnings before interest 
and taxes were Euro -0.8 million in Q1/2009 and therefore EUR 0.2 
million better than in the previous year (previous year: Euro -1.0 
million).
Due to declining incoming orders in the second half of 2008, the 
Management Board implemented a cost-cutting program in the beginning 
of fiscal year 2009, amounting to Euro 2.6 million in 2009 operating 
cost reductions. Owing to the deepening recession, further measures 
toward cutting cost and releasing working capital were decided upon 
in Q1/2009.
A detailed prognosis for turnover and pre-tax earnings remains 
impossible due to the low visibilities in the markets of Basler AG. 
In view of incoming orders and sales being below plan at the 
reporting date, the Management Board no longer expects break-even 
pre-tax earnings for the current fiscal year.
As on the reporting date the balance sheet of Basler AG showed a high
equity capital quota of approximately 54 %. The debt to total capital
ratio remained unchanged at the low value of 0.86. At the end of the 
reporting period, the unused financial reserves amounted to Euro 11.0
million. The execution of the cost-cutting programs will result in 
significant savings from the second half of 2009 onwards.
The quarterly report can be downloaded from 
www.baslerweb.com/finanzberichte.
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
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade

Plus de actualités: Basler Vision Technologies AG
Plus de actualités: Basler Vision Technologies AG