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Basler Vision Technologies AG

EANS-Adhoc: Basler AG
Profit turnaround reached - Growth in sales and positive result for 2010 in sight.

  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
06.05.2010
-Profit turnaround reached sooner than expected -Demand for digital 
cameras increased reaching new record level -Short-time work ended 
-Incoming orders: EUR 12.2 million (previous year: EUR 7.1 million, 
+72 %) -Sales: EUR 9.3 million (previous year: EUR 8.0 million, +16 
%) -Pre-tax earnings: EUR 0.4 million (previous year: EUR -2.0 
million, EUR +2.4 million) -Cash flow: -0.2 Mio. EUR (previous year: 
EUR 2.2 million, EUR -2.4 million) -Forecast for 2010: growth in 
sales in the double-digit percentage range, positive earnings before 
taxes
Ahrensburg, May 06, 2010 - The first quarter of 2010 went better than
expected for Basler AG. Incoming orders, sales, and pre-tax earnings 
were above the previous year's values and above the values in our 
budget. With positive pre-tax earnings, the profit turnaround was 
reached sooner than planned.
The group's sales amounted to EUR 9.3 million in the reporting 
period, exceeding the previous year's value of EUR 8.0 million by 16 
%. Incoming orders for the group increased by 72 % reaching EUR 12.2 
million (previous year: EUR 7.1 million). The gross results increased
to EUR 3.6 million (previous year: EUR 2.8 million, +29 %). The gross
margin reached 39 % corresponding to 4 percentage points above the 
previous year's value of 35 %. In the first quarter of 2010, Basler 
AG achieved a result before taxes (EBT) for the group of EUR 0.4 
million. This corresponds to an increase of EUR 2.4 million above the
previous year's value of EUR -2.0 million.
In the first three months, the operating cash flow amounted to EUR 
-0.2 million (previous year: EUR 2.2 million). The free cash flow 
calculated in the first quarter to EUR -2.2 million, declining by 
approximately EUR 2.5 million (previous year: EUR 0.3 million). 
Liquid assets amounted to EUR 4.9 million at the end of the reporting
period and therewith were lower by EUR 2.8 million compared to the 
previous year (-36 %). Compared to December 31, 2009, funds available
decreased by EUR 0.6 million (-11 %).
In the first quarter of 2010, Basler AG achieved in its "Components" 
business segment sales amounting to EUR 7.8 million. The revenue from
industrial digital cameras and for video surveillance increased by 81
% (previous year: EUR 4.3 million), slightly exceeding the level 
reached in 2008. The gross margin increased due to decreased 
production costs and positive exchange rate effects. The segment 
result before interest and taxes amounted to EUR 1.6 million 
(previous year: EUR -1.1 million, EUR +2.7 million) and was thus 
clearly in the positive range. Incoming orders reached the new record
level of EUR 10.8 million, nearly doubling the previous year's value 
of EUR 5.5 million (+96 %). The previously strongest incoming orders 
from Q2 of 2008 (EUR 8.8 million) were exceeded by 23 %. Demand 
developed positively across all regions and product lines. On the 
regional level, orders increased most strongly in Asia, followed by 
North America and Europe.
In the "Solutions" business segment revenues were realized in the 
first quarter of 2010 amounting to EUR 1.5 million (previous year: 
EUR 3.7 million, -59 %). The segment results before interest and 
taxes amounted to EUR -0.7 million. Losses decreased in comparison to
the previous year by EUR  0.1 million (EUR -0.8 million) in spite of 
substantial declines in sales due to cost cutting measures 
implemented in 2009. Resulting from the less favorable product 
portfolio, the gross margin was below the previous year's value. The 
level of operating costs, having decreased by approximately one third
compared to the comparison period, and increasing sales will result 
in distinctly improved earnings starting from the second quarter. The
equipment investment in the LCD industry further increased in the 
reporting period. Demand for solar thin film inspection solutions 
still continued to be beak.
The economic general conditions improved in the first quarter of 
2010. The economic research institutes currently expect the positive 
trend to continue at least until the end of the first half-year. 
There are still risks for a temporary slow down of the economic 
recovery in the second half-year. The German Engineering Federation 
(Verband Deutscher Maschinen- und Anlagenbau - VDMA) assumes in its 
current forecast for the German image processing industry growth in 
sales amounting to +5 % compared to the previous year.
The positive development of the first quarter confirms our projection
for fiscal year 2010, as given in the annual report for 2009. Due to 
the increased capacity utilization, we suspended the short-time work,
implemented in the beginning of 2009, at the end of the reporting 
period. In our current view, we expect sales to increase in the 
double-digit percentage range for the components business. We expect 
approximately stable sales revenues for our solutions business 
compared to the previous year. Based on the results of the first 
quarter and against the background of persistent macroeconomic risk 
for the second half-year, we expect for fiscal year 2010 sales to 
increase to a level between EUR 39 and 41 million (previous year: EUR
33.5 million). After a pre-tax loss of EUR 8 million in 2009, we are 
planning for earnings before taxes not below EUR 1.5 million for 
2010.
end of announcement                               euro adhoc

Further inquiry note:

Maren Schuster
Investor Relations
Telefon: +49(0)4102 463-100
E-Mail: ir@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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