Business figures for the first half-year of 2021: Basler AG excels with record results in the first half-year and a positive outlook

• Incoming orders: Euro 152.4 million (previous year: Euro 92.3 million, +65 %)
• Sales: Euro 115.2 million (previous year: Euro 88.9 million, +30 %)
• EBITDA: Euro 29.7 million (previous year: Euro 19.8 million, +50 %)
• Earnings before taxes: Euro 20.8 million (previous year: Euro 12.8 million, +63 %)
• Pre-tax profit margin: 18.1 % (previous year: 14.4 %)
• Net profit for the period: Euro 15.7 million (previous year: Euro 9.6 million, +64 %)
• Free cash flow: Euro 10.6 million (previous year: Euro 1.8 million)

BASLER AG, a leading provider of image processing components for computer vision applications, is today presenting final figures for the first half-year of 2021.

The Basler group closed the first six months of 2021 with excellent results and thus laid a solid basis for the remainder of the challenging business year 2021.

Compared to the reference period 2020, sales increased by 30 % to Euro 115.2 million (previous year: Euro 88.9 million). Incoming orders increased by 65 % to Euro 152.4 million (previous year: Euro 92.3 million). Incoming orders increased significantly in the second quarter and more than doubled compared to the previous year.

Again in the first half-year, Basler developed better than the industry. As of the end of June, the VDMA (Verband Deutscher Maschinen- und Anlagenbau, German Engineering Federation) reported an increase in sales of 17 % for the German manufacturers of image processing components. According to the VDMA, the incoming orders of the industry increased by 29 % in the same period. Consequently, the Basler group continued to considerably increase its market shares.

Compared to the previous year, earnings before taxes increased by Euro 8.0 million to Euro 20.8 million (previous year: Euro 12.8 million, +63 %), thus, the pre-tax return rate amounted to 18.1 %. The net profit for the period increased by 64 % to Euro 15.7 million (previous year: Euro 9.6 million).

The company thus recorded the strongest half-year in the company’s history in terms of incoming orders, turnover and profit.

Despite the strong growth and the subsequent increase in receivables, the free cash flow is significantly above the previous year’s level. In contrast to this, compared to the first half-year of 2020, extraordinary burdens due to M&A payments were considerably lower in the current financial year. In the reporting period, the free cash flow amounted to Euro 10.6 million (previous year: Euro 1.8 million).

The group closed the first six months of the current financial year 2021 very successfully above expectations and started with a very positive ratio between incoming orders and sales into the third quarter of 2021. The positive trend of demand for image processing components in applications for semiconductor and electronics as well as logistics typically weakens in the second half-year due to seasonal reasons. However, due to the bottlenecks for semiconductor and electronics components and the increasing demand in the automation and medical sectors, management expects the seasonal fluctuation to be milder until the end of this year.

Despite the strong incoming orders and the positive market outlook, management confirms its growth forecast until further notice. The reason for this is the continuing shortage in semiconductor components, which will presumably considerably limit the group’s maximum production volume in the upcoming months. The current growth forecast provides for group’s sales of Euro 205 – 225 million at a pre-tax return margin of 13 – 15.5 %. This yield includes increasing personnel costs and material costs in the course of the second half-year that will be caused by new hirings and the reduction of Corona restrictions. In addition, the yield forecast takes into account a slight decrease in the gross profit margin due to increased material costs from interim purchases from brokers.

Despite all operational challenges, the management is very positive about the future and will update its medium-term business planning at the end of the year. This currently envisages achieving sales of approximately Euro 250 million in 2023.

The full half year report 2021 can be seen on the company’s website (www.baslerweb.com).