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Basler AG: Basler reports business figures for 2020 - Company confirms strong annual result and gives positive forecast for 2021

DGAP-News: Basler AG / Key word(s): Annual Report Basler AG: Basler reports business figures for 2020 - Company confirms strong annual result and gives positive forecast for 2021 30.03.2021 / 07:04 The issuer is solely responsible for the content of this announcement. Basler reports business figures for 2020: Company confirms strong annual result and gives positive forecast for 2021

- Sales Euro 170.5 million (2019: Euro 162.0 million, +5 %)

- Incoming orders Euro 181.6 million (2019: Euro 166.5 million, +9 %)

- EBITDA Euro 34.6 million (2019: Euro 30.0 million, +15 %)

- Earnings before taxes Euro 20.4 million (2019: Euro 16.9 million, +21 %)

- Earnings after taxes Euro 15.1 million (2019: Euro 12.9 million, +17 %)

- Result per share Euro 1.51 (2019: Euro 1.29, +17 %)

- Free cash flow Euro 14.0 million (2019: Euro -9.7 million)

- Forecast 2021: Sales Euro 190 - 210 million, pre-tax return 12 - 14 %

Ahrensburg, March 30, 2021 - Basler AG, a leading supplier of image processing components for computer vision applications, is releasing the audited annual report for fiscal year 2020 today.

In a declining market environment characterized by Covid-19 in 2020, the group's sales increased to Euro 170.5 million (previous year: Euro 162.0 million). Incoming orders amounted to Euro 181.6 million, and were significantly higher than the previous year's level of Euro 166.5 million.

The earnings before taxes increased to Euro 20.4 million (previous year: Euro 16.9 million, +21 %). Thus, the pre-tax margin summed up to 12.0 % (previous year: 10.4 %). With these results, Basler achieves the forecast communicated to the capital market at the upper end.

The free cash flow amounted to Euro 14.0 million (previous year: Euro -9.7 million). In previous reporting periods, free cash flow was extraordinarily burdened due to earn out payments for past acquisitions.

The financial year 2021 was characterized by uncertainties due to the pandemic. A positive order backlog and a positive trend in the development of incoming orders since the fourth quarter of 2020, however, made the company start the new fiscal year powerfully. The growth signals from the application fields of logistics, semiconductor and electronics as well as the confidence in China make the management optimistic for the new fiscal year. Based on current information, the Basler group plans to achieve sales within a corridor of Euro 190 - 210 million in fiscal year 2021. Depending on sales, this would result in a pre-tax return between 12 %-14 %. The basis of this assessment is a strong investment cycle in the semiconductor, electronics as well as logistics sector. Furthermore, a vaccine-related improvement of the course of the pandemic is expected for the second half-year. Moreover, it is assumed that no major supply breakdown on the supply market for electronic components will occur. This forecast is consistent with the medium-term target to achieve sales of Euro 250 until the end of 2023, at an average EBT margin of 12 %.