Business figures for the first half-year of 2022

• Incoming orders: Euro 147.9 million (previous year: Euro 152.4 million, -3 %)
• Sales: Euro 130.8 million (previous year: Euro 115.2 million, +14 %)
• EBITDA: Euro 23.0 million (previous year: Euro 29.7 million, -23 %)
• Earnings before taxes: Euro 14.8 million (previous year: Euro 20.8 million -29 %)
• Pre-tax profit margin: Euro 11.3 % (previous year: 18.1 %)
• Net profit for the period: Euro 11.5 million (previous year: Euro 15.7 million, -27 %)
• Free cash flow: Euro -34.4 million (previous year: Euro 10.6 million)

Ahrensburg, August 3, 2022 – BASLER AG, a leading provider of image processing components for computer vision applications, is today presenting final figures for the first half-year of 2022.

The Basler group reached new record sales in the first six months and broke through the barrier of 1000 employees. The first half-year of 2022 was characterized by the ongoing semi-conductor crisis, Chinese lockdowns, a normalization of demand, and the active strategic efforts to become a full-range provider for image processing components with direct market access.

Compared to the reference period 2021, sales increased by 14 % to Euro 130.8 million (previous year: Euro 115.2 million). Compared to the strong first half-year of 2021, incoming orders slightly decreased by 3 % to Euro 147.9 million (previous year: Euro 152.4 million). After six quarters with very high incoming orders and significant positive book-to-bill ratios, incoming orders normalized in the course of the first half-year. This normalization additionally accelerated due to lock-down related market weaknesses in China in the second quarter.

As at the end of June 2022, the VDMA (Verband Deutscher Maschinen- und Anlagenbau, German Engineering Federation) reported an increase of sales and incoming orders of 5 % each for the German manufacturers of image processing components for the accrued year 2022. Despite very high order backlogs in the industry, sales only increased moderately due to scarce semi-conductor components. Consequently, the Basler group’s sales developed  better than the market, however, was slightly weaker regarding incoming orders due to its large share of business in China.

Compared to the very strong previous year, earnings before taxes decreased by Euro 6.0 million to Euro 14.8 million (previous year: Euro 20.8 million). However, at 11.3 % (previous year: 18.1 %) the pre-tax return margin is on a very solid level and in the upper range of the forecast as well as close to the working point of Basler’s profitable growth strategy aiming at a pre-tax return margin of approximately 12 % as well as a medium sales growth of 15 % per year. The net profit for the period amounted to Euro 11.5 million and thus was 27 % below the previous year’s figure of Euro 15.7 million.

The cash flow position in the first half-year of 2022 was strongly affected by extraordinary effects from the Korean M&A transactions. Against this background, the free cash flow amounted to Euro -34.4 million (previous year: Euro 10.6 million) in the reporting period.

The Basler group closed the first six months of the financial year 2022 along its growth forecast. Despite decreasing incoming orders, lock-down related risks in demand in China, and a weakening economy, the management is fundamentally optimistic about the rest of the year. The high order backlog of approximately Euro 145 million leads to a strong demand situation in the upcoming quarters. Sales will mainly depend on the supply situation of critical semi-conductor components in the second half of the financial year. In order to adequately consider these risks, the management confirms its forecast until further notice, even though the level of business was at the upper end of the forecast corridor in the first half of the year. This provides for group’s sales of Euro 235 – 265 million at a pre-tax return margin of 9 – 12 %. 

The full half year report 2022 can be seen on the company website (www.baslerweb.com).