Basler's business figures for 2019
Sales and incoming orders above previous year's level
The industrial camera manufacturer Basler AG significantly increased its sales and incoming orders in 2019 compared to the previous year. However, the company is only venturing a forecast for the first half of the year due to the coronavirus pandemic.
In 2019, Basler increased its group sales to € 162.0 million (previous year: € 150.0 million). At € 166.5 million, incoming orders were also up on the previous year's figure of € 154.0 million.
Pre-tax earnings fell to EUR 16.9 million (previous year: EUR 24.5 million, -31%), primarily due to planned strategic investments in the form of personnel expansion. The pre-tax return thus amounted to 10.4 percent (previous year: 16.3 percent). With these results, Basler fulfills the forecast communicated to the capital market.
The free cash flow as the sum of the cash flow from operating activities and the cash flow from investments reached a value of EUR -9.7 million (previous year: EUR 1.3 million). This was impacted by the acquisition of MVLZ Sanbao Xingye in 2019.
Current situation and forecast
After a phase of market decline of around 10 percent in 2019, the Basler Group assumed a structural stabilization to low single-digit growth in the market for the 2020 financial year until the beginning of March. However, according to the Basler management, the outbreak of the coronavirus at the turn of the year and the pandemic spread are currently leading to a sharp change in the economic outlook and a high risk of a global recession. Even though the sales and procurement market situation of the Basler group has been relatively stable so far, the company's management board expects noticeable effects in the course of the coming quarters. However, the effects cannot yet be quantified due to the topicality of the events.
Due to these uncertainties, the management board of Basler AG has decided to only provide a forecast for the first half of the year for the time being. The outlook for the entire fiscal year is to follow together with the publication of the half-year report. For the first half of 2020, the group expects a sales corridor of EUR 70-78 million with a pre-tax return of between 6 and 10 percent. This forecast is based on the assumption that the situation in China will continue to gradually improve over the course of the second quarter and that there will be a significant slowdown in demand in Europe and North America in the second quarter.
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