Ad-hoc | 13 May 2003 08:00

Basler AG english

Basler: Positive Trend Continues in 2003 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Basler: Positive Trend Continues in 2003 Sales in first quarter up 82% over prior year – 36% surge in new orders – Net loss of Euro – 0.9 million is an improvement of 69% over the year-earlier loss – Quarterly results confirm turnaround plans for 2003 Ahrensburg, 13 May 2003 – Basler AG, a leading company for vision technology, the technology behind machine vision, posted a significant increase in sales and new orders in first quarter 2003 compared to the year-earlier quarter and improved its operating results accordingly. Individual figures for the quarter: In Euro mill., Q1/2003, Q1/2002 Sales 6.3 / 3.5 Order income 8.3 / 6.1 Gross margin 58% / 64% Operating expenses -4.5 / -5.1 Operating result -0.8 / -2.9 EBITDA -0.4 / -3.2 EBIT -0.7 / -2.9 EBT -0.9 / -2.8 Net profit/loss for the period (Net margin) -0.9 (-14%) / -2.8 (-80%) Loss per share (in Euro) -0,25 / -0,80 Cash 1.2 / 2.0 Capital ratio (economic) 51% / 56% First quarter 2003 simply confirms the Managing Board’s plans to increase sales in 2003 to Euro >30 million (2002: Euro 26.7 million) and thereby post a profit for the year as a whole (2002: Euro -3.5 million). All the corporate divisions will be contributing to this sales growth, especially the Vision Components business (high-performance cameras for industrial applications). The program of strict cost management will remain in place to support achieving the earnings objective, while operating expenses in 2003 are reduced by another approximately 10% as in the previous fiscal year. The biggest share of savings will be made in the other operating expenses, which will be about 20% less than last year. The complete quarterly report is available for downloading at www.baslerweb.com. Christian Höck, Tel. +49(0)4102-463175, christian.hoeck@baslerweb.com, www.baslerweb.com end of ad-hoc-announcement (c)DGAP 13.05.2003 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Basler: Positive Trend Continues in 2003 Ahrensburg, 13 May 2003 – Both corporate divisions – Vision Systems and Vision Components – contributed to the increase in sales and improved results in first quarter 2003. The Vision Systems division posted sales of Euro 3.8 million (Q1/2002: Euro 1.8 million, +110%). This major rise in sales compared to an admittedly very weak year-earlier quarter is attributable primarily to the continuing excellent demand for DVD inspection systems within the Optical Media Inspection unit, as well as to an upswing in business for testing systems for sealing rings (Sealing Inspection). Vision Systems was even able to increase its volume of new orders. In this first quarter Vision Systems has already received orders valued at Euro 5.6 million, which is a plus of 25% over the prior-year quarter (Euro 4.5 million). Optical Media Inspection was mostly responsible for this increase. Sealing Inspection more than doubled the number of orders thanks to winning a major contract. And Display Inspection garnered a number of larger orders. All together Vision Systems posted a net loss of Euro -0.9 million (Q1/2002: Euro – 2.2 million, an improvement of +58%). With its high-performance digital cameras, the Vision Components division continued showing strong increases in sales. This division generated revenues of Euro 2.5 million in the first quarter. This is an improvement of 52% over the same quarter a year ago (Q1/2002: Euro 1.6 million). The gain in new orders was even bigger, climbing by more than 66% to Euro 2.7 million (Q1/2002: Euro 1.6 million). Net results were positive for the first time with earnings of Euro 0.2 million compared to a loss of Euro 0.4 million in Q1/2002 (+150%). This very satisfying performance in the components business is predominantly attributable to Basler increasing its market share despite a difficult operating environment. This very favorable trend is expected to continue in light of the numerous new products set to be introduced on the market this fiscal year. Liquidity improved over what was reported in the 2002 financial statements. During the past Q1/2003 period, cash and cash equivalents increased by Euro 0.8 million to Euro 1.2 million (cash as of 31 December 2002: Euro 0.4 million). Cash and cash equivalents totaled Euro 2.0 million as of the prior year’s reporting date. The economic equity totaled Euro 8.8 million (2002: Euro 9.3 million, Q1/2002: Euro 13.2 million) as of 31 March 2003 and includes shareholders’ equity of Euro 3.3 million (2002: Euro 4.1 million, Q1/2002: Euro 6.3 million), subordinated shareholder loans (Euro 4.2 million, 2002: Euro 4.1 million, Q1/2002: Euro 4.1 million) and a dormant holding (Euro 1.0 million, 2002: Euro 1.0 million, Q1/2002: Euro 0.0 million). This equates to an economic capital ratio of 51% (2002: 58%, Q1/2002: 56%). With 265 employees as of the reporting date, the staffing level increased slightly compared to the same quarter a year ago (Q1/2002: 251, +6%). The complete quarterly report is available for downloading at www.baslerweb.com. Additional Information: Christian Höck, Tel. 04102-463175, christian.hoeck@baslerweb.com. ——————————————————————————– WKN: 510200; ISIN: DE0005102008; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, München und Stuttgart 130800 Mai 03