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Strong Annual Result for 2020 and Positive Outlook for 2021

Strong Annual Result for 2020 and Positive Outlook for 2021

The Basler AG has released 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 %).

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 % and 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 million until the end of 2023, at an average EBT margin of 12 %.

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