Basler AG, a leading supplier of image processing components for computer vision applications, has released the audited annual report for the fiscal year 2020. In a declining market environment characterized by Covid-19 in 2020, the group‘s sales increased to €170.5 million (previous year: €162.0 million).
Incoming orders amounted to €181.6 million and were significantly higher than the previous year’s level of €166.5 million. The earnings before taxes increased to €20.4 million (previous year: €16.9 million, +21%). Thus, the pre-tax margin summed up to 12.0 % (previous year: 10.4%).
The free cash flow amounted to €14.0 million (previous year: €-9.7 million). In previous reporting periods, free cash flow was burdened due to earn-out payments for past acquisitions.
The financial year 2021 was characterized by uncertainties due to the pandemic. Basler says a positive order backlog and 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 €190 – 210 million in the 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 €250 million by the end of 2023, at an average EBT margin of 12%.
Basler is a leading international manufacturer of high-quality imaging components for computer vision applications. In addition to classic area scan and line scan cameras, lenses, frame grabbers, light modules, and software, the company offers embedded vision modules and solutions, 3D products, as well as customized products and consulting services. Founded in 1988, the Basler Group employs around 800 people at its headquarters in Ahrensburg and other locations in Europe, Asia and North America.
You can find more information about Basler on its website.