Basler Ag · XETR:BSL

Basler — FY2014 Earnings Presentation

44 slides from Basler's earnings presentation, Mar 24, 2015

  1. Slide 1: Final Results 2014

    Final Results 2014 Hardy Mehl (CFO/COO) March 24th, 2015 1

  2. Slide 2: Disclaimer

    Disclaimer This document includes forward looking statements on Basler AG, its subsidiaries and associates, and on the economic und political conditions that may influence the business performance of Basler AG. All these statements are based on assumptions made by the Executive Board using informati

  3. Slide 3: Agenda

    Agenda  Company Profile  Growth Strategy  Review & Financials  Outlook 3

  4. Slide 4: Company Profile: Who We Are

    Company Profile Who We Are  A public listed family business  The most trusted name in industrial cameras  Founded in 1988  396 employees*  Revenue € 79 million (2014)  Headquarters in Ahrensburg, Germany *FTEs as of December 31, 2014 4

  5. Slide 5: Company Profile: What We Make

    Company Profile What We Make  Cameras, made for  professional users (e.g. OEMs)  usage in investment goods (i.e. integration into machines)  automated imaging applications (e.g. quality inspection, license plate reading, blood analysis, face recognition)  8 - 10 year product life cycle 5

  6. Slide 6: Company Profile: Which Markets We Serve

    Company Profile Which Markets We Serve FACTORY ITS Medical Misc. & Sales: 60–70 % Sales: 10-15% Sales: 10-15% New Business CAGR: + CAGR: ++ CAGR: ++ Sales: 5–10 % CAGR: +++ 6

  7. Slide 7: Company Profile: Our Employees

    Company Profile Our Employees PRODUCTION 25% SALES & MARKETING 396* 30% ADMINISTRATION R&D 20% 25% *396 fulltime equivalent jobs as of December 31, 2014 7

  8. Slide 8: Experienced Management-Team

    Company Profile Experienced Management-Team Dr. Dietmar Ley Arndt Bake John P. Jennings Hardy Mehl (Chief Executive Officer) (Chief Marketing Officer) (Chief Commercial Officer) (Chief Financial Officer, Chief Operations Officer) ▪ Joined Basler in 1993 ▪ Joined Basler in 2001 ▪ Joined Basler in 199

  9. Slide 9: Basler Share

    Company Profile Basler Share *as of December 31, 2014 9

  10. Slide 10: Agenda

    Agenda  Company Profile  Growth Strategy  Review & Financials  Outlook 10

  11. Slide 11: What Drives Us: Our Vision

    What Drives Us Our Vision Advances in technology will improve the quality of our lives We give technology the power of sight 11

  12. Slide 12: We Are Helping to Inspect Steel, Paper and Plastic

    Vision & Mission We Are Helping to Inspect Steel, Paper and Plastic 12

  13. Slide 13: We Are Helping To Make American School Buses Safer

    Vision & Mission We Are Helping To Make American School Buses Safer 13

  14. Slide 14: We Are Helping To Make Tunnels Safer

    Vision & Mission We Are Helping To Make Tunnels Safer 14

  15. Slide 15: We Are Helping to Analyze Sports Events

    Vision & Mission We Are Helping to Analyze Sports Events 15

  16. Slide 16: We Are Helping To Develop Better Eye-Care

    Vision & Mission We Are Helping To Develop Better Eye-Care 16

  17. Slide 17: We Are Helping To Make Trains Safer

    Vision & Mission We Are Helping To Make Trains Safer 17

  18. Slide 18: Where We Are Going: Strategic Goals

    Where We Are Going Strategic Goals* *Mid-term goals, 2019 18

  19. Slide 19: How We'll Get There: Strategy, Market Position

    How We’ll Get There Strategy, Market Position High Tomorrow End ■ Maintain position in High-End ■ Expand position Mainstream in Mainstream ■ Expand position in Entry-Level Entry Level 19

  20. Slide 20: Our Cameras Helping Autonomous Construction Machines?

    How We’ll Get There Our Cameras Helping To Make Autonomous Construction Machines? 20

  21. Slide 21: Our Cameras Helping Make Kiosks Easier To Use?

    How We’ll Get There Our Cameras Helping To Make Kiosks Easier To Use? 21

  22. Slide 22: Our Cameras Helping Automate Self-Checkout Systems?

    How We’ll Get There Our Cameras Helping To Automate Self-Checkout Systems? 22

  23. Slide 23: Basler Growth Story – Camera Revenue

    How We Measure Up Basler Growth Story – Camera Revenue 80.000 K€ Average Averageannual annualgrowth growth ~=21% 25% Average Average market market growth growth ~ 10% = 10% 60.000 K€ 40.000 K€ 20.000 K€ 0 K€ 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 * Numbers in million € 23

  24. Slide 24: Basler Growth Story – Sold Camera Units

    How We Measure Up Basler Growth Story – Sold Camera Units 200.000 175.000 Average annual growth = 38% 150.000 Average annual growth = 49% 125.000 100.000 75.000 50.000 25.000 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 * Numbers in k Production Units 24

  25. Slide 25: Agenda

    Agenda  Company Profile  Growth Strategy  Review & Financials  Outlook 25

  26. Slide 26: Highlights FY 2014 (1/2)

    Review 2014 Highlights FY 2014 (1/2)  Exceeded record results of 2013 by far and accelerated company growth  Grew more than twice as fast as the German image processing components industry  Self financed growth with a significant positive free cash flow 26

  27. Slide 27: Highlights FY 2014 (2/2)

    Review 2014 Highlights FY 2014 (2/2)  Further penetrated mainstream and entry level markets with existing and new product launches such as Basler dart or Basler ace with CMOS sensors  Introduced Basler lens products  Opened a new production facility in Singapore for local demands  Hired 52 new e

  28. Slide 28: Revenue & Order Entry

    Revenue & Order Entry Last 8 Quarters 20.000 K€ 15.000 K€ 10.000 K€ Revenue [K€] Order Entry [K€] 5.000 K€ 0 K€ Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2013 2014 28

  29. Slide 29: Gross Profit

    Gross Profit Absolute and by Percentage 14.000 K€ 53,5% 54% 52,3% 52,0% 12.000 K€ 50,9% 52% 51,0% 50,1% 50,3% 10.000 K€ 50% 47,0% 8.000 K€ 48% 6.000 K€ Gross Profit [K€] 46% Gross Profit [%] 4.000 K€ 2.000 K€ 44% 0 K€ 42% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2013 2014 29

  30. Slide 30: Earnings Before Tax

    Earnings Before Tax Absolute and by Percentage 4.500 K€ 24% 4.000 K€ 18,4% 18,2% 3.500 K€ 19% 3.000 K€ 12,2% 12,0% 12,1% 14% 2.500 K€ 11,1% 10,8% 2.000 K€ EBT [K€] 7,0% 9% 1.500 K€ EBT [%] 1.000 K€ 4% 500 K€ 0 K€ -1% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2013 2014 30

  31. Slide 31: Free Cashflow

    Free Cashflow By Quarters 4.000 K€ 3.500 K€ 3.000 K€ 2.500 K€ 2.000 K€ 1.500 K€ 1.000 K€ 500 K€ 0 K€ -500 K€ -1.000 K€ -1.500 K€ Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2013 2014 31

  32. Slide 32: Results FY 2014: Profit & Loss

    Results FY 2014 Profit & Loss FY 2013 FY 2014 +/- Order Entry 68.6 82.7 +21% Sales 65.1 79.2 +22% Gross Profit 32.5 41.0 +26% EBIT 8.5 12.5 +47% EBT 7.8 11.1 +42% Net Income 5.6 8.2 +46% EPS* 1.70 2.54 +49% *All numbers other than EPS in € mill., EPS in € 32

  33. Slide 33: Results FY 2014: Regional Revenue Breakdown

    Results FY 2014 Regional Revenue Breakdown 22% 42% 36% 19% 43% 38% *as of December 31, 2014 33

  34. Slide 34: Results FY 2014: Cashflow

    Results FY 2014 Cashflow FY 2013 FY 2014 +/- Cash, 8.2 9.7 +18% b.o. period Cashflow from 12.1 16.0 +32% Operations Cashflow from -6.5 -8.6 -32% Investments Free 5.6 7.4 +32% Cashflow Cashflow from -4.2 -4.2 n.a. Financing Cash, 9.7 12.8 +32% e.o. period *All numbers in € mill. 34

  35. Slide 35: Results FY 2014: Net Cash

    Results FY 2014 Net Cash December December +/- 31st, 2013 31st, 2014 Liabilities -6.0 -8.3 +38% to banks Cash & Cash equivalents 9.7 12.8 +32% Operative 3.7 4.4 +19% Net Cash *Numbers in € mill. 35

  36. Slide 36: Results FY 2014: Balance Sheet – Assets

    Results FY 2014 Balance Sheet – Assets 2013 2014 +/- Intangible assets 14.5 17.4 +20% Tangible assets 4.3 5.3 +23% Buildings and land in finance lease 16.7 16.0 -4% Deferred tax claims 0.1 0.1 0% Long-term assets 35.6 38.8 9% Inventories 9.6 12.5 +30% Receivables from delivieries and service 6.9 7.0

  37. Slide 37: Results FY 2014: Balance Sheet – Liabilities

    Results FY 2014 Balance Sheet – Liabilities 2013 2014 +/- Equity 32.5 37.7 +15% Long-term interest bearing bank 5.6 7.4 +32% liabilites Liabilities from finance lease 12.9 11.5 -11% Other long-term liabilities 1.7 3.4 +100% Long-term liabilities 20.2 22.3 +10% Current financial debt 1.5 2.3 +53% Sho

  38. Slide 38: Results FY 2014: Dividend Proposal

    Results FY 2014 Dividend Proposal Dividend proposal for 2014: € 0.70 per share  Base-component: € 0.20 per share  Optional performance-component: € 0.50 38

  39. Slide 39: Basler Share versus TecDax

    Results FY 2014 Basler Share versus TecDax 180,00 160,00 140,00 120,00 100,00 80,00 60,00 BSL TecDAX 39

  40. Slide 40: Agenda

    Agenda  Company Profile  Growth Strategy  Review & Financials  Outlook 40

  41. Slide 41: Outlook: Macro Environment

    Outlook Macro Environment  Market is forecasted to grow with approximately 5% (Source: VDMA)  Macro-economic uncertainties and geopolitical crises are assumed to have limited business effects  Strong US Dollar will lead to positive margin effects, subdued by natural and financial hedge  Stable J

  42. Slide 42: Outlook: Mid-term Critical Success Factors

    Outlook Mid-term Critical Success Factors  Further expand market leadership in Gigabit-Ethernet camera market  Ramp-up USB3 product line & leverage early-mover advantage  Successful launch of new products: Basler dart, Basler pulse, Basler ace models and Basler lenses  Leverage market opportunit

  43. Slide 43: Outlook: Guidance 2015

    Outlook Guidance 2015  Sales € 81 – 84 mill.  EBT-Margin 9 – 10 %  Positive free cashflow 43

  44. Slide 44: Ask Questions

    Ask Questions Get Answers Verena.Fehling@baslerweb.com Tel. +49 4102 463 101 44

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