Basler Ag · XETR:BSL

Basler — H1 2018 Earnings Presentation

23 slides from Basler's earnings presentation, Aug 13, 2018

  1. Slide 1: First Half Year Report, 2018

    First Half Year Report, 2018 August 13, 2018 Dietmar Ley | CEO Public | © Basler AG

  2. Slide 2: Agenda

    Agenda 1. Executive Summary 2. Financials 3. Share 4. Outlook Public | © Basler AG 2

  3. Slide 3: Executive Summary: Highlights First Half Year 2018

    Executive Summary Highlights First Half Year 2018 Strong growth in a cooling-off market environment  Market order intake down by -14% and billings down -2% (source: VDMA, YTD-June 2018); healthy market conditions but less dynamic than same period last year  Significant weaker demand in the electro

  4. Slide 4: Executive Summary: Highlights First Six Months 2018

    Executive Summary Highlights First Six Months 2018 Main new product introductions  New Basler ace cameras with CMOS sensors  Launch of new Basler ace MED product line  Introduction of new embedded vision interface: “BCON for Mipi” Public | © Basler AG 4

  5. Slide 5: Two M&A Transactions in July 2018

    Executive Summary Two M&A Transactions in July 2018 Manufacturer of Image Processing Cards  20 years in business  ~50 employees China Distribution  ~10 million Euro sales (2018e)  ~20 years distribution for Basler  Located in Mannheim  ~100 employees  Immediate effect  ~1000 customers  Plan

  6. Slide 6: Agenda

    Agenda 1. Executive Summary 2. Financials 3. Share 4. Outlook Public | © Basler AG 6

  7. Slide 7: Development of Booking and Billings

    Financials Development of Booking and Billings Revenue mill. €* 60 Order Entry mill. €** 45 46 42 43 40 38 36 34 29 29 26 27 26 26 27 24 25 22 23 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2016 2017 2018 * Mycable included since June 2017 ** Mycable included since January 2018 Public | © Basler AG 7

  8. Slide 8: Revenue Split by Regions

    Financials Revenue Split by Regions 14% 40% 46% *as of June 30, 2018 Public | © Basler AG 8

  9. Slide 9: Development of Gross Profit and Margin

    Financials Development of Gross Profit and Margin 53.2% 54.3% 54.7% 54.3% 54.7% 48.8% 49.6% 50.9% 51.2% 50.6% 50.8% Gross 43.6% Profit/Margin IFRS (incl. R&D Depreciation) Gross Profit/Margin HGB 23.3 24.4 22.9 21.8 22.7 21.5 21.0 19.3 19.5 18.0 14.2 12.7 Q1 Q2 Q3 Q4 Q1 Q2 2017 2018 Public | © Basle

  10. Slide 10: EBT Development by Quarter

    Financials EBT Development by Quarter EBT mill. € EBT % 24.4% 24.9% 24.1% 21.8% 22.1% 10.3 10.6 10.8 3.4% 7.9 8.5 1.0 Q1 Q2 Q3 Q4 Q1 Q2 2017 2018 Public | © Basler AG 10

  11. Slide 11: P&L KPIs HY1/2018 vs HY1/2017

    Financials P&L KPIs HY1/2018 vs HY1/2017 (in € mill.) HY1/2017 HY1/2018 +/- Order Entry 100.4 79.8 -21 % Sales 78.5 83.4 +6 % Gross Profit 50.3 % 50.6 % 0 Pp. EBITDA 23.0 24.4 +6 % EBIT 18.5 19.3 +4 % EBT 18.2 19.2 +5 % Net Income 13.0 14.6 +12 % EPS* 4.03 4.53 +12 % * EPS in € Public | © Basler AG

  12. Slide 12: Free Cashflow Development by Quarter

    Financial Free Cashflow Development by Quarter FCF mill. € 17.2 OCF mill. € 13.9 13.2 ICF mill. € 10.0 4.2 4.2 2.8 1.7 2.5 0.5 -1.1 Q1 Q2 Q3 Q4 Q1 Q2 -2.5 -1.7 -2.3 -3.2 -3.3 -4.2 -3.1 2017 2018 Public | © Basler AG 12

  13. Slide 13: Cashflow HY1/2018 versus HY1/2017

    Financials Cashflow HY1/2018 versus HY1/2017 (in € mill.) HY1/2017 HY1/2018 Cash, b.o. period 19.4 36.0 Cashflow from Operations 11.4 12.2 Cashflow from Investments -7.3 -6.3 Free Cashflow 4.1 5.9 Cashflow from Financing -2.6 -5.6 Cash, e.o. period 20.9 36.3 Public | © Basler AG 13

  14. Slide 14: Net Cash

    Financials Net Cash (in € mill.) Dec. 31st, June 30th, +/- 2017 2018 Liabilities to banks -11.0 -13.3 +21 % Cash & Cash equivalents 36.0 36.3 +1 % Operative Net Cash 25.0 23.0 -8 % Public | © Basler AG 14

  15. Slide 15: New Hires and Distribution by Function

    Financials New Hires and Distribution by Function ~46 new hires PRODUCTION during HY1/2018 30% 570* SALES & MARKETING 29% R&D 27% ADMINISTRATION 14% *570 fulltime equivalent jobs e/o HY1/2018 Public | © Basler AG 15

  16. Slide 16: Agenda

    Agenda 1. Executive Summary 2. Financials 3. Share 4. Outlook Public | © Basler AG 16

  17. Slide 17: Basler Share versus TecDax

    Share Basler Share versus TecDax 120,00 115,00 110,00 105,00 100,00 Basler Xetra TecDax 95,00 90,00 85,00 80,00 01.01.2018 01.02.2018 01.03.2018 01.04.2018 01.05.2018 01.06.2018 Public | © Basler AG 17

  18. Slide 18: Agenda

    Agenda 1. Executive Summary 2. Financials 3. Share 4. Outlook Public | © Basler AG 18

  19. Slide 19: Business Outlook

    Outlook Business Outlook Based on the positive first six months, we…  expect bookings and billings to decline in the 2nd half of the year due to seasonal effects  will continue to grow and adjust the organization, thus increase OPEX over the course of the year  estimate ~5 mill. € additional reve

  20. Slide 20: 2018 Guidance

    Outlook 2018 Guidance We confirm our guidance from February 23rd, 2018  Revenue 145 - 160 mill. €  EBT-Margin 13 – 15 % Public | © Basler AG 20

  21. Slide 21: 2022 Outlook: Financial Mid-term Plan

    2022 Outlook Financial Mid-term Plan * Cash Conversation Rate FCF/EAT ** Mid-term goals, 2022 Public | © Basler AG 21

  22. Slide 22: 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

  23. Slide 23: Questions & Answers

    Questions & Answers Verena Fehling Phone +49 4102 463 101 Verena.Fehling@baslerweb.com Public | © Basler AG 23

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