Basler Ag · XETR:BSL
Basler — Q1 2025 Earnings Presentation
28 slides from Basler's earnings presentation, May 8, 2025
Slide 1: 3-Months Report 2025
3-Months Report 2025 May 8th, 2025 Hardy Mehl | CCO/COO Ines Brückel | CFO
Slide 2: Disclaimer
Disclaimer This document includes forward looking statements on Should these views or assumptions prove to be wholly or Basler AG, its subsidiaries and associates („Group“), and on partly incorrect, or should further risks arise, actual business the economic, political and/or legal conditions that m
Slide 3: Agenda
Agenda 01 Executive Summary 02 Financials 03 Share 04 Outlook 05 Q&A
Slide 4: Introduction Ines Brückel – Our New CFO
Executive Summary Introduction Ines Brückel – Our New CFO Dr. Dietmar Ley Hardy Mehl Ines Brückel CEO CCO / COO CFO – with Basler since 1993 – with Basler since 1999 - with Basler since 2025 Responsibility: Responsibility: Responsibility: ▪ R&D ▪ Global Sales & ▪ Finance Marketing ▪ Product Business
Slide 5: Market Environment Q1 2025
Executive Summary Market Environment Q1 2025 German Industry for Vision Components: Billings yoy +11 %, bookings yoy -5 % (VDMA)* ▪ Still low demand across all verticals, despite 3C battery inspection, semicon (advanced nodes) and logistics ▪ Inventory levels at customers have reached a normal level
Slide 6: Basler Situation Q1 2025
Executive Summary Basler Situation Q1 2025 Q1 2025 vs. Q1 2024: Bookings yoy +18 %, billings yoy +37 % ▪ Bookings growth and sizeable project wins in US and China back in Q4 2024 fueled high revenue increase of 37 % yoy ▪ Particularly in the USA and China, sales increased over- proportional. Europea
Slide 7: Team
Executive Summary Team FTEs e/o Q1/2024 FTEs e/o Q1/2025 22 % 22 % Operations Operations 38 % 41 % Sales & Sales & Marketing 917 Marketing 849 15 % 13 % Administration Administration 25 % 24 % R&D R&D R&D quota from sales: 17.0 % R&D quota from sales: 12.6 % Public | © Basler AG 7
Slide 8: Constant Innovation in Product Portfolio
Executive Summary Constant Innovation in Product Portfolio 2D Mainstream Systems 2D Performance Systems 3D Imaging TOF & Stereo Line Scan Systems Pylon SDK Public | © Basler AG 8
Slide 9: Product update Q1
Executive Summary Product update Q1 Basler presented in March at the LogiMAT in Stuttgart as a full-service provider for image processing solutions in the field of logistics automation with: ▪ Live demonstrations in the field of image-guided robotics ▪ 3D vision with the highest precision ▪ High-spe
Slide 10: Progress in Full-Range Provider Strategy
Executive Summary Progress in Full-Range Provider Strategy Software Computer Vision Full-Range Provider Processing Product Portfolio Lenses Cables Factory Medical & ITS Logistics Retail Agriculture Automation Life Science Cameras Markets/Applications Public | © Basler AG 10
Slide 11: Agenda
Agenda 01 Executive Summary 02 Financials 03 Share 04 Outlook 05 Q&A
Slide 12: Sales Distribution by Region
Financials Sales Distribution by Region Global Organization 1 Headquarters, Germany 2 U.S 3 Taiwan 1 4 Singapore 2 9 5 China 8 6 7 5 6 Korea 3 7 Japan 8 Italy 23% (PY: 15%) 4 Americas 9 France 47% Sales Offices TOTAL (PY: 50%) Asia 59.5 mill. €* 30% (PY: 35%) EMEA Public | © Basler AG 12 * Q1 2025
Slide 13: Bookings and Billings
Financials Bookings and Billings 58.9 59.5 52.1 49.5 48.5 47.0 43.5 44.0 43.7 41.0 Q1 Q2 Q3 Q4 Q1 2024 2025 Revenue mill. € Order Entry mill. € Public | © Basler AG 13
Slide 14: Gross Profit and Gross Profit-Margin
Financials Gross Profit and Gross Profit-Margin 48.1% 46.5% 48.1% 44.6% 43.6% 28.6 23.8 19.4 20.3 20.5 Q1 Q2 Q3 Q4 Q1 2024 2025 Gross Profit mill. € Gross-Profit Margin % Public | © Basler AG 14
Slide 15: EBT and EBT-Margin
Financials EBT and EBT-Margin 10.0% 2.6% -8.3% -5.9% -14.9% EBT mill. € EBT % 6.0 1.3 -2.6 -3.6 -7.0 Q1 Q2 Q3 Q4 Q1 2024 2025 Public | © Basler AG 15
Slide 16: P&L Q1/2025 vs Q1/2024 (in mill. €)
Financials P&L Q1/2025 vs Q1/2024 (in mill. €*) Q1/2025 Q1/2024 +/- Order Entry 52.1 44.0 +18 % Sales 59.5 43.5 +37 % Gross Profit 28.6 19.4 +47 % Gross Profit Margin 48.1 % 44.6 % +3.5 Pp. EBITDA 10.1 1.0 >+100 % EBIT 6.3 -3.3 >+100 % EBT 6.0 -3.6 >+100 % EBT-Margin 10.0 % -8.3 % +18.3 Pp. Net Inco
Slide 17: Free Cashflow FCF
Financials Free Cashflow FCF 8.6 OCF mill. € ICF mill. € FCF mill. € 4.9 Low OCF mainly due to 3.6 AR increase/high revenue growth 2.2 1.2 -1.1 -0.2 0.4 -2.0 -3.2 -2.5 -2.4 -2.1 * -3.7 * -5.0 Q1 Q2 Q3 Q4 Q1 2024 2025 * Includes M&A investments: Roboception and Basler France Public | © Basler AG 17
Slide 18: Liquidity and Cashflow Q1/2025 versus Q1/2024
Financials Liquidity and Cashflow Q1/2025 versus Q1/2024 (in mill. €) Cashflow Q1/2025 Q1/2024 +/- Cash b/o period 21.3 32.2 -34 % Cashflow from Operations 0.4 -1.1 >+100 % Cashflow from Investments -2.4 -2.1 +14 % Free Cashflow -2.2 -3.4 -37 % Cashflow from Financing -3.1 -3.1 0% Cash e/o period 16
Slide 19: Agenda
Agenda 01 Executive Summary 02 Financials 03 Share 04 Outlook 05 Q&A
Slide 20: Basler Shareholder Structure
Share Basler Shareholder Structure 6% Universal Investment 4% Norges Bank 53 % Norbert Basler Holding GmbH 3% Union Investment 4% Dr. Dietmar Ley (CEO) 2% Treasury Shares 28 % Free Float *as of 3/31/2025 Public | © Basler AG 20
Slide 21: Basler Share versus TecDax Q1 2025
Share Basler Share versus TecDax Q1 2025 160 140 120 100 80 60 40 20 0 Basler Share TDXP Index € 6,09 opening price on January 2, 2025 € 8.70 closing price on March 31, 2025 Public | © Basler AG 21
Slide 22: Agenda
Agenda 01 Executive Summary 02 Financials 03 Share 04 Outlook 05 Q&A
Slide 23: Impact of US import tariffs
Outlook Impact of US import tariffs We manage what we can influence: There are aspects we can’t control: ▪ The export volume exposure (Germany to US) ▪ Uncertainty on overall macroeconomic is appr. 30 mill. € but highly dependent on development product mix and demand. ▪ Exchange rates volatility ▪ W
Slide 24: 2025 Assumptions
Outlook 2025 Assumptions In line with trade associations, we expect the market to develop sideways on an annual base. However, after a good start into the year, we expect the market to cool down over the course of the year due to US trade tariffs and related uncertainties ▪ trade tariffs will impact
Slide 25: Forecast 2025
Outlook Forecast 2025 Under these assumptions we confirm our guidance for 2025: Revenue: 186 - 198 mill. € EBT-Margin: 0 % - 5 % Public | © Basler AG 25
Slide 26: Financial Mid-term Plan
Outlook Financial Mid-term Plan ~15 % 12 % CAGR EBT Margin Assumptions: 2028 2027 ▪ Computer vision market will grow again – mid to € 275 mill. 70 % high single digit long-term CAGR expected Revenue CCR* ▪ Successful execution of Basler’s strategy to address a bigger market ▪ Market recovery begins
Slide 27: Agenda
Agenda 01 Executive Summary 02 Financials 03 Share 04 Outlook 05 Q&A
Slide 28: Questions & Answers
Questions & Answers Hardy Mehl Ines Brückel Phone +49 4102 463 0 Hardy.mehl@baslerweb.com Public | © Basler AG 28