Basler Ag · XETR:BSL

Basler — FY2015 Earnings Presentation

28 slides from Basler's earnings presentation, Mar 23, 2016

  1. Slide 1: Final Results 2015

    Final Results 2015 March 23rd, 2016 Dietmar Ley (CEO) Public | © Basler AG

  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  Review  Financials  Share  Outlook Public | © Basler AG 22.03.2016 3

  4. Slide 4: Review 2015: Highlights 2015 (1/2)

    Review 2015 Highlights 2015 (1/2)  Significant tailwind in the first half of the year due to strong project business driven by Asian electronic production  Gained market share in the camera industry: Revenue growth of ~15% versus ~9% market growth (source: VDMA)  Sustainable organizational growth

  5. Slide 5: Review 2015: Highlights 2015 (2/2)

    Review 2015 Highlights 2015 (2/2)  Successfully started the mass production of our entry level camera series pulse and dart  12Mpixel beat product line entered full production  Expansion of ace product line with various CMOS sensors  USB3 product further ramped-up  Increasing demand for recentl

  6. Slide 6: Camera Units sold [KPCS]

    Review 2015 Camera Units sold [KPCS] Average annual growth 25% 204 166 121 90 69 49 24 27 24 11 16 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Public | © Basler AG 6

  7. Slide 7: Camera Business [K€]

    Review 2015 Camera Business [K€] 84 Average annual growth 14 % Average market growth 8 - 10 % 73 60 52 46 41 28 30 23 23 16 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Public | © Basler AG 7

  8. Slide 8: Agenda

    Agenda  Review  Financials  Share  Outlook Public | © Basler AG 22.03.2016 8

  9. Slide 9: Revenue & Order Entry

    Revenue & Order Entry Last 8 Quarters Revenue mill. € Order Entry mill. € 22 22 22 22 22 22 22 21 21 21 20 20 19 19 18 17 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2014 2015 Public | © Basler AG 9

  10. Slide 10: Gross Profit (IFRS)

    Gross Profit (IFRS) Development of IFRS Gross Profit (incl. R&D depreciation) Gross profit mill. € Gross profit % 51.8% 52.3% 53.5% 50.3% 50.9% 49.0% 47.6% 49.1% 47.8% 44.6% 11.4 11.0 10.9 10.8 9.9 10.4 8.7 8.5 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2014 2015 Public | © Basler AG 10

  11. Slide 11: Earning before tax

    Earning before tax Last 8 Quarters 18.4% 18.2% EBT mill. € EBT % 14.3% 13.5% 10.8% 10.5% 7.0% 4.0 3.9 3.0 3.2 2.3 1.9 3.2% 1.3 0.6 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2014 2015 Public | © Basler AG 11

  12. Slide 12: Free Cash Flow

    Free Cash Flow Last 8 Quarters [mill. €] 3.4 3.0 3.1 2.3 1.9 -0.2 -1.3 -1.2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2014 2015 Public | © Basler AG 12

  13. Slide 13: Profit & Loss KPIs

    Profit & Loss KPIs 2015 vs. 2014 2014 2015 +/- Order Entry 82.7 83.0 0% Sales 79.2 85.4 +8% Gross Profit 41.0 40.7 -1% EBIT 12.5 10.0 -20% EBT 11.1 9.1 -18% Net Income 8.2 6.2 -24% EPS* 2.54 1.94 -24% *All numbers other than EPS in € mill., EPS in € Public | © Basler AG 22.03.2016 13

  14. Slide 14: Regional Revenue Breakdown

    Regional Revenue Breakdown Revenue Split by Region 20% 43% 37% *as of December 31, 2015 Public | © Basler AG 22.03.2016 14

  15. Slide 15: Cash Flow & Liquidity

    Cash Flow & Liquidity 2015 vs. 2014 2014 2015 +/- Cash, b.o. period 9.7 12.8 +32% Cashflow from Operations 16.0 12.9 -19% Cashflow from Investments -8.6 -9.3 +8% Free Cashflow 7.4 3.6 -51% Cashflow from Financing -4.2 -2.3 -45% Cash, e.o. period 12.9 14.1 +9% *All numbers in € mill.

  16. Slide 16: Net Cash

    Net Cash Net Cash e/o 2015 vs. e/o 2014 Dec. Dec. +/- 31st, 31st, 2014 2015 Liabilities to banks -8.2 -6.8 -17% Cash & Cash equivalents 12.8 14.0 +9% Net Cash 4.6 7.2 +57% *Numbers in € mill. Public | © Basler AG 22.03.2016 16

  17. Slide 17: Balance Sheet Dec 31st, 2015 (Assets)

    Balance Sheet Dec 31st, 2015 Assets 2014 2015 +/- Intangible assets 17.4 20.9 +20% Tangible assets 5.3 6.2 +17% Buildings and land in finance lease 16.0 15.3 -4% Deferred tax claims 0.1 0.1 0% Long-term assets 38.8 42.5 +10% Inventories 12.5 10.8 -14% Receivables from deliveries and 7.0 7.8 +11% ser

  18. Slide 18: Balance Sheet Dec 31st, 2015 (Liabilities)

    Balance Sheet Dec 31st, 2015 Liabilities 2014 2015 +/- Equity 37.3 45.2 +21% Long-term interest bearing bank 7.4 6.8 -8% liabilites Liabilities from finance lease 11.5 10.1 -12% Other long-term liabilities 3.4 4.8 +41% Long-term liabilities 22.3 21.7 -3% Current financial debt 2.3 1.6 -30% Short-ter

  19. Slide 19: Personnel & Hires

    Personnel & Hires New hires and distribution by function PRODUCTION 24% 63 new fulltime equivalent jobs in 2015 SALES & MARKETING 438* 31% ADMINISTRATION R&D 20% 25% *average 2015: 438 fulltime equivalent jobs Public | © Basler AG 22.03.2016 19

  20. Slide 20: Agenda

    Agenda  Review  Financials  Share  Outlook Public | © Basler AG 22.03.2016 20

  21. Slide 21: Basler Share 2015: Dividend

    Basler Share 2015 Dividend  IPO volume: 3.5 million shares  Market cap e.o. Q4-2015: € 140.8 million  Dividend Policy Base-Component of € 0.20 per share Optional Performance-Component depending on earnings & free cash flow -> target 30% from EAT Dividend-payments in the past: Proposal 2015 = € 0.

  22. Slide 22: Basler Share versus TecDax

    Basler Share 2015 Basler Share versus TecDax 160 150 140 130 BSL 120 TecDax 110 100 90 Public | © Basler AG 22.03.2016 22

  23. Slide 23: Shareholder Structure

    Basler Share Shareholder Structure *as of December, 2015 Public | © Basler AG 05.08.2015 | Verena Fehling 23

  24. Slide 24: Agenda

    Agenda  Review  Financials  Share  Outlook Public | © Basler AG 22.03.2016 24

  25. Slide 25: Outlook: Macro Environment

    Outlook Macro Environment  In general we expect a similar macro-economic environment compared to 2015  Weaker Regions  Eastern Europe  North America (Capex market)  Stronger Regions  China  Japan  No major currency shifts (Japanese Yen, USD) Public | © Basler AG 22.03.2016 25

  26. Slide 26: Outlook: Critical Success Factors

    Outlook Critical Success Factors  Further expand market leadership in Gigabit-Ethernet camera market  Leverage early-mover advantage with regard to USB3 Vision interface  Profit from CCD to CMOS sensor trend  Successfully introduce new products: dart, pulse, new Basler ace models and Basler lens

  27. Slide 27: 2016 Guidance

    Outlook 2016 Guidance  Sales € 90 – 92 mill.  EBT-Margin 9 – 10 %  Positive free cash flow Public | © Basler AG 22.03.2016 27

  28. Slide 28: Questions & Answers

    Questions & Answers Verena.Fehling@baslerweb.com Phone +49 4102 463 101

Basler — FY2015 Earnings Presentation on 6ix