Basler Ag · XETR:BSL
Basler — H1 2021 Earnings Presentation
23 slides from Basler's earnings presentation, Aug 5, 2021
Slide 1: HY1 Report, 2021
HY1 Report, 2021 August 5th, 2021 Hardy Mehl | CFO/COO Public | © Basler AG
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
Slide 3: Agenda
Agenda 1. Executive Summary 2. Financials 3. Share 4. Outlook Public | © Basler AG 3
Slide 4: Executive Summary: Market Environment and Basler Performance
Executive Summary Market Environment and Basler Performance Market Environment German industry for vision components up 17 % in billings and 29 % in bookings* Still high growth in semicon, electronics and logistics applications Strongest momentum in Asia, followed by Americas and EMEA Global
Slide 5: Executive Summary: Product Highlights, Innovations & Cooperations
Executive Summary Product Highlights, Innovations & Cooperations Latest Product Introductions & Innovations Launch of six new high-resolution models of the boost camera series with CoaXPress 2.0 (CXP-12) New cooperation activities with Amazon Web Services for embedded vision systems with cloud c
Slide 6: Executive Summary: Organization
Executive Summary Organization 34 % Sales & Marketing 28 FTEs more since Dec. 31, 2020 25 % Production New org architecture since April 1st to better support our strategic journey to a full range provider 841* Hiring program for ~150 employees worldwide initiated to further scale the company 1
Slide 7: Executive Summary: Misc. Highlights
Executive Summary Misc. Highlights - We are on the move! Winner of “Axia Best Managed Companies Award“ for excellent Certification “audit corporate management worklifeandfamily” World Wide S/4 Hana implementation HQ Building Expansion Public | © Basler AG 7
Slide 8: From Camera Manufacturer to Full Range Provider
Executive Summary From Camera Manufacturer to Full Range Provider Computer Vision Processing/Embedded Full Range Product Portfolio Provider Lenses Cables Cameras Factory Medical & ITS Logistics Retail Automation Life Science Markets/Applications Public | © Basler AG 8
Slide 9: Agenda
Agenda 1. Executive Summary 2. Financials 3. Share 4. Outlook Public | © Basler AG 9
Slide 10: Development of Bookings and Billings
Financials Development of Bookings and Billings Revenue mill. € Very strong order momentum! Order Entry mill. € Q2: Bookings + 118%; HY1 Bookings +65% 85 67 61 53 53 55 44 45 39 40 41 36 Q1 Q2 Q3 Q4 Q1 2021 Q2 2020 Public | © Basler AG 10
Slide 11: Revenue Split by Region
Financials Revenue Split by Region Basler AG Headquarters 1 Ahrensburg, Germany 1 5 Basler Subsidiaries 2 7 8 2 Exton, U.S. 6 3 Taiwan 3 4 Singapur Total € 115.2 mill. 5 Silicon Software 4 6 Basler China 7 Korea 15 % 28 % 57 % 8 Japan Americas EMEA Asia Public | © Basler AG 11
Slide 12: Development of Gross Profit and Margin
Financials Development of Gross Profit and Margin 54.6% 54.3% 53.5% 52.6% 51.4% 50.4% 32.9 29.8 24.2 23.0 20.7 20.8 Gross Profit mill. € Gross Margin % Q1 Q2 Q3 Q4 Q1 Q2 2020 2021 Public | © Basler AG 12
Slide 13: Development of EBT and EBT-Margin
Financials Development of EBT and EBT-Margin 18.1% 17.8% 14.4% 14.6% 13.2% 10.8 9.9 5.6% 6.3 6.6 5.3 2.3 EBT mill. € EBT % Q1 Q2 Q3 Q4 Q1 Q2 2020 2021 Public | © Basler AG 13
Slide 14: P&L KPIs
Financials P&L KPIs (mill. €) 6 Months 2021 6 Months 2020 +/- Order Entry 152.4 92.3 +65% Sales 115.2 88.9 +30% Gross Profit 54.4% 53.1% +1.3 Pp. EBITDA 29.7 19.8 +50% EBIT 21.0 13.2 +59% EBT 20.8 12.8 +63% EBT Margin 18.1% 14.4% +3.7 Pp. Net Income 15.7 9.6 +64% EPS* 1.57 0.96 +64% *All numbers oth
Slide 15: Development Free Cashflow
Financials Development Free Cashflow 13.3 13.1 12.3 9.7 9.6 6.9 5.3 FCF mill. € 3.7 4.7 2.0 1.0 OCF mill. € -1.9 Q1 Q2 Q3 Q4 Q1 Q2 ICF mill. € -3.9 -3.6 -3.5 -4.3 -5.4 -9.7 2020 2021 Public | © Basler AG 15
Slide 16: Cashflow & Liquidity
Financials Cashflow & Liquidity (in mill. €) 6 Months 2021 6 Months 2020 Cash, b.o. period 47.9 35.2 Cash flow from Operations 19.7 15.4 June 30th, Dec. 31st, Cash flow from 2021 2020 Investments -9.1 -13.6 Liabilities Free Cash flow 10.6 1.8 to banks -23.2 -25.2 Cash flow from -12.8 1.0 Cash & Cash
Slide 17: Agenda
Agenda 1. Executive Summary 2. Financials 3. Share 4. Outlook Public | © Basler AG 17
Slide 18: Basler Share Performance
Share Basler Share Performance closing price Number of shares: 180 opening price € 104.40 10.5 mill., Prime Standard 160 € 72.00 140 Market cap e.o. June 2021: 120 € 1.042 billion 100 Treasury shares: 80 5% threshold of voting 60 rights reached on July 19th, 40 2021 20 Basler Aktie TDXP Index 0 Publ
Slide 19: Agenda
Agenda 1. Executive Summary 2. Financials 3. Share 4. Outlook Public | © Basler AG 19
Slide 20: Outlook: Market Environment
Outlook Market Environment Strong order momentum towards end of HY1 and extended order horizons from customers due to shortages in supply For the coming months, we expect order entries from semicon/electronics to cool slightly down staying on a relatively high level due to long lead times busine
Slide 21: Basler Guidance 2021
Outlook Basler Guidance 2021 Considering the sound HY1-results, the strong order momentum, but also the ongoing supply shortages, we keep our annual guidance for now: Guidance for 2021: Revenues € 205 - 225 mill. EBT-Margin 13 % – 15.5 % Public | © Basler AG 21
Slide 22: 2023 Outlook: Financial Mid-term Plan
2023 Outlook Financial Mid-term Plan – Update e/o 2021 15% 12% CAGR EBT Margin 2023 €250 mill. 70% Revenue CCR* * Cash Conversation Rate FCF/EAT (excl. M&A transactions) ** Mid-term goals, 2023 Public | © Basler AG 22
Slide 23: Questions & Answers
Questions & Answers Verena Fehling Phone +49 4102 463 101 Verena.Fehling@baslerweb.com Public | © Basler AG 23