Basler Ag · XETR:BSL

Basler — FY2016 Earnings Presentation

28 slides from Basler's earnings presentation, Mar 31, 2017

  1. Slide 1: Final Results 2016

    Final Results 2016 March 31st, 2017 Hardy Mehl (CFO/COO) 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 31.03.2017 3

  4. Slide 4: Review 2016: Highlights 2016 (1/2)

    Review 2016 Highlights 2016 (1/2)  Significant tailwind in the first half of the year and Q4 due to strong project business driven by Asian electronic production  Gained market share in the camera industry: Revenue growth of ~14% versus ~4% market growth (source: VDMA)  Organizational growth: 21

  5. Slide 5: Review 2016: Highlights 2016 (2/2)

    Review 2016 Highlights 2016 (2/2)  Expansion of ace product line with various CMOS sensors  High demand for interface technologies GigE, USB as well as CMOS-sensor based cameras  Further penetration of medical applications  Launch of first 3D camera based on so-called time-of-flight (TOF) techno

  6. Slide 6: Camera Business [mill. €]

    Review 2016 Camera Business [mill. €] Average annual growth 15 % Average market growth 8 - 10 % 97 84 73 60 52 46 41 28 30 23 23 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Public | © Basler AG 6

  7. Slide 7: Camera Units sold [KPCS]

    Review 2016 Camera Units sold [KPCS] Average annual growth 32% 259 204 166 121 90 69 49 24 27 24 16 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Public | © Basler AG 7

  8. Slide 8: Agenda

    Agenda  Review  Financials  Share  Outlook Public | © Basler AG 31.03.2017 8

  9. Slide 9: Revenue & Order Entry

    Revenue & Order Entry Quarterly Booking and Billings Revenue mill. € Order Entry mill. € 29 26 27 26 25 23 24 22 22 22 22 21 21 20 21 19 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2016 Public | © Basler AG 9

  10. Slide 10: Gross Profit & Gross Margin

    Gross Profit & Gross Margin Development of Gross Profit and Gross Margin (HGB and IFRS) Gross Profit/Margin IFRS incl. Gross Profit/ Margin HGB mill. €/% Depreciation mill. €/% 52,5% 53,1% 52,5% 52,0% 51,9% 51,8% 50,7% 48,4% 49,1% 49,8% 48,9% 48,9% 47,5% 48,1% 47,4% 44,3% 13,013,7 13,1 11,9 12,3 12,

  11. Slide 11: Earnings before Tax

    Earnings before Tax EBT Development by Quarter EBT mill. € EBT % 14,5% 13,9% 13,5% 11,9% 10,5% 11,1% 9,8% 3,1% 3,2 3,3 3,0 3,1 2,8 2,3 2,2 0,6 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2016 Public | © Basler AG 11

  12. Slide 12: Free Cash Flow

    Free Cash Flow Free Cash Flow (mill. €) Development by Quarter FCF CFO CFI 5,7 5,9 5,0 5,1 3,9 3,8 3,4 3,0 3,1 2,1 1,6 1,1 0,8 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 -1,2 -1,2 -1,3 -2,0 -2,0 -2,0 -1,8 -1,7 -2,3 -2,4 -2,9 2015 2016 Public | © Basler AG 12

  13. Slide 13: Profit & Loss KPIs

    Profit & Loss KPIs 2016 vs. 2015 2015 2016 +/- Order Entry 83.0 105.4 +27% Sales 85.4 97.5 +14% Gross Profit 40.7 47.5 +17% EBITDA 16.0 18.8 +17% EBIT 10.0 12.2 +22% EBT 9.1 11.4 +25% Net Income 6.2 7.9 +27% EPS* 1.94 2.45 +26% *All numbers other than EPS in € mill., EPS in € Public | © Basler AG 31

  14. Slide 14: Regional Revenue Breakdown

    Regional Revenue Breakdown Revenue Split by Region 18% 37% 45% *as of December 31, 2016 Public | © Basler AG 31.03.2017 14

  15. Slide 15: Cash Flow & Liquidity

    Cash Flow & Liquidity 2016 vs. 2015 2015 2016 +/- Cash, b.o. period 12.8 14.0 +9% Cashflow from Operations 12.9 16.1 +25% Cashflow from Investments -9.3 -8.0 -14% Free Cashflow 3.6 8.1 +125% Cashflow from Financing -2.3 -2.7 +17% Cash, e.o. period 14.1 19.4 +38% *All numbers in € mill.

  16. Slide 16: Net Cash

    Net Cash Net Cash e/o 2016 vs. e/o 2015 Dec. Dec. +/- 31st, 31st, 2015 2016 Liabilities to banks -7.4 -10.6 +43% Cash & Cash equivalents 14.0 19.4 +39% Net Cash 6.6 8.8 +33% Basler bought 26,116 additional treasury shares in 2016. Total amount at Dec. 31, 2016: 284,753 own shares corresponding to al

  17. Slide 17: Balance Sheet Dec 31st, 2016 (Assets)

    Balance Sheet Dec 31st, 2016 Assets 2015 2016 +/- Intangible assets 20.8 22.5 +8% Fixed assets 6.3 6.7 +6% Buildings and land in finance lease 15.3 14.6 -5% Deferred tax claims 0.1 0.1 0% Long-term assets 42.5 43.9 +3% Inventories 10.7 14.6 +36% Receivables from deliveries and 7.8 10.4 +33% service

  18. Slide 18: Balance Sheet Dec 31st, 2016 (Liabilities)

    Balance Sheet Dec 31st, 2016 Liabilities 2015 2016 +/- Equity 45.2 50.0 +11% Long-term liabilities to bank 6.8 9.8 +44% Liabilities from finance lease 10.1 8.6 -15% Other long-term liabilities 4.8 6.3 +31% Long-term liabilities 21.7 24.7 +14% Other financial liabilities 1.6 1.5 -6% Short-term accrua

  19. Slide 19: Personnel & Hires

    Personnel & Hires New Hires and Distribution by Function PRODUCTION 24% We hired 21 new employees in 2016 SALES & MARKETING 463* 30% ADMINISTRATION R&D 20% 26% *Dec. 31st, 2016: 463 fulltime equivalent jobs Public | © Basler AG 31.03.2017 19

  20. Slide 20: Agenda

    Agenda  Review  Financials  Share  Outlook Public | © Basler AG 31.03.2017 20

  21. Slide 21: Basler Share 2016

    Basler Share 2016 Basler Share versus TecDax 190,00 180,00 170,00 Basler 2016: +34% 160,00 150,00 140,00 Basler 130,00 TecDax 120,00 110,00 100,00 90,00 Public | © Basler AG 31.03.2017 21

  22. Slide 22: Basler Share 2016: Dividend

    Basler Share 2016 Dividend  Market cap Dec 31st, 2016: € 194.1 million  Dividend: Proposal 2016 = € 0.74 per share 2015 = € 0.58 per share 2014 = € 0.70 per share 2013 = € 0.47 per share 2012 = € 0.30 per share

  23. Slide 23: Basler Share: Shareholder Structure

    Basler Share Shareholder Structure *as of December, 2016 Public | © Basler AG 31.03.2017 23

  24. Slide 24: Agenda

    Agenda  Review  Financials  Share  Outlook Public | © Basler AG 31.03.2017 24

  25. Slide 25: Outlook: Macro Environment

    Outlook Macro Environment For 2017 we expect  a stronger market compared to last year with ~8-10% growth  all main regions to grow. South Korea as well as China to grow over-proportionally  strong Capex/demand for cameras from electronic and semiconductor industry in H1 2017  no major currency s

  26. Slide 26: Outlook: Critical Success Factors for 2017

    Outlook Critical Success Factors for 2017 We need to  further expand market leadership in GigE Vision and leverage early-mover advantage with regard to USB3 Vision interface  profit from CCD to CMOS sensor trend  leverage premium market access  deliver on peak demands in H1/2017 Public | © Basle

  27. Slide 27: Outlook: 2017 Guidance

    Outlook 2017 Guidance Based on the macro environment and a very strong order entry in Q1/2017 (>50 mill. €) we expect an exceptional year for Basler. Our guidance:  Revenues 120 - 130 mill. €  EBT-Margin 13 – 15 %  Strong positive Free Cashflow Public | © Basler AG 31.03.2017 27

  28. Slide 28: Questions & Answers

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

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