Basler Ag · XETR:BSL
Basler — H1 2020 Earnings Presentation
23 slides from Basler's earnings presentation, Aug 6, 2020
Slide 1: 1st HY Report 2020
1st HY Report 2020 August 6th, 2020 Hardy Mehl | CFO/COO Public | © Basler AG
Slide 2: Agenda
Agenda 1. Executive Summary 2. Financials 3. Share 4. Outlook Public | © Basler AG 2
Slide 3: Executive Summary: Covid-19 Impact
Executive Summary Covid-19 Impact Highest priority on employees’ health has been successful. Still no infection within the Basler team as of today. The Basler team did a great job and is highly motivated. Organization has been able to continue all operations and successfully serviced the custome
Slide 4: Executive Summary: Highlights 1st HY 2020 (1/3)
Executive Summary Highlights 1st HY 2020 (1/3) Market Environment German industry for vision components billings -5% and bookings -8%* Automotive industry and general machinery highly affected by Covid-19 Good business for capex goods in semicon/electronics Continuing growth in medical and l
Slide 5: Executive Summary: Highlights 1st HY 2020 (2/3)
Executive Summary Highlights 1st HY 2020 (2/3) New Product Introductions & Innovations Start of series production of ace 2 Basic and Pro New pylon SDK release 6.1 Upgrading of the MED ace cameras with dust protection Start of series production of boost camera/ bundle with framegrabber Intr
Slide 6: Executive Summary: Highlights 1st HY 2020 (3/3)
Executive Summary Highlights 1st HY 2020 (3/3) 36 % Sales & Marketing 3 FTEs less since Dec. 25 % Production 31, 2019 803* 15 % Administration 24 % R&D *fulltime equivalent jobs in average for the fiscal year (FTE) Public | © Basler AG 6
Slide 7: Agenda
Agenda 1. Executive Summary 2. Financials 3. Share 4. Outlook Public | © Basler AG 7
Slide 8: Development of Bookings and Billings
Financials Development of Bookings and Billings 53 Revenue mill. € Order Entry mill. € 45 46 44 44 45 42 42 42 41 38 40 39 39 39 39 34 35 34 33 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2018 2019 2020 Public | © Basler AG 8
Slide 9: 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 € 88.9 million 5 Silicon Software 4 6 Basler China 7 Korea 17 % 29 % 54 % 8 Japan Americas EMEA Asia Public | © Basler AG 9
Slide 10: Development of Gross Profit and Margin
Financials Development of Gross Profit and Margin 53.5% 52.6% 52.6% Gross Margin % 51.2% Gross Profit mill. € 50.1%* 48.8%* 24.2 23.0 20.7 21.2 20.4 19.7 *extraordinary effects Q1 Q2 Q3 Q4 Q1 Q2 due to China M&A 2019 2020 Public | © Basler AG 10
Slide 11: Development of EBT and EBT-Margin
Financials Development of EBT and EBT-Margin 14.3% 14.4% 14.6% EBT % EBT mill. € 9.7% 9.8% 7.9% 6.3 6.5 5.9 4.1 3.8 3.1 Q1 Q2 Q3 Q4 Q1 Q2 2019 2020 Public | © Basler AG 11
Slide 12: P&L KPIs
Financials P&L KPIs (mill. €) 1st HY/2020 1st HY/2019 +/- Order Entry 92.3 84.2 +10% Sales 88.9 81.7 +9% Gross Profit 53.1% 49.4% +3.7 Pp. EBITDA 19.8 13.7 +45% EBIT 13.2 7.5 +76% EBT 12.8 7.2 +78% Net Income 9.6 4.8 +100% EPS* 0.96 0.49 +96% *All numbers other than EPS in € mill., EPS in € Public |
Slide 13: Development Free Cashflow
Financials Development Free Cashflow 13.4 10.8 FCF mill. € 8.1 6.7 5.0 OCF mill. € 3.7 1.9 2.0 -0.9 -1.9 ICF mill. € Q1 Q2 Q3 Q4 Q1 Q2 -6.2 -3.9 -10.4 -4.8 -5.8 -5.3 -9.7* -18.5 * * extraordinary M&A payments 2019 2020 (MVLZ, China) Public | © Basler AG 13
Slide 14: Cashflow & Liquidity
Financials Cashflow & Liquidity (in mill. €) 1st HY/2020 1st HY/2019 Cash, b.o. period 35.2 31.8 Cashflow from Operations 15.4 7.3 June 30th, Dec. 31st, Cashflow from 2020 2019 Investments -13.6 -23.8 Liabilities Free Cashflow 1.8 -16.5 to banks -24.9 -19.5 Cashflow from Cash & Cash Financing 1.0 15
Slide 15: Agenda
Agenda 1. Executive Summary 2. Financials 3. Share 4. Outlook Public | © Basler AG 15
Slide 16: Basler Share Performance
Share Basler Share Performance - Basler Share - TDXP Index Number of shares: 120 10.5 million, Prime Standard 110 Market cap e.o. June 2020: € 582.3 million 100 90 BASLER Xetra TecDax 80 70 60 Public | © Basler AG 16
Slide 17: Dividend for 2019
Share Dividend for 2019 Lower payout ratio for 2019 due to high risks and uncertainties of Covid-19 crisis 0.67 30% 0.53 28% 28% 20% 25% Payout ratio from EAT 0.25 0.26 0.23 0.19 0.16 0.10 Dividend per share (adjusted to 10.5 mill. shares) 2012 2013 2014 2015 2016 2017 2018 2019 Public | © Basler AG
Slide 18: Agenda
Agenda 1. Executive Summary 2. Financials 3. Share 4. Outlook Public | © Basler AG 18
Slide 19: Outlook: Market Environment
Outlook Market Environment Overall, we experienced a strong demand in the first half of 2020. However, the potential second row effects of Covid-19 for our industry are uncertain and the visibility is low. For the second half of 2020, we expect: demand from semicon/electronics to decline sharply d
Slide 20: Basler Guidance 2020
Outlook Basler Guidance 2020 Based on the positive 1st HY results and with many uncertainties in front of us, our annual guidance for 2020 is: Revenues between 155 - 165 million Euro EBT-Margin between 8 - 10% Public | © Basler AG 20
Slide 21: 2023 Outlook: Financial Mid-term Plan
2023 Outlook Financial Mid-term Plan 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 21
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
Slide 23: Questions & Answers
Questions & Answers Verena Fehling Phone +49 4102 463 101 Verena.Fehling@baslerweb.com Public | © Basler AG 23