Manufacturer of digital cameras Basler reports financial figures for the first half-year of 2012

Basler's orders in the core business with digital cameras reached a new record value in the first half-year of 2012

Basler AG presented the final figures for the first half-year of 2012.

The most important outcome of the reporting period are new record figures in incoming orders, sales, and result in their core business with digital cameras. Group sales and earnings in the first half-year were below 2011 results due to the anticipated significant decrease in demand in the smaller Solutions segment. Their expectations were, however, excelled by the achievements in the camera business that was performing above budget. Due to the continued and despite of all economic risk stable growth in the Components segment the proportion of the camera business in the group's sales has increased more quickly than planned to more than 90%. Therefore, the transformation of Basler AG towards a pure-play camera manufacturer proceeds at a faster pace than originally envisaged.

The group's key figures for the reporting period were still below the strong figures for the previous year. This is due to the ongoing weak demand for new industrial goods in the LCD industry that is catered to by the smaller Solutions business segment. Incoming orders for the group in the first half-year of 2012 decreased slightly compared to the previous year by 5 %, reaching € 28.7 million (previous year: € 30.2 million), while orders in the core business with digital cameras reached a new record value. Sales amounted to € 25.2 million in the reporting period which is 10 % below the previous year's figure of € 28.1 million. Sales in their Components segment reached a new record value while revenues in the Solutions segment declined significantly. Earnings before taxes (EBT) added up to € 2.2 million in the first half-year of 2012 (previous year: € 3.3 million).

The pre-tax margin amounted to 9 % (previous year: 12 %) and was above their forecast corridor. Earnings before interest and taxes (EBIT) amounted to € 2.6 million (previous year: € 4.0 million). The operating cash flow in the reporting period was € 3.3 million (previous year: € 4.5 million). Cash and cash equivalents summed up to € 3.1 million at the end of the reporting period (previous year: € 6.8 million).

Based on better than planned results for the first half-year and being confident to reach their goals for the second half-year, we increased their forecast for sales and profit for 2012 on July 23. They now expect the revenues within a corridor of € 52 to 54 million (previously € 50 to 54 million) and a pre-tax (EBT) margin of 8 to 9 % (previously 6 to 8 %).