Basler AG Continues Growth in the First Half-Year of 2011

As expected, the first six months of the fiscal year were successful for Basler AG. The company has continued growth in sales and realized double-digit earnings before taxes.

The group's incoming orders increased to € 30.2 million (previous year: € 29.6 million, +2 %). The group's sales amounted to € 28.1 million in the reporting period, exceeding the previous year's value of € 22.6 million by 24 %. The earnings before taxes (EBT) summed up to € 3.3 million (previous year: € 2.2 million, +50 %). The pre-tax return added up to 11.7 % (previous year: 9.7 %). The earnings before interest and taxes (EBIT) amounted to € 4.0 million (previous year: € 3.0 million, +33 %). The return before taxes and interest calculated to 14.2 % (previous year: 13.3 %).

The operating cash flow increased in the reporting period to € 4.5 million (previous year: € 2.8 million; +61 %). The free cash flow (operating cash flow less cash flow from investment) amounting to € 1.1 million was positive again (previous year: € -0.5 million). At the end of the reporting period, liquid assets amounted to € 6.8 million and were thus by 28 % above the figure of the comparison period in the previous year (€ 5.3 million).

"We will show solid profitable growth also in fiscal year 2011. This will be driven by our core business with digital cameras that will increase in the double-digit range" explains Dr. Dietmar Ley (CEO).

Basler therefore maintains the forecast for fiscal year 2011 unchanged. The group's turnover will accordingly be within a corridor between € 54 and 58 million (previous year: € 51.0 million). The earnings before taxes will be at least € 5.4 million (previous year: € 5.0 million).