Basler Reports Best Results in Company's History

In 2011, Basler AG achieved the best result in the company's history. „Our new strategy alignment agreed upon three years ago with focus on the camera business continues to prove successful", said Dr. Dietmar Ley, Chairman of the Management Board. Against this background, Basler AG will propose to this year's general meeting the distribution of a dividend of 30 cent per share.

• Increase in sales by 8 % to € 55.1 million (previous year: € 51.0 million)
• Earnings before taxes amounting to € 5.6 million (previous year: € 5.0 million)
• Increase of cash flow from operational activity to € 13.7 million (previous year: € 11.8 million)
• Preliminary sales expectations for 2012 between € 50 million and € 54 million and a pre-tax return of 6-8%

Basler AG is presenting its audited annual report for 2011 today. The group's turnover increased in fiscal year 2011 by 8 % to € 55.1 million (previous year: € 51.0 million). The gross profit margin increased to 44.3 % after 43.5 % in the previous year. The earnings before taxes increased to € 5.6 million (previous year: € 5.0 million). The pre-tax return amounted to 10.2 % (previous year: 9.8 %). With these results the company's forecast communicated to the capital market has been achieved.

The cash flow from operational activity amounted to € 13.7 million (previous year: € 11.8 million, +16%). The free cash flow calculated as the sum of cash flows from operational activity and investment reached a value of € 6.9 million (previous year: € 5.7 million, +21%). The positive development of the cash flow is due to decreased average delivery times and shorter collection periods for receivables as a result of an intense working capital management.

In 2011, Basler AG achieved the best result in the company's history. „Our new strategy alignment agreed upon three years ago with focus on the camera business continues to prove successful", said Dr. Dietmar Ley, Chairman of the Management Board. Against this background, Basler AG will propose to this year's general meeting the distribution of a dividend of 30 cent per share.

Due to the currently existing cyclical risks the Management Board opted for a cautious forecast. Accordingly, the Basler group expects in fiscal year 2012 approximately stable to slight declining sales revenues within a corridor between € 50.0 million and € 54.0 million. Here, sales in the core business with digital cameras (Components business segment) continue to increase compared to the previous year, whereas sales revenues of the Solutions business segment fall below the level reached in 2011 due to the current weak demand from the LCD industry. Because of the sustainably attractive growth opportunities in the camera business, investments in the Components business segment will continue with unabated intensity. Depending on the sales trend the company expects on the earnings side a solid pre-tax return between 6 % and 8 %.

„In parallel to the expected improvement of the economic situation in the course of the year, we assume sales and pre-tax results in the second half-year to be above the figures of the first six months and then to show again the level of return reached in 2011", said the Chairman of the Management Board, Dr. Dietmar Ley, commenting on the forecast.