Basler AG Reports First Quarter 2024 Results

Basler AG, a leader in computer vision technology, reported its financial outcomes for the first three months of 2024. The company observed a decrease in incoming orders and sales, with incoming orders falling by 19% to Euro 44.0 million from Euro 54.1 million in the previous year. Sales also saw a decline of 23%, reporting Euro 43.5 million against the previous year's Euro 56.3 million.

The company's EBITDA decreased significantly by 72% to Euro 1.0 million, highlighting the current market challenges. The net earnings before taxes (EBT) stood at Euro -3.6 million, worsening from Euro -1.6 million the previous year, while net earnings after taxes (EAT) amounted to Euro -3.9 million, deeper into the negative compared to Euro -2.2 million in the preceding year.

Despite challenging market conditions, including weak demand in the consumer electronics, logistics, and laboratory automation sectors particularly in Asia and North America, Basler AG's management reconfirms the 2024 forecast. The company anticipates sales between Euro 190 million and Euro 210 million and aims for a pre-tax profit margin of 0-5%. Additionally, Basler AG completed a restructuring program aimed at reducing the break-even point to below Euro 200 million in sales.