Basler AG Reports Preliminary Nine-Month Figures

Basler AG has disclosed its preliminary financial results for the first nine months of 2024, highlighting a challenging period due to a lack of market recovery. The company's sales reached EUR 136.8 million, a 13% decline from the previous year. Incoming orders increased by 4% to EUR 133.5 million. EBITDA significantly improved to EUR 9.0 million, compared to EUR 3.3 million last year. Despite this, the pre-tax earnings resulted in a loss of EUR 4.9 million, showing improvement from the previous year's EUR 16.1 million loss.

Free cash flow turned positive at EUR 1.5 million, contrasting with a negative EUR 11.1 million in the preceding year. The company adjusted its 2024 forecast, with expected sales now between EUR 178 to 184 million, down from an earlier range of EUR 190 to 200 million. Basler aims to lower its break-even point to below EUR 180 million in 2025. Management changes include the departure of Alexander Temme, with Hardy Mehl assuming the CCO role.