Interim / Quarterly Report • Nov 5, 2019
Interim / Quarterly Report
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| 01/01/ - | 01/01/ - | Changes to | 07/01/ - | 07/01/ - | Changes to | |
|---|---|---|---|---|---|---|
| in € m* | 09/30/2018 | 09/30/2019 | previous year | 09/30/2018 | 09/30/2019 | previous year |
| Sales revenues | 116.4 | 123.2 | 6 % | 33 | 41.4 | 25 % |
| Incoming orders | 112.2 | 122.7 | 9 % | 32.4 | 38.5 | 19 % |
| Gross results | 57.9 | 56.5 | -2 % | 15.6 | 19.5 | 25 % |
| Gross profit margin | 49.7 % | 45.9 % | -4 Pp. | 47.3 % | 47.1 % | 0 Pp. |
| Full costs for research and development |
14.2 | 17.7 | 25 % | 5.1 | 5.6 | 10 % |
| Research and development ratio |
12.2 % | 14.4 % | 2 Pp. | 15.5 % | 13.5 % | 2 Pp. |
| EBITDA | 31.0 | 23.1 | -25 % | 6.6 | 9.4 | 42 % |
| EBIT | 23.3 | 13.6 | -42 % | 4.0 | 6.1 | 53 % |
| EBT | 23.2 | 13.1 | -44 % | 4.0 | 5.9 | 48 % |
| Net income | 17.3 | 9.3 | -46 % | 2.7 | 4.5 | 67 % |
| Weighted average number of shares |
9,642,140 | 9,890,577 | 3 % | 9,668,337 | 10,007,757 | 4 % |
| Result per share (€) | 1.79 | 0.94 | -48 % | 0.28 | 0.45 | 60 % |
| Cash flow from operating activities |
22.9 | 14.0 | -39 % | 10.7 | 6.7 | -37 % |
| Cash flow from investing activities |
-26.7 | -28.6 | 7 % | -20.4 | -4.8 | -76 % |
| Free Cash flow | -3.8 | -14.6 | >-100 % | -9.7 | 1.9 | -120 % |
| in € m* | 12/31/2017 | 12/31/2018 | 09/30/19 | Changes to 12/31/2018 |
|---|---|---|---|---|
| Total assets | 117.7 | 139.0 | 176.2 | 27 % |
| Long-term assets | 45.9 | 63.5 | 92.3 | 45 % |
| Equity | 65.6 | 75.5 | 100.7 | 33 % |
| Liabilities | 52.1 | 63.5 | 75.5 | 19 % |
| Equity ratio | 55.7 % | 54.3 % | 57.2 % | 3 Pp. |
| Net cash | 25.0 | 8.0 | 11.0 | 38 % |
| Working Capital | 19.8 | 31.4 | 38.0 | 21 % |
| Number of employees for the financial (full time equivalents) |
504 | 610 | 810 | 33 % |
| Share price (XETRA) in € |
65.02 | 41.33 | 41.50 | 0 % |
| Number of shares in circulation |
9,633,408 | 9,617,157 | 10,007,757 | 4 % |
| Market capitalization | 626.4 | 397.5 | 415.3 | 4 % |
*unless otherwise stated
In a still very weak market environment, we closed the first nine months of 2019 along our planning. An ongoing low demand in the automotive and consumer electronics sectors, the trade conflict between China and the USA as well as uncertainties in European politics led to declining industrial goods markets and purchasing manager indexes. Consequently, the German image processing industry recorded a significant decrease in business in the first eight months. With a sales growth of accumulated 6 % Basler developed considerably better than the market. This growth was supported by the acquisition of Silicon Software GmbH and the takeover of the Chinese distribution business from MVLZ Sanbao Xingye. Although the integration processes of both companies are running successfully, they led to a significant surplus load within the organization.
Despite the weaker market conditions, we remain committed to our investment plans in order to continuously increase our competitiveness and sustainably gain market shares in existing markets as well as open up new application fields. Thus, in the past quarters, we continued to implement growth relevant measures in development, production, and sales without major restrictions, however, we adjusted the number of new hirings to the market situation. At a pre-tax return rate of approximately 11 %, the willingness to invest currently still leads to a slightly lower profitability than the medium-term target of an average pre-tax return rate of at least 12 %. We see the computer vision market's long-term growth to be foreseeably positive. Although it is affected by the currently weaker market phase in the short term, growth is not endangered. We significantly increased the company's technology expertise, the product portfolio and our direct market presence with the acquisitions of Mycable GmbH and Silicon Software GmbH as well as the takeover of the business of our Chinese distribution partner (MVLZ) on January 1, 2019, and a considerable increase of the number of employees in marketing, sales, and development. In the current financial year, we are particularly focused on the successful integration of over 250 new colleagues that we gained due to hirings and takeovers in the past 18 months.
Despite the difficult market environment, sales increased by 6 % and incoming orders by 9 % compared to the first nine months of 2018. The balanced ratio between incoming orders and sales indicates a stable business level for the fourth quarter.
At the end of August 2019, the VDMA (Verband Deutscher Maschinen- und Anlagenbau, German Engineering Federation) reported a sales decline of 12 % for the German manufacturers of image processing components. According to VDMA, incoming orders in the industry also decreased by 12 % in the same period. Thus, the Basler group's business developed considerably better than the market. Compared to the previous year, third quarter sales increased by 25 % and incoming orders by 19 %. In the third quarter, the pre-tax return rate increased again and amounted to 14 %.
In the past months, the portfolio of the successful ace camera series was extended by various models. These new models are based on high quality and modern CMOS image sensors of the Sony Pregius-line.
Moreover, the next generation of the ace camera was launched on the market. Initially, four models were launched. In the upcoming years, various new products will be developed based on this innovative hardware and firmware platform. They will be characterized by the latest image sensor technology, powerful features, higher image rates, reduced data quantities, and optimal image quality. Furthermore, the platform's architecture considerably supports shorter development cycles and further optimizations in the supply chain.
To further develop the business with very powerful cameras, another camera platform called Basler boost was developed and launched on the market. In addition to the camera, a frame grabber card that is fully harmonized with the camera was developed by Silicon Software. The Basler boost bundle addresses customers with highly sophisticated image processing applications and supports the new CoaXPress 2.0 (CXP-12) interface standard. It offers a unique price-performance-ratio and significantly reduces integration efforts for the customer.
In July 2019, Basler started the series production of further models of the Basler MED ace camera series, which was especially developed for the medical & life science area. Unique features address particular requirements of the investment goods markets for medical technology and life sciences. Moreover, Basler's DIN EN ISO 13485:2016 certification offers conformity to internationally accepted quality standards in the medical industry.
Furthermore, a second generation of 3D cameras was set in motion. The Basler blaze camera is an industrial 3D camera working on the basis of the time-of-flight-principle. At the end of the third quarter, first customer samples were shipped, the start of the series production is planned for the turn of the year.
In the new embedded vision technology sector, Basler expands its product range by 5 and 13 megapixel camera modules that are perfectly matched to NXP's i.MX8 processor family. In the future, embedded vision modules will particularly open up volume applications outside the factory automation pushing the application of image processing in cost sensitive markets. In August, first products based on this technology were launched on the market.
So far, the fiscal year 2019 has been modest for the Basler group according to expectations and along the forecast communicated to the capital market at the beginning of the year. Due to the development of incoming orders within the past months and feedback from customers, the management expects a stable business development with a weak seasonal upturn in the fourth quarter. Overall, the economic outlook is dominated by high uncertainty and the investment goods markets for semiconductors and electronics are significantly depressed. Even though the current macroeconomic conditions have rather dampening effects and the risks of a global recession are increasing, management is positive about the future in general. Major growth drivers such as automation, image processing in new application fields outside the factory as well as the networking of intelligent machines and products (Industry 4.0 / IOT) are intact. In view of the advance of the year and the subsequent improving visibility, the management narrows the forecast for the full financial year. According to this, based on currently available information, the group's sales will be within a corridor of Euro 160 – 164 million at a pre-tax return rate margin of 8 – 10 %.
INTERIM MANAGEMENT REPORT INCLUDING ESSENTIAL SUPPLEMENTARY DISCLOSURES OF THE ANNUAL FINANCIAL STATEMENT OF DECEMBER 31, 2018 ACCORDING TO IFRS
Compared to the same period of 2018, sales increased by 6 % to Euro 123.2 million (previous year: Euro 116.4 million). Incoming orders increased by 9 % to Euro 122.7 million (previous year: Euro 112.2 million). In a year-on-year comparison, incoming orders and sales considerably increased in the third quarter. Incoming orders climbed up by 19 % to Euro 38.5 million (previous year: Euro 32.4 million), and sales increased by 25 % to Euro 41.4 million (previous year: Euro 33.0 million).
The last seven quarters (in € million)
Sales Order entry
Keyfact
+6 % Sales revenues to previous year
Keyfact
+9 % Order entry to previous year
*as of September 30, 2019
Compared to the half year's figure, the gross margin of the first nine months slightly recovered at 45.9 % (previous year: 49.7 %). Overall, the margin of the first nine months is burdened by three effects: Due to low utilization, degressive effects were lower regarding fixed costs for material, production as well as R&D depreciations. Furthermore, there were one-time effects in the first quarter due to the takeover of stocks from the acquired distribution business in China. Additionally, due to the acquisition of the distribution business in China, the sales share of third party lowmargin products increased. In the area of camera sales prices, there were no major changes. In absolute terms, the gross result amounted to Euro 56.5 million (previous year: Euro 57.9 million).
-44 % Development EBT compared to previous year
Keyfact
Development of Gross Profit Margin
Gross Margin incl. development depreciation Gross Margin excl. development depreciation
Compared to the previous year figure of 2018, the lower gross profit of the current fiscal year 2019 had to bear an organically and inorganically grown organization as well as its associated personnel and material costs. The strategic investments in the personnel increase, particularly in R&D as well as marketing and sales, led to a decrease of the pre-tax result of Euro 10.1 million to Euro 13.1 million (previous year: Euro 23.2 million, -44 %) due to the currently weak market. In the third quarter, the upward trend of the EBT margin continued and was again above the strategic path of > 12 %. Apart from an increase of the gross profit this is mainly attributable to lower personnel costs due to dissolved vacation reserves and a high capitalization rate in R&D. The pre-tax return rate of the first nine months amounted to almost 11 %.
The last seven quarters
8
The period surplus amounted to Euro 9.3 million and thus was 46 % below the previous year's figure of Euro 17.3 million. The result per share (diluted/undiluted) amounted to Euro 0.94 (previous year: Euro 1.79).
The increase of the long-term assets is mainly due to the capitalization of the leasing contracts for the building according to IFRS 16 (initial application January 1, 2019), the M&A transaction in China, and the increase of intangible assets due to capitalized development services.
Regarding the short-term asset situation, particularly the inventories and accounts receivables increased due to the acquisition of the Chinese distribution partner MVLZ Sanbao Xingye, compared to the reporting date of December 31, 2018.
Equity amounted to Euro 100.7 million (December 31, 2018: Euro 75.5 million). The cumulated balance sheet total of the current financial year considerably increased due to the capitalization according to IFRS 16 as well as the capitalization of company values from acquisitions and intangible assets. However, on September 30, 2019, the equity ratio was relatively stable at 57.2 % (December 31, 2018: 54.3 %).
On May 16, 2019, the Basler AG shareholders' meeting resolved on an increase of the company's subscribed capital by Euro 7.0 million from Euro 3.5 million to Euro 10.5 million according to the provisions of a capital increase from company funds (section 207 et seq of the German Stock Corporation Act, AktG). The capital increase was conducted through a conversion of retained earnings amounting to Euro 7.0 million.
The operating cash flow amounted to Euro 14.0 million (previous year: Euro 22.9 million). In addition to the reduction of the result, it was negatively affected by an increase of inventories and accounts receivables. The cash flow from investing activities amounted to Euro -28.6 million (previous year: Euro -26.7 million), it was extraordinarily impacted by the M&A transaction in China. In consideration of the China transaction, in total, the free cash flow decreased to Euro -14.6 million (previous year: Euro -3.8 million).
At the end of the reporting period, liquid assets amounted to Euro 30.9 million (December 31, 2018: Euro 36.0 million). It ensures the company's financial stability in times of macroeconomic uncertainties.
The last seven quarters (in Euro million)
On January 1, 2019, the business of our Chinese distribution partner (MVLZ) was transferred to the newly established joint venture Basler China. Please refer to the explanations given in the annual report 2018 on this subject.
On the reporting date of September 30, 2019, the Basler group employed 810 (previous year: 649) employees (full-time equivalents). The significant increase compared to the previous year's quarter is mainly due to the future growth plan of the group. Furthermore, it is due to the transfer of the around 120 MVLZ employees to Basler China on January 1, 2019.
There are no significant changes compared to the information provided in the consolidated financial statements as of December 31, 2018.
Regarding significant opportunities and risks of the probable development of the company, we refer to the opportunities and risks described in the group management report as of December 31, 2018. Meanwhile, no significant changes occurred. Existing risks are continuously monitored and countermeasures are initiated. In the past quarter, a regular risk inventory was conducted within the Basler group. It largely confirmed the estimations of the previous inventory. Currently, major risks occur from a stronger competition, the availability of critical electronic components, macroeconomic and geopolitical changes as well as the ongoing post merger integration processes. For all major risks measures were initiated and further expanded in order to minimize the total risk.
The interim statement of Basler was prepared according to the International Financial Reporting Standards (IFRS) as applicable within the European Union (EU), the interpretations of the International Financial Reporting Interpretations Committee (IFRIC), as well as the Standing Interpretations Committee (SIC). The interim statement was prepared according to the provision of the IAS 34.
The interim statement as of September 30, 2019, has not been audited. The same accounting and valuation methods are applied as in the consolidated financial statements as of December 31, 2018. For significant changes of the consolidated balance sheet, the consolidated income statement as well as the consolidated cash flow statement, we refer to the report on the profit, finance and asset situation.
On January 1, 2019, IFRS 16 was initially applied. As explained in the annual report 2018, within the initial application, all building leasing agreements were balanced as economic ownership including 98 % of the total volume of all leasing contracts.
In the cash flow statement Euro 9.2 million were netted as capitalization of assets and a liability is recognized for lease payments and shown under "Payout for amortization of finance lease" in the cash flow from financing activities. The interest costs from finance lease amounted to Euro 317 thousand in the first nine months of 2019.
Basler (XETRA) vs. TecDax 01/01/2018 - 10/01/2019
After the implementation of the capital increase and the issuance of bonus shares resolved on at this year's shareholders' meeting, the share capital of Basler AG amounted to Euro 10.5 million at the end of the quarter on September 30, 2019, now divided into 10.5 million no-par-value bearer shares.
In the first nine months, there were two notifiable changes in the shareholder structure. At the end of March, 7-Industries Holding B.V. announced to hold over 5 % of the Basler shares. Furthermore, we were informed by Invesco Advisers, Inc., that due to a merger with Oppenheimer Funds Inc. they took over their block of Basler shares on May 24, 2019. On October 14, 2019, Invesco corrected this announcement since the chain of companies belonging to this transaction was not shown in a correct way in the April announcement. The AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS) belonging to Invesco Advisers; Inc., now holds 5.71 % of the Basler shares.
Keyfact
Keyfact
12
On September 30, 2019, the shareholder structure was as follows:
| 09/30/2018 Number of shares* |
09/30/2019 Number of shares |
|
|---|---|---|
| Supervisory Board | ||
| Norbert Basler | - | - |
| Prof. Dr. Eckart Kottkamp | - | - |
| Horst W. Garbrecht | - | - |
| Prof. Dr. Mirja Steinkamp | - | - |
| Dorothea Brandes | - | - |
| Dr. Marco Grimm | - | - |
| Management Board | ||
| Dr. Dietmar Ley | 377,382 | 377,382 |
| John P. Jennings | 13,500 | 13,500 |
| Arndt Bake | 2,100 | 1,650 |
| Hardy Mehl | 3,000 | 4,600 |
| * adjusted after capital increase |
The management board and the supervisory board of Basler AG decided on April 21, 2016, to buy back additional own shares. On September 17, 2018, the company informed the capital market to once again buy back own shares. This buyback program was closed on March 29, 2019. On the same day, the company sold 3.72 % (390,600 pieces, corresponds to 130,200 pieces before capital increase) of its shares to 7-Industries B.V. at a price of Euro 53.33 per piece (corresponds to 160.00 per piece before capital increase). After the implementation of the capital increase at the end of June 2019, the Basler group holds almost 4.7 % at the reporting date on September 30, 2019 (492,243 pieces of own shares, corresponds to 164.081 pieces before the capital increase). When preparing the third quarter report we noticed an incorrect presentation of these values in the half year report with 1,476,729 pieces after the capital increase and 492,243 pieces before the capital increase.
The current declaration of the management board and the supervisory board pursuant to § 161 of the German Stock Corporation Act (AktG) regarding the German Corporate Governance Code was made continually available to the shareholders on the company's website at www.baslerweb.com/Investoren/Corporate-Governance.
We affirm to the best of our knowledge that the interim consolidated financial statements, in accordance with the accounting principles applicable to interim reporting, provide a true and fair view of the group's asset, financial, and earnings situation and that the group's interim management report represents a true and fair picture of the course of business, including the operating result, and the group's financial situation as well as describing the essential opportunities and risks concomitant with the expected development of the group during the remainder of the fiscal year.
The management board
Dr. Dietmar Ley John P. Jennings Arndt Bake Hardy Mehl CEO CCO CMO CFO/COO
Group´s annual balance sheet according to IFRS for the fiscal year from January 1, 2019 to September 30, 2019
| in € k | 01/01/ - 09/30/2018 |
01/01/- 09/30/2019 |
07/01/ - 09/30/2018 |
07/01/- 09/30/2019 |
|---|---|---|---|---|
| Sales revenues | 116,351 | 123,155 | 32,973 | 41,439 |
| currency earnings | 45 | -292 | 188 | 106 |
| Cost of sales | -58,544 | -66,372 | -17,518 | -22,045 |
| - of which depreciations on capitalized | ||||
| developments | -4,757 | -5,134 | -1,486 | -1,749 |
| Gross profit on sales | 57,852 | 56,491 | 15,643 | 19,500 |
| Other operating income | 285 | 288 | 107 | 130 |
| Sales and marketing costs | -16,501 | -23,239 | -5,754 | -7,807 |
| General administration costs | -9,281 | -11,386 | -3,146 | -3,550 |
| Research and development | -8,171 | -8,149 | -2,542 | -2,158 |
| Other expenses | -855 | -403 | -301 | -11 |
| Operating result | 23,329 | 13,602 | 4,007 | 6,104 |
| Financial income | 137 | 174 | 48 | 40 |
| Financial expenses | -276 | -654 | -92 | -226 |
| Financial result | -139 | -480 | -44 | -186 |
| Earnings before tax | 23,190 | 13,122 | 3,963 | 5,918 |
| Income tax | -5,922 | -3,844 | -1,247 | -1,414 |
| Group´s period surplus | 17,268 | 9,278 | 2,716 | 4,504 |
| of which are allocated to | ||||
| shareholders of the parent company | 17,268 | 9,278 | 2,716 | 4,504 |
| non-controlling shareholders | 0 | 0 | 0 | 0 |
| Average number of shares | 9,642,140 | 9,890,577 | 9,668,337 | 10,007,757 |
| Earnings per share diluted / undiluted (€) | 1.79 | 0.94 | 0.28 | 0.45 |
Group´s annual balance sheet according to IFRS for the fiscal year from January 1, 2019 to September 30, 2019
| in € k | 01/01/ - 09/30/2018 |
01/01/ - 09/30/2019 |
|---|---|---|
| Group's period surplus | 17,268 | 9,278 |
| Result from differences due to currency | ||
| conversion, directly recorded in equity | 171 | 226 |
| Surplus/ Net loss from cash flow hedges | 0 | 0 |
| profit neutral adjustment Finance lease / IFRS 15 | 0 | 0 |
| Total result, through profit or loss | 171 | 226 |
| Total result | 17,439 | 9,504 |
| of which are allocated to | ||
| shareholders of the parent company | 17,439 | 9,504 |
| non-controlling shareholders | 0 | 0 |
Group´s annual balance sheet according to IFRS for the fiscal year from January 1, 2019 to September 30, 2019
| in € k | 01/01/- 09/30/2018 |
01/01/- 09/30/2019 |
07/01/- 09/30/2018 |
07/01/- 09/30/2019 |
|---|---|---|---|---|
| Operating activities | ||||
| Group's period surplus | 17,268 | 9,278 | 2,716 | 4,504 |
| Increase (+) / decrease (-) in deferred taxes | 588 | 1,012 | 379 | 647 |
| Interest expense / Interest income | 353 | 729 | 124 | 273 |
| Depreciation of fixed assets | 7,637 | 9,453 | 2,570 | 3,273 |
| Change in capital resources without affecting payment | 125 | 226 | -8 | 181 |
| Increase (+) / decrease (-) in accruals | 671 | 108 | -753 | 295 |
| Profit (-) / loss (+) from asset disposals | 0 | 0 | 0 | 0 |
| Increase (-) / decrease (+) in reserves | 610 | -1,297 | 1,445 | 2,050 |
| Increase (+) / decrease (-) in advances from demand | -1,760 | 295 | -50 | -100 |
| Increase (-) / decrease (+) in accounts receivable | -2,609 | -5,280 | 1,871 | -1,989 |
| Increase (-) / decrease (+) in other assets | -82 | -2,771 | -134 | -931 |
| Increase (+) / decrease (-) in accounts payable | ||||
| -3,131 | -269 | -2,276 | -1,257 | |
| Increase (+) / decrease (-) in other liabilities | 3,182 | 2,480 | 4,814 | -256 |
| Net cash provided by operating activities | 22,852 | 13,964 | 10,698 | 6,690 |
| Investing activities | ||||
| Payout for investments in fixed assets | -26,690 | -28,627 | -20,379 | -4,829 |
| Incoming payments for asset disposals | 19 | 36 | 0 | 36 |
| Incoming payments for asset disposals | 0 | 0 | 0 | 0 |
| Net cash provided by investing activities | -26,671 | -28,591 | -20,379 | -4,793 |
| Financing activities | ||||
| Payout for amortisation of bank loans | -712 | -991 | -278 | -557 |
| Payout for amortisation of finance lease | -1,666 | -2,107 | -555 | -745 |
| Incoming payment for borrowings from banks | 2,700 | 1,811 | 0 | -82 |
| Interest payments | -353 | -729 | -124 | -273 |
| Incoming payment for sale of own shares | 0 | 20,822 | 0 | 0 |
| Payout for own shares | 2,648 | 0 | 2,648 | 0 |
| Dividends paid | -6,487 | -5,104 | 0 | 0 |
| Net cash provided by financing activities | -3,870 | 13,702 | 1,691 | -1,657 |
| Change in liquid funds | -7,689 | -925 | -7,990 | 240 |
| Funds at the beginning of the period | 37,581 | 31,830 | 37,882 | 30,665 |
| Funds at the end of the period | 29,892 | 30,905 | 29,892 | 30,905 |
| Composition of liquid funds at the end of the period | ||||
| Cash in bank and cash in hand | 29,892 | 30,905 | 29,892 | 30,905 |
| Payout for taxes | -3,876 | -4,743 | -1,460 | -2,018 |
Group´s annual balance sheet according to IFRS for the fiscal year from January 1, 2019 to September 30, 2019
| in € k | 12/31/2018 | 09/30/2019 |
|---|---|---|
| Assets | ||
| A. Long-term assets | ||
| I. Intangible assets | 28,100 | 32,934 |
| II. Fixed assets | 10,562 | 11,450 |
| III. Buildings and land in finance lease | 11,971 | 20,028 |
| IV. Goodwill | 12,740 | 27,341 |
| V. Other financial assets | 5 | 5 |
| VI. Deferred tax assets | 72 | 550 |
| 63,450 | 92,308 | |
| B. Short-term assets | ||
| I. Inventories | 21,033 | 22,330 |
| II. Receivables from deliveries and services and from | ||
| production orders | 18,247 | 23,527 |
| III. Other short-term financial assets | 1,714 | 2,935 |
| IV. Other short-term assets | 1,682 | 1,691 |
| V. Claim for tax refunds | 998 | 2,537 |
| VI. Cash in bank and cash in hand | 31,830 | 30,905 |
| 75,504 | 83,925 | |
| 138,954 | 176,233 |
| in € k | 12/31/2018 | 09/30/2019 |
|---|---|---|
| Liabilities | ||
| A. Equity | ||
| I. Subscribed capital | 3,206 | 10,008 |
| II. Capital reserves | 5,286 | 22,398 |
| III. Retained earnings including group's earnings | 66,541 | 67,623 |
| IV. Other components of equity | 492 | 718 |
| 75,525 | 100,747 | |
| B. Long-term debt | ||
| I. Long-term liabilities | ||
| 1. Long-term liabilities to banks | 17,723 | 15,323 |
| 2. Other financial liabilities | 4,840 | 4,958 |
| 3. Liabilities from finance lease | 8,454 | 14,208 |
| II. Non-current provisions | 1,153 | 1,153 |
| III. Deferred tax liabilities | 7,933 | 9,423 |
| 40,103 | 45,065 | |
| C. Short-term debt | ||
| I. Other financial liabilities | 1,773 | 4,921 |
| II. Short-term accrual liabilities | 4,391 | 5,441 |
| III. Short-term other liabilities | ||
| 1. Liabilities from deliveries and services | 7,391 | 7,121 |
| 2. Other short-term financial liabilities | 5,209 | 7,940 |
| 3. Liabilities from finance lease | 1,805 | 3,183 |
| IV. Current tax liabilities | 2,757 | 1,815 |
| 23,326 | 30,421 | |
| 138,954 | 176,233 |
Group´s annual balance sheet according to IFRS for the fiscal year from January 1, 2019 to September 30, 2019
| Other components of equity | |||||||
|---|---|---|---|---|---|---|---|
| Retained | Differen | Reserves | |||||
| earnings | ces due to | for cash | Sum of other | ||||
| Subscribed | Capital | incl. group's | currency | flow | components of | ||
| in € k | capital | reserve | earnings | conversion | hedges | equity | Total |
| Shareholders´ equity as of 01/01/2018 |
3,211 | 3,119 | 59,028 | 272 | 0 | 272 | 65,630 |
| Total result | 17,268 | 171 | 171 | 17,439 | |||
| Share salesback | 2,632 | 2,632 | |||||
| Share buyback | 0 | 0 | 0 | ||||
| Dividend outpayment* |
-6,487 | -6,487 | |||||
| Shareholders´ equity as of |
|||||||
| 09/30/2018 | 3,211 | 3,119 | 72,441 | 443 | 0 | 443 | 79,214 |
| Total result | 0 | -470 | 49 | 49 | -421 | ||
| Share salesback | -1 | 2,203 | -2,166 | 36 | |||
| Share buyback | -20 | -3,264 | -3,284 | ||||
| Dividend outpayment* |
0 | 0 | |||||
| Shareholders´ | |||||||
| equity as of 12/31/2018 |
3,190 | 5,322 | 66,541 | 492 | 0 | 492 | 75,545 |
| Total result | 0 | 9,278 | 226 | 0 | 226 | 9,504 | |
| Share salesback | 130 | 16,784 | 3,908 | 20,822 | |||
| Capital increase from company |
|||||||
| funds | 6,672 | 328 | -7,000 | 0 | |||
| Share buyback | 0 | 0 | 0 | ||||
| Dividend outpayment** |
-5,104 | -5,104 | |||||
| Shareholders´ equity as of 09/30/2019 |
9,992 | 22,434 | 67,623 | 718 | 0 | 718 | 100,767 |
* € 0.67 per share (distribution in 2018 for 2017)
** € 0.51 per share (distribution in 2019 for 2018)
| Datum | Veranstaltung | Ort |
|---|---|---|
| 11/25/2019-11/26 | Deutsches Eigenkapitalforum 2019 | |
| /2019 | (Germany equity forum) | Frankfurt/Main, Germany |
| Date | Event | Venue |
|---|---|---|
| 11/18/2019-11/21/2019 | COMPAMED / MEDICA 2019 | Düsseldorf, Germany |
An der Strusbek 60-62 22926 Ahrensburg Germany Tel. +49 4102 463 0 Fax +49 4102 463 109 [email protected]
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855 Springdale Drive, Suite 203 Exton, PA 19341 USA Tel. +1 610 280 0171 Fax +1 610 280 7608 [email protected]
35 Marsiling Industrial Estate Road 3 #05-06 Singapur 739257 Tel. +65 6367 1355 Fax +65 6367 1255 [email protected]
No. 21, Sianjheng 8th St. Jhubei City, Hsinchu County 30268 Taiwan/R.O.C. Tel. +886 3 558 3955 Fax +886 3 558 3956 [email protected]
N2nd Floor, Building No.5, Dongsheng International Pioneer Park, No.1 Yongtaizhuang NorthRoad, Haidian District, Peking Tel. +86-010-51262828 Fax +86-010-62800520 [email protected]
Konrad-Zuse-Ring 28 68163 Mannheim Germany Tel. +49.621.789 507-0 Fax +49.621.789 507-10 [email protected]
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