Quarterly Report • Nov 5, 2018
Quarterly Report
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| in € m* | 01/01/ - 09/30/2017 |
01/01/ - 09/30/2018 |
Changes to previ ous year |
07/01/ - 09/30/2017 |
07/01/ - 09/30/2018 |
Changes to previ ous year |
|---|---|---|---|---|---|---|
| Sales revenues | 121.1 | 116.4 | -4% | 42.6 | 33.0 | -23 % |
| Incoming orders | 126.4 | 112.2 | -11% | 26.0 | 32.4 | 25 % |
| Gross results | 61.3 | 57.9 | -6% | 21.8 | 15.6 | -28 % |
| Gross profit margin | 50.6 % | 49.7 % | -1 Pp. | 51.2 % | 47.3 % | -4 Pp. |
| Full costs for research and development |
11.7 | 14.2 | 21% | 3.8 | 5.1 | 34 % |
| Research and | ||||||
| development ratio | 9.7 % | 12.2 % | 3 Pp. | 8.9 % | 15.5 % | 7 Pp. |
| EBITDA | 36.0 | 31.0 | -14% | 13.0 | 6.6 | -49 % |
| EBIT | 29.3 | 23.3 | -20% | 10.8 | 4.0 | -63 % |
| EBT | 28.8 | 23.2 | -19% | 10.6 | 4.0 | -62 % |
| Net income | 20.4 | 17.3 | -15% | 7.4 | 2.7 | -64 % |
| Weighted average number of shares |
3,208,918 | 3,214,047 | 0% | 3,211,136 | 3,222,779 | 0 % |
| Result per share(€) | 6.37 | 5.37 | -16% | 2.32 | 0.84 | -64 % |
| Cash flow from operating activities |
28.7 | 22.9 | -20% | 17.2 | 10.7 | -38 % |
| Cash flow from investing activities |
-10.6 | -26.7 | n.a. | -3.3 | -20.4 | n.a. |
| Free Cash flow | 18.1 | -3.8 | n.a. | 13.9 | -9.7 | n.a. |
| in € m* | 12/31/2016 12/31/2017 09/30/18 | Changes to previous year |
||
|---|---|---|---|---|
| Total assets | 90.4 | 117.7 | 135.0 | 15 % |
| Long-term assets | 43.9 | 45.9 | 63.8 | 39 % |
| Equity | 50 | 65.6 | 79.2 | 21 % |
| Liabilities | 40.4 | 52.1 | 55.8 | 7 % |
| Equity ratio | 55.3 % | 55.7 % | 58.7 % | 3 Pp. |
| Net cash | 8.8 | 25.0 | 22.0 | -12 % |
| Working Capital | 18.6 | 19.8 | 29.6 | 50 % |
| Number of employees for the fiscal year (full time equivalents) |
457 | 504 | 649 | 29 % |
| Share price (XETRA) in € |
60.37 | 195.05 | 164.00 | -16 % |
| Number of shares in circulation |
3,215,247 | 3,211,136 3,226,660 | 0 % | |
| Market capitalization |
194.1 | 626.3 | 529.2 | -16 % |
| *unless otherwise stated |
Incoming orders: Euro 112.2 million (previous year: Euro 126.4 million, -11 %) ¼ Sales: Euro 116.4 million (previous year: Euro 121.1 million, -4 %) ¼ EBITDA: Euro 31.0 million (previous year: Euro 36.0 million, -14 %) ¼ EBT: Euro 23.2 million (previous year: Euro 28.8 million, -19 %) ¼ EAT: Euro 17.3 million (previous year: Euro 20.4 million, -15 %) ¼ Operating cash flow: Euro 22.9 million (previous year: Euro 28.7 million, -20 %) ¼ Cash flow from investing activities: Euro -26.7 million (previous year:
¼ Free cash flow incl. acquisition of Silicon Software GmbH: Euro -3.8 million
In an expected weakening market environment compared to the extraordinarily dynamic growth in the previous year, the Basler group closed the first nine months of 2018 along its forecast. The weakening market environment showed a slightly stronger downswing in the third quarter than expected at the beginning of the year. However, a nearly balanced book-to-bill ratio in the third quarter indicates a stabilization of the situation in the fourth quarter. The accumulated incoming orders, sales, and result are below the very strong level of the previous year, however, the EBT margin is on a very high level. The average increase in sales of the past two years is on track of the long-term ambitious growth path of over 15 %. Even in this weaker market situation, we adhere to our investment planning in order to continuously increase our competitiveness, sustainably gain market shares in existing markets and enter new application fields. So, we implemented growth relevant measures in the development, production, and sales areas without limitations in the past months. We still assume the growth of the computer vision market to remain strong, however, influenced by the currently weaker market phase, but we do not consider it sustainably endangered. The significant acquisitions of the MyCable GmbH, and Silicon Software GmbH, as well as the joint venture with our Chinese distribution partner (MVLZ) expand the technology expertise, the product portfolio as well as the market presence of the company. Regarding our inorganic growth efforts, we actively continue to push forward the integration of both acquisitions, and prepare the transfer of business of our Chinese distribution partner MVLZ into the newly established joint venture Basler China. This will become effective at the beginning of 2019.
In a slowing market environment compared to the previous year, in the first nine months of 2018, the Basler group developed along its sales forecast and above its profitability forecast. Even though sales decreased by 4 % and incoming orders by 11 %, in the third quarter a stabilization of the market situation became apparent showing an almost balanced book-to-bill ratio.
At the major trade fair Vision from November 6 – 8, 2018, Basler will announce numerous innovations and further developments of its portfolio. Furthermore, for the first time, Basler will present itself as full-service provider for computer vision hardware, and not as a pure manufacturer of cameras.
So far, for the Basler group the fiscal year 2018 has been according to the expectations along the forecast which was communicated to the capital market. Profitability in the first nine months was higher than expected, on the one hand because of a gross margin above plan and on the other hand because of below plan personnel costs and other operating costs. Despite the relatively weak third quarter, the management expects a stabilization in the fourth quarter and a seasonal recovery at the beginning of 2019. Even if the current macroeconomic conditions have dampening effects and the risk of a recession increases, the management basically has a positive outlook on the future. Basic 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 and/or IOT) are intact. The management confirms the recently specified and increased forecast for the total financial year. According to this, the group's sales 2018 will be within a corridor of Euro 145 – 155 million at a pretax profit margin of 15 – 17 % taking into account the proportionate sales revenues resulting from the acquisition of the Silicon Software GmbH. In the second half year, Silicon Software is expected to contribute nearly Euro 5 million to the group's sales.
Based on these positive results and the market prospects, the management will continue to go ahead with the recruiting of additional staff and to push forward the implementation of the profitable growth strategy.
Compared to the previous year, sales decreased by 4 % to Euro 116.4 million (previous year: Euro 121.1 million). Due to the reasons mentioned above, incoming orders decreased by 11 % to Euro 112.2 million (previous year: Euro 126.4 million). Deviations to the prior year quarters are due to the exceptionally dynamic financial year 2017 and are therefore of limited relevance. In total, the accumulated incoming orders and sales of the first nine months are slightly weaker than originally planned, however, they are within the forecast corridor.
As expected, the previous year's strong demand for investment goods in the electronics industry that was due to an extraordinary investment cycle of manufacturers of mobile devices such as smartphones and tablets has not reoccurred. Compared to the previous year, the manufacturers of mobile devices invested considerably less in new product generations. At the same time, the productivity of production machines that were installed in the previous year was increased and thus additionally reduced the need for capacity expansions. This also strongly influenced the investment behavior in the supplier industries; this applies in particular to OLED displays. However, in other segments of the factory automation market as well as in the medical and logistics sector, market growth continued unchanged. The declines in demand from the electronics industry were mostly compensated by other business, but not completely.
Compared to the previous year, in the first months of the year, Basler significantly expanded its production capacity and thus considerably reduced lead times for orders. These measures were successfully completed in the first half year already. Thus, future peaks in demand can be mastered without a noticeable increase of the usual short delivery times. Due to consistently short delivery times in the first nine months, customers did not place larger orders earlier as in the previous year. Because of this normalized order behavior of the customers and the market slowdown in the third quarter, the accumulated incoming orders decreased by 11 % to approximately Euro 112 million in the first three quarters
At the end of September 2018, the Verband Deutscher Maschinen– und Anlagenbau (VDMA) reported for 2018 a decline in sales of 3 % for German manufacturers of image processing components. According to VDMA, incoming orders of the sector increased by 8 %.
In the past months, the portfolio of the successful camera series ace was extended with various models. The new models are all based on modern high quality CMOS image sensors of the Sony Pregius series and will replace medium-term older camera models with discontinued Sony CCD sensors. Additionally, Basler has launched a camera series especially for Medical & Life Sciences in the first half-year, the Basler MED ace series. Unique functionality addresses the special needs for the capital goods market for medical and life sciences. Basler's new DIN EN ISO 13485:2016 certification furthermore offers customers conformity to the internationally acknowledged quality standard of the medical industry.
Additionally, in the third quarter, the autumn release of the software development kit (SDK) pylon was launched onto the market. The high performance software developed by Basler was extended by numerous functions. The focus in the past months was on further simplifying the integration of Basler cameras in order to make them attractive for new application fields. The most important component for this is the pylon software. It offers to customers of all applications an easy and quick integration of the cameras during the development phase.
Another product innovation is the embedded vision development kit existing of the Qualcomm ARM based SoC with integrated ISP (image signal processor), the Snapdragon™ 820, the Basler dart 5 megapixel camera module with CON for MIPI interface as well as the pylon camera software Suite for the Linux operating system.
GROSS PROFIT*
Due to the very positive gross result as well as below plan personnel costs and other operating costs, the pre-tax result amounted to Euro 23.2 million (previous year: Euro 28.8 million, -19 %). The pre-tax return rate of about 20 % was clearly above the original forecast of 13 - 15 %. In the third quarter, however, the weak sales in combination with the increased personnel and other operating costs led to a significant reduction of the pre-tax return rate. At 12.1 % the pre-tax return rate was in the range of the target corridor of Basler's profitable growth strategy.
For the last seven quarters (in € million)
For the last seven quarters (in € million)
Sales Order entry *Silicon Software since July 2018
In the third quarter, the gross profit margin developed slightly negatively because of idle costs in production due to expanded capacities and a non-optimal utilization rate as well as increasing development depreciations. The accumulated gross profit margin is relatively stable and amounted to 49.7 % (previous year: 50.6 %). Due to regional market developments, the Asian portion reduced and in the electronics industry sector there were less price sensitive major projects. In absolute terms, the gross result amounted to Euro 57.9 million (previous year: Euro 61.3 million).
-19 %
Keyfact
On July 10, 2018, Basler AG signed a joint venture agreement with its distributor, Beijing Sanbao Xingye Image Tech. Co. Ltd. ("MVLZ"), to transfer their Machine Vision division in China on January 1st, 2019. The transfer will be fully completed by January 1, 2019, and be made within a newly established joint venture. At the business launch the clear majority of the shares of the joint venture will be owned by Basler and thus be fully consolidated in the Basler group in the upcoming year.
More detailed information about this joint venture is shown in the half year report 2018.
Furthermore, on July 19, 2018, Basler acquired with immediate effect 100 % of the shares of Silicon Software GmbH based in Mannheim, Germany. Silicon Software is one of the leading global manufacturers of frame grabbers and software for the graphic programming of vision processors.
More detailed information about this acquisition are shown in the half year report 2018.
For the initial consolidation of Silicon Software GmbH, three intangible assets that are to be shown in the balance sheet were identified within the purchase price allocation according to IFRS 3. These are two technologies of a value of Euro 4.9 million and the existing order backlog on July 1, 2018, amounting to Euro 0.8 million. In the future, the two technologies will be depreciated on a linear basis over 6.5 years, if no indications for an impairment test will be identified. The order backlog will be depreciated over the next two years.
On reporting date September 30, 2018, the Basler group employed 649 (previous year: 507) employees (full-time equivalents) including the new employees resulting from the acquisition of Silicon Software. The increase is mainly targeting the future growth plan of the group. After a slower expansion than planned in the first half year, the company made good progress in filling vacant positions in the third quarter and partially compensated the slower staffing in the first half year.
There are no significant changes compared to the information provided in the consolidated financial statements as of December 31, 2017.
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, 2017. Meanwhile, no significant changes occurred. Besides the continuous monitoring of all business risks, a detailed regular risk inventory was performed for the entire Basler group in the past quarter. As in the previous year, significant risks are related to the procurement market for certain electronic components as well as macroeconomic changes. Furthermore, the successful integration of the acquisitions of Silicon Software and MyCable is a key focus.
The period surplus amounted to Euro 17.3 million exceeding the previous year's value of Euro 20.4 million by 15 %. Thus, the result per share (diluted/undiluted) was Euro 5.37 (previous year: Euro 6.37).
The increase of the long-term assets is mainly due to the acquisition of the Silicon Software GmbH. Equity was Euro 79.2 million (31.12.2017: Euro 65.6 million), thus the equity ratio was 58.7 % on September 30, 2018 compared to 55.7 % on December 31, 2017.
The operating cash flow amounted to Euro 22.9 million (previous year: Euro 28.7 million). The slowdown of business at the end of the reporting period led to a decrease in assets and liabilities in the third quarter and a slight increase of inventories, particularly the RHB materials. The cash flow from investing activities amounted to Euro -26.7 million (previous year: Euro -10.6 million) including the acquisition of the Silicon Software GmbH. Free cash flow decreased to a level of Euro -3.8 million (previous year: Euro 18.1 million).
Since the beginning of the year, liquid assets decreased from Euro 36.0 million to Euro 29.9 million, in particular due to the acquisition of the Silicon Software GmbH.
For the last seven Quarters (in € million)
Opening price 07/02/2018
Keyfact
Keyfact
The share capital of Basler AG remained unchanged at Euro 3.5 million at the end of the quarter on September 30, 2018 divided into 3.5 million of no-par-value bearer shares.
The third quarter has not seen a change in the shareholder structure, which showed on September 30, 2018 as follows:
| Supervisory Board | |
|---|---|
| Management Board | |
| 12/31/2017 Number of shares |
06/30/2018 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 | 125,794 | 125,794 |
| John P. Jennings | 5,500 | 4,500 |
| Arndt Bake | 700 | 700 |
| Hardy Mehl | 800 | 1,200 |
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 markets about buying back additional own shares and started on the same day to buy back no-par bearer shares. At the reporting date of September 30, 2018, the group holds almost 7.8 % of own shares (273,340 pieces).
More detailed information relating to the share buyback program of the Basler group can be found in the annual report 2017 and on the company's website.
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 present was prepared according to the provision of the IAS 34.
The interim statement as of September 30, 2018, is unaudited and was not subject to auditing review. Basically, the same accounting and valuation methods are applied as in the consolidated financial statements as of December 31, 2017. 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.
With regard to the first-time application of IFRS 15 regarding the revenue recognition, it is assumed that the retained earnings will be reduced by Euro 221 thousand after application of the modified retrospective method. This adjustment will be made on Dec 31, 2018.
Furthermore, currently a project for implementing IFRS 16 is completed. Significant effects on the consolidated balance sheet were not found. From today's view, approximately 20 car leasing agreements and 10 other leasing agreements will have to be revaluated from January 1, 2019 on.
BASLER (Xetra) vs. TecDax 2017/01/01-2018/09/30
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. On April 17, 2018, an intra-annual supplement was made to item 5.4.1 also available on mentioned above website.
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, 2018 to September 30, 2018
| in € k | 01/01/ - 09/30/2017 |
01/01/ - 09/30/2018 |
07/01/ - 09/30/2017 |
07/01/ - 09/30/2018 |
|---|---|---|---|---|
| Sales revenues | 121,073 | 116,351 | 42,564 | 32,973 |
| Currency earnings | -310 | 45 | -300 | 188 |
| Cost of sales | -59,753 | -58,544 | -20,753 | -17,518 |
| - of which depreciations on capitalized | ||||
| developments | -4,125 | -4,757 | -1,444 | -1,486 |
| Gross profit on sales | 61,010 | 57,852 | 21,511 | 15,643 |
| Other operating income | 408 | 285 | 152 | 107 |
| Sales and marketing costs | -14,391 | -16,501 | -4,748 | -5,754 |
| General administration costs | -9,790 | -9,281 | -3,120 | -3,146 |
| Research and development | -7,344 | -8,171 | -2,683 | -2,542 |
| Other expenses | -556 | -855 | -298 | -301 |
| Operating result | 29,337 | 23,329 | 10,814 | 4,007 |
| Financial income | 190 | 137 | 48 | 48 |
| Financial expenses | -723 | -276 | -242 | -92 |
| Financial result | -533 | -139 | -194 | -44 |
| Earnings before tax | 28,804 | 23,190 | 10,620 | 3,963 |
| Income tax | -8,371 | -5,922 | -3,184 | -1,247 |
| Group´s period surplus | 20,433 | 17,268 | 7,436 | 2,716 |
| of which are allocated to | ||||
| shareholders of the parent company | 20,433 | 17,268 | 7,436 | 2,716 |
| non-controlling shareholders | 0 | 0 | 0 | 0 |
| Average number of shares | 3,208,918 | 3,214,047 | 3,211,136 | 3,222,779 |
| Earnings per share diluted / undiluted (€) | 6.37 | 5.37 | 2.32 | 0.84 |
Group´s annual balance sheet according to IFRS for the fiscal year from January 1, 2018 to September 30, 2018
| in € k | 01/01/ - 09/30/2017 |
01/01/ - 09/30/2018 |
|---|---|---|
| Group's period surplus | 20,433 | 17,268 |
| Result from differences due to currency conversion, directly recorded in equity |
-383 | 171 |
| Surplus/ Net loss from cash flow hedges | 0 | 0 |
| Total result, through profit or loss | -383 | 171 |
| Total result | 20,050 | 17,439 |
| of which are allocated to | ||
| shareholders of the parent company | 20,050 | 17,439 |
| non-controlling shareholders | 0 | 0 |
Group´s annual balance sheet according to IFRS for the fiscal year from January 1, 2018 to September 30, 2018
| in € k | 01/01/ - 09/30/2017 |
01/01/ - 09/30/2018 |
07/01/ - 09/30/2017 |
07/01/ - 09/30/2018 |
|---|---|---|---|---|
| Operating activities | ||||
| Group's period surplus | 20,433 | 17,268 | 7,436 | 2,716 |
| Increase (+) / decrease (-) in deferred taxes | 1,767 | 588 | -80 | 379 |
| Payout/ incoming payments for interest | 798 | 353 | 222 | 124 |
| Depreciation of fixed assets | 6,773 | 7,637 | 2,458 | 2,570 |
| Change in capital resources without | ||||
| affecting payment | -383 | 125 | -146 | -8 |
| Increase (+) / decrease (-) in accruals | 8,526 | 671 | 4,036 | -753 |
| Profit (-) / loss (+) from asset disposals | -16 | 0 | -10 | 0 |
| Increase (-) / decrease (+) in reserves | -2,422 | 610 | -557 | 1,445 |
| Increase (+) / decrease (-) in advances from demand | 9 | -1,760 | 10 | -50 |
| Increase (-) / decrease (+) in accounts receivable | -9,539 | -2,609 | 3,671 | 1,871 |
| Increase (-) / decrease (+) in other assets | -677 | -82 | -316 | -134 |
| Increase (+) / decrease (-) in accounts payable | 3,637 | -3,131 | 485 | -2,276 |
| Increase (+) / decrease (-) in other liabilities | -236 | 3,182 | 20 | 4,814 |
| Net cash provided by operating activities | 28,670 | 22,852 | 17,229 | 10,698 |
| Investing activities | ||||
| Payout for investments in fixed assets | -10,803 | -26,690 | -3,460 | -20,379 |
| Incoming payments for asset disposals | 155 | 19 | 139 | 0 |
| Net cash provided by investing activities | -10,648 | -26,671 | -3,321 | -20,379 |
| Financing activities | ||||
| Payout for amortisation of bank loans | -244 | -712 | 0 | -278 |
| Payout for amortisation of finance lease | -1,195 | -1,666 | -403 | -555 |
| Incoming payment for borrowings from banks | 1,200 | 2,700 | 0 | 0 |
| Interest payout | -797 | -353 | -221 | -124 |
| Incoming payment for sale of own shares | 0 | 0 | 0 | 0 |
| Payout for own shares | 173 | 2,648 | 0 | 2,648 |
| Dividends paid | -2,371 | -6,487 | 0 | 0 |
| Net cash provided by financing activities | -3,234 | -3,870 | -624 | 1,691 |
| Change in liquid funds | 14,788 | -7,689 | 13,284 | -7,990 |
| Funds at the beginning of the fiscal period | 19,880 | 37,581 | 21,384 | 37,882 |
| Funds at the end of the fiscal period | 34,668 | 29,892 | 34,668 | 29,892 |
| Composition of liquid funds at the end of the fiscal period |
||||
| Cash in bank and cash in hand | 34,668 | 29,892 | 34,668 | 29,892 |
| Payout for taxes | 1,297 | 3,876 | 531 | 1,460 |
| I. Subscribed capital | 3,211 | 3,227 |
|---|---|---|
| II. Capital reserves | 3,119 | 3,119 |
| III. Retained earnings including group's earnings | 59,028 | 72,405 |
| IV. Other components of equity | 272 | 443 |
| 65,630 | 79,194 | |
| B. Long-term debt | ||
| I. Long-term liabilities | ||
| 1. Long-term liabilities to banks | 9,912 | 12,766 |
| 2. Other financial liabilities | 542 | 5,090 |
| 3. Liabilities from finance lease | 10,258 | 10,257 |
| II. Non-current provisions | 1,406 | 1,406 |
| III. Deferred tax liabilities | 5,525 | 7,891 |
| 27,643 | 37,410 | |
| C. Short-term debt | ||
| I. Other financial liabilities | 1,590 | 1,949 |
| II. Short-term accrual liabilities | 3,802 | 4,347 |
| III. Short-term other liabilities | ||
| 1. Liabilities from deliveries and services | 10,107 | 7,147 |
| 2. Other short-term financial liabilities | 4,776 | 1,792 |
| 3. Liabilities from finance lease | 2,224 | 557 |
| IV. Current tax liabilities | 1,948 | 2,609 |
| 24,447 | 18,401 | |
| 117,720 | 135,005 |
Group´s annual balance sheet according to IFRS for the fiscal year from January 1, 2018 to September 30, 2018
| in € k | 12/31/2017 09/30/2018 | |
|---|---|---|
| Assets | ||
| A. Long-term assets | ||
| I. Intangible assets | 21,476 | 27,923 |
| II. Fixed assets | 8,784 | 10,710 |
| III. Buildings and land in finance lease | 12,481 | 12,099 |
| IV. Goodwill | 3,139 | 12,998 |
| V. Other financial assets | 5 | 5 |
| VI. Deferred tax assets | 39 | 65 |
| 45,924 | 63,801 | |
| B. Short-term assets | ||
| I. Inventories | 20,829 | 22,601 |
| II. Receivables from deliveries and services and from production orders |
11,066 | 14,470 |
| III. Other short-term financial assets | 1,666 | 2,033 |
| IV. Other short-term assets | 1,040 | 1,161 |
| V. Claim for tax refunds | 1,170 | 1,047 |
| VI. Cash in bank and cash in hand | 36,025 | 29,892 |
| 71,796 | 71,204 | |
| 117,720 | 135,005 |
Group´s annual balance sheet according to IFRS for the fiscal year from January 1, 2018 to September 30, 2018
| Other components of equity | |||||||
|---|---|---|---|---|---|---|---|
| Retained | Differen | Reserves | |||||
| Sub | earnings | ces due to | for cash | Sum of other | |||
| scribed | Capital | incl. group's | currency | flow | components of | ||
| in € k | capital | reserve | earnings | conversion | hedges | equity | Total |
| Shareholders´ equity as of 01/01/2017 |
3,215 | 2,443 | 43,648 | 710 | 0 | 710 50,016 | |
| Total result | 20,433 | -383 | -383 20,050 | ||||
| Share salesback | 0 | 0 | |||||
| Share buyback | -4 | 177 | 173 | ||||
| Dividend outpayment* | -2,371 | -2,371 | |||||
| Shareholders´equity as of 09/30/2017 |
3,211 | 2,443 | 61,887 | 327 | 0 | 327 67,868 | |
| Total result | 676 | -2,859 | -55 | -55 -2,238 | |||
| Share salesback | 831 | 831 | |||||
| Share buyback | 0 | -831 | -831 | ||||
| Shareholders´equity as of 12/31/2017 |
3,211 | 3,119 | 59,028 | 272 | 0 | 272 65,630 | |
| Total result | -36 | 17,268 | 171 | 0 | 171 17,403 | ||
| Share salesback | 16 | 2,632 | 2,648 | ||||
| Share buyback | 0 | 0 | 0 | ||||
| Dividend outpayment** | -6,487 | -6,487 | |||||
| Shareholders´ equity as of 09/30/2018 |
3,227 | 3,083 | 72,441 | 443 | 0 | 443 79,194 |
* 0,74 € per share
** 2,02 € per share
| Date | Event | Venue |
|---|---|---|
| Deutsches Eigenkapitalforum 2018 | ||
| 11/26 - 28/2018 | (Germany equity forum) |
Frankfurt am Main, Germany
An der Strusbek 60-62 22926 Ahrensburg Germany Tel. +49 4102 463 0 Fax +49 4102 463 109 [email protected] baslerweb.com
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 Singapore 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]
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