Interim / Quarterly Report • Aug 13, 2018
Interim / Quarterly Report
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| in € m* | 01/01/ - 06/30/2017 |
01/01/ - 06/30/2018 |
Changes to previ ous year |
04/01/ - 06/30/2017 |
04/01/ - 06/30/2018 |
Changes to previ ous year |
|---|---|---|---|---|---|---|
| Sales revenues | 78.5 | 83.4 | 6 % | 42.2 | 38.4 | -9 % |
| Incoming orders | 100.4 | 79.8 | -21 % | 40.0 | 33.7 | -16 % |
| Gross results | 39.5 | 42.2 | 7 % | 21.5 | 19.5 | -9 % |
| Gross profit margin | 50.3 % | 50.6 % | 0 Pp. | 50.9 % | 50.8 % | 0 Pp. |
| Full costs for research and development |
7.9 | 9.1 | 15 % | 3.9 | 4.6 | 18 % |
| Research and development ratio |
10.1 % | 10.9 % | 1 Pp. | 9.2 % | 12.0 % | 3 Pp. |
| EBITDA | 23.0 | 24.4 | 6 % | 13.0 | 10.0 | -23 % |
| EBIT | 18.5 | 19.3 | 4 % | 10.5 | 8.5 | -19 % |
| EBT | 18.2 | 19.2 | 5 % | 10.3 | 8.5 | -17 % |
| Net income | 13.0 | 14.6 | 12 % | 7.3 | 6.5 | -11 % |
| Weighted average number of shares |
3,223,304 | 3,211,136 | 0 % 3,206,209 | 3,211,136 | 0 % | |
| Result per share(€) | 4.03 | 4.53 | 12 % | 2.26 | 2.01 | -11 % |
| Cash flow from operating activities |
11.4 | 12.2 | 7 % | 7.3 | 13.2 | 81 % |
| Cash flow from investing activities |
-7.3 | -6.3 | -14 % | -4.8 | -3.2 | -33 % |
| Free Cash flow | 4.1 | 5.9 | 44 % | 2.5 | 10 | 300 % |
| in € m* | 12/31/2016 12/31/2017 06/30/18 | Changes to previous year |
||
|---|---|---|---|---|
| Total assets | 90.4 | 117.7 | 124.5 | 6 % |
| Long-term assets | 43.9 | 45.9 | 47.2 | 3 % |
| Equity | 50.0 | 65.6 | 73.8 | 13 % |
| Liabilities | 40.4 | 52.1 | 50.7 | -3 % |
| Equity ratio | 55.3 % | 55.7 % | 59.3 % | 4 Pp. |
| Net cash | 8.8 | 25.0 | 23.0 | -8 % |
| Working Capital | 18.6 | 19.8 | 27.6 | 40 % |
| Number of employees for the fiscal year (full time equivalents) |
457 | 504 | 570 | 13 % |
| Share price (XETRA) in € |
60.37 | 195.05 | 165.60 | -15 % |
| Number of shares in circulation |
3,215,247 | 3,211,136 3,211,136 | 0 % | |
| Market capitalization |
194.1 | 626.3 | 531.8 | -15 % |
| *unless otherwise stated |
¼ Incoming orders: Euro 79.8 million (previous year: Euro 100.4 million, -21 %)
¼ EBITDA: Euro 24.4 million (previous year: Euro 23.0 million, +6 %)
¼ Operating cash flow: Euro 12.2 million (previous year: Euro 11.4 million, +7 %)
| ¼ Incoming orders: Euro 79.8 million (previous year: Euro 100.4 million, -21 %) |
|---|
| ¼ Sales: Euro 83.4 million (previous year: Euro 78.5 million, +6 %) |
| ¼ EBITDA: Euro 24.4 million (previous year: Euro 23.0 million, +6 %) |
| ¼ EBT: Euro 19.2 million (previous year: Euro 18.2 million, +5 %) |
| ¼ EAT: Euro 14.6 million (previous year: Euro 13.0 million, +12 %) |
| ¼ Cash flow from investing activities: Euro -6.3 million (previous year: -7.3 million, -14 %) |
| ¼ Free cash flow: Euro 5.9 million (previous year: Euro 4.1 million, +44 %) |
| Dear Ladies and Gentlemen, |
¼ Free cash flow: Euro 5.9 million (previous year: Euro 4.1 million, +44 %)
Following a year of record-breaking sales results in 2017, Basler AG celebrated its 30th anniversary in the first half year of 2018. Founded as system integrator for image processing solutions in a technology center in Lübeck, Basler started to develop and market industrial cameras at the end of the 1990s. Due to the continuously strong growth, since 2008, Basler fully focused on the camera business where it has become the leading global manufacturer. Currently, Basler AG is in its next strategic process transforming from a manufacturer of industrial cameras to a fullrange supplier of computer vision components. For implementing this strategy, the former purely organic growth is now accompanied by acquisitions. After the acquisition of the embedded computing specialist mycable GmbH in June 2017, two further transactions were concluded in July 2018 by founding a joint venture in China and acquiring the Silicon Software GmbH. These two transactions will be explained in more detail later in this report.
In a market that has been more quiet compared to the previous year, the company has developed positively according to plan in the first 6 months of 2018. A sales growth of 6 % has led to a further improvement of the market position and also to a high profitability.
As expected, last year's strong demand for capital goods for the electronic industry initiated by an extraordinary investment cycle of manufacturers of mobile devices as smart phones and tablets did not repeat. Compared to the same period of last year, the manufacturers of mobile devices invested considerably less in new product generations. At the same time, productivity of the last year's installed production machines increased additionally reducing the requirement for
On the exhibition Embedded World in Nuremberg in early 2018 Basler presented a unique and brand-new product concept: the dart camera module with BCON for MIPI interface. This camera module can be combined with selected embedded processors from Qualcomm® and offers a basis for small, powerful and at the same time low-priced image processing solutions. Furthermore, a distribution-cooperation for embedded vision products was signed with Arrow Electronics – one of the leading global distributors for electronic components - in order to open up newly emerging applications in embedded vision in the best possible way.
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. The sales growth objectives in the one-digit percentage range were reached. Profitability in the first 6 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. The management has a positive outlook on the coming months of the fiscal year and confirms the present forecast. According to current knowledge and considering the proportionate sales revenues resulting from the acquisition of the Silicon Software GmbH, the group's sales for 2018 will be in a corridor of Euro 145 – 160 million at a pre-tax margin of 13 – 15 %. In the second half year, Silicon Software is expected to contribute about Euro 5 million to the group's sales. Based on these positive results and the high profitability, the management will continue to go ahead with the recruiting program in the coming months in order to implement the company strategy and to make use of future growth opportunities.
Compared to the previous year, sales increased by 6 % to Euro 83.4 million (previous year: Euro 78.5 million). Due to the reasons mentioned above, incoming orders decreased by 21 % to Euro 79.8 million (previous year: Euro 100.4 million). Considering the special effects of the past year it is on plan.
capacity expansions. However, in other segments of the fabric automation market as well as in medicine and logistics the market growth continued unabatedly enabling to more than compensate the declines in demand from the electronic industry by other business.
After Basler AG worked very hard in the past months on considerably expanding its production capacity compared to the previous year and significantly reduce the order lead times, these measures were successfully completed in the first half year allowing to meet peaks in demand as last year without significant increases of the usually short delivery times. Due to these progresses in our delivery liability, customers did not place their orders earlier as in the previous year (in 2017, due to the boom in the electronic industry, approximately 40 % of the 2017 incoming orders were placed in the first quarter, or, approximately two thirds were placed in the first two quarters, respectively). Due to this normalized order behavior of the customers, incoming orders of the first two quarters decreased by 21 % to approximately Euro 80 million, and are thus on the level planned at the beginning of the year.
As of the end of June 2018 the Verband Deutscher Maschinen– und Anlagenbau (VDMA) reported for 2018 a decline in sales of 2 % for German manufacturers of image processing components. According to VDMA the incoming orders of the sector will reduce by 14 % – due to similar reasons at Basler.
Compared to the market for image processing components, the Basler group achieved an increase in sales of 6 % in the first 6 months of 2018 and was therefore able to gain more market shares.
In the first half year, the portfolio of the successful camera series ace was extended with various models. The new models with low to mid-resolution are all based on new CMOS image sensors of the Sony Pregius series and will replace medium-term older camera models with discontinued Sony CCD sensors. In the course of this transition from CCD sensors to CMOS image sensors, Basler recently presented a new ace camera model enabling the customer for the first time to reproduce the optical characteristics of a CCD image sensor with a CMOS sensor with a patented algorithm. With this new technology, the customer can use the new Basler camera replacing the discontinued model without changing the existing optical setup or the existing image evaluation software. The customer benefits from lower development costs as well as a shorter time-to-market due to this patented process. In the future, this process will also be used for further new cameras replacing predecessor models based on CCD image sensors.
Additionally, Basler has launched a camera series especially for Medical & Life Sciences in the first half-year. Basler MED ace series offers a powerful CMOS sensor technology with up to 164 frames per second and 20-megapixel resolution. 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 conformity to the internationally acknowledged quality standard of the medical industry to the customers.
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 19.2 million (previous year: Euro 18.2 million, 5 %). Thus, the pre-tax return rate of about 23 % was far
above the forecast of 13 - 15 %.
For the last six quarters (in € million)
For the last six quarters (in € million)
Sales Order entry
** Mycable included since January 2018
34
Despite idle costs in the production due to expanded capacities and a non-optimal utilization rate, the gross profit margin developed slightly positively. It amounted to 50.6 % (previous year: 50.3 %). The reason for this was in particular the product mix as well as a lower share in total sales of price sensitive major projects. Compared to the previous year, also in absolute terms the gross result increased by Euro 2.7 million
to Euro 42.2 million (previous year: Euro 39.5 million).
+5 %
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.
MVLZ has been Basler's distribution partner in China for close to twenty years. The company distributes image processing components of all sorts and consults its customers using these components in machine vision and scientific imaging. Both companies agree to transfer the Machine Vision division to the newly established Beijing-based Basler China with branch offices in Shenzhen and Shanghai. The transfer includes approximately one hundred qualified employees, necessary office and business equipment as well as inventories. The transfer will be fully completed by January 1, 2019.
Within a capital increase, Beijing Sanbao Xingye (MVLZ) Image Tech. Co. Ltd. obtains minority shares in Basler Vision Technology (Beijing) Co., Ltd, which will successively be repurchased by Basler AG by the end of 2021. The parties have agreed not to disclose the acquisition price. The management of the joint venture will be staffed by employees of both companies.
With this transaction, Basler AG pursues to further expand its today's strong market position in China, the biggest and fastest growing national market for computer vision. The future direct market presence in China enables Basler to increase its competitiveness versus international and domestic competitors, to streamline its supply chain, and to increase agility in the fastest-growing regional market.
For many years, MVLZ and Basler have been working together in the Chinese market on a trustful and successful basis. This joint venture is to further strengthen this constellation.
Furthermore, on July 19, 2018, Basler acquired with immediate effect 100 % of the shares of Silicon Software GmbH based in Mannheim. Silicon Software is one of the leading global manufacturer of frame grabbers and software for the graphic programming of vision processors. With more than 50 employees, the company manufactures and distributes standard products as well as customized OEM solutions for image processing applications in the fabric automation and medicine sector. In 2017, sales amounted to Euro 8.6 million. Silicon Software's product range supplements the Basler product portfolio and will considerably support the company in implementing its expansion strategy towards the performance segment of the computer vision market in the upcoming years.
Basler has concluded a share purchase and transfer agreement with the two founders and managing directors of Silicon Software GmbH, Dr. Klaus-Henning Noffz and Dr. Ralf Lay. The parties have agreed not to disclose information on the purchase price of which 80 % will be paid in cash and 20 % will be paid in Basler shares. It divides into a base purchase price (on signing) and an earn-out component (until end of 2020). Dr. Noffz and Dr. Lay will continue to work for Silicon Software GmbH and Basler AG in the future
This second transaction enables Basler AG to further expand its product portfolio for computer vision applications. The strategic aim is to offer to OEM customers comprehensive and easy solutions for acquiring images. Considering next generation image sensors and the accompanying data rates, easy to use high quality frame grabbers are of increasing importance. In the future, Basler can offer its customers solutions from one source by combining Basler cameras with intelligent frame grabbers
The period surplus amounted to Euro 14.6 million exceeding the previous year's value of Euro 13.0 million by 12 %. Thus, the result per share (diluted/undiluted) was Euro 4.53 (previous year: Euro 4.03).
The balance sheet total developed in particular as a result of increases in inventories and receivables in proportion to sales to Euro 124.5 million (12/31/2017: Euro 117.7 million). Equity was Euro 73.8 million (12/31/2017: Euro 65.6 million), thus the equity ratio was 59.3 % on June 30, 2018 compared to 55.7 % on December 31,2017.
The operating cash flow amounted to Euro 12.2 million (previous year: Euro 11.4 million). Decrease in receivables in the second quarter has had a positive influence. The cash flow from investing activities amounted to Euro -6.3 million (previous year: Euro -7.3 million). Free cash flow reached a level of Euro 5.9 million (previous year: Euro 4.1 million).
Since the beginning of the year, liquid assets remained unchanged despite dividend payment of around Euro 6.5 million in the second quarter. On the last day of the reporting period bank deposits were Euro 36.3 million (12/31/2017: Euro 36.0 million). Net cash position amounted to Euro 22.9 million (12/31/2017: Euro 25.4 million).
For the last six Quarters (in € million)
FCF OCF ICF
* Mycable included since June 2017
04/04/2018
Keyfact
Keyfact
BASLER (Xetra) vs. TecDax 2017/01/01-2018/06/29
The share capital of Basler AG remained unchanged at Euro 3.5 million at the end of the quarter on June 30, 2018 divided into 3.5 million of no-par-value bearer shares.
The second quarter hasn't seen a change in the shareholder structure, which showed
on June 30, 2018 as follows:
from Silicon Software, allowing an "on board" pre-processing and interpretation of image data that opens up cost reduction potential to OEM customers. Additionally, the graphic programming of the vision processors included in the "visual applets" software from Silicon Software supports OEM customers to considerably reduce their time-to-market and their development costs.
For the remaining months of the current fiscal year 2018, Basler expects an additional sales contribution of about Euro 5 million and an EBT margin by Silicon Software of about 14 %.
On reporting date June 30, 2018, Basler employed 570 (previous year: 500) employees (full-time equivalents). The increase is mainly due to the future growth plan of the company. In the first half year, this increase went slower than planned.
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. In the third quarter of 2018 the annual risk inventory will be performed.
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 June 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, 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.
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
| 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 | 1,000 |
Basler AG's annual general meeting took place on May, 7, 2018 in Hamburg.
The presentation of the Annual General Meeting, the voting results, the dividend announcement and all other information relating to this topic can be found on the company's website www.baslerweb.com/de/unternehmen/investoren/ hauptversammlung/2018
Pursuant to Section 1 (1) no. 1 sentence 1 DrittbG, employees of a stock corporation have a right of participation in the supervisory board if the company generally employs more than 500 employees. The company has exceeded the threshold at the beginning of the year and the employees have therefore elected Mrs. Dorothea Brandes and Dr. Marco Grimm as employee representative to the supervisory board on February 28, 2018. The term of office of both representatives began on the day of the Annual General Meeting on May 7, 2018.
The management board and the supervisory board of Basler AG decided on April 21, 2016, to buy back additional own shares. In February 2017, the company ultimately bought back non-par bearer shares on the capital market and currently holds 8.3 % (288,864 pieces) own shares.
In the course of the purchase of Silicon Software GmbH after the reporting date June 30, 2018 the stock of owns shares is 273.340 pieces for end of July 2018.
More detailed information relating to the share buyback program of the Basler AG can be found in the annual report 2017 and on the company's website.
Group´s annual balance sheet according to IFRS for the fiscal year from January 1, 2018 to June 30, 2018
| in € k | 01/01/ - 06/30/2017 |
01/01/ - 06/30/2018 |
04/01/ - 06/30/2017 |
04/01/ - 06/30/2018 |
|---|---|---|---|---|
| Sales revenues | 78,509 | 83,378 | 42,193 | 38,446 |
| Currency earnings | -10 | -143 | 85 | 35 |
| Cost of sales | -39,000 | -41,026 | -20,715 | -18,952 |
| - of which depreciations on capitalized | ||||
| developments | -2,681 | -3,271 | -1,382 | -1,509 |
| Gross profit on sales | 39,499 | 42,209 | 21,563 | 19,529 |
| Other operating income | 256 | 178 | 153 | 92 |
| Sales and marketing costs | -9,643 | -10,747 | -4,944 | -5,416 |
| General administration costs | -6,670 | -6,135 | -3,481 | -2,798 |
| Research and development | -4,661 | -5,629 | -2,582 | -2,646 |
| Other expenses | -258 | -554 | -228 | -236 |
| Operating result | 18,523 | 19,322 | 10,481 | 8,525 |
| Financial income | 142 | 89 | 50 | 41 |
| Financial expenses | -481 | -184 | -232 | -94 |
| Financial result | -339 | -95 | -182 | -53 |
| Earnings before tax | 18,184 | 19,227 | 10,299 | 8,472 |
| Income tax | -5,187 | -4,675 | -3,039 | -2,015 |
| Group´s period surplus | 12,997 | 14,552 | 7,260 | 6,457 |
| of which are allocated to | ||||
| shareholders of the parent company | 12,997 | 14,552 | 7,260 | 6,457 |
| non-controlling shareholders | 0 | 0 | 0 | 0 |
| Average number of shares | 3,223,304 | 3,211,136 | 3,206,209 | 3,211,136 |
| Earnings per share diluted / undiluted (€) | 4.03 | 4.53 | 2.26 | 2.01 |
Group´s annual balance sheet according to IFRS for the fiscal year from January 1, 2018 to March 31, 2018
| in € k | 01/01/ - 06/30/2017 |
01/01/ - 06/30/2018 |
|---|---|---|
| Group's period surplus | 12,997 | 14,552 |
| Result from differences due to currency conversion, directly recorded in equity |
-237 | 133 |
| Surplus/ Net loss from cash flow hedges | 0 | 0 |
| Total result, through profit or loss | -237 | 133 |
| Total result | 12,760 | 14,685 |
| of which are allocated to | ||
| shareholders of the parent company | 12,760 | 14,685 |
| non-controlling shareholders | 0 | 0 |
Group´s annual balance sheet according to IFRS for the fiscal year from January 1, 2018 to June 30, 2018
| in € k | 01/01/ - 06/30/2017 |
01/01/ - 06/30/2018 |
04/01/ - 06/30/2017 |
04/01/ - 06/30/2018 |
|---|---|---|---|---|
| Operating activities | ||||
| Group's period surplus | 12,997 | 14,552 | 7,260 | 6,457 |
| Increase (+) / decrease (-) in deferred taxes | 1,847 | 209 | 665 | 308 |
| Payout/ incoming payments for interest | 576 | 229 | 291 | 127 |
| Depreciation of fixed assets | 4,315 | 5,067 | 2,317 | 2,356 |
| Change in capital resources without affecting payment | -237 | 133 | -230 | 205 |
| Increase (+) / decrease (-) in accruals | 4,490 | 1,424 | 3,047 | 261 |
| Profit (-) / loss (+) from asset disposals | -6 | 0 | -6 | 0 |
| Increase (-) / decrease (+) in reserves | -1,865 | -835 | -426 | -606 |
| Increase (+) / decrease (-) in advances from demand | -1 | -1,710 | -265 | -243 |
| Increase (-) / decrease (+) in accounts receivable | -13,210 | -4,480 | -5,983 | 7,047 |
| Increase (-) / decrease (+) in other assets | -361 | 52 | 309 | -129 |
| Increase (+) / decrease (-) in accounts payable | 3,152 | -855 | 770 | -1,565 |
| Increase (+) / decrease (-) in other liabilities | -256 | -1,632 | -476 | -983 |
| Net cash provided by operating activities | 11,441 | 12,154 | 7,273 | 13,235 |
| Investing activities | ||||
| Payout for investments in fixed assets | -7,343 | -6,311 | -4,854 | -3,206 |
| Incoming payments for asset disposals | 16 | 19 | 15 | 0 |
| Net cash provided by investing activities | -7.327 | -6.292 | -4.839 | -3.206 |
| Financing activities | ||||
| Payout for amortisation of bank loans | -244 | -434 | -122 | -278 |
| Payout for amortisation of finance lease | -792 | -1.111 | -398 | -555 |
| Incoming payment for borrowings from banks | 1.200 | 2.700 | 1.200 | 2.700 |
| Interest payout | -576 | -229 | -291 | -127 |
| Incoming payment for sale of own shares | 0 | 0 | 0 | 0 |
| Payout for own shares | 173 | 0 | 830 | 0 |
| Dividends paid | -2.371 | -6.487 | -2.371 | -6.487 |
| Net cash provided by financing activities | -2,610 | -5,561 | -1,152 | -4,747 |
| Change in liquid funds | 1,504 | 301 | 1,282 | 5,282 |
| Funds at the beginning of the fiscal period | 19,437 | 36,025 | 19,659 | 31,044 |
| Funds at the end of the fiscal period | 20,941 | 36,326 | 20,941 | 36,326 |
| Composition of liquid funds at the end of the fiscal period |
||||
| Cash in bank and cash in hand | 20,941 | 36,326 | 20,941 | 36,326 |
| Payout for taxes | 766 | 2,416 | 549 | 1,364 |
17 18
| 3,211 | 3,211 |
|---|---|
| 3,119 | 3,119 |
| 59,028 | 67,093 |
| 272 | 405 |
| 65,630 | 73,828 |
| 9,912 | 12,056 |
| 542 | 100 |
| 10,258 | 10,257 |
| 1,406 | 1,406 |
| 5,525 | 5,770 |
| 27,643 | 29,589 |
| 1,590 | 1,923 |
| 3,802 | 4,042 |
| 10,107 | 9,252 |
| 4,776 | 1,666 |
| 2,224 | 1,112 |
| 1,948 | 3,132 |
| 24,447 | 21,127 |
| 117,720 | 124,544 |
| in € k | 12/31/2017 06/30/2018 | in € k | 12/31/2017 06/30/2018 | ||
|---|---|---|---|---|---|
| Assets | Liabilities | ||||
| A. Long-term assets | A. Equity | ||||
| I. Intangible assets | 21,476 | 21,383 | I. Subscribed capital | 3,211 | 3,211 |
| II. Fixed assets | 8,784 | 10,359 | II. Capital reserves | 3,119 | 3,119 |
| III. Buildings and land in finance lease | 12,481 | 12,226 | III. Retained earnings including group's earnings | 59,028 | 67,093 |
| IV. Goodwill | 3,139 | 3,139 | IV. Other components of equity | 272 | 405 |
| V. Other financial assets | 5 | 5 | 65,630 | 73,828 | |
| VI. Deferred tax assets | 39 | 74 | B. Long-term debt | ||
| 45,924 | 47,186 | I. Long-term liabilities | |||
| B. Short-term assets | 1. Long-term liabilities to banks | 9,912 | 12,056 | ||
| I. Inventories | 20,829 | 21,664 | 2. Other financial liabilities | 542 | 100 |
| II. Receivables from deliveries and services and from | 3. Liabilities from finance lease | 10,258 | 10,257 | ||
| production orders | 11,066 | 15,545 | II. Non-current provisions | 1,406 | 1,406 |
| III. Other short-term financial assets | 1,666 | 1,844 | III. Deferred tax liabilities 5,525 |
5,770 | |
| IV. Other short-term assets | 1,040 | 1,045 | 27,643 | 29,589 | |
| V. Claim for tax refunds | 1,170 | 934 | C. Short-term debt | ||
| VI. Cash in bank and cash in hand | 36,025 | 36,326 | I. Other financial liabilities | 1,590 | 1,923 |
| 71,796 | 77,358 | II. Short-term accrual liabilities | 3,802 | 4,042 | |
| 117,720 | 124,544 | III. Short-term other liabilities |
Group´s annual balance sheet according to IFRS for the fiscal year from January 1, 2018 to June 30, 2018
Group´s annual balance sheet according to IFRS for the fiscal year from January 1, 2018 to June 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 | 12,997 | -237 | -237 12,760 | ||||
| Share salesback | 0 | 0 | |||||
| Share buyback | -4 | 177 | 173 | ||||
| Dividend outpayment* | -2,371 | -2,371 | |||||
| Shareholders´equity as of 06/30/2017 |
3,211 | 2,443 | 54,451 | 473 | 0 | 473 60,578 | |
| Total result | 676 | 4,577 | -201 | -201 | 5,052 | ||
| Share salesback | 0 | 0 | |||||
| Share buyback | 0 | 0 | 0 | ||||
| Shareholders´equity as of 12/31/2017 |
3,211 | 3,119 | 59,028 | 272 | 0 | 272 65,630 | |
| Total result | 14.552 | 133 | 0 | 133 14.685 | |||
| Share salesback | 0 | 0 | |||||
| Share buyback | 0 | 0 | 0 | ||||
| Dividend outpayment** | -6,487 | -6,487 | |||||
| Shareholders´ equity as of 06/30/2018 |
3,211 | 3,119 | 67,093 | 405 | 0 | 405 73,828 |
* 0,74 € per share
** 2,02 € per share
| Date | Event | Venue |
|---|---|---|
| 11/05/2018 | Publication 9-month report 2018 | Ahrensburg, Germany |
| Deutsches Eigenkapitalforum 2018 | Frankfurt am Main, | |
| 11/26 - 28/2018 | (Germany equity forum) | 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]
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