Basler AG

Earnings Release • Nov 15, 2001

News Details

Ad-hoc | 15 November 2001 07:13

Basler AG english

Basler AG with difficult third quarter Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Basler with difficult third quarter – Non-cash effective and non-recurrent effects characterize the result in the third quarter – Cost cutting measures intensified Ahrensburg 15/11/2001 – Basler AG is on consolidation course. With sales of Euro 6.8 mio in Q3, the first cost cutting measures have shown effect and they are further intensified. The total operating expenses could be reduced further by 10% to Euro 5.4 mio without taking into account the special effects. The result in Q3 was characterized by two special effects: On the one hand, inventory reductions and adjustments of the goods on hand needed to be made due to the sales situation. The required depreciation amounts to Euro 3.9 mio. Considering this non-recurrent effect, the EBIT in Q3 total Euro -5.9 mio. On the other hand, the current valuation of the Photobit Corporation in which Basler AG holds 14.7% developed accordingly to the Semiconductor-Industry. This results in a non-recurrent devaluation amounting to Euro 7.6 mio. The original book value of the participation was Euro 14.9 mio. The devaluation to the going value was made for September. The managing board strengthened by the new Chief Operations Officer Axel Dancker and the new Chief Financial Officer Peter Krumhoff will target the turnaround in fiscal 2002 with further measures for cost reductions and strengthed sales activities The figures at a glance: Mio. Euro Q3/2001 – Q3/2000 – Q1-3/2001 – Q1-3/2000 Sales 6,78 / 10,12 / 21,38 / 32,40 EBIT -5,94 / -1,02 / -9,53 / -0,09 Net Loss -13,67 / -1,39 / -17,47 / -0,10 Result per share (in Euro) -3,90 / -0,40 / -5,00 / 0,00 Incoming orders 4,1 / 7,93 / 19,04 / 32,31 Employees at reporting day 277 / 308 / 277 / 308 end of ad-hoc-announcement (c)DGAP 15.11.2001 ——————————————————————————– WKN: 510 200; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München und Stuttgart 150713 Nov 01