Quarterly Report • May 6, 2021
Quarterly Report
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After the strong increase in demand already at the end of 2020, we started the new fiscal year 2021 with a relatively strong order backlog. In the first quarter, this momentum strengthened and we were able to increase incoming orders, sales and earnings at high growth rates, thus laying a very good foundation for the current fiscal year.
Despite ongoing challenges due to corona and an extremely tight situation in the supply markets for semiconductor and electronics, we were fully operational and the production quantity was increased by 43 % compared to the previous year. The very strong demand together with bottlenecks in the material supply, however, led to an extension of our delivery times and a further increase of the order backlog. We would like to take this opportunity to thank our customers for their patience and trust. We will continue to manage our supply chain with highest priority in order to successfully master the challenging situation in the supply markets.
Beyond the operational challenges, we made considerable progress in our strategic organizational and product development projects, further contributing to our long-term growth plans. In addition, a new organizational structure was implemented on April 1 to provide even better support for the implementation of our corporate strategy.
Thanks in particular to our strong position in Asia, we were able to benefit from the current upswing in the best possible way and clearly better than the industry, thus further expanding our market shares. The two-digit increase in sales led to considerable economies of scale within the group. As a result, we increased our net result by more than 60 % compared to the previous year. At 18 %, the pre-tax return rate was well above our long-term target of approximately 12 %.
The signs for a positive global economic development in 2021 are good and we expect the strong demand cycle from the semiconductor and electronics sectors in particular to continue in the coming months. We continue to expect the demand for image processing components from the general engineering and automotive sectors to improve gradually over the course of the year. We also expect the situation on the procurement markets to deteriorate further in the coming months and not to ease until the end of the year.
The successful start to the year and the outlook for the coming quarters motivate us to continue scaling the global organization and, with great passion and powerful investments, to shape the future of Basler and our transformation from a camera maker to a full-range provider.
With this compact 3-month report, we would like to give you a deeper insight into the development of the fiscal year so far and hope you enjoy reading it:
| in € m* | QI 2021 | QI 2020 | Changes to previous year |
in € m* | 03/31/2021 | 12/31/2020 | Changes to previous year |
|---|---|---|---|---|---|---|---|
| Sales revenues | 54.6 | 43.7 | 25 % | Total assets | 202.0 | 190.1 | 6 % |
| Incoming orders | 67.3 | 52.9 | 27 % | Long-term assets | 94.4 | 95.0 | -1 % |
| Equity | 123.6 | 114.9 | 8 % | ||||
| Gross results | 29.8 | 23.0 | 30 % | Liabilities | 78.4 | 75.2 | 4 % |
| Gross profit margin | 54.6 % | 52.6 % | 2,0 Pp, | Equity ratio | 61.2 % | 60.4 % | 0,8 Pp, |
| Full costs for research and development |
7.0 | 6.2 | 13 % | Net cash | 23.0 | 23.0 | 0 % |
| Working Capital | 36.6 | 27.3 | 34 % | ||||
| Research and development ratio |
12.8 % | 14.2 % | -1,4 Pp, | Number of employees for the period (full time equivalents) |
825 | 808 | 2 % |
| EBITDA | 14.7 | 9.5 | 55 % | Share price (XETRA) in € | 98.20 | 72.00 | 36 % |
| EBIT | 10.1 | 6.4 | 58 % | Number of shares in | |||
| EBT | 9.9 | 6.3 | 57 % | circulation | 10,006,164 | 10,005,264 | <1 % |
| EBT Margin | 18.1 % | 14.4 % | 3,7 Pp, | Market capitalization | 982.6 | 720.4 | 36 % |
| Net income | 7.8 | 4.7 | 66 % | *unless otherwise stated | |||
| Weighted average number of | |||||||
| shares | 10,004,554 | 10,007,127 | 0 % | ||||
| Result per share (€) | 0.78 | 0.47 | 66 % | ||||
| Cash flow from operating activities |
4.7 | 2.0 | <+100 % | ||||
| Cash flow from investing activities |
-3.6 | -3.9 | -7 % | ||||
| Free Cash flow | 1.0 | -1.9 | n.a. |
*unless otherwise stated
The group closed the first three months with very positive results, which were above expectations. Compared to the same period of the previous year, sales increased by 25 % and incoming orders by 27 %. The recovery in the capital goods markets for semiconductors and electronics continued in the first quarter. Demand from the general machinery and plant engineering sector and from the automotive industry remained weak, even though there were slight signs of recovery towards the end of the quarter.
Fundamentally, these market trends are also confirmed by the orders and sales of the German machine vision components industry. However, according to the German Engineering Federation (VDMA), these were only slightly positive in the first three months compared to the previous year, thus Basler gained further market shares. As of the end of March 2021, the German Engineering Federation (VDMA) reported a growth in sales of 5 % for German manufacturers of machine vision components for the year 2021. According to the VDMA, incoming orders in the industry increased by 15 % in the same period.
The Basler group is also affected by the global shortage of semiconductor components. So far, the company has been able to successfully manage this through its market position, long-term supplier relationships and professional supply chain management, ensuring a supply of materials for a high volume production level. However, the situation on the procurement markets for semiconductor and electronic components is very tense and is not expected to improve until the end of the fiscal year.
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All activities related to the development and launch of new products were running at high intensity during the first three months. In total, € 7.0 million were spent for development (previous year: € 6.2 million). In the area of market communications, there was again a stronger focus on online activities in order to reach customers during the Corona pandemic.
Mid January, Basler announced the expansion of the boost camera series with CoaXPress 2.0 (CXP 2.0) interface and launched six new high-resolution models based on this technology. Thanks to their CXP 2.0 interface, Basler boost cameras are perfectly suitable for applications with image transmission distances of up to 40 metres, requiring high data rates and resolutions. These can be – for example – applications in the semiconductor industry, photovoltaics, display inspection, the printing and packaging industry, and in medical technology.
Furthermore, a new processing kit was introduced on the embedded world 2021 DIGITAL rethinking embedded vision show. The board developed by Basler is optimized for a variety of vision applications – both from a hardware and software point of view. Due to its design developed for an industrial use, the development kit can not only be used for prototyping but also in series production. Using this embedded processing kit, developers can reach a workable vision solution in a very fast way. Moreover, the new cooperation activities with Amazon Web Services were presented at the fair, aiming to provide customers with embedded vision systems with cloud connectivity and Algorithms.
Within the transformation from a camera maker to a full-range provider the range of accessories – cables, lenses and lights – has been continuously expanded. Additional web tools were also made available to the customer for the targeted selection of image processing components.
The Basler group closed the first three months of the financial year 2021 very successfully and above expectations starting into the second quarter 2021 with a positive ratio between incoming orders and sales.
According to current information, the positive demand trend for image processing components in the application areas for semiconductor and electronics as well as in logistics will continue in the second quarter and is expected to weaken in the second half of the year due to seasonal factors. The management also expects the demand for image processing components in other automation fields to pick up again in the course of the year, with demand from the medical sector also gradually increasing.
Due to the strong business development in the first quarter and the ongoing strong incoming orders in the month of April, the company increases its forecast for 2021 and henceforth expects group sales of € 205 - 225 million at a pre-tax result of 13 - 15,5 %. This forecast corridor reflects the strong momentum on the sales markets and the risks on the procurement markets described above.
The management is positive about the future and maintains its medium-term planning to reach sales of approximately € 250 million in 2023.
Compared to the same period of 2020, sales increased by 25 % to € 54.6 million (previous year: € 43.7 million). Incoming orders increased by 27 % to € 67.3 million (previous year: € 52.9 million). The geographical distribution of sales is heavily weighted towards Asia at 56 %. The relatively strong demand from the semiconductor and electronics sector as well as the fast recovery of China after the Corona lockdown additionally affected the Asia portion positively. 27 % of sales came from the EMEA region and 17 % from the Americas.
For the last five quarters (in € million)
Sales Order entry
Development of gross margin
Gross Margin %
Gross Profit Margin in € million
The gross profit margin significantly improved in the first quarter to 54.6 % (previous year: 52.6 %). Due to high utilization, production had lower overhead costs per unit. In addition, very good results were achieved in reducing material costs. Overall, any price declines on the markets were more than compensated for.
For the last five quarters
Compared to the previous year, earnings before taxes significantly increased by € 3.6 million to € 9.9 million (previous year: € 6.3 million) due to economies of scale. In addition to the considerable increase of the gross profit, lower material cost expenses due to the Corona pandemic led to the very strong increase in earnings, albeit with much less impact.
The period surplus amounted to € 7.8 million and thus was 66 % over the previous year's figure of € 4.7 million. The result per share (diluted/undiluted) amounted to € 0.78 (previous year: € 0.47).
Where as the long-term assets remained on the level of December 31, 2020, the short-term assets increased by approximately € 12.5 million. This is mainly due to the considerable increase of trade accounts receivable because of the high level of sales. Furthermore, inventories slightly increased. Because of the order situation, trade accounts payable increased also.
Equity amounted to € 123.6 million (December 31, 2020: € 114.9 million). The equity ratio increased to 61.2 % on March 31, 2021, compared to 60.4 % on December 31, 2020.
The operating cash flow amounted to € 4.7 million (previous year: € 2.0 million). Compared to the same period of 2020, this increase is mainly due to the earnings after taxes which increased by € 3.1 million. The operating cash flow was burdened by working capital effects, particularly by the increase of raw materials and supplies. The cash flow from investing activities amounted to € -3.6 million (previous year: € -3.9 million).
Liquid assets slightly decreased from € 47.9 million (December 31, 2020) to € 47.0 million. The net operating liquidity after deduction of all bank liabilities amounted to € 23 million (previous year: € 13 million). The high liquidity ensures the financial stability of the company and is the basis for a powerful growth strategy
For the last five quarters (in € million)
At the reporting date of March 31, 2021, the Basler group employed 825 (December 31, 2020: 813) employees (full-time equivalents).
On April 19, 2021, the merger of the wholly owned subsidiary Silicon Software GmbH, Mannheim, into the Basler AG, Ahrensburg, was entered in the commercial registers. As a result, Silicon Software GmbH is no longer an independent enterprise, but has been fully absorbed into Basler AG. The operational integration of the employees and processes has already been completed in 2020.
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, 2020. Existing risks are continuously monitored and countermeasures are initiated. The regular risk inventory will take place in the third quarter of 2021.
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 financial statements as at March 31, 2021 are unaudited and have not been reviewed by an auditor. In principle, the same accounting and valuation methods are applied in the interim financial statements as in the consolidated financial statements as at December 31, 2020.
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. The statements on IFRS 9 made in the consolidated financial statements as at December 31, 2020 have not changed in the first quarter of the current financial year due to the Corona pandemic. To date, the Basler group has not been able to identify any changes in the payment behaviour of customers that would have led to a different valuation of trade receivables. There were no findings that would have led to a revaluation of the lease accounting in accordance with IFRS 16 as at the reporting date.
The share capital of Basler AG amounted to € 10.5 million at the end of the quarter on March 31, 2020, divided into 10.5 million no-par-value bearer shares at € 1.00 each.
| 03/31/2021 Number of shares in pieces |
12/31/2020 Number of shares in pieces |
|
|---|---|---|
| Supervisory Board | ||
| Norbert Basler | - | - |
| Dorothea Brandes | - | - |
| Horst W. Garbrecht | - | - |
| Dr. Marco Grimm | - | - |
| Prof. Dr. Eckart Kottkamp | - | - |
| Prof. Dr. Mirja Steinkamp | - | - |
| Management Board | ||
| Arndt Bake | 2,075 | 1,850 |
| Dr. Dietmar Ley | 379,206 | 378,882 |
| Hardy Mehl | 5,901 | 5,550 |
| Alexander Temme | 0 | 0 |
With the approval of the supervisory board, on December 9, 2020, the management board of Basler AG decided to terminate the share buyback program initially re-started in 2020 on March 11, 2020, and dormant at that time, and to launch a new share buyback program on the basis of the annual general meeting's resolution of May 26, 2020. The new share buyback program has a total volume of up to € 10 million and a term until May 25, 2020.
The basis for the share buyback program is the authorisation pursuant to § 71 para. 1 no. 8 of the German Stock Corporation Act (AktG) in accordance with the resolution of the Annual General Meeting of May 26, 2020, on agenda item 8 of this Annual General Meeting. According to this, the company may acquire treasury shares in the total amount of up to € 1,050,000.00 divided into 1,050,000 shares on the basis of the currently registered share capital. The authorisation is valid until the end of May 25, 2025.
While the company may in principle use the shares for all legally permissible purposes in accordance with the authorisation, this share buyback program is intended in particular to serve the acquisition of treasury shares for subsequent use as acquisition funds.
The share buyback program will be implemented as a programmed buyback program within the meaning of Art. 1 lit. a of Regulation (EU) 2016/1052. The program will be carried out under the leadership of Oddo BHF. The bank shall be instructed, at its own discretion but within the framework of the following provisions, to purchase from the respective daily turnover not more than 25 % of the average daily trading volume of the 20 trading days on the respective trading venue prior to the purchase date. The purchase price per share (excluding ancillary purchase costs) may not exceed or fall short of the stock exchange price of Basler AG in XETRA trading (or a comparable successor system) on the Frankfurt Stock Exchange determined by the opening auction on the trading day by more than 10 %.
The extent to which own shares are actually acquired will depend in particular on market conditions. The acquisition will be made via the stock exchange in compliance with the provisions of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse ("Market Abuse Regulation") and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 adopted on the basis of Article 5(6) of the Market Abuse Regulation. March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regulatory technical standards on the conditions applicable to buy-back programs and stabilization measures ("Delegated Regulation") and the volume limits and further acquisition restrictions and publication requirements provided for therein. The Company has the right to suspend or prematurely terminate the share buyback program at any time.
The company did not acquire any shares during the reporting period and holds 493,836 treasury shares or 4.7 % on March 31, 2021.
The company transferred a total of 900 treasury shares to Dietmar Ley, Arndt Bake and Hardy Mehl at the end of March 2021 as part of the variable management board remuneration for 2020.
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 Arndt Bake Hardy Mehl Alexander Temme
CEO CMO CFO/COO CCO
Group´s annual balance sheet according to IFRS for the fiscal year from January 1, 2021 to March 31, 2021
| in € k | 01/01/ - 03/31/2021 | 01/01/ - 03/31/2020 |
|---|---|---|
| Sales revenues | 54,591 | 43,675 |
| Currency earnings | 36 | 89 |
| Cost of sales | -24,828 | -20,813 |
| Gross profit on sales | 29,799 | 22,951 |
| Other income | 289 | 90 |
| Sales and marketing costs | -7,911 | -7,752 |
| General administration costs | -4,447 | -3,966 |
| Research and development | ||
| Full costs | -7,036 | -6,195 |
| Capitalisation of intangible assets | 2,464 | 2,867 |
| Depreciations intangible | -3,089 | -1,575 |
| Research and development | -7,661 | -4,904 |
| Other expenses | -1 | -13 |
| Operating result | 10,068 | 6,406 |
| Financial income | 16 | 33 |
| Financial expenses | -140 | -187 |
| Financial result | -124 | -154 |
| Earnings before tax | 9,944 | 6,252 |
| Income tax | -2,129 | -1,567 |
| Group´s period surplus | 7,815 | 4,685 |
| of which are allocated to | ||
| shareholders of the parent company | 7,815 | 4,685 |
| non-controlling shareholders | 0 | 0 |
| Average number of shares | 10,004,554 | 10,007,127 |
| Earnings per share diluted = undiluted (€) | 0.78 | 0.47 |
Group´s annual balance sheet according to IFRS for the fiscal year from January 1, 2021 to March 31, 2021
| in € k | 01/01/ - 03/31/2021 | 01/01/ - 03/31/2020 |
|---|---|---|
| Group's period surplus | 7,815 | 4,685 |
| Result from differences due to currency conversion, directly recorded in equity (to reclassified to the consolidated income statement in the future under certain conditions) |
813 | 108 |
| Adjustment Finance Lease w/o income effect/ IFRS 15 (not to be reclassified subequently to the consolidated income statement) |
0 | 0 |
| Total result, through profit or loss | 813 | 108 |
| Total result | 8,628 | 4,793 |
| of which are allocated to | ||
| shareholders of the parent company | 8,628 | 4,793 |
| non-controlling shareholders | 0 | 0 |
Group´s annual balance sheet according to IFRS for the fiscal year from January 1, 2021 to March 31, 2021
| in € k | 01/01/ - 03/31/2021 | 01/01/ - 03/31/2020 |
|---|---|---|
| Operating activities | ||
| Group's period surplus | 7,815 | 4,685 |
| Increase (+) / decrease (-) in deferred taxes | 221 | -555 |
| Payout/ incoming payments for interest | 282 | 181 |
| Depreciation of fixed assets | 4,586 | 3,092 |
| Change in capital resources without affecting payment | 813 | 108 |
| Increase (+) / decrease (-) in accruals | 1,113 | 918 |
| Profit (-) / loss (+) from asset disposals | 1 | 0 |
| Increase (-) / decrease (+) in reserves | -2,677 | -728 |
| Increase (+) / decrease (-) in advances from demand | -814 | -51 |
| Increase (-) / decrease (+) in accounts receivable | -9,744 | -5,129 |
| Increase (-) / decrease (+) in other assets | -1,076 | -2,068 |
| Increase (+) / decrease (-) in accounts payable | 3,967 | 730 |
| Increase (+) / decrease (-) in other liabilities | 171 | 843 |
| Net cash provided by operating activities | 4,658 | 2,026 |
| Investing activities | ||
| Payout for investments in fixed assets | -3,632 | -3,894 |
| Incoming payments for asset disposals | 11 | 0 |
| Expenses for acquisitions less cash acquired | 0 | 0 |
| Net cash provided by investing activities | -3,621 | -3,894 |
| in € k | 01/01/ - 03/31/2021 | 01/01/ - 03/31/2020 |
|---|---|---|
| Financing activities | ||
| Payout for amortisation of bank loans | -1,028 | -2,415 |
| Payout for amortisation of finance lease | -710 | -642 |
| Incoming payment for borrowings from banks | 0 | 8,600 |
| Interest payout | -282 | -181 |
| Incoming payment for sale of own shares | 84 | 0 |
| Payout for own shares | 0 | -285 |
| Dividends paid | 0 | 0 |
| Net cash provided by financing activities | -1,936 | 5,077 |
| Change in liquid funds | -899 | 3,209 |
| Funds at the beginning of the period | 47,860 | 35,177 |
| Funds at the end of the period | 46,961 | 38,386 |
| Composition of liquid funds at the end of the period | ||
| Cash in bank and cash in hand | 46,961 | 38,386 |
| Payout for taxes | -782 | -1,260 |
| in € k | 03/31/2021 | 12/31/2020 |
|---|---|---|
| Liabilities | ||
| A. Equity | ||
| I. Subscribed capital | 10,006 | 10,005 |
| II. Capital reserves | 22,590 | 22,590 |
| III. Retained earnings | 94,989 | 87,091 |
| IV. Other components of equity | -3,965 | -4,778 |
| 123,620 | 114,908 | |
| B. Long-term debt | ||
| I. Long-term liabilities | ||
| 1. Long-term liabilities to banks | 20,094 | 21,121 |
| 2. Other financial liabilities | 575 | 638 |
| 3. Liabilities from finance lease | 10,530 | 11,366 |
| II. Non-current provisions | 1,080 | 1,080 |
| III. Deferred tax liabilities | 10,087 | 9,710 |
| 42,366 | 43,915 | |
| C. Short-term debt | ||
| I. Other financial liabilities | 4,110 | 4,110 |
| II. Short-term accrual liabilities | 6,019 | 5,644 |
| III. Short-term other liabilities | ||
| 1. Liabilities from deliveries and services | 15,016 | 11,072 |
| 2. Other short-term financial liabilities | 3,837 | 4,394 |
| 3. Liabilities from finance lease | 3,668 | 3,437 |
| IV. Current tax liabilities | 3,390 | 2,652 |
| 36,040 | 31,309 | |
| 202,026 | 190,132 |
Group´s annual balance sheet according to IFRS for the fiscal year from January 1, 2021 to March 31, 2021
| in € k | 03/31/2021 | 12/31/2020 | |
|---|---|---|---|
| Assets | |||
| A. Long-term assets | |||
| I. Intangible assets | 37,202 | 37,346 | |
| IV. Goodwill | 27,474 | 27,474 | |
| II. Fixed assets | 11,893 | 12,125 | |
| III. Buildings and land in finance lease | 16,816 | 17,151 | |
| V. Other financial assets | 5 | 5 | |
| VI. Deferred tax assets | 1,035 | 879 | |
| 94,425 | 94,980 | ||
| B. Short-term assets | |||
| I. Inventories | 22,711 | 20,034 | |
| II. Receivables from deliveries and services | 29,215 | 19,471 | |
| III. Other short-term financial assets | 1,977 | 2,198 | |
| IV. Other short-term assets | 2,088 | 1,413 | |
| V. Claim for tax refunds | 4,649 | 4,176 | |
| VI. Cash in bank and cash in hand | 46,961 | 47,860 | |
| 107,601 | 95,152 | ||
| 202,026 | 190,132 |
Group´s annual balance sheet according to IFRS for the fiscal year from January 1, 2021 to March 31, 2021
| Other components of equity | |||||||
|---|---|---|---|---|---|---|---|
| in € k | Subscribed capital |
Capital reserve |
Retained ear nings incl. group's earnings |
Differences due to currency conversion |
Adjustment recognized directly in equity Finance lease/ IFRS15 |
Sum of other components of equity |
Total |
| Shareholders´ equity as of 01/01/2020 |
10,008 | 22,398 | 74,809 | 538 | -4,772 | -4,234 | 102,981 |
| Total result | 4,685 | 108 | 108 | 4,793 | |||
| Share salesback / Share buyback |
-285 | -285 | |||||
| Shareholders´equity as of 03/31/2020 |
10,008 | 22,398 | 79,209 | 646 | -4,772 | -4,126 | 107,489 |
| Total result | 10,424 | -867 | 215 | -652 | 9,772 | ||
| Share salesback / Share buyback |
-3 | 192 | 60 | 249 | |||
| Dividend outpayment* |
-2,602 | -2,602 | |||||
| Shareholders´equity as of 12/31/2020 |
10,005 | 22,590 | 87,091 | -221 | -4,557 | -4,778 | 114,908 |
| Total result | 7,815 | 813 | 813 | 8,628 | |||
| Share salesback / Share buyback |
1 | 83 | 84 | ||||
| Shareholders´equity as of 03/31/2021 |
10,006 | 22,590 | 94,989 | 592 | -4,557 | -3,965 | 123,620 |
* 0,26 € per share
| Date | Event | Venue |
|---|---|---|
| 05/19/2021 | Shareholders' meeting 2021 | Hamburg, Germany |
| 08/05/2021 | Publication 6-month report 2021 | Ahrensburg, Germany |
| 11/04/2021 | Publication 9-month report 2021 | Ahrensburg, Germany |
| 11/22/2021-11/24/2021 | Deutsches Eigenkapitalforum 2021 | Frankfurt am Main, Deutschland |
| Date | Event | Venue |
|---|---|---|
| 06/24/2021-06/25/2021 | VIsion China Beijing | Beijing, China |
| 06/29/2021-07/01/2021 | IAMD Shenzhen | Shenzhen, China |
| 08/24/2021-08/28/2021 | China International Industry Fair Shanghai (CIIF) | Shanghai, China |
| 08/25/2021-08/28/2021 | Taipei International Industrial Automation Exhibition |
Taipei, Taiwan |
| 09/08/2021-09/10/2021 | Korea Vision Show | Seoul, Korea |
| Dec. 2021 | International Technical Exhibition on Image Tech nology and Equipment 2021 (ITE) |
Yokohama, Japan |
| 12/03/2021-12/06/2021 | Healthcare+ Expo Taiwan | Taipei, Taiwan |
An der Strusbek 60-62 22926 Ahrensburg Germany Tel. +49 4102 463 0 Fax +49 4102 463 109 [email protected] baslerweb.com
Oderstr. 11 24539 Neumünster Germany Tel. +49 4321 559560 Fax +49 4321 5595610 [email protected]
Konrad-Zuse-Ring 28 68163 Mannheim Germany +49 621 789 507 0 +49 621 789 507 10 [email protected]
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. 160, Zhuangjing N. Rd., Zhubei City, Hsinchu County 302, Taiwan (R.O.C.) Tel. +886 3 558 3955 Fax +886 3 558 3956 [email protected]
2nd Floor, Building No.5, Dongsheng International Pioneer Park, No.1 Yongtaizhuang NorthRoad, Haidian District, Beijing Tel.+86 010 6295 2828 Fax +86-010-6280 0520 [email protected]
3F Shibadaimon Tosei Building, 1-1-32 Shibadaimon, Minato-ku, Tokyo 105-0012, Japan Tel. +81 3 6402 4350 Fax +81 3 6402 4351 [email protected]
No. 1503 Parkview Tower, 248 Jeongjail-Ro, Bundang-Gu, Seongnam 13554,Korea Tel. +82 31 714 3114 [email protected]
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