Basler AG Announces Preliminary Business Figures for 2023 and Suspends Dividend Payment

Basler AG, a key player in image processing solutions, revealed its preliminary financial performance for the fiscal year 2023, displaying a significant downturn compared to the previous year. Sales plummeted by 25% to €203.1 million, and incoming orders saw a 33% reduction to €166.9 million. The EBITDA massively dropped to €1.7 million, showing a drastic decline from the previous year's €45.8 million. This challenging year concluded with Basler incurring a pre-tax loss of €20.2 million, starkly contrasting with a profit of €28.3 million in 2022.

Citing the adverse effects of the coronavirus pandemic, the semiconductor crisis, and rising geopolitical tensions, the company experienced diminished orders and cancellations, especially from Asian markets. In response to faltering sales and a gloomy economic outlook, Basler initiated a severe cost-cutting and restructuring program by mid-year, one-time charges of which amounted to €12.2 million of the pre-tax losses.

The decision to suspend the 2023 dividend payment was made to prioritize liquidity and the firm's financial stability, despite this marking a departure from Basler's prior continuous growth and profitability over the past fifteen years. The implemented restructuring measures aim to lower the profit threshold and address the ongoing decrease in orders and elevated customer inventory levels as the company enters fiscal year 2024 with caution.

Final figures for 2023 and prospects for the upcoming fiscal year will be detailed in the annual report due on March 28, 2024. Throughout these challenges, Basler AG reaffirms its commitment to stringent cost management while maintaining its fundamental dividend policy for the future.