Basler AG

Latest Results (24.12.2025):

Basler AG — Q1 2025 summary: Basler started 2025 with a strong operational recovery. Sales rose to €59.5m in Q1 2025 (up 37% year‑on‑year) and incoming orders were €52.1m (+18% y/y). Profitability moved back into positive territory with EBITDA of €10.1m and EBT of €6.0m (EBT margin 10.0%), producing a net profit of €4.8m and earnings per share of €0.16. Management confirms its 2025 guidance (sales €186–198m; pre‑tax margin 0–5%) while flagging limited visibility, US tariffs and currency risks.

Sales & orders

Q1 2025 sales: €59.5m (+37% vs Q1 2024). Incoming orders: €52.1m (+18% vs prior year). Business strength was driven by major projects in China and the USA.

Profitability

Gross profit €28.6m and gross margin 48.1% (up 3.5 percentage points y/y). EBITDA €10.1m (previously €1.0m) and EBT €6.0m (vs -€3.6m), yielding net income €4.8m (vs -€3.9m) and EPS €0.16 (vs -€0.13).

Cash flow & liquidity

Operating cash flow turned positive at €0.4m (vs -€1.1m). Free cash flow improved to -€2.2m (from -€3.4m). Cash and cash equivalents at 31 Mar 2025 were €16.1m (down from €21.3m at year‑end).

Balance sheet & capital structure

Equity rose to €128.8m, equity ratio improved to 55.3% (from 53.3%). Inventories were reduced (to €35.3m) while trade receivables increased (to €38.7m) due to higher sales. Number of employees: 849 FTEs.

Guidance, risks and management actions

Management reconfirms FY2025 guidance (sales €186–198m; pre‑tax margin 0–5%). Key risks: newly introduced US tariffs, currency fluctuations and limited customer order visibility. Measures to limit tariff impact and strict cost discipline are in place.

Regional mix & market notes

Regional sales split Q1 2025: Asia 47%, EMEA 30%, Americas 23%. Above‑average growth in China and the USA; Europe grew more slowly. Management notes ongoing price pressure, especially in China.

Costs, R&D and strategic progress

Cost‑cutting program largely completed; break‑even lowered to ~€180m. Full costs for R&D in Q1 €7.5m (R&D ratio ~12.6% in context). No major new product launches in Q1, but continuing product enhancements and trade‑show presence (LogiMAT).

Market reaction & capital market

Basler AG share closed at €8.70 on 31 Mar 2025 (vs €6.12 at 31 Dec 2024, +42%). Management has stepped up investor outreach and will continue transparent reporting through the year.