Basler falls on 'disappointing' outlook

Basler AG

30/03/2023 07:57

** Shares in Basler  BSLG.DE  fall 8.1% in early Frankfurt
trade after the German industrial camera maker reported a
"disappointing" outlook, expecting a transitional year with
continued geopolitical uncertainties
    ** The German company expects its FY sales to come in
between 235-265 million euros ($254.72-287.23 million), as well
as the EBT margin of 5-8%
    ** "All-in-all disappointing report should weigh on shares.
But expect volatile trading with low volumes in BSL shares" a
local trader says
    ** " The order momentum in the first weeks of '23 continues
to be weak, mainly due to delays in the semi and consumer
electronic verticals in Asia and the US, which triggered the
cautious outlook" Jefferies cites
    ** The broker questions how strongly the order momentum
picks up in H2, as the order backlog will be depleted within the
coming weeks
    ** Stock seen at the bottom of Germany's small-cap
index .SDAXI 
    
($1 = 0.9226 euros)

 (Reporting by Ozan Ergenay)
 ((ozan.ergenay@thomsonreuters.com))