Basler tracks worst day ever as outlook disappoints

Basler AG

30/03/2023 08:19

(Headline, share movement, milestone)
    ** Shares in Basler  BSLG.DE  slump 14.3% after the German
industrial camera maker gave a "disappointing" 2023 outlook,
expecting a transitional year with continued geopolitical
uncertainties
    ** The company expects FY sales of 235-265 million euros
($254.72-287.23 million), with an 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 notes
    ** The broker questions how strongly the order momentum will
pick up in H2, as the order backlog will be depleted within the
coming weeks
    ** The stock, on track for its worst day ever, hits the
bottom of Germany's small-cap index  .SDAXI 
    
($1 = 0.9226 euros)

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