Brief: Basler Closes Restructuring Year In Line With Forecast, Dividend Payment For 2023 Suspended

Basler AG

05/03/2024 14:52

March 5 (Reuters) - BASLER AG  BSLG.DE :
    * BASLER AG: PRELIMINARY BUSINESS FIGURES FOR 2023:   
BASLER
CLOSES RESTRUCTURING YEAR IN LINE WITH FORECAST, DIVIDEND
PAYMENT FOR 2023 SUSPENDED
    * EBT BEFORE RESTRUCTURING EXPENSES EURO -8.0 MILLION
    * EARNINGS AFTER TAX EURO -13.8 MILLION (2022: EURO 21.4
MILLION,
>-100 %)
    * FREE CASH FLOW EURO -9.2 MILLION (2022: EURO -31.8
MILLION)
    * BASLER CLOSES FINANCIAL YEAR IN LINE WITH FORECAST REVISED
IN
MIDDLE OF YEAR AND SPECIFIED IN NOVEMBER, WHICH ENVISAGED SALES
OF BETWEEN EURO 200 MILLION AND EURO 205 MILLION WITH A PRE-TAX
LOSS OF BETWEEN EURO 18 MILLION AND EURO 20 MILLION FOR 2023
FINANCIAL YEAR
    * OUTLOOK: ONGOING WEAK LEVEL OF INCOMING ORDERS AND
CONTINUED
HIGH CUSTOMER INVENTORY LEVELS IN FIRST WEEKS OF FISCAL YEAR
2024 MAKE MANAGEMENT CAUTIOUS ABOUT Q1, DESPITE INCREASINGLY
POSITIVE FEEDBACK FROM CUSTOMERS
    * OUTLOOK: MANAGEMENT WILL CONTINUE ITS STRICT COST
MANAGEMENT FOR
TIME BEING
    * HE MANAGEMENT BOARD OF BASLER AG DECIDED AT ITS MEETING
TODAY TO
PROPOSE TO ANNUAL GENERAL MEETING TO SUSPEND PAYMENT OF A
DIVIDEND FOR FISCAL YEAR 2023 AND TO CARRY FORWARD ENTIRE
BALANCE SHEET PROFIT TO NEW ACCOUNT
    * COMPANY'S FUNDAMENTAL DIVIDEND POLICY REMAINS UNCHANGED
    * FURTHER BACKGROUND INFORMATION ON 2023 RESULTS, FORECAST
FOR
2024 FINANCIAL YEAR AND A MEDIUM-TERM OUTLOOK WILL FOLLOW WITH
PUBLICATION OF FINAL FIGURES AND ANNUAL REPORT ON MARCH 28, 2024

Source text for Eikon:  ID:nEQ4TLwwSa 
Further company coverage:  BSLG.DE 

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