Trading update 3Q22
INSIDE INFORMATION - REGULATED INFORMATION
Strong sales growth across divisions
Kortrijk, Belgium, 19 October 2022, 7:30 am – Today Barco (Euronext: BAR; Reuters: BARBt.BR; Bloomberg: BAR BB) announced the results for the third quarter ended 30 September 2022.
Third quarter 2022 highlights[1]
- Orders for 3Q22 of 242.0 million euro up 8% vs 3Q21
- Orders year-to-date of 751.2 million euro up 9% versus last year
- Order book per 30 September 2022 stood at 527.6 million euro, 22% above last year and 2% lower than end of June 2022
- Sales for 3Q22 of 262.2 million euro, up 40% versus 3Q21 (30% at constant currencies)
- Sales year-to-date of 734.9 million euro up 33% versus last year (25% at constant currencies)
Executive Summary
Group topline
(in millions of euro) | 3Q22 | 2Q22 | 1Q22 | 4Q21 | 3Q21 | Change 3Q22 vs 3Q21 |
Orders | 242.0 | 262.3 | 246.9 | 288.1 | 225.1 | 8% |
Sales | 262.2 | 266.4 | 206.3 | 251.6 | 186.7 | 40% |
Quarter-by-quarter overview
With third quarter orders up 8% versus last year, order book at quarter end remained close to the record-high level reached at the end of the second quarter. These orders reflect strong demand for Barco’s products in all regions, and strong order intake for Entertainment.
Sales in 3Q22 grew in all regions and divisions versus the same quarter last year, resulting in a sales growth at group level of 40%.
Although component shortages continued to negatively impact sales, delays in the order-to-sales conversion eased, amounting to 20 million euro for the third quarter of the year, compared to more than 40 million euro for the second quarter.
Quote of the CEO's, An Steegen & Charles Beauduin
“Our third quarter results demonstrate the durable strong demand for our leading product portfolio, building on the recovery across all divisions we saw in the first half of the year. As a result of the dedication and hard work of all teams in tackling supply chain challenges, we delivered on our order book which was at a record-high at the end of the first semester to drive sales growth for the quarter. “
Outlook 2022 - current
The following statements are forward looking, and actual results may differ materially.
We confirm the positive outlook and expect for 2022 a topline growth above 25% and an EBITDA level between 10 and 12%. We continue to see uncertainty related to supply chain constraints and inflation effects, which is reflected in this guidance.
Disclaimer
This press release may contain forward-looking statements. Such statements reflect the current views of management regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Barco is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release in light of new information, future events or otherwise. Barco disclaims any liability for statements made or published by third parties and does not undertake any obligation to correct inaccurate data, information, conclusions or opinions published by third parties in relation to this or any other press release issued by Barco.
About Barco
Barco is a global technology leader that develops networked visualization solutions for the entertainment, enterprise and healthcare markets. Our solutions make a visible impact, allowing people to enjoy compelling entertainment experiences; to foster knowledge sharing and smart decision-making in organizations and to help hospitals provide their patients with the best possible healthcare.
Headquartered in Kortrijk (Belgium), Barco realized sales of 804 million euro in 2021 and has a global team of 3,000+ employees, whose passion for technology is captured in +500 granted patents. Barco has been listed on the Brussels Stock Exchange since 1985. (Euronext: BAR; Reuters: BARBt.BR; Bloomberg: BAR BB)
For more information, visit us on www.barco.com, follow us on Twitter (@Barco), LinkedIn (Barco), YouTube (BarcoTV), Instagram (barco_nv) or like us on Facebook (Barco).
© Copyright 2022 by Barco
[1] All definitions for alternative performance measures (APM’s) are available in the glossary as available on Barco’s investor portal (https://www.barco.com/en/about-barco/investors)
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