Solid profitability - Continued strong order intake
- Inside information
Kortrijk, Belgium, 19 July 2017 – Today Barco (Euronext: BAR; Reuters: BARBt.BR; Bloomberg: BAR BB) announced results for the six month period ended 30 June 2017.
First half 2017 financial highlights
- Incoming orders at 561.9 million euro (+5.4%)
- Orderbook at 349.5 million euro, (+9.0% versus year-end 2016)
- Sales at 518.0 million euro (-2.1%)
- Gross profit margin of 38.3% (+2.4 ppts)
- EBITDA of 48.2 million euro (-1.3 million euro) or 9.3% of sales (flat compared to 1H16)
- EBIT of 31.6 million euro (+7.4 million euro) or 6.1% of sales (+1.5 ppts)
- Net income at 19.2 million euro (+1.1 million euro)
Quote of the CEO, Jan De Witte
“On the strength of a sound second quarter performance, Barco posted first semester gains in orders and a solid profitability,” said Jan De Witte, CEO. “While the discontinuation of some non-profitable activities and the anticipated transition in the cinema market in key regions impacted sales, order intake was strong. The higher level of order intake reflects an uptake in demand for our new projection products for the Entertainment market and continued growth for ClickShare and our Healthcare solutions.”
“Barco grew gross profit margin to 38.3% and EBITDA margin was 9.3% for the first half of 2017, reflecting favorable mix and initial results from the “Focus to perform”-program including value engineering initiatives & portfolio streamlining actions.”
“During the second half of the year, we plan to focus on further strengthening our global competitiveness, improving our commercial excellence while launching and shipping new hardware and software solutions across divisions.”
“With a solid orderbook and the completion of selected portfolio optimizations we are well positioned for an improvement in sales and EBITDA margin for the second half of the year compared to the first half,” concluded Jan De Witte.
The following statements are forward looking and actual results may differ materially.
Given top line results for the first half of the year, management expects full year sales to be in line with last year. Our target of further improving EBITDA remains unchanged.
Read the full press release here.
Barco designs technology to enable bright outcomes around the world. Seeing beyond the image, we develop sight, sound, and sharing solutions to help you work together, share insights, and wow audiences. Our focus is on three core markets: Enterprise (from meeting and control rooms to corporate spaces), Healthcare (from the radiology department to the operating room), and Entertainment (from movie theatres to live events and attractions). In 2016, we realized sales of 1.102 billion euro. We have a team of 3,500 employees, located in 90 countries, whose passion for technology is captured in 400 granted patents.
For more information, visit us on www.barco.com, follow us on Twitter (@Barco), LinkedIn (Barco), YouTube (BarcoTV), or like us on Facebook (Barco).
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