Note: To present comparable data for 2017, prior year figures below are presented on a pro-forma basis assuming the deconsolidation of the BarcoCFG joint venture had taken place on July 1, 2017. Reported and pro forma figures for the prior four quarters can be found in the appendix.
Sales for the quarter were 248.7 million euro, an increase of 2.6% compared to 242.5 million euro for the third quarter of 2017.
Incoming orders booked during the third quarter of 2018 were 243.3 million euro, a decrease of 6.1% compared to the third quarter of 2017.
Order book as of 30 September 2018 stood at 319.5 million euro, a 0.8% decrease compared to the third quarter of last year and a 12% increase compared to year-end 2017.
Entertainment registered single digit declines in orders and sales mainly as a result of a softening demand for cinema in China, while growth picked up in cinema for both the American and European regions.
Orders and sales for the Enterprise division showed solid growth results year-over-year driven by continued momentum for ClickShare and ramping-up for the Barco UniSee control room product.
The Healthcare division produced high single digit growth in sales primarily driven by continued strong demand in its surgical segment, while order intakes were lower, as anticipated, following strong order intakes in 1H18 and bulk order bookings in 3Q17.
Based on a good order book, strong sales funnels and measurable progress in different domains, management expects 2018 sales to be comparable to 2017 on a pro forma base, with improved EBITDA.
Quote of the CEO, Jan De Witte
“We delivered growth in cinema in orders and sales for both the American and European market, and are well positioned in this market with the official launch of Cinionic as of 1st of October 2018. I’m also pleased by the progress we’re making on the LCD-based videowall ‘Barco UniSee’ and the good uptake of projects in our surgical healthcare segment,” said Jan De Witte, CEO of Barco.
“In the third quarter we reversed the trend of the first half and produced sales growth for the group, driven by solid gains for both the Enterprise and the Healthcare division. As a result we are on track to bring the year sales to the level of last year. Furthermore we also continue to improve our EBITDA and EBITDA margin by executing our ‘focus to perform’ program and identifying further business- and cost efficiencies,” concluded Mr. De Witte.
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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.
Barco designs technology to enable bright outcomes around the world. Seeing beyond the image, we develop visualization and collaboration 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 theaters to live events and attractions). In 2017, we realized sales of 1.085 billion euro. We have a team of 3,600 employees, located in 90 countries, whose passion for technology is captured in 400 granted patents.
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