(in millions of euro)
Change 3Q22 vs 3Q21
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.