Earnings Release • Apr 17, 2019
Earnings Release
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Kortrijk, Belgium, 17 April 2019, 7:30 am – Today Barco (Euronext: BAR; Reuters: BARBt.BR; Bloomberg: BAR BB) announced the results for the first quarter ended 31 March 2019.1
During the first quarter, Barco booked 269.0 million euro of incoming orders, an increase of 10.0% year-over-year. At constant currencies orders were 6.1% higher compared to last year.
Order book as of 31 March 2019 stood at 341 million euro, up 12.4% compared to the first quarter of last year.
Sales for the quarter were 242.8 million euro, an increase of 8.4% compared to the first quarter of 2018. At constant currencies sales were 4.1% higher than last year.
All divisions delivered growth for the first quarter of the year.
The Enterprise division produced another quarter of solid growth fueled by continued strong momentum for both ClickShare, as well as Control Rooms which delivered its third consecutive quarter of year-over-year sales growth. Sales for the Entertainment division were stronger than last year led by further uptakes in Cinema in North America and EMEA. The Healthcare division continued to post solid results in all segments.
"I'm pleased to see that the progress we are making translate into healthy first quarter topline results. After working on portfolio choices and turnarounds over the past 2 years and redeploying resources towards new product offerings and commercial capabilities, we are re-establishing growth and continuing our drive to become a sustainable profitable growth company," said Jan De Witte, CEO Barco.
"We now expect to deliver mid to high single digit sales growth for the year assuming currencies and the global economic environment remain stable, with continued EBITDA and EBITDA margin growth." 2
Order Book
| (in millions of euro) | 31 Mar | 31 Dec | 30 Sep | 30 Jun | 31 Mar |
|---|---|---|---|---|---|
| 2019 | 2018 | 2018 | 2018 | 2018 | |
| Order book | 341.0 | 303.2 | 319.5 | 324.4 | 303.4 |
1 To present comparable data for 2018, prior year orderbook, orders and sales figures are presented on a pro forma basis assuming the deconsolidation of the BarcoCFG joint venture had taken place. See for more information Annex III in press release of the full year 2018 results.
P 1 / 3 2 Growth rates in management's guidance are based on comparisons to 2018 results on a pro forma basis.
| Order Intake | |||||||
|---|---|---|---|---|---|---|---|
| (in millions of euro) | 1Q19 | 4Q18 | 3Q18 | 2Q18 | 1Q18 | ||
| Order Intake | 269.0 | 263.9 | 243.3 | 252.0 | 244.4 | ||
| Sales | |||||||
| Sales | |||||||
| (in millions of euro) | 1Q19 | 4Q18 | 3Q18 | 2Q18 | 1Q18 | ||
| Sales | 242.8 | 281.7 | 248.7 | 234.7 | 223.9 | ||
| Sales per division | |||||||
| (in millions of euro) | 1Q19 | 1Q18 | Change | ||||
| Entertainment | 94.1 | 89.2 | +5.5% | ||||
| Enterprise | 86.5 | 74.2 | +16.7% | ||||
| Healthcare | 62.2 | 60.6 | +2.7% | ||||
| Group | 242.8 | 223.9 | 8.4% |
PRESS RELEASE – REGULATED INFORMATION – INSIDE INFORMATION
| - | Annual general shareholders meeting | Thursday 25 April 2019 |
|---|---|---|
| - | Ex-Dividend Trading date | Monday 6 May 2019 |
| - | Record date for Dividend | Tuesday 7 May 2019 |
| - | Payment date for Dividend | Wednesday 8 May 2019 |
| - | Capital Markets Day | Thursday 9 May 2019 |
| - | Announcements 1H19 results | Thursday 18 July 2019 |
| - | Trading Update 3Q19 | Wednesday 23 October 2019 |
The information given in this press release has not been reviewed by the statutory auditor.
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 2018, we realized sales of 1.028 billion euro. We have a global team of 3,600 employees, 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).
© Copyright 2019 by Barco
Carl Vanden Bussche, VP Investor Relations +32 56 26 23 22 or [email protected]
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