Earnings Release • Oct 22, 2014
Earnings Release
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Date: 22 October 2014 For immediate release
Name: Carl Vanden Bussche Title: Director Investor Relations Tel: +32 56 26 23 22 E-mail: [email protected]
Kortrijk, Belgium, 22 October 2014
Today Barco released selected results for the third quarter ended 30 September 2014.
Order book as of 30 September 2014 stood at 488.9 million euro, up 25.5 million euro compared to 30 September 2013 and 9.1 million euro compared to 30 June 2014.
Incoming orders booked during the third quarter of 2014 were 247.6 million euro, a decrease of 14.1% compared to the third quarter of 2013.
Sales were 257.9 million euro, an increase of 0.8% compared to the third quarter of 2013.
EBITDA and EBITDA margin for the third quarter improved relative to the third quarter of last year.
"Although Barco's order book continued to grow, incoming orders for Defense & Aerospace and LiveDots were lower than anticipated while shipments for the quarter materialized roughly in line with our expectations," said Eric Van Zele, President and CEO.
"We successfully completed the divestiture of Orthogon and signed an agreement with Esterline to sell Defense & Aerospace, leaving a more focused and leaner Barco behind with substantial resources to invest in profitable growth in the core divisions."
"We are confident about delivering results for 2H14 that are comparable to 2H13, excluding any one time gains from divestitures."
| 3Q14 | 3Q13 | Change | |
|---|---|---|---|
| Barco | 488.9 | 463.4 | 4.3% |
| 3Q14 | 3Q13 | Change | |
|---|---|---|---|
| Incoming orders | 247.6 | 288.4 | (14.1%) |
| Sales | 257.9 | 255.7 | 0.8% |
| YTD14 | YTD13 | Change | |
| Incoming orders | 759.2 | 844.9 | (10.1%) |
| Sales | 755.9 | 853.6 | (11.4%) |
The chart shown below presents the divisional sales for 3Q14 and the comparable proforma sales for 3Q13.
| Divisions | 3Q14 | 3Q13 | Change |
|---|---|---|---|
| Entertainment & Corporate | 129.8 | 132.4 | (1.9%) |
| Healthcare | 48.1 | 47.5 | 1.4% |
| Industrial & Government | 41.8 | 34.2 | 22.2% |
| Defense & Aerospace | 28.5 | 28.8 | (1.1%) |
| Ventures | 9.8 | 13.8 | (29.2%) |
| Intra-group eliminations | 0.0 | (0.5) | |
| Barco | 257.9 | 255.7 | 0.8% |
| YTD14 | YTD13 | Change | |
|---|---|---|---|
| Entertainment & Corporate | 381.7 | 438.6 | (13.0%) |
| Healthcare | 136.5 | 146.1 | (6.5%) |
| Industrial & Government | 110.3 | 115.0 | (4.1%) |
| Defense & Aerospace | 92.5 | 99.9 | (7.4%) |
| Ventures | 35.9 | 56.5 | (36.4%) |
| Intra-group eliminations | (1.8) | (1.8) | |
| Barco | 755.9 | 853.6 | (11.4%) |
2H14 and FY14 results will be communicated on 12 February 2015.
The information given in this press release has not been reviewed by the statutory auditor.
Barco, a global technology company, designs and develops networked visualization products for a variety of selected professional markets. Barco has its own facilities for Sales & Marketing, Customer Support, R&D and Manufacturing in Europe, North America and APAC. Barco (NYSE Euronext Brussels: BAR) is active in more than 90 countries with 4,000 employees worldwide. Barco posted sales of 1.158 billion euro in 2013.
For more information and the annual report 2013, please visit the Company's website at www.barco.com
© Copyright 2014 by Barco
Barco NV President Kennedypark 35 8500 Kortrijk, Belgium
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