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Barco NV — Earnings Release 2026
Apr 21, 2026
3911_10-q_2026-04-21_8c605512-1a88-45b6-b374-94597a91ac5e.pdf
Earnings Release
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Press release – regulated information – inside information
Trading Update 1Q26
Solid order book amid challenging market conditions
Kortrijk, Belgium, 21 April 2026, 7:15 am – Today Barco (Euronext: BAR; Reuters: BARBt.BR; Bloomberg: BAR BB) announced results for the 1st quarter ended 31 March 2026.
First quarter 2026 highlights
- Order intake 1Q26 of €215.4 million (-7% versus 1Q25, flat at constant currencies), overall impacted by geopolitical uncertainty, while showing strength in Entertainment.
- With a positive book-to-bill ratio, the orderbook at the end of 1Q26 strengthened to €536.0 million, an increase of 9% since year-end 2025.
- Sales 1Q26 of €180.6 million, -15% versus 1Q25, impacted by a strong currency exchange effect (sales were -8% at constant currencies) and affected by delayed order conversion and cautious customer decision-making
Orders and sales 1Q26
| in millions of euro | 1Q26 | 1Q25 | Change 1Q26 vs 1Q25 |
|---|---|---|---|
| Orders | 215.4 | 232.0 | -7% |
| Sales | 180.6 | 211.6 | -15% |
Order intake in the first quarter of 2026 was €215.4 million. Entertainment delivered order growth year-over-year, supported by continued momentum in the Cinema replacement cycle and premium formats. Healthcare orders declined versus a strong comparison base last year, particularly in the Americas. Diagnostic displays continued to show solid activity, particularly in EMEA. Enterprise orders were impacted by a cautious investment climate, mainly in the Americas, with Control Rooms showing resilience in EMEA and growth markets. Overall, the Group's order book strengthened versus year-end 2025 and remains solid, underpinned by strategic customer relationships and an increasing share of software-driven solutions.
Group sales in the first quarter amounted to €180.6 million, including a significant currency headwind of €14.0 million. Sales were impacted by the ongoing geopolitical uncertainty, mainly in the Americas, while EMEA was more resilient, despite impact in the Middle East. Entertainment remained the largest contributor, with Cinema growing in EMEA and the Americas. In Enterprise, Meeting Experience faced a weak investment climate, and focused strongly on the launch of ClickShare Hub, evangelizing the market channels and ramping up certified bundles. Meanwhile Control Rooms performed very resiliently, benefiting from increased attention to security and critical infrastructure. Healthcare sales saw growth for diagnostic displays, offset by lower volumes in surgical solutions.
Barco nv | Beneluxpark 21 | B-8500 Kortrijk | Belgium
Registered office: President Kennedypark 35 | B-8500 Kortrijk | Belgium
VAT BE 0473.191.041 | RPR Gent, Section Kortrijk
BARCO
Press release – regulated information – inside information
Quote of the CEO, An Steegen
"Our first quarter is clearly not where we want it to be. It unfolded against a backdrop of heightened uncertainty, particularly in the US and the Middle East.
Our order book and market shares remain solid and give us confidence in our ability to re-accelerate when market conditions normalize. Meanwhile, we are taking concrete actions to protect profitability through disciplined cost focus. Strategically, we are sharpening our focus on the areas where we see structural demand drivers and clear differentiation.
Entertainment continues to perform well, while Enterprise is more challenged, particularly in Meeting Experience, where the BYOD-agnostic market is contracting."
Outlook 2026
The following statements are forward looking on a like-for-like basis and actual results may differ materially
In the current environment, the pace and timing of customer investment decisions and order conversion remain uneven across end markets. If current macro-economic conditions and geopolitical tensions persist, Barco may not be able to continue to hold to its previously communicated full-year guidance.
Barco will update its outlook together with the publication of its first-half 2026 results, including the integration of VerVent Audio Holding.
Barco maintains its long-term strategic guidance. As the business continues to shift from CAPEX to OPEX models, the company targets organic growth towards €1.1 billion, a 15% EBITDA margin and 15% recurring revenues by 2028.
Acquisition of VerVent Audio Holding
Following the announcement of the intended acquisition of VerVent Audio Holding, Barco confirms that the share purchase agreement has been signed. Subject to customary closing conditions, the transaction is expected to be completed by end of April.
Barco nv | Beneluxpark 21 | B-8500 Kortrijk | Belgium
Registered office: President Kennedypark 35 | B-8500 Kortrijk | Belgium
VAT BE 0473.191.041 | RPR Gent, Section Kortrijk
BARCO
Press release – regulated information – inside information
Consolidated results for 1Q26
Order intake & order book
Order intake year-over-year
| in millions of euro | 1Q26 | 1Q25 | Change 1Q26 vs 1Q25 |
|---|---|---|---|
| Order intake | 215.4 | 232.0 | -7% |
| At constant currencies | flat |
Order intake quarter-over-quarter
| in millions of euro | 1Q26 | 4Q25 | 3Q25 | 2Q25 | 1Q25 |
|---|---|---|---|---|---|
| Order intake | 215.4 | 235.7 | 222.1 | 255.6 | 232.0 |
Orderbook
| in millions of euro | 31 Mar 2026 | 31 Dec 2025 | 30 Sep 2025 | 30 Jun 25 | 31 Mar 2025 | 31 Dec 2024 |
|---|---|---|---|---|---|---|
| Order book | 536.0 | 492.8 | 539.7 | 548.4 | 568.6 | 563.7 |
Sales
Sales year-over-year
| in millions of euro | 1Q26 | 1Q25 | Change 1Q26 vs 1Q25 |
|---|---|---|---|
| Sales | 180.6 | 211.6 | -15% |
| At constant currencies | -8% |
Sales by division quarter-over-quarter
| in millions of euro | 1Q26 | 4Q25 | 3Q25 | 2Q25 | 1Q25 |
|---|---|---|---|---|---|
| Entertainment | 81.2 | 145.6 | 111.9 | 117.7 | 91.5 |
| Enterprise | 39.3 | 71.4 | 56.2 | 56.1 | 51.4 |
| Healthcare | 60.1 | 65.5 | 58.9 | 69.0 | 68.6 |
| Group | 180.6 | 282.4 | 227.1 | 242.8 | 211.6 |
Barco nv | Beneluxpark 21 | B-8500 Kortrijk | Belgium Registered office: President Kennedypark 35 | B-8500 Kortrijk | Belgium VAT BE 0473.191.041 | RPR Gent, Section Kortrijk www.barco.com
BARCO
Press release – regulated information – inside information
Divisional results for 1Q26
ENTERTAINMENT division
| in millions of euro | 1Q26 | 1Q25 | Change 1Q26 vs 1Q25 |
|---|---|---|---|
| Orders | 119.0 | 112.4 | +6% |
| Sales | 81.2 | 91.5 | -11% |
Entertainment orders were 6% higher than in the first quarter of 2025, fueled by strong demand in Cinema. Sales declined 11% year-over-year, mainly driven by Immersive Experience, which faced continued weak market conditions in the Americas and was impacted by the tensions in the Middle East.
Cinema order intake delivered double-digit growth, supported by sustained demand for lamp-to-laser upgrades and a continued shift toward premium cinema experiences, including HDR by Barco, with combined installed base and pipeline totaling over 150 installations. Sales were in line with last year, with an improvement of the box office throughout the first the quarter. Growth in EMEA and the Americas was offset by softer market conditions in Asia.
Immersive Experience faced more challenging conditions, as customers deferred investments amid elevated uncertainty and tariff concerns. Sales were soft in the Americas, while EMEA showed greater resilience, supported by growth in Western Europe. In the Middle East, regional events led to postponed project deployments. China remained subdued due to constrained public spending. Despite these headwinds, our recently launched new products are well received, and Barco strengthened its market share in the global projection market.
ENTERPRISE division
| in millions of euro | 1Q26 | 1Q25 | Change 1Q26 vs 1Q25 |
|---|---|---|---|
| Orders | 42.8 | 55.1 | -22% |
| Sales | 39.3 | 51.4 | -24% |
Enterprise recorded lower topline year-on-year in the first quarter, reflecting a cautious investment climate, however Control Rooms showed resilience and selective growth, particularly in EMEA and APAC.
Meeting Experience was impacted by delayed investment decisions amid geopolitical uncertainty. Order delays were also linked to an anticipated ownership transition of a major distributor. Globally, sell-out for BYOD systems continued to decline year-over-year. The new ClickShare Hub room system was launched in December 2025, with two certified bundles announced to date and additional ones in the pipeline. The focus is on expanding the portfolio with additional features and form factors, scheduled for launch from mid-2026 onwards.
Control Rooms demonstrated strong resilience, with orders and sales in line with last year. The business benefited from sustained demand and continued investments in security and critical infrastructure, including energy, utilities and transportation. Barco CTRL continued to gain traction in the mix, reinforcing the shift toward more software-driven, solutions-oriented offerings.
Barco nv | Beneluxpark 21 | B-8500 Kortrijk | Belgium
Registered office: President Kennedypark 35 | B-8500 Kortrijk | Belgium
VAT BE 0473.191.041 | RPR Gent, Section Kortrijk
BARCO
Press release – regulated information – inside information
HEALTHCARE division
| in millions of euro | 1Q26 | 1Q25 | Change 1Q26 vs 1Q25 |
|---|---|---|---|
| Orders | 53.6 | 64.5 | -17% |
| Sales | 60.1 | 68.6 | -12% |
Healthcare recorded lower orders and sales year-on-year in the first quarter, against a strong comparison base and amid a significant currency headwind, reflecting the division's exposure to the US dollar. While demand in the Americas was impacted by timing effects and delayed orders from government-related customers, EMEA showed greater resilience, supported by solid tender activity.
Sales for diagnostic displays grew and thrived on a good momentum, supported by a strong replacement cycle, particularly in EMEA, and sustained demand for high-end solutions. Digital pathology remains a clear growth segment, increasingly supported by software applications such as SlideRightQA. Sales for surgical solutions declined on a reduced contract portfolio. The focus is on broadening the offering with new innovative solutions with high-value computational features and an extension into mid-segment solutions. Modality, operating from China and serving global customers, continues to focus on value engineering to support a competitive cost position.
Barco nv | Beneluxpark 21 | B-8500 Kortrijk | Belgium
Registered office: President Kennedypark 35 | B-8500 Kortrijk | Belgium
VAT BE 0473.191.041 | RPR Gent, Section Kortrijk
BARCO
Press release – regulated information – inside information
Additional information
The information given in this press release has not been reviewed by the statutory auditor.
In the event of differences between the Dutch and the English original of this press release, the latter prevails.
Request more information
Willem Fransoo, Director Investor Relations
+32 56 89 59 00 or [email protected]
Financial calendar 2026
| Thursday 30 April | Annual General shareholders meeting |
|---|---|
| Wednesday 15 July | Announcements results 1H26 |
| Tuesday 20 October | Trading update 3Q26 |
More information? Please visit our webpage https://www.barco.com/en/about/investors
Disclaimer
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.
About Barco
Barco, headquartered in Kortrijk (Belgium), is a global technology company leading in visualization, networking, and collaboration solutions. Its innovative technologies drive advancements in the healthcare, enterprise, and entertainment markets. At the heart of Barco's success are over 3,000 dedicated 'visioneers', each passionately contributing to driving change through technology.
Listed on Euronext (BAR), Reuters (BARBt.BR), and Bloomberg (BAR BB), Barco realized sales of 964 million euro in 2025. For further insights, please visit www.barco.com, or connect on LinkedIn, YouTube, Instagram, and Facebook.
Barco. Visioneering a bright tomorrow. © 2026
Barco nv | Beneluxpark 21 | B-8500 Kortrijk | Belgium
Registered office: President Kennedypark 35 | B-8500 Kortrijk | Belgium
VAT BE 0473.191.041 | RPR Gent, Section Kortrijk
BARCO