Russ Curry, Ministry of New Media
Today Barco (Euronext: BAR; Reuters: BARBt.BR; Bloomberg: BAR BB) announced results for the six month period ended June 30, 2016.
Barco president and CEO, Eric Van Zele said “This semester Barco again posted encouraging gains in terms of orders, shipments and profits while the company continued to strengthen its global leadership position in the three core businesses,”.
“Helped by the successful launch of laser and laser phosphor projectors combined with strong sales in China, we continued to consolidate our global lead position in digital cinema. Furthermore the growth momentum we recorded in our corporate segment through the success of our ClickShare product line was remarkable. Last but not least in our Healthcare division we recorded solid gains on all fronts fuelled in part by encouraging progress in terms of network-enabled visualization solutions for the operating room.”
“For the remainder of the year we intend to step up our investments in growth while simultaneously taking a critical look at all our business and ventures to ensure that they can meet our profitability objectives.”
EBITDA for the second half is expected to be similar to the second half of 2015, taking into consideration the increased level of growth investments relative to the first half of the year.
H1 2016 financial highlights included: –
- Incoming orders at 532.9 million euro (+ 2.0%)
- Sales at 529.2 million euro (+ 4.5%)
- Gross profit margin of 35.9% (+ 2.6 ppts)
- EBITDA of 49.5 million euro (+ 8.9 million euro) or 9.3% of sales (+ 1.3 ppts)
- EBIT of 24.1 million euro (+ 16.7 million euro) or 4.6% of sales (+ 3.1 ppts)
- Net income was 18.1 million euro, including a one-time gain on sale of 7.7 million euro
Barco posted sales of 1.029 billion euro in 2015.
Barco will host a conference call with investors and analysts on July 20, 2016 at 9:00 a.m. CET (3:00 am EST), to discuss the results of the first half 2016. Eric Van Zele, CEO, soon to leave Carl Peeters, CFO and Carl Vanden Bussche, IRO, will host the call. An audio cast of this conference call will be available on the Company’s website by 12:30 p.m. Brussels time (6:30 a.m. EST).
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