Today Barco (Euronext: BAR; Reuters: BARBt.BR; Bloomberg: BAR BB) announced the results for the first quarter ended 31 March 2019. 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.
Jan De Witte CEO said “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.”
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 and 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.