Sony Pixel Power calrec Sony

TRADING UPDATE 3Q20

22/10/2020

TRADING UPDATE 3Q20 Regulated information - Inside information Soft Q3 with mix of recovery and prolonged covid impact

Kortrijk, Belgium, 21 October 2020, 7:30 am Today Barco (Euronext: BAR; Reuters: BARBt.BR; Bloomberg: BAR BB) announced the results for the third quarter ended 30 September 2020.

Financial highlights 3Q20

Orders, versus 3Q19, declined to 157.6 million euro from 275.6 million euro

Orders, versus 2Q20, increased 8.7%

Order book as of 30 September 2020 stood at 299.1 million euro, 5.7% below end of June 2020

Sales, versus 3Q19, declined to 167.4 million euro from 266.9 million euro

Sales year-to-date decreased 24.7% to 574.7 million euro, compared to the same period a year ago

Sales, versus 2Q20, were 2.4% lower reflecting a decline in Healthcare sales in the third quarter offset by increases in Entertainment & Enterprise sales

Executive summary 3Q20

Group topline

The third quarter results continued to reflect varied demand dynamics associated with covid-19 across Barco's regions and divisions. Although orders and sales were significantly below last year, on a quarter-over-quarter basis, sales were essentially flat, and orders grew.

3Q versus 2Q comparison - Regional breakdown

From a regional perspective, sales grew in EMEA markets and were flat in APAC, reflecting economic pick-up in several end markets. Sales declined in the Americas region where the pace of economic recovery in our end markets lags other regions.

3Q versus 2Q comparison - Divisional breakdown

Divisional results reflect early indications of economic recovery in the Entertainment and Enterprise divisions. Activity in Healthcare was weaker across all segments and most pronounced in the Americas region as customers reset delivery schedules based on hospital spending priorities.

Enterprise sales began to rebound in the third quarter as demonstrated by a solid pick-up for both the Control Rooms and the ClickShare segments. ClickShare sales continued to steadily improve in line with back-to-office trends and the need for solutions that enable hybrid workspaces. Six months after its launch, ClickShare Conference now accounts for 22% of the ClickShare business.

In Entertainment, both the Cinema and the V&H segments contributed to a modest 3% growth in divisional sales versus Q2 on new build activity for cinema in EMEA and with services rebounding as cinemas reopen.

Healthcare reported a slow third quarter, following a very strong first half. As a result, sales year-to-date for Healthcare are now flat. The weak 3Q was driven by short term postponement of investments by hospitals leading to deployment push-outs.

Investing in strategic growth opportunities while adjusting the cost base

The company continues to execute its plan to align both its activity rate and spending with the impacts of the pandemic by resetting indirect cost levels, next to temporary measures and resource redeployments.

In parallel, the company continues to invest in strategic portfolio innovations and to strengthen commercial activities in selected markets and regions in order to further improve its competitive position.

Quote of the CEO, Jan De Witte

While total company topline for the 3rd quarter was flat with the 2nd quarter, we saw improvements in Enterprise and indications of economic recovery in EMEA and parts of APAC. Healthcare delivered a softer quarter, but its fundamentals remain solid. In Entertainment, although the global Cinema and Events segments are clearly riding a roller-coaster, Barco's longer-term growth opportunities remain unchanged. With Clickshare Conference, positive market receptivity is telling us we have the right product at the right time to enable hybrid workplaces, and we are continuing to invest in building awareness.

At this point, it is clear that 2020 will prove to be an off-year for the Barco P&L. To put the company back on its path to reaching its long-term financial goals, we are resetting expense levels while continuing to invest in strategic growth initiatives, said Jan De Witte, CEO of Barco.

Outlook

Taking into account the uncertainties associated with the second covid wave, both in terms of its impact on ongoing recovery rates in Europe and delayed recovery in the Americas region, management expects continuous pressure on topline performance.

Given lower volumes, unfavorable mix and continued investments in commercial and innovation strength, we expect a considerable decrease in full year EBITDA margin compared to the first half.

Read the full press release here

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 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, classroom and control rooms to corporate spaces), Healthcare (from the radiology department to the operating room), and Entertain
LINK: https://www.barco.com/en/News/Press-releases/TRADING-UPDATE-3Q20.aspx...
See more stories from projectdesign

Most recent headlines

13/03/2025

FCC Chairman Carr Launches Massive Deregulation Initiative

WASHINGTON FCC Chairman Brendan Carr announced that the agency has launched a massive, new deregulatory initiative that could potentially subject virtually all ...

13/03/2025

SDVI Integrates Rally With Spectra Vail

SUNNYVALE, Calif. SDVI has announced that it has integrated its Rally media supply chain management platform with the Spectra Vail multi-cloud data management s...

13/03/2025

FCC Approves Gray's Acquisition of KXLT

ATLANTA Gray Media has announced that the Federal Communications Commission (FCC) has granted a waiver of its local ownership rules to permit Gray Media to acqu...

13/03/2025

NAB Show 2025 Exhibitor Insight: Blackmagic Design

TV Tech: What do you anticipate will be the most significant technology trends at the 2025 NAB Show?...

13/03/2025

Watch Student Naomi Soleils Folk Pop Performance on The Voice

Watch Student Naomi Soleils Folk Pop Performance on The Voice The songwriting major sang Stars by Grace Potter and the Nocturnals during the blind auditions. ...

12/03/2025

Como o Impacto Cultural e Financeiro da Indstria Musical Define Seu Sucesso em 2025

O Spotify acaba de lan ar o relat rio Loud & Clear deste ano, uma vis o transpar...

12/03/2025

Cmo el impacto cultural y financiero de la industria musical define su xito en 2025

Spotify acaba de presentar el informe Loud & Clear de este a o, una mirada trans...

12/03/2025

Nourish Mind, Body, and Soul This Ramadan With Spotify

Ramadan, a period of profound spiritual significance for Muslims worldwide, is a time for fasting, prayer, reflection, and community. Enrich your experience thi...

12/03/2025

How the Music Industry's Cultural and Financial Impact Define Its Success in 2025

Spotify has just unveiled this year's Loud & Clear report, a transparent loo...

12/03/2025

FAST now transcends back catalog content

More than 70% of FAST programming has been produced since 2010, according to new Gracenote report NEW YORK March 12, 2025 Gracenote, the content data busin...

12/03/2025

Viamedia Adopts ShowSeeker Pilot To Streamline Ad Workflows

GEONA, Nev. Independent digital and linear advertising rep firm Viamedia will adopt cloud-based ShowSeeker Pilot as its primary ad campaign and order management...

12/03/2025

Mediagenix Appoints Wael Yasin as Sales Director Central Europe

BRUSSELS Mediagenix has announced that Wael Yasin has joined the company as sales director Central Europe....

12/03/2025

Omdia: Global Online Consumer Expenditure to Hit $6.6 Trillion by 2029

LONDON A new study highlights opportunities for shoppable TV and the massive impact online consumer spending is having on the economy, with Omdia predicting tha...

12/03/2025

Comcast Technology Solutions Upgrades to Interra Systems BATON Version 9

CUPERTINO, Calif. Interra Systems has announced that Comcast Technology Solutions has integrated recent updates to BATON Version 9 into its operations....

12/03/2025

Nevion announces new 400G addition to its eMerge SDN media fabric offering

Nevion announces new 400G addition to its eMerge SDN media fabric offering Brie Clayton March 12, 2025 0 Comments High-capacity switch enhances existi...

12/03/2025

DaVinci Resolve Studio Delivers Cinematic Sound for Adam Bol

DaVinci Resolve Studio Delivers Cinematic Sound for Adam Bol Brie Clayton March 12, 2025 0 Comments Feature film relies on DaVinci Resolve Studio for ...

12/03/2025

SVT Leverages Ateliere Live to Pioneer 100% Software-Defined Production at Rally Sweden 2025

SVT Leverages Ateliere Live to Pioneer 100% Software-Defined Production at Rally...

12/03/2025

Berklee Awards Fenway Neighborhood Improvement Grant to Four Organizations

Berklee Awards Fenway Neighborhood Improvement Grant to Four Organizations A total of $17,000 will be distributed among the Boston-based nonprofits. By Madd...

12/03/2025

Offering a broad umbrella for IP standards

TVBEuropes Jenny Priestley sits down with new SMPTE president Richard Welsh to discuss his aims for the organisation going forward, its efforts to attract a you...

12/03/2025

Warner Bros Belgium takes a new approach to its post production workflows

The new process has significantly enhanced operational efficiencies, with automation freeing up creators to concentrate on higher value tasks By Matthew Corrig...

12/03/2025

Another VFX company suspends operations

Jellyfish Pictures, which has offices in London and Sheffield, said it has been battling hard in the face of strong headwinds over the last 12 months By Jenny ...

12/03/2025

Bitcentral to Showcase AI-Powered Innovations for Smarter...

Visit Booth #W2213 to Experience the Latest in AI-Driven Content Discovery and Workflow Automation Bitcentral, a leader in media workflow solutions, is set to ...

12/03/2025

Jeff Lilly Named WGN-TV Director Of Technology

CHICAGO Jeff Lilly has been named WGN-TV director of technology effective March 17, 2025, according to Ric Harris, WGN-TV vice president and general manager....

12/03/2025

Survey: Consumers Want More Shoppable TV Experiences

MOUNTAIN VIEW, Calif. A new study from LG Ad Solutions indicates that consumers want more features that would allow them to shop for products on the connected T...

12/03/2025

IP Showcase To Focus On IP, Broadcast Tech Convergence at 2025 NAB Show

BOTHELL, Wash. The Alliance for IP Media Solutions (AIMS), Advanced Media Workflow Association (AMWA) and the Video Services Forum (VSF) will once again present...

12/03/2025

Comcast Boosts Internet Speeds for More Than 20 Million Customers

PHILADELPHIA Comcast announced that it has upgraded Xfinity Internet speeds for more than 20 million customers for no additional cost....

12/03/2025

Create with Maxon: Cinema 4D Fundamentals Workshop - March 12-14

Create with Maxon: Cinema 4D Fundamentals Workshop - March 12-14 Brie Clayton March 11, 2025 0 Comments Makin' Waffles with Elly Wade During Marc...

12/03/2025

Ross Video Strengthens Cloud Leadership with Appointment of Aaron Tunnell

Ottawa, Canada - March 12, 2025 - Ross Video is pleased to announce the appointment of Aaron Tunnell as Business Development Director, Cloud Solutions, reinforc...

12/03/2025

VEON to release 4Q 2024 trading update on 20 March 2025

12 Mar 2025 VEON to release 4Q 2024 trading update on 20 March 2025 Dubai, 12 March 2025 - VEON Ltd. (NASDAQ: VEON), a global digital operator, today confirms ...

12/03/2025

Getting Set for the Winter Olympics: Inside SVT's Ongoing Software-Based Production Evolution

Getting set for the Winter Olympics: Inside SVT's ongoing software-based pro...

12/03/2025

Seamless SMPTE 2110: A Discussion on Making the Move to IP Less Painful

Seamless SMPTE 2110: A Discussion on Making the Move to IP Less Painful Leaders from Netflix, Monumental Sports & Entertainment, LinkedI, and Megapixel address ...

12/03/2025

Opening Doors of Perception: Meta's Ajit Ninan on Rethinking AR/MR Perceptual Displays

Opening Doors of Perception: Meta's Ajit Ninan on Rethinking AR/MR Perceptua...

12/03/2025

Sky Sports Unveils Exciting Plans for 2025 Formula 1 Coverage

With the 2025 Formula 1 season set to begin in Melbourne on March 16, Sky Sports is gearing up to deliver its most comprehensive F1 coverage yet. Following a th...

12/03/2025

Unicanal and Trece TV revolutionize Digital TV in Paraguay with Rohde & Schwarz transmission solutions

Unicanal and Trece TV revolutionize Digital TV in Paraguay with Rohde & Schwarz ...

12/03/2025

Honoring Service, Celebrating Sport: Rohde & Schwarz UK Sponsors NavyFit Rugby Double-Header

Honoring Service, Celebrating Sport: Rohde & Schwarz UK Sponsors NavyFit Rugby D...

12/03/2025

FOR-A America Introduces Top of the Line HANABI Series Switcher at NAB 2025 Exhibition

New HVS-Q12 Represents a Quantum Leap in Switcher Design...

12/03/2025

Telespazio and ABS Expand Partnership to Deliver Tailored C-Band Connectivity Solutions for the Brazilian Market

Telespazio and ABS Expand Partnership to Deliver Tailored C-Band Connectivity So...

12/03/2025

Congratulations to all our clients who have achieved TAG certification through our independent validation

ABC conducts independent audits across the TAG programs. In the March 2025 TAG s...

12/03/2025

Moonlight: Thales Alenia Space to develop the space segment of the navigation system orbiting around the Moon

Facebook Twitter LinkedIn Moonlight: ESA program to create a satellite con...

12/03/2025

Thales among the world's top 100 most innovative companies for the 12th year, according to Clarivate

Facebook Twitter LinkedIn In 2025, Thales ranks among the top 0.01% of the...

12/03/2025

CCPC sponsored TV series The Complaints Bureau returns to RT One

Consumer show back following hugely successful first series 10 March 2025 Following a hugely successful first series, The Complaints Bureau returns to RT ...

11/03/2025

Give Me the Backstory: Get to Know Amel Guellaty, the Writer-Director of Where the Wind Comes From

By Lucy Spicer One of the most exciting things about the Sundance Film Festival...

11/03/2025

Salsa's Rhythmic Revival: A New Generation Discovers the Genre's Timeless Appeal

Salsa is making a comeback, captivating new listeners with its infectious energy...

11/03/2025

Canada's Own Rupi Kaur Curates the Latest Edition of Local Spot, Revealing the Songs and Artists That Shaped Her

For many people, music can serve as a reflection of their roots and upbringing. ...

11/03/2025

ST Engineering iDirect's Public Safety Solution Wins MSUA Satellite Mobile Innovation Award 2025

The solution delivers reliable, scalable and secure connectivity for critical pu...

11/03/2025

Weigel Broadcasting Taps Harmonic for Cloud-Based Playout-to-Delivery

SAN JOSE, Calif. Harmonic has announced that Weigel Broadcasting has deployed Harmonics VOS Media Software, which offers playout-to-delivery capabilities, inclu...

11/03/2025

Wheatstone To Unveil Linux Audio Driver At 2025 NAB Show

NEW BERN, N.C. Wheatstone will introduce a Linux audio driver for its WheatNet IP audio network during the 2025 NAB Show, April 5-9, at the Las Vegas Convention...

11/03/2025

Study: Women's Sports Are a Big Win for Advertisers

NEW YORK A new study finds that as TV viewership for women's sports surged by 131% in 2024, the programming also saw a 56% year-over-year increase in ad im...

11/03/2025

Al Sharqiya prepares for Ultra HD with FOR-A

Powerful switcher for news studio FOR-A, a cutting-edge video broadcast technology company backed by more than 50 years experience, has installed its HVS-1200 ...