Half Year 2024 Barco NV Earnings Call Transcript
Key Points
- Barco NV (XBRU:BAR) reported a record-high order book of EUR533 million, indicating strong future demand.
- The company saw significant sales improvements in the Americas, with year-over-year growth in the second quarter.
- Gross profit margins improved in the healthcare and entertainment sectors, showcasing resilience despite challenges.
- Barco NV (XBRU:BAR) maintained control over operating expenses and continued investing in R&D for new product introductions.
- The company expects a strong recovery in EBITDA for the second half of the year, with a full-year target between 11% and 13%.
- Sales for the first half of 2024 were 16.6% lower than the previous year, indicating a challenging start.
- EBITDA decreased by 4.4% compared to the first half of last year, primarily due to lower sales volumes.
- The EMEA region remains weak, with delayed investments and slower decision-making impacting sales.
- APAC sales were down 13%, partly due to strategic market exits and a high comparison base from the previous year.
- The enterprise sector faced a decline in ClickShare sales, affecting overall gross profit margins.
Good morning ladies and gentlemen, welcome to this conference call for Barco's first half results for 2024. My name is Willem Fransoo, I'm here in the room with our Co-CEOs Charles Beauduin and An Steegen and also with our CFO, Ann Desender. An Steegen and Ann Desender will take us through the presentation of the results this morning and this presentation is also available on our investment portfolio website. After the presentation there will be time for questions.
I would now like to give the word to An Steegen to take us through the slides.
All right, thank you Willem and good morning everybody. I'm going to start with a summary of our first semester results. For sales we landed at EUR434.5 million which is about 16.6% lower than last year. We do see sales significantly picking up already in the second quarter, especially in the Americas where we actually see for the second quarter year-over-year sales growth.
Order book is at
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