What They Say
Bellwether A/V stock Barco updated on its results for the third calendar quarter of the year and saw a continuing post-Covid recovery. Orders were up 8% on Q3 2021 to €242 million, bringing the YTD total to €751.2 million, up 9%. Sales were €262.2 million for the quarter, up 40% on last year and were €734.9 million for 2022 YTD, up 33%.
There continue to be supply chain constraints but these were not as bad as in Q2 and sales growth was across all divisions. Order intake for Entertainment was particularly strong. For the year, the firm expects 25% or more growth and EBITDA growth of 10%-12%.
What We Think
Looking back to the last pre-Covid year of 2019, the sales result in Q3 was €266.9 million – so almost identical for the quarter, although YTD in 2019 was €763.4, so that was better in 2019. Still, it’s good to see the AV sector getting back to pre-pandemic levels. (BR)
|
(in millions of euro)
|
3Q22
|
2Q22
|
1Q22
|
4Q21
|
3Q21
|
Change 3Q22 vs 3Q21
|
|
Orders
|
242.0
|
262.3
|
246.9
|
288.1
|
225.1
|
8%
|
|
Sales
|
262.2
|
266.4
|
206.3
|
251.6
|
186.7
|
40%
|
