Barco - No disappointment on outlook
• Barco's FY23 results were in line with expectations with Healthcare still remaining the main issue.• Order book in Enterprise & Entertainment is solid, boding well for the future.• Outlook for FY24 aims for stable sales and margins at >14%, ahead of CSS (14.0%) which is clearly a relief – BUY reiteratedBarco operates in three divisions: Entertainment, which delivers projection, lighting, LED and software solutions for markets such as cinema, venues, and hospitality and the retail and advertising; Enterprise, which targets the corporate and the control rooms market and provides a portfolio of visualization solutions with videowalls, corporate projectors in combination with collaboration software and networking and connectivity capabilities; and Healthcare, which delivers displays for the diagnostic and modality imaging market, including segments such as radiology, mammography, surgery and dentistry along with digital networked solutions for the operating room and point-of-care devices.
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