Report
Guy Sips

Barco Enterprise at WARP Speed

We updated our model as we think Barco is turning the corner in its recovery from the pandemic; with Enterprise at WARP speed. Strong demand for its product solutions drove sales to exceed pre-pandemic levels in 2Q22. We expect good momentum as for the second semester Barco claims to be well prepared to deliver steady sales growth and further improve margins on product mix and operational improvements. Assuming economic conditions and supply chain constraints do not further deteriorate and orders to sales conversion continues to improve in the second half of the year, Barco expects that sales for FY22 will increase approximately 25% compared to 2021 with an EBITDA margin between 10 to 12%.
Underlying
Barco NV

Provider
KBC Securities
KBC Securities

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Analysts
Guy Sips

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