Business results
Image technology group Barco achieved more profit last year with stable turnover. Shareholders can count on a higher dividend.
Source: belga
Yesterday at 09:50
Barco – manufacturer of cinema projectors but also active in medical imaging and control rooms – recorded a turnover of 1.05 billion euros, in line with the results for 2022. Double-digit growth in the Entertainment division, mainly driven by the Cinema division, was countered by a slight decline in the Enterprise division and a more pronounced decline in the Medical division (Healthcare).
Net profit rose from 75.2 million euros in 2022 to 80.2 million euros last year. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 142.5 million, an increase of 13 percent compared to 2022. The EBITDA margin (the ratio between EBITDA and turnover) reached 13.6 percent for the full year, an increase of 1.6 percentage points compared to last year. The gross profit margin improved by 2.8 percentage points year-on-year in 2023, to a record level of 41.8 percent.
“2023 was a challenging year in terms of the top line,” say CEOs An Steegen and Charles Beauduin. “The recovery from the pandemic in China has been slower than expected, and the Healthcare markets have been below expectations, partly due to higher than normal customer inventories. On the other hand, the Entertainment division performed very strongly, and Meeting Experience gained market share.”
For 2024, Barco expects turnover to be in line with 2023. From 2025 onwards, turnover is expected to grow again. A further improvement is expected for the EBITDA margin this year, to above 14 percent.
Barco wants to pay out a gross dividend of 0.48 euros per share for 2023, an increase of 0.04 euros compared to last year’s dividend of 0.44 euros.
(blg)
