The Kortrijk technology company Barco has an order book of 530 million euros, a fresh record. This is evident from the results for the first quarter. Nevertheless, the company continues to struggle with a faltering supply chain.
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Barco saw its turnover increase by 20 percent in the first three months of the year to 206.3 million euros. Orders rose by 8 percent to 246.9 million euros. The display specialist was able to benefit from a return to the offices, among other things.
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Still, the shortage of all kinds of components continues to hamper the technology company, resulting in delays in the conversion of orders into sales. The impact of this amounts to 25 million euros, according to the quarterly results.
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Barco speaks of a solid start to the year as demand continues to improve in all end markets. The company is well positioned to capitalize on the growth opportunities in the markets. “However, we are aware that supply chain disruptions can still hinder the pace of order-to-sales conversion and the recovery of our margins. However, we believe that the hard work and commitment that we put into day out, experienced in our organization to limit this impact, will gradually yield tangible results,” said CEOs An Steegen and Charles Beauduin.
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Barco confirms its outlook for the first half of the year, assuming that supply chain disruptions do not worsen further. The company expects a sales increase of approximately 20 percent compared to the first half of 2021. The EBITDA margin is expected to be higher than for the full year 2021.
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