Sony Pixel Power calrec Sony

TRADING UPDATE 1Q21

21/04/2021

TRADING UPDATE 1Q21 Regulated information - Inside information Strong orderbook offers encouraging signs of recovery

Kortrijk, Belgium, 21 April 2021, 7:30 am Today Barco (Euronext: BAR; Reuters: BARBt.BR; Bloomberg: BAR BB) announced results for the first quarter ended 31 March 2021.

Financial highlights 1Q211

Orders of 228.9 million, an increase by 21% versus 4Q20 and 10% vs 1Q20

Orderbook at 351.5 million, up 25% (or 70 million) vs 4Q20 and up 3% (or 10 million) vs 1Q20

Sales of 171.7 million, a decline of 12% versus 4Q20 and 27% vs 1Q20

Executive summary 1Q21

Group topline

Compared to 4Q20, orders grew 21% to 228.9 million euro, driven by strong order intake in Healthcare and Entertainment, indicating recovering economic activity, and continuing a trend of quarter-to-quarter improvement from the 2Q20 low.

Orderbook grew solidly with 70 million euro to 351.5 million euro compared to year-end 2020. Sales were down 12% versus 4Q20 reflecting the continued impact from covid-lockdowns on orders to sales conversions in most of the regions.

Compared to the same period last year, before lockdowns took effect in all regions, orders were down 10% and sales declined 27%. Orderbook however grew 10 million euro versus 1Q last year.

Entertainment

(in millions of euro)

1Q21

4Q20

Change 1Q21 vs 4Q20

3Q20

2Q20

1Q20

Change 1Q21 vs 1Q20

Sales

55.7

77.3

-28%

58.0

56.5

99.7

-44%

While the Entertainment division saw a meaningful uptake in orders in the first quarter, sales for the division were down versus 4Q20.

New build cinema opportunities globally continued to expand resulting in solid order intake growth versus 4Q20.

In China pent-up demand for cinema entertainment drove box-office revenues over the past six months and translated into project orders and sales pick-up in the first quarter. Assuming box office revenues in Western countries start to recover this summer, we expect to see evidence of growth toward the end of the year.

The recently signed long-term frame agreement2 with IMAX offers a strong proof of confidence in industry fundamentals and in the shift to laser projection.

Venues and Hospitalities posted good order intake versus 4Q20 with sizeable uptakes across different regions mainly driven by demand for immersive digital art experiences by museums and fixed AV installations. Sales however were below 4Q20 as a result of seasonality effects.

Enterprise

(in millions of euro)

1Q21

4Q20

Change 1Q21 vs 4Q20

3Q20

2Q20

1Q20

Change 1Q21 vs 1Q20

Sales

52.5

53.9

-2%

50.0

45.6

67.2

-22%

Enterprise delivered 1Q21 topline results in line with 4Q20.

ClickShare started the year with increases in both orders and sales compared to 4Q20 driven by uptakes in the EMEA region despite lockdowns during the quarter. As lock-down measures ease and offices plan to reopen in hybrid mode, ClickShare demand is expected to continue to improve, while varying by country and region.

ClickShare Conference now constitutes 40% of the ClickShare sales, and Barco continues to sign-up new channel and alliance partners and key corporate customers, testifying to its product-market fit.

Control rooms started the year with better sales compared to the three first quarters of 2020 and an orderbook at pre-covid levels. Sales for 1Q21 were softer than 4Q20 reflecting some seasonality effects and covid-induced deployment shifts.

Healthcare

(in millions of euro)

1Q21

4Q20

Change 1Q21 vs 4Q20

3Q20

2Q20

1Q20

Change 1Q21 vs 1Q20

Sales

63.5

64.3

-1%

59.3

69.4

68.8

-8%

The Q1 dynamics reflect resilience in end market demand, a gradual resumption of healthcare investments, and intensified demand for digital operating room solutions.

Order intake was strong compared to 4Q20 across all regions, including major contracts with reference customers in both the Surgical and the Diagnostics segments.

Sales were in line with 4Q20, with deployments in Europe and the Americas region still somewhat impacted by the prolonged effects of the pandemic.

Quote of the CEO, Jan De Witte

I'm pleased with the strong first quarter order intake and the solid orderbook as they reflect ongoing recovery, longer term growth potential in our end markets as well as our competitive strength. While over the next few quarters, our order to sales conversion will not be immune to lock-down effects and supply chain disruptions, we are set to manage through these hurdles, and to advance on our strategic objectives.

As a result, we expect to see steady improvements as recoveries in our markets further materialize, said Jan De Witte, CEO.

Outlook

The following statements are forward looking, and actual results may differ materially.

While full year visibility remains limited, based on 1Q21 results, and assuming further unlocking of economies, management is confirming its 1H outlook, with topline expected to move toward the first half of 2020 and EBITDA margin expected to be in the mid-plus single digit range.

Order intake & order book

Order intake year-over-year

(in millions of euro)

1Q21

1Q20

Change 1Q21 vs 1Q20

Order Intake

228.9

253.7

-10%

Excluding currency effect

-6%

Order intake quarter-over-quarter

(in millions of euro)

1Q21

4Q20

3Q20

2Q20

Change 1Q21 vs 4Q20

Order Intake

228.9

189.7

157.6

145.0

+21%

Order book

(in millions of euro)

31 Mar 2021

31 Dec

2020

30 Sep

2020

30 Jun

2020

31 Mar

2020

31 Dec

2019

Order book

351.5

281.5

299.1

317.2

341.8

322.3

Sales

Sales year-over-year

(in millions of euro)

1Q21

1Q20

Change 1Q21vs

1Q20

Sales

171.7

235.7

-27%

Excluding currency effect

-24%

Sales by division year-over-year

(in millions of euro)

1Q21

1Q20

Change 1Q21 vs 1Q20

Entertainment

55.7

99.7

-44%

Enterprise

52.5

67.2

-22%

Healthcare

63.5

68.8

-8%

Group

171.7

235.7

-27%

Sales by division qu
LINK: https://www.barco.com/en/News/Press-releases/TRADING-UPDATE-1Q21.aspx...
See more stories from projectdesign

Most recent headlines

05/01/2027

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be demoed at CES 2026

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...

04/08/2026

Dalet Announces Commercial Availability of Dalia, Bringing Media-Aware Agentic AI to Enterprise Productions

Dalet, a leading technology and service provider for media-rich organizations, t...

04/07/2026

Detective Conan: Fallen Angel of the Highway Opens in Dolby Cinemas Across Japan, Presented in Dolby Atmos and Dolby ...

April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...

01/06/2026

Dolby Sets the New Standard for Premium Entertainment at CES 2026

January 6 2026, 05:30 (PST) Dolby Sets the New Standard for Premium Entertainment at CES 2026 Throughout the week, Dolby brings to life the latest innovatio...

14/05/2026

Sweetwater and Airstream Unveil Mobile Dolby Atmos Recording Studio

Sweetwater and Airstream have announced a custom-built Dolby Atmos mobile recording studio inside an Airstream trailer, set to tour music festivals, schools, tr...

14/05/2026

American Association of Professional Baseball Expands Broadcast Distribution for 2026 Season

The American Association of Professional Baseball (AAPB) has announced a new par...

14/05/2026

ESPN to Establish Week-Long Super Bowl LXI Broadcast Center on Santa Monica Beach

ESPN has announced plans to transform Santa Monica Beach into a broadcast hub du...

14/05/2026

Amagi Announces Major Upgrade to CLOUDPORT Cloud Broadcast Platform

Amagi has announced a significant update to Amagi CLOUDPORT, its cloud-based broadcast playout platform. The update includes 250-plus features shipped in FY25-2...

14/05/2026

Clear-Com to Showcase New Products and Platform Updates at InfoComm 2026

Clear-Com will exhibit at InfoComm 2026 (Booth N7005, June 17-19, Las Vegas Convention Center), introducing a new product that builds on Arcadia Central Station...

14/05/2026

Ikegami to Exhibit at BroadcastAsia 2026 with Two New Viewfinder Premieres

Ikegami will exhibit at BroadcastAsia 2026 (Stand 5D3-1, Singapore Expo, May 20-22), introducing two new viewfinders alongside its existing camera, control, and...

14/05/2026

dB Broadcast Delivers IP-Based OB Trucks for Cloudbass Featuring Grass Valley LDX 100 Cameras

Grass Valley has announced that dB Broadcast has delivered new IP-based outside ...

14/05/2026

NAGRAVISION and WPBSA Launch Play Snooker Digital Platform

NAGRAVISION, a Kudelski Group company, has announced a partnership with the World Professional Billiards and Snooker Association (WPBSA) to launch Play Snooker,...

14/05/2026

Belden To Acquire RUCKUS Networks for Approximately $1.85 Billion

Belden Inc. has announced a definitive agreement to acquire RUCKUS Networks from Vistance Networks for approximately $1.85 billion. The transaction has been app...

14/05/2026

NVIDIA Releases Content Localization Blueprint for AI-Assisted Dubbing and Speech Translation

NVIDIA has released the Content Localization Blueprint, a modular reference arch...

14/05/2026

Disney+ To Stream Banana Bowl Championship Live This October

Disney has announced that Disney will be the exclusive U.S. streaming home of the Banana Bowl, the Banana Ball league season championship, streaming live this ...

14/05/2026

Arkona and Manifold To Exhibit on Magna Systems Stand at BroadcastAsia 2026

Arkona technologies and technology partner manifold will demonstrate their production solutions on the Magna Systems and Engineering stand (Booth 5D1-1) at Broa...

14/05/2026

Haivision Webinar: New Broadcast Contribution Products Featuring Minor League Baseball Case Study

Haivision will host a webinar on Thursday, May 21 at 10 a.m. ET / 4 p.m. CET cov...

14/05/2026

The CW Network and ESPN Announce ACC Sublicense Agreement Through 2030-31 Season

The CW Network and ESPN have announced a sublicense broadcast agreement for The CW to televise ACC football and men's and women's college basketball gam...

14/05/2026

Detroit Pistons Ink Local Media Rights Deal With Scripps Sports

The agreement marks Scripps Sports' first NBA local rights deal...

14/05/2026

Report: Broadcasting Among Hardest-Hit Industries as AI Reshapes the Workforce

A new report from education-technology company Wiingy testing post-ChatGPT predictions against three years of real-world data has identified broadcasting as one...

14/05/2026

Madonna, Shakira, and BTS to Headline First-Ever FIFA World Cup Final Halftime Show

Global Citizen and FIFA have announced that Madonna, Shakira, and BTS will headl...

14/05/2026

Sundance Institute Names 2026 Episodic Lab Fellows

LOS ANGELES, CA, May 14, 2026 - The nonprofit Sundance Institute announced today the cohort selected for the 2026 Episodic Lab program, taking place at Dunaway ...

14/05/2026

Spotify Expands Music Access for Young Listeners, Extending Managed Accounts to Free Tier

At Spotify, we're focused on making every listening experience feel intentio...

14/05/2026

Spotify Brings Nashville's Songwriting Community Together for Mental Health Summit

Spotify recently welcomed songwriters, artists, executives, and music students t...

14/05/2026

Sonuscore update Lux Orchestral Strings

New articulations, ostinatos, Motion Scoring Articulation Sets & more Sonuscore's flagship cinematic string library has just been treated to a significa...

14/05/2026

Pr Recording & Residence

World-class studio opens on T rkiye's Aegean coast P r Recording & Residence have announced their official opening, introducing a new world-class reside...

14/05/2026

Nugen Audio update DialogCheck

Now supports channel layouts up to 9.1.6 Nugen Audio have just released an update for their AI-powered dialogue intelligibility and compliance tool. Set to ...

14/05/2026

UVI release Orchestral Suite 2

New recordings & one-key chord tool UVI have just announced the release of Orchestral Suite 2, a ground-up redesign of their all-in-one symphonic orchestra ...

14/05/2026

Rob Papen launch eXplorer 11

Two new arrivals & expanded factory content Rob Papen's all-encompassing plug-in and virtual instrument collection has just been treated to another upda...

14/05/2026

FSK Audio release QRonicle

Embed QR codes into DAW sessions FSK Audio's latest plug-in doesn't process audio, but serves as an organisational tool that allows QR codes to be e...

14/05/2026

SBS Board appoints Jane Palfreyman Managing Director

SBS Board appoints Jane Palfreyman Managing Director 13 May, 2026 Media releases The Special Broadcasting Service (SBS) Board of Directors is pleased to an...

14/05/2026

Transforming bold ideas into market-ready productions: Digital Originals returns

Transforming bold ideas into market-ready productions: Digital Originals returns 14 May, 2026 Media releases SBS, NITV and Screen Australia have announced ...

14/05/2026

Australia Uncovered Returns to SBS with Bold New Season Featuring John Safran on Free Speech and Powerful Stories of Justice and Survival

Australia Uncovered Returns to SBS with Bold New Season Featuring John Safran on...

14/05/2026

Rohde & Schwarz transforms spectrum complexity into situational awareness and effective countermeasures at AOC Europe 2026

Rohde & Schwarz transforms spectrum complexity into situational awareness and ef...

14/05/2026

Rohde & Schwarz and Quantum Systems join forces to redefine EW and C-UAS-enabled uncrewed operations

Rohde & Schwarz and Quantum Systems join forces to redefine EW and C-UAS-enabled...

14/05/2026

Rohde & Schwarz showcases STANAG aligned ARDRONIS Counter UAS capability at NATO Technical Interoperability Exercise 2026

Rohde & Schwarz showcases STANAG aligned ARDRONIS Counter UAS capability at NATO...

14/05/2026

Code of Silence wins Best Drama Series at the 2026 BAFTA's!

Code of Silence has won the BAFTA for Best Drama Series at Sunday night's ceremony at the Royal Festival Hall. The series, starring Rose Ayling-Ellis and w...

14/05/2026

The Wraith Shield Advantage: Transforming L3Harris Radios into AI-Enabled Counter-UAS Sensors

Soldiers equipped with Falcon IV radios will soon gain a sense-and-protect capa...

14/05/2026

Getting into the Space Nuclear Power Game with Next-Generation Technology

Artists concept of the L3Harris Next Gen RTG in flight configuration, designed to provide 250 watts of reliable power for decades-long missions in deep space....

14/05/2026

Vivid Broadcast builds remote production network around Calrec

Vivid Broadcast was embracing remote production long before it became the industry norm. Now, with Calrec's True Control 2.0-enabled Argo M and Type R conso...

14/05/2026

Nielsen data shows NZ vehicle advertisers are shifting gears as fuel pressures make EVs and hybrids an increasingly attractive option

Car ad spend rises sharply in March as more auto buyers turn to electric, hybrid...

14/05/2026

Is This the Year for Agentic AI's Breakout in Broadcast?

Share Copy link Facebook X Linkedin Bluesky Email...

14/05/2026

CBS LA, Los Angeles Rams Ink New TV Deal

Share Copy link Facebook X Linkedin Bluesky Email...

14/05/2026

CueScripts CueiT 4 0 Wins Futures Best of Show Award Pres...

CueScript's CueiT 4.0 Wins Future's Best of Show Award, Presented at 2026 NAB Show by TV Tech CueScript, a leading international developer of professio...

14/05/2026

Expert-Led Education Sessions and Development of Online T...

Expert-Led Education Sessions and Development of Online Training Program Accelerate IPMX Adoption and Deployment The Alliance for IP Media Solutions (AIMS) to...

14/05/2026

Klvr rechargeable battery launches in the USA to cut cost...

Klvr is launching in the United States with a professional-grade rechargeable battery solution that cuts costs and improves performance across live entertainmen...

14/05/2026

Shooting into the depths of Bedlam with URSA Cine 17K 65

Shooting into the depths of Bedlam with URSA Cine 17K 65 Brie Clayton May 14, 2026 0 Comments Indie feature film paired digital 65mm capture with a Bl...

14/05/2026

WeMakeColor expands with Baselight, becoming hybrid color facility

WeMakeColor expands with Baselight, becoming hybrid color facility Caroline Shawley May 14, 2026 0 Comments Boutique Mexican-based studio integrates B...

14/05/2026

Berklee's Summer in the City Returns with Free Concerts Throughout Boston Area

Berklee's Summer in the City Returns with Free Concerts Throughout Boston Ar...

14/05/2026

Chelsey Green Named to Billboard's 2026 Women in Music List

Chelsey Green Named to Billboard's 2026 Women in Music List The Berklee professor and chair of the Recording Academy Board of Trustees joins other high-pr...