Barco 'turns the corner in pandemic recovery,' shares rise
19/07/2022 08:38
** Shares in Barco NV BAR.BR rise about 4% as the Belgian
tech company expects a rise in FY sales and profitability after
its Q2 sales came above the pre-pandemic 2019 levels
** "Barco is turning the corner in its recovery from the
pandemic," says KBC Securities, noting the strong demand for its
products driving Q2 sales to pre-pandemic levels
** Barco reports Q2 sales at 266 mln euros ($270.71 mln) up
37% y/y, and 5% vs Q2 of 2019, with half-year orders at 509.2
mln euros beating consensus of 499.7 mln euros cited by KBC
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** In a newly provided outlook, it sees FY sales rising
about 25% y/y, with EBITDA margin seen at 10-12% urn:newsml:reuters.com:*:nFWN2YZ26C
** In February, Barco said it couldn't provide FY outlook
due to limited visibility and unpredictable business conditions
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** Share on track for a best day since mid-April, with share
price highest in about a year
($1 = 0.9826 euros)
(Reporting by Olivier Sorgho)
((Olivier.sorgho@thomsonreuters.com))