Barco heads for worst day in 14 months after 2021 EBITDA target cut
22/12/2021 08:17
** Shares in Barco BAR.BR fall about 7.9% and are heading
for their worst day in 14 months, after the Belgian visual
technology company cut its 2021 EBITDA guidance citing supply
chain disruptions urn:newsml:reuters.com:*:nFWN2T60LS
** EBITDA for the year is now expected to be in the range of
56 to 60 millions euros (63.1-67.6 million dollars) versus a
consensus at 67.7 million euros, KBC Securities notes
** The company guided earlier for a 2021 EBITDA margin above
7.5%, and it is now expected to be below that figure
urn:newsml:reuters.com:*:nFWN2RF1DN
** However, sales for 2021 are expected to grow mid-single
digit year-over-year, in line with earlier guidance, the company
added
** "Hold and 22 euro target price maintained as the COVID-19
pandemic has revealed a number of weaknesses including a fragile
supply chain, an underleveraged value chain, an insufficient
presence in China, a complex organizational structure and an
unbalanced set of R&D investments", KBC says
($1 = 0.8874 euros)
(Reporting by Kate Entringer)
((kate.entringer@thomsonreuters.com))