Corrected: BUZZ-Demand recovery in Q1 helps Barco shares
21/04/2022 08:45
(Corrects index in last bullet)
** Shares in Barco BAR.BR jump around 10% as the visual
technology company's Q1 orders, backed by demand recovery,
exceed expectations
** Barco reports Q1 orders at 246.9 million euros ($269.24
million), 9% above consensus (EUR 227.1 mln)
** "Continued demand recovery drove order growth," the
company said in a statement, pointing to, among others, positive
back-to-office dynamics in both EMEA and the Americas
** Shares are touching highest point since mid-Feb, and are
heading for their best day since early-Feb
** "All regions contributed to the growth except for the
APAC region in part due to the impact of lockdowns in China,"
the statement adds
** KBC notes a "very nice" order book expansion at end-Q1
standing at EUR 530.5 million, up 51% year-on-year
** "As demand recovers, Barco believes they are well
positioned to capture the growth opportunities across its
markets," says the broker
** Including Thursday's gain, the stock is up 13.8%
year-to-date, and is sitting on top of Belgium's mid-cap index
.BELM
($1 = 0.9170 euros)
(Reporting by Clement Martinot)
((Clement.martinot@tr.com))