Barco publishes 2020 results, sales down 29% on 2019

Barco has published its 2020 results, in the wake of the Covid-19 pandemic it has seen sales fall 29% on the previous year.

In the summary of the annual report it says that annual sales for 2020 were €770 million, down 29% against 2019, reflecting the impact of the covid-19 pandemic on its end-markets across all regions.

The gross profit margin for the year was down 3% to 37%, mainly due to an unfavorable product mix.

Q4 improved over Q3 including a 20% quarter-over-quarter recovery in order intake and 17% uptake in sales – with all divisions contributing to this progress.

Sales in 2020 were split in the following percentages across its three divisions;

38% Entertainment
28% Enterprise
34% Healthcare

Jan De Witte, CEO said: "In spite of our efforts and the many measures we took, we could not prevent our results from dropping steeply, as disruptions in supply chains and demand knocked demand off balance. But we are confidently poised for renewed growth when our key markets become fully active again, in the ‘new normal’."

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