Barco's results for the first half of 2025 has shown a 5% growth in orders and sales, driven largely by a recovery in EMEA.
Order intake amounted to €487.5 million and grew steadily despite challenging geopolitical market conditions and tariff policy uncertainties. This is an increase of 5% year-over-year, led by a growth in EMEA of 27%. Entertainment and Healthcare had strong demand and Meeting Experience improved on a rebound in ClickShare demand after last year's channel inventory corrections. In 1H25, the orderbook expanded to €548.4m, up 3% year-over-year.
Sales grew 5% to €454.4m, led by a 10% growth in Entertainment, reflecting strong performances in both its business units, and a good momentum overall in EMEA. Healthcare's growth of 5% was driven by Surgical and Modality, and in particular its surgical software portfolio. Enterprise declined 5%, with a notable contrast between the recovery for ClickShare and a decline in hardware for Control Rooms. Growth was recorded in both the Americas and EMEA, with EMEA outperforming in Entertainment and the Americas in Healthcare.
In the Healthcare division, orders and sales were up 15% and 5% respectively, reflecting steady growth throughout the semester. Surgical & Modality saw good demand in EMEA and the Americas, reflecting in both orders and sales. This was partially offset by a weaker performance of the Asian markets, notably in China. The business unit continues to focus on value add software and workflow systems. Diagnostic Imaging had a slower first semester but saw solid demand and growing orderbook toward the end of the second quarter. This included nice wins for its digital pathology portfolio and the new flagship OneLook breast imaging display, in both the Americas and EMEA.
Enterprise reported a small decline in orders and sales overall, but with a strong contrast between its two business units. Meeting Experience performed well with double-digit growth in orders and sales as channel inventories normalised after last year's corrections. ClickShare has a largely stable market share in a declining market. Meanwhile, Barco launched ClickShare Hub, a modular video conferencing room system. The ClickShare Hub, Barco’s first device developed on the MDEP platform, is scheduled to begin shipping toward the end of 2025.
Control Rooms faced severe headwinds in 1H25, as uncertainties in the US market linked to tariffs and the DOGE program caused a slowdown in decision-making for government-related projects. In addition, hardware-focussed projects, primarily LED in the Middle East, faced increased price competition. The Barco CTRL software solution continued to grow and is accounting for an increasing proportion of sales.
Entertainment experienced great momentum during the first half of 2025 and reported double-digit sales growth. The market circumstances in Cinema have steadily improved since the second half of 2024, with a strong movie slate, and a clear trend towards premium cinema experiences. Barco witnessed a strong resumption of the cinema investment cycle, after a long disruption during to the pandemic and its aftermath. In the first quarter, Barco signed several major frame contracts for laser cinema projectors, fueling orders for laser projectors in the next years.
During the second quarter, this positive momentum continued with the signing of the first HDR lightsteering contracts in all three regions. This is supported by an impressive HDR movie slate. Also Immersive Experience performed well across regions during the first semester, driven by the renewed product portfolio, and by market share gains in the mid-segment of the market. The Encore 3 image processing platform started shipping in June 2025 and also contributed to the growth, while maintaining a solid orderbook for the second half of the year.
“In the first half of 2025, Barco delivered solid topline and EBITDA growth, driven by a strong performance in Entertainment, steady growth in Healthcare and a return to normalized channel inventory levels of ClickShare. We were happy to see that our new product introductions and embedded software solutions are contributing materially to the order and sales flow, including first orders for HDR lightsteering cinema projectors in all 3 regions. We navigated a complex environment marked by geopolitical uncertainty and the impact of new US tariffs. Despite these challenges, we maintained commercial momentum, strengthened our orderbook, and continued to execute on our strategic priorities. I’m proud of how our teams responded with agility and focus, positioning us well for the remainder of the year.”