In 2019, Barco’s sales amounted to 1,082.6 million euros, a growth of 9.5 percent compared to 2018. Net income rose 27.2 percent to 95.4 million. Furthermore, the Kortrijk-based imaging specialist recorded 1,102.2 million euros of incoming orders, a 9.8 percent increase. All divisions contributed to the solid performance. The order book as of end-December stood at 322.3 million euros, up 6 percent year-on-year.
Barco’s Entertainment division saw sales grow 11.3 percent, mainly driven by EMEA and North America. There, the company captured demand bolstered by the cinema replacement cycle, which began in 2019 as anticipated. In Enterprise, continued double-digit growth for the Clickshare wireless presentation and collaboration solution and low-single-digit growth for Control Rooms amounted to 6.8 percent sales growth. Healthcare posted a strong sales growth of 9.7 percent as a result of solid performances in both the diagnostic and the surgical segments.
During 2019, Barco executed on its “fit to lead” program, a capability-building and organization efficiency plan. The company initiated several initiatives, including expanding the channel network, services and partner programs, strengthening its software team and building a company-wide software platform with common components used across divisions.
“In 2019, we delivered on our ambition to resume top-line growth with sales increases in all business segments,” comments Barco CEO Jan De Witte. “In 2020, we plan to remain focused on capturing the growth opportunities in our markets based on a more competitive Barco, while continuing to invest in capabilities to grow into an outcome-based solutions business that leverages hardware, software and services capabilities. Our performance in 2019 and goals for 2020 keep us on our sustainable profitable growth path.”