Barco Reports Sales Decline, but Uptick in Orders

Barco announced today that incoming orders booked in 4Q 2008 were at 203.9 million euro, up 11.1 percent compared to 4Q 2007. Sales declined to 207.9 million euro, down 6.6 percent compared to the same period of 2007. EBIT for the quarter was minus 24.2 million euro after restructuring and impairment provisions. Before the same provisions EBIT was minus 2.0 million euro.

Sales of continuing operations for the entire fiscal year 2008 were 725.3 million euro, down 1.5 percent to FY07, whereas incoming orders declined with 2.7 percent to 762.6 million euro in FY08. EBIT for FY08 was 8.9 million euro before restructuring and impairment charges, down almost 50 million euro from FY07. Restructuring and impairment charges booked amounted to 26.7 million euro.

Working capital was reduced with 35.8 million euro and net debt with 20 million euro to 32.8 million.

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