Barco Nv (BCNAF) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen. Welcome to this conference call for Barco's first half results for 2024. My name is Willem Fransul. I'm here in the room with our co-CEOs, Charles Baudouin and Ann Stegen, and also with our CFO, Anne Sender. Anne Stegen and Anne Sender will take us through the presentation of the results this morning. And this presentation is also available on our investment portal on the website. After the presentation, there will be time for questions. I would now like to give the word to Om to take us through the slides. All right. Thank you, Willem. And good morning, everybody. I'm going to start with a summary of our first semester results. For sales, we landed at 434.5 million, which is about 16.6% lower than last year. We do see sales significantly picking up already in the second quarter, especially in the Americas, where we actually see for the second quarter year-over-year sales growth. Order book is at record high, 533 million, and that includes already orders for new product launches that are still going to come in the second half of this year. Book-to-bill, more than one. And also eco-labeled, so revenue coming from eco-labeled products increased with four percentage points to 64% of the total revenue. EBDA landed at 35 million, which is 8.1% of sales and 4.4% lower than the first half of last year. Gross profit margin was pretty resilient. So we actually saw improvements in healthcare and entertainment. but that was offsetted with a decline in enterprise because of the lower click-sharing sales. OPEX is under control. R&D, we kept on investing to support, of course, new product introductions for the second half of the year. Free cash flow landed about 15 million. That is a step up of more than 38 million since last year, and the net i...