Barco Nv (BCNAF) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen. Welcome to this conference call on Barco's full year results for 2023. My name is Willem-Francois. I'm heading investor relations, and today with me in the room are Charlotte Boudoin and Anstegen, our co-CEOs, and Anders Senders, the CFO. We are publishing our annual results today under the headline, Solid Profitability Improvement with Stable Top Line. Anstegen and Anders Senders will take us through the presentation this morning. And this presentation is also available on the portal on our website. After the presentation, there will be room for Q&A. And I would now like to give the word to Anstine to kick it off with the presentation. Thank you, Willem. Good morning, everybody. So I'll start with a summary of the group results for the full year 2023. So top line sales, we came in at 1 billion 50 million, which is in line with last year. We saw double-digit growth in entertainment, but our healthcare division was lagging, mainly because of the unusual high inventories at our customers. Book2Build remains positive, so we basically entered this year with a very solid order book of about 500 million, and 65% of our total revenue came from eco-label products, which is up from 50% last year. In EBDA margin, we landed at 13.6% of sales, which is 1.6 percentage points up compared to last year. And in the second half of 23, our EBDA margin was 14.6%. So we had a record high gross profit margin that mainly came from a very favorable product mix, but also, of course, an ease in our supply chain and focus actions when it came to the OPEX control. But of course, we continue to invest in our core initiatives throughout the year. Then our net income landed at 80 million, free cash flow at 38 million, and that is net after 11 million restructuri...