Barco (BAR) Q1 2026 TU earnings summary

Executive summary

• Order intake for 1Q26 was €215.4 million, down 7% year-over-year, but flat at constant currencies, with Entertainment showing strength despite overall market challenges.

• Sales for 1Q26 were €180.6 million, a 15% decrease year-over-year, impacted by currency headwinds, delayed order conversion, and cautious customer decision-making.

• The order book increased 9% since year-end 2025, reaching €536.0 million, supported by strategic customer relationships and a growing share of software-driven solutions.

• CEO highlighted ongoing market uncertainty, especially in the US and Middle East, and emphasized cost discipline and strategic focus on areas with structural demand.

Financial highlights

• Order intake: €215.4 million in 1Q26 vs €232.0 million in 1Q25 (-7%); flat at constant currencies.

• Sales: €180.6 million in 1Q26 vs €211.6 million in 1Q25 (-15%); -8% at constant currencies.

• Positive book-to-bill ratio, with order book at €536.0 million at end of 1Q26, up from €492.8 million at year-end 2025.

Outlook and guidance

• Pace and timing of customer investments and order conversion remain uneven; full-year guidance may not be maintained if current macroeconomic and geopolitical conditions persist.

• Updated outlook, including VerVent Audio Holding integration, to be provided with 1H26 results.

• Long-term targets: organic growth toward €1.1 billion, 15% EBITDA margin, and 15% recurring revenues by 2028.