Barco releases annual financial report
Barco has released its annual financial report for the fiscal year ending on December 31st, 2022. The company reported earnings of 804.3 million Euros (approximately $890.9 million USD), representing a 4.0% increase year-over-year. The company estimates that 31% of its revenues came from environmentally friendly products on its Barco ECO label. Barco reported EBITDA of 58.5 million Euros (est. $64.8 million USD), an estimated 7.3% of sales, and 287.5 million Euros ($318.6 million USD) in gross profit. The company attributes its growth to its ability to adapt to the evolving Covid-19 (coronavirus) pandemic through consolidation and improvements in efficiency.
Balance Sheet|New Activity|ESG|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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