August 2023 www.avnewsonline.com
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Hospitality - on the road to recovery
How to win an AV News Award!
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The hospitality industry in the United Kingdom has always been dynamic and ever-changing, driven by evolving consumer preferences
With nominations for the 2024 AV News Awards now open, it is now time now the time to plan your Awards strategy to give you the best chance of success.
Barco first half sales up 10% LG to transform to ‘Smart Life’ solutions business
Results highlights
• Orders 1H23 of 541.1 million euro, an increase of 6% vs 1H22 • Orderbook at 505.8 million euro, 9.3 million euro higher than year-end 2022 • Sales 1H23 of 520.9 million euro, an increase of 10% versus 1H22 • EBITDA 1H23 of 65.0 million euro, or 12.5 % of sales versus 9.8% of sales in 1H22 • Sales 2Q23 of 273.9 million euro, 3% higher than 2Q22 and 11% higher than 1Q23 Executive summary Sales 520.9 472.6 366.0 407.2 10% www.barco.com Barco Group’s orders and sales both grew to record levels for the first semester. In the first half of the year, orders increased 6% versus the first half of 2022. Growth was driven by a particularly strong demand in Entertainment. Order growth in Entertainment and Enterprise was offset by HealthCare where order intake declined compared to a strong 1H22. With a positive book-to-bill ratio in 1H23, the orderbook expanded to 505.8 million euro. Sales grew to 520.9 million euro, a year-over-year increase of 10% and representing an all-time high for a first semester at Barco. Sales growth was driven by both business units in the Entertainment division, and also by Meeting Experience. Sales grew in APAC, Americas and, most
pronounced. in EMEA. In China specifically, sales declined as the recovery in economic activity from the pandemic is taking longer than expected. Within the first semester, after a strong year-over-year sales growth in the first quarter, sales grew at a
level, while, notably, sales of digital pathology displays grew. Surgical and Modality had a soft start to the year, both in order intake and sales, due to a timing difference between phasing out and phasing in of large contracts, notably in Americas, and
LG Electronics (LG) declared its vision to transform from its current position as a top global home appliance brand to a “smart life solutions company”. It plans connect and expand
while driving for global annual revenues of KRW 100 trillion by 2030. In a landmark speech at the LG Sciencepark in Seoul, South Korea, CEO William Cho outlined the bold vision built on
ing new platform-based service businesses through advancement of business portfolio, accelerating business-to-business (B2B) and exploring new business areas such as electronic
Co-CEOs of Barco An Steegen and Charles Beauduin: “We are very pleased that Barco reached all-time high sales during the first half of this year. We delivered on the particularly strong demand in the Entertainment markets. ClickShare continued to thrive on the hybrid conferencing momentum.” slower rate in the second quarter as this is compared to a stronger quarter last year, when demand surged after the pandemic. The decline in the Healthcare sales and order intake is compared to the record-high levels of the first half of 2022. In Diagnostic Imaging, a normalization of customer investment levels following government-supported spending during the pandemic resulted in a slight dip in order intake levels. Diagnostic Imaging sales approached last year’s
higher customer inventories. In all other regions, orders and sales grew in the mid-single digit range. In the Enterprise division, order intake increased 4% versus the same semester in 2022, with both business units registering gains. Enterprise sales were close to last year’s level, reflect-
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LG CEO William Cho outlined a bold vision built on three growth engines: pursuing new platform-based service businesses through advancement of business portfolio, accelerating business-to-business (B2B) and exploring new business areas such as electronic vehicle charging and digital health. customers’ diverse experiences
three growth engines: pursu-
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