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26 April 2006, page 1 Company Confidential Results 1Q06 26 April 2006.

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Presentation on theme: "26 April 2006, page 1 Company Confidential Results 1Q06 26 April 2006."— Presentation transcript:

1 26 April 2006, page 1 Company Confidential Results 1Q06 26 April 2006

2 26 April 2006, page 2 Company Confidential Operational results 1Q06 in € million 1Q051Q06Growth % 1Q06/1Q05 Orders172.4199.615.8 Sales153.6172.112.0 EBITA6.49.344.1 EBITA %4.25.428.6 Book-to-bill1.121.163.6 $/€ 9% higher in 1Q05

3 26 April 2006, page 3 Company Confidential Results per quarter Results per quarter in € million

4 26 April 2006, page 4 Company Confidential Overall comments 1Q06 Very good order intake at € 199.6 million, i.e. 15.8 % growth vs 1Q05, particularly in Medical, Control Rooms and Events Sales strongly growing with 12 % to € 172.1 million, particularly in Medical, Events, Digital Cinema and Presentation Gross profit margin improved to 41.1 % from 39.6 %, due to continued product cost improvements and higher sales volume EBITA improved to € 9.3 million vs € 6.4 million last year, i.e 44.1 % better than last year EBITA margin at 5.4 % vs 4.2 % in 1Q05, expected to gradually improve in the following quarters, due to volume increase and full effect of 2005 restructuring exercises

5 26 April 2006, page 5 Company Confidential Company divisional structure BarcoView Barco Media & Entertainment Barco Control Rooms Barco Presentation & Simulation BarcoVision Barco Manufacturing Services Defense & security Traffic management Medical imaging Avionics Events Media Digital cinema Traffic & surveillance Utilities & process control Broadcasting Simulation Presentation Textiles Plastics

6 26 April 2006, page 6 Company Confidential Evolution of results per division in € million 1Q051Q06Growth % 1Q05/1Q06 Sales% EBITA Sales% EBITA Sales View51.37.858.58.714.0 Media & Entertainment36.0-2.354.64.451.7 Control Rooms24.44.123.60.3(3.3) Presentation & Simulation23.33.625.91.311.1 Vision16.115.513.56.8(15.6) Manufacturing Services23.5-4.719.42.4(17.4) Eliminations-21.2-23.4 Total153.64.2172.15.412.0

7 26 April 2006, page 7 Company Confidential BarcoView (1) BarcoView (1) in € million

8 26 April 2006, page 8 Company Confidential BarcoView (2) Orders –Very good book-to-bill ratio of 1.22 –Orders in Medical have grown strongly vs 1Q05 with strong growth in North America and Europe, in PACS and Custom Imaging Solutions –Orders in Defense & Security slightly better than last year –Orders in Traffic Management strongly declined vs last year, as some customers delayed their projects –Strong order growth in Avionics Sales –Sales growth of 14 % vs last year –Very strong sales growth in Medical confirms strong market and market share –Sales in Defense improved vs last year, but Traffic Management weaker than last year, due to some important customers’ decision to delay their projects –Avionics sales grew strongly year on year Margins –Good gross profit margin stable at 45 % vs 44 % the year before –Profit margin at 8.7 %, better than last year, because of higher sales

9 26 April 2006, page 9 Company Confidential Barco Media & Entertainment (1) Barco Media & Entertainment (1) in € million

10 26 April 2006, page 10 Company Confidential Barco Media & Entertainment (2) Orders –Book-to-bill ratio of 0.99: good in light of the strong sales growth –Strong growth y/y, with 23.8 % –Higher order level in Events, especially with new projector type and new indoor/outdoor LED –Weaker Media orders, because of focus on profitable projects –Orders in Digital Cinema strongly growing, as market pick up continued worldwide Sales –Strong growth y/y, with 51.7 % –Media sales slightly lower than last year –Very good Events sales worldwide, particularly for projector products –Strong growth in sales in Digital Cinema Margins –Gross profit margin at 31.1 % vs 33.0 %, due to different product mix –EBITA margin at 4.4 %, improved vs – 2.3 % in 1Q05, thanks to higher volume

11 26 April 2006, page 11 Company Confidential Barco Control Rooms (1) Barco Control Rooms (1) in € million

12 26 April 2006, page 12 Company Confidential Barco Control Rooms (2) Orders –Continued very good growth vs 1Q05 in orders, growing with 10 % –Very strong book-to-bill of 1.40, increasing backlog Sales –Despite high backlog, weaker sales than last year due to delivery limitations in the first month of the year, caused by the introduction of new ERP sytem in January 06 Margins –Gross profit margin at 40 %, slightly improving vs last year –EBITA margin weak at 0.3 % because of lower sales volume

13 26 April 2006, page 13 Company Confidential Barco Presentation & Simulation (1) in € million

14 26 April 2006, page 14 Company Confidential Barco Presentation & Simulation (2) Orders –Book-to-bill for the division of 1.06, building up further backlog –Orders at a higher level than 1Q05, both in Presentation and Simulation Sales –Presentation much higher than 1Q05, thanks to strong demand for high resolution and High Definition format projectors –Simulation sales lower than 1Q05, with civil aviation showing positive signs for future growth Margins –Gross profit margin at 39.6 %, lower than 40.6 % last year, due to different product mix –EBITA margin at 1.3 %, lower than 3.6 % last year

15 26 April 2006, page 15 Company Confidential BarcoVision (1) BarcoVision (1) in € million

16 26 April 2006, page 16 Company Confidential BarcoVision (2) Sales & Orders –Book-to-bill ratio good at 1.08, building some backlog, although investment climate in textile remains weak –Weak sales level in 1Q06, mainly in the sensors for open end spinning; 1Q05 had particularly strong sales, thanks to one significant contract in the Middle East –Weaker orders and sales in systems business Margins –Gross profit margin stable at 45.5 %, vs 44.7 % in 1Q05 –EBITA margin lower at 6.8 %, due to low sales volume

17 26 April 2006, page 17 Company Confidential Barco Manufacturing Services (1) Barco Manufacturing Services (1) in € million

18 26 April 2006, page 18 Company Confidential Barco Manufacturing Services (2) Orders & Sales –Order level picking up again, resulting in a very good book- to-bill ratio of 1.34, in all sectors of the business –Sales 17.5 % lower than last year, as the internal customers were emptying their inventories, but order levels picking up again, indicate a strong 2Q06 Margins –EBITA margin at 2.4 % vs -4.7 % last year, improved thanks to reorganizations and manpower reductions done in 2005 Discussions with several parties, focusing on subcontracting as their core business, are ongoing

19 26 April 2006, page 19 Company Confidential Geographical breakdown of sales Geographical breakdown of sales EMEA AMERICAS ASIAPAC.

20 26 April 2006, page 20 Company Confidential Key figures Income Statement 1Q06 in € million1Q05 %1Q06% Sales Cost of goods sold 153.6 -92.8 100.0 -60.4 172.1 -101.3 100.0 -58.9 Gross Profit Research & Development Sales & Marketing General & Administration Other operating result 60.8 -16.0 -28.4 -13.0 3.0 39.6 -10.4 -18.5 -8.4 1.9 70.7 -16.8 -29.8 -14.2 -0.7 41.1 -9.8 -17.3 -8.2 -0.4 EBITA Goodwill impairment 6.4 0.0 4.2 0.0 9.3 0.0 5.4 0.0 Operating Result6.44.29.35.4 Non-operating result-0.1 0.0 Income Taxes-1.4-0.9-2.0-1.1 Net Income4.93.27.44.3 Current Cash Flow18.211.821.812.7 Current Earnings per Share (in €)0.400.61 Net Earnings per Share (in €)0.400.62

21 26 April 2006, page 21 Company Confidential Key figures Balance Sheet Key figures Balance Sheet in € million 31/03/0531/12/0531/03/06 Accounts Receivable 155.4188.8173.7 Inventory154.7141.4154.8 Cash96.7106.3106.4 Financial debt67.084.366.4

22 26 April 2006, page 22 Company Confidential Expectations 2Q06 Order target between € 195 - 205 million, vs € 185.6 million in 2Q05 Sales target: between € 182 - € 192 million, vs € 176.9 million in 2Q05 EBITA between € 15 and € 20 million, vs € 15.5 million in 2Q05


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