Barco NV · EURONEXT:BAR

Barco NV — H1 2019 Earnings Presentation

14 slides from Barco NV's earnings presentation, Jul 18, 2019

  1. Slide 1: Results 1H19

    RESULTS 1H19 Healthy growth and continued profit improvement Jan De Witte & Ann Desender 18 July 2019

  2. Slide 2: Preliminary Notes

    RESULTS 1H19 | PRELIMINARY NOTES Pro forma comparison To present comparable data 1H19 versus 1H18, 1H18 figures for orderbook, orders and sales are presented on a pro forma basis assuming the deconsolidation of the BarcoCFG joint venture had taken place on January 1, 2018. Other metrics such as gros

  3. Slide 3: Executive Summary

    RESULTS 1H19 | EXECUTIVE SUMMARY 8.3% topline growth - In constant currencies +4.5% … building order book - Growth accross all divisions, fuelled by Cinema, ClickShare, Control Rooms & Surgical EBITDA margin +3.3ppts to 13.6% - Margin accretion and operational leverage across the board - Confirming

  4. Slide 4: Financial Highlights

    FINANCIAL HIGHLIGHTS | RESULTS 1H19 Topline growth and profitability up, working capital actions drive cash generation  Solid orders & sales growth • Orders growth @ constant currencies  4.1% • Sales growth @ constant currencies  4.5% • Building order book, € 344m, +€ 40m vs YE18  Further gross

  5. Slide 5: Regions

    RESULTS 1H19 | REGIONS Solid order growth for APAC & EMEA ; Sales growth led by EMEA & AMERICAS SALES % of group AMERICAS | Orders  2% ; Sales  9% 40% SOLID GROWTH IN SALES, PARTIALLY HELPED BY FX  Strong step up in Cinema ; working on stronger product portfolio for ProAV/Events  Channel expansi

  6. Slide 6: EBITDA @ 13.6% of sales (+€ 16.1m, +3.3ppts)

    EBITDA @ 13.6% of sales (+€ 16.1m, +3.3ppts) Currency Sales Gross Profit R&D S&M G&A Other 67.6 2.3 0.6 8.1 Delivering on More focused IT investments roadmap marketing 13.6% 51.5 4.7 developments budgets & cost of efficiency sales 10.3% of sales Sales +4.5% Opex  € 1.5m, (@ constant fx) (net after

  7. Slide 7: Net Income € 43m (+€ 15.8m)

    NET INCOME € 43m (+€ 15.8m) Improved operating results and no impairments 1H19 1H18 Δ 18 EBITDA 67.6 51.5 16.1  Improved operating results: % Sales Change (ppts) 13.6% 10.3% 3.3 • EBITDA up 3.3ppts to 13.6% Depreciations & amortizations (19.3) (16.6) (2.8) • EBIT up 2.7ppts to 9.7% EBIT 48.2 34.9 1

  8. Slide 8: Cash Flow & Balance Sheet

    CASH FLOW & BALANCE SHEET Solid free cash flow across divisions, increased discipline on working capital  ROCE @ 23%, up 5ppts vs last year  Positive free cash flow of € 41.6m in 1H (from € -4.0m last year) • Gross operating cash flow € 57m, net after ~ € 10m payout of lay-off costs (restructuring

  9. Slide 9: Divisional Update

    a _—_ , Divisional Update

  10. Slide 10: Executive Summary

    RESULTS 1H19 | EXECUTIVE SUMMARY ENTERTAINMENT | ORDERS + 12.6% | SALES +2.7% | EBITDA 8.0% CINEMA CAPTURING RENEWAL WAVE, MIXED MOMENTUM IN V&H  Solid growth on sizeable uptakes for cinema in N-A & EMEA (Cinionic), building up solid order book ; securing leadership position launching innovative Se

  11. Slide 11: Outlook & Executive Focus

    BARGO- eS __’ , Outlook & Executive Focus

  12. Slide 12: Outlook

    OUTLOOK “Barco entered 2019 poised to resume top-line growth after a recent period of flat sales and, through solid execution, posted year-over-year sales growth and margin expansion for the first semester. We are encouraged to see that the steps we have taken to establish a stronger business founda

  13. Slide 13: Executive Focus 2H19

    EXECUTIVE FOCUS 2H19 Build out capabilities and performance focus  Sustain business- and cost-efficiencies throughout our processes and decisions  Execute ‘Fit to Lead’ resource re-deployment and capability building (Software, Product Mgt/Marketing, Services)  Sharpen organizational agility & cus

  14. Slide 14: Thank you

    Thank you

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