Slide 1: Results 1H22 Analyst & Investor call
RESULTS 1H22 Analyst & Investor call 2Q22 results exceed 2Q19 pre-pandemic level, boosting 1H sales 29% y-o-y to 473 million euro and EBITDA margin to 9.8% Charles Beauduin & Ann Desender 19th July 2022
Slide 2: Preliminary Notes
PRELIMINARY NOTES The statutory auditor has confirmed that the audit, which is substantially complete, has not to date revealed any material misstatement in the draft consolidated accounts, and that the accounting data reported in the press release is consistent, in all material respects, with the d
Slide 3: Results 1H22 Executive Summary
RESULTS 1H22 | EXECUTIVE SUMMARY 29% sales growth and further orderbook build up to € 538m Strong sales growth across all divisions and regions; fueled by accelerated sales conversion and despite ~€ 40m impact from supply shortages 2Q sales exceed 2Q19 pre-pandemic level EBITDA margin +2.3ppts to 9.
Slide 4: Financial Highlights Group Results 1H22
FINANCIAL HIGHLIGHTS | GROUP RESULTS 1H22 vs. 1H21 ORDERS Continued order intake growth +9% Entertainment & Enterprise division ; Americas & EMEA region € 509m o o Orderbook @ € 538m, 37% yoy, 10% EOY21 SALES € 473m +29% Gross profit Sales 29% yoy, (↑ 22% excl Fx) +1.2ppts % Sales 37,9% o
Slide 5: Dynamic Through the Year Quarterly Results
DYNAMIC THROUGH THE YEAR | QUARTERLY RESULTS Orders Sales Orders 2Q22 Δ vs 2Q21 Δ vs 1Q22 262.3 +11% +6% Sales 2Q22 Δ vs 2Q21 Δ vs 1Q22 Entertainment 92.8 +25% +38% Enterprise 87.3 +70% +42% Healthcare 86.2 +25% +11% 1Q19 2Q19 1Q20 2Q20 1Q21 2Q21 1Q22 2Q22 Group 266.4 +37% +29% Group performance 2Q2
Slide 6: Sales 1H22 vs 1H21 Regions
SALES | 1H22 VS 1H21 | REGIONS AMERICAS Orders 30% ; Sales 40% Large cinema exhibitor orders and growing demand in Pro AV market Rebound in Meeting Exp. upon return-to-office and strengthened go-to-market Growth in operating rooms fuels Healthcare EMEA Orders 20%; Sales 33% Post-covi
Slide 7: Group EBITDA at 9.8%
GROUP EBITDA @ 9.8% | + € 18.7M, +2.3PPTS 9.8% of Sales Healthcare @ 13% Opex up € 20m 7.5% of Sales Gross Profits up € 34m Enterprise @ 18% Entertainment @ -2% 1H21 1H22 Rising demand and strong Investments in execution drive revenue growth product portfolio and commercialization Gross profit impro
Slide 8: Net Income Back to Positive
NET INCOME BACK TO POSITIVE € 22m or 5% of sales (in millions of euro) 1H22 Δ 1H21 EBITDA 46.2 18.7 % Sales Change (ppts) 9.8% 2.3 Depreciations & amortizations (19.4) (0.2) Depreciations & amortizations essentially stable Restructuring 0.0 2.2 EBIT 26.8 20.7 % Sales Change (ppts) 5.7% 4.0 No re
Slide 9: Cash Flow & Balance Sheet
CASH FLOW & BALANCE SHEET Temp increase in working capital 1H22 Free cash flow € -28m (vs € 35m in 1H21) o Gross operating cash flow at € 45m, up from € 21 a year ago o Working capital @ 13% of sales (from 6% end of year ’21) • DSO @ 68 days from 56 days EOY21 linked to surge in sales at end of 2Q
Slide 10: Non-Financial Metrics
NON-FINANCIAL METRICS PLANET COMMUNITIES ECO labelled revenues Net Promotor Score (NPS) 1H22 1H21 FY20* Change 1H22 2H21 1H21 Change vs vs 1H21 1H21 38% 27% 26% +11 ppts 45 47 48 -3ppt Target 2023: 70% Target: score 50 Growth in 1H22 fueled by good progress in Decline vs 2H21 caused by Immer
Slide 11: Divisional Update
DIVISIONAL UPDATE RESULTS 1H22 11
Slide 12: Entertainment
ENTERTAINMENT Change vs (in millions of euro) 1H22 2H21 1H21 1H21 Markets unlock, orders strong, sales Order intake Sales 207.2 160.0 200.3 179.9 186.3 129.8 +11% +23% lags on supply chain constraints EBITDA -2.7 15.5 6.0 EBITDA margin -1.7% 8.6% 4.6% -6.3ppts Orders Sales 2Q22: 6th consecutive po
Slide 13: Enterprise
ENTERPRISE (in millions of euro) 1H22 2H21 1H21 Change 1H22 Back-to-office momentum vs 1H21 Order intake 137.7 151.7 110.7 +24% Sales 148.7 129.2 103.9 +43% EBITDA 27.4 9.0 5.6 Orders Sales EBITDA margin 18.4% 7.0% 5.4% + 13ppts Strong topline growth with orders +24% and sales +43%; with 2Q sales
Slide 14: Healthcare
HEALTHCARE (in millions of euro) 1H22 2H21 1H21 Change 1H22 vs 1H21 All time high semester sales Order intake 164.3 161.2 168.6 -2% Sales 163.9 129.1 132.4 +24% EBITDA 21.6 6.6 15.8 EBITDA margin 13.2% 5.1% 12.0% +1.2ppts Orders Sales Markets reopening and normalization of hospital budget allocati
Slide 15: Outlook & Closing
OUTLOOK & CLOSING 15
Slide 16: Outlook Full Year 2022
OUTLOOK FULL YEAR 2022 “Barco is turning the corner in its recovery from the pandemic. Strong demand for our product solutions drove sales to exceed pre-pandemic levels in the second quarter, supported by a focused organizational structure. For the second semester we are well prepared to deliver ste
Slide 17: Half year report
Half year } report. Barco six months ended 30 June 2022
Slide 18: Stay Tuned
STAY TUNED Financial calendar 2022 Thursday 8 September Capital Markets Day Wednesday 19 October Trading update 3Q22 More information? Please visit our dedicated webpage https://www.barco.com/investors 18
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