Slide 1: Full Year Results 2025 Analyst & Investor call
Full Year Results 2025 Analyst & pack Investor Investor call July 2026 An Steegen / Ann Desender February 10th, 2025 - Kortrijk 1
Slide 2: Preliminary notes: Safe harbor statement
Preliminary notes Safe harbor statement This deliverable may contain forward-looking statements. Such statements reflect the current views of management regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially differ
Slide 3: Agenda
Agenda 1. Introducing Barco 2. Strategy & results 3. Focus on HDR by Barco 4. Focus on VerVent Audio
Slide 4: 1. Introducing Barco
1. Introducing Barco
Slide 5: Global leader in advanced audiovisual, collaboration and connectivity solutions
Global leader in advanced audiovisual, collaboration and connectivity solutions Differentiated technology stack Centered around 3 core markets 01 Advanced Display, Projection & Audio 49% 24% 27% 02 Image Processing & Insights Healthcare Entertainment Enterprise 03 AVoIP networks & Connectivity CINEM
Slide 6: A global company with European roots
A global company with European roots APAC Americas 20% 45% €964m Sales in 2025 EMEA 35% Barco has sites in nearly 30 countries and R&D and/or manufacturing facilities in 10 countries. 6
Slide 7: Global manufacturing and service footprint
Global manufacturing and service footprint Focused mirror factories in Europe & China and an expanded global service network Dallas Kortrijk Suzhou Noida UK Saronno Japan Factory plant Duluth / Atlanta Wuxi Dubai Existing Taiwan extensive service & repair New specific service & repair Existing parts
Slide 8: Entertainment
Entertainment Creating compelling audiovisual experiences that redefine immersive storytelling worldwide TV studio Live events 49% of Group revenue Auditorium Meeting rooms 58% Projection mapping Cinema Cinema 42% Visitor attraction Lobby Immersive Experience Museums 72% Eco score % revenues from pr
Slide 9: Opportunities in Entertainment
Opportunities in Entertainment Premium audiovisual storytelling through advanced projection and HDR, powered premium audio Cinema Immersive Consumer Delivering immersive cinematic storytelling Experience Experience through premium projection, laser innovation, and HDR visual excellence Creating unfo
Slide 10: Enterprise
Enterprise Enabling confident decisions and seamless collaboration in critical environments 24% Control room of Group revenue Virtual reality environment 55% Boardroom Meeting rooms & huddle spaces Meeting Experience 45% Experience center Control Rooms Training center 93% Lobby Eco score % revenues
Slide 11: Opportunities in Enterprise
Opportunities in Enterprise Seamless collaboration and confident decision-making, leading on cyber-security Meeting Experience Control Rooms Seamless meetings and collaboration with smart, secure, Confident decision-making through secure, scalable, and and scalable workplace technology operator-cent
Slide 12: Healthcare
Healthcare Powering precision diagnosis and treatment through trusted visualization Diagnostic lab 27% Life sciences, Bio pharma, Clinical Research organizations Specialist practice of Group revenue Mammography Remote reading Private imaging center Ambulatory surgical center Oncology 67% Surgery Eco
Slide 13: Opportunities in Healthcare
Opportunities in Healthcare Precision diagnosis and treatment with trusted visualization, connectivity, and intelligent workflows Diagnostic displays Surgical solutions Modality displays High-precision diagnostic display systems Enhanced visualization and connectivity Custom medical displays and use
Slide 14: 2. Strategy & results
2. Strategy & results
Slide 15: Innovation strategy
Innovation strategy Enabling connectivity, and AI-driven workflows & insights Real-time compute & AI Digital workflows & applications platform Connected Cloud End-user productivity of everything Connectivity Connected solutions, Next generation in the cloud & on premise AVoIP networks Visualization
Slide 16: Strong margin resilience through the cycle
Strong margin resilience through the cycle Topline reflects post-COVID normalization and inventory correction; margins structurally supported by software mix and cost discipline. SALES GROSS PROFIT EBITDA (in million euro) (in million euro) (in million euro) 439 1058 1050 413 385 386 143 947 964 127
Slide 17: Recent launches
Recent launches Strong market debut ClickShare Hub Expansion for Lauch Encore3 of HDR by Barco Entry in MTR market Barco CTRL Image processing Immersive Experience AI-driven SlideRightQA growing in theme parks Brilliant Assistant 3D Surgical Displays in digital pathology 17
Slide 18: Group results 1H26
Group results 1H26 Improved momentum in second quarter amid challenging markets Sales € 418m (-8% yoy, -3% excl. FX), Orders € 468m (-4% yoy, flat excl. FX) • Markets challenged by geopolitical uncertainty, yet improved order intake towards end of 2Q26 • Good momentum for Control Rooms and Diagnosti
Slide 19: Entertainment in 1H26
Entertainment Entertainment in 1H26 (in million euro) 1H26 Δ 1H25 Orders 243.5 +3% Sales 199.5 -5% Cinema growth in EMEA & Americas; expanding HDR by Barco ecosystem Gross Profit 69.3 Consumer Experience strengthens long-term Entertainment proposition % Sales 34.8% -0.3 ppts EBITDA 16.8 % Sales 8.4%
Slide 20: Enterprise in 1H26
Enterprise in 1H26 (in million euro) Enterprise 1H26 Δ 1H25 Orders 115.1 +5% Momentum for Control Rooms partly offsets Meeting Experience decline Sales 97.9 -9% Gross Profit 51.8 Software-led mix improvement supports gross margin expansion % Sales 52.9% +2.0 ppts EBITDA 5.8 % Sales 5.9% -2.1 ppts •
Slide 21: Healthcare in 1H26
Healthcare Healthcare in 1H26 (in million euro) 1H26 Δ 1H25 Orders 109.2 -23% Diagnostic imaging growth partly offsets softness in surgical; portfolio Sales 120.7 -12% adaptation and digital workflow solutions support future growth Gross Profit 43.7 % Sales 36.2% -2.7 ppts Unified leadership, innova
Slide 22: Focus areas for 2H26
Focus areas for 2H26 Barco continues its focus on new products, adjacencies and software, despite high volatility in macro-economics Sharpen our Maintain our focus on Accelerate our Cost discipline leading market businesses with innovation and positions; structural roadmap in growth and organization
Slide 23: Mid to long-term guidance
Mid to long-term guidance Qualitative growth, increasing recurring revenues, while reducing carbon footprint Financial Ambitions by 2028 Non-financial Sales € 1.1bn organic 85% ECO-labelled revenues by 2028 Recurring revenues 15% of sales From 11% in 2024, growing towards SBTi EBITDA 15% of sales Sc
Slide 24: Return of more than €120m to shareholders via dividend growth and buybacks
Return of more than €120m to shareholders via sustained dividend growth and share buybacks • Executed 2 share buyback programs, worth €90m in 2025-2026 • Intention to cancel 6% of the outstanding shares • 2025 gross dividend of 0.55 euro per share, up 0.04 euro versus previous year Gross dividend (€
Slide 25: In conclusion - Barco's key priorities
In conclusion - Barco’s key priorities Expand in core markets Focus on software Optimized All-in on Entertainment and AI workflows capital allocation Leverage installed base, grow in Creating user value with intelligent, Invest in inorganic growth and M&A adjacencies and mid-segment AI-powered workf
Slide 26: 3. Focus on HDR by Barco
3. Focus on
Slide 27: Business overview: Patented projection HDR solution for cinema
BUSINESS OVERVIEW Patented projection HDR solution for cinema • HDR by Barco is an end-to-end High • Commercially launched in 2024, Dynamic Range (HDR) theatrical HDR by Barco’s adoption is among proposition from Barco – the global the fastest in premium cinema leader in Cinema technology history –
Slide 28: Rapidly growing PLF capturing cinemas, audiences & studios
Rapidly growing PLF capturing cinemas, audiences & studios • Designed for exhibitors: With sustained growth at the global box office, and PLF over-indexing, HDR by Barco represents an affordable path to premium for exhibitors worldwide • Made for filmmakers: All major studios and top LA post-houses
Slide 29: A Blockbuster Premium Cinema Format
A Blockbuster Premium Cinema Format • Robust pipeline: With 35 titles released in HDR by Barco in 2025, and at least that many again in 2026, every major Hollywood studio has released titles in the format. Furthermore, the creative community has embraced the expanded potential of the format to bette
Slide 30: Loved by Audiences
Loved by Audiences • Driving Occupancy: Where available HDR by Barco is quickly becoming a go-to for cinephiles and discerning audiences, especially on opening weekends • See it, love it: on exit survey, audiences cite a willingness to return & recommend the format to others. Image shows seat map fr
Slide 31: Future at Scale
Future at Scale • More Premium Screens: HDR by Barco strengthens exhibitors’ own premium brands, but busy release slates force tough choices between new titles and extending strong performers on PLF screens. This has already prompted some customers to add a second HDR by Barco PLF auditorium in the
Slide 32: 4. Focus on VerVent Audio
4. Focus on VerVent Audio
Slide 33: Acquisition of Vervent Audio – April 2026
Acquisition of Vervent Audio – April 2026 • Active in high-end loudspeakers, headphones, integrated systems, and growing automotive OEM business • Luxury/premium audiophile segment with strong brands Focal and Naim, rooted in France and UK, growing in US and Asia • End-to-end AV ambition: Enables Ba
Slide 34: Barco and VerVent: an audiovisual opportunity
Barco and VerVent: an audiovisual opportunity A strategic combination across entertainment, technology and premium brands All-in on Entertainment Portfolio synergies Leverage strong brands • Become a full audiovisual • Combine our unique • Strengthen the iconic Focal player in consumer, home & stren
Slide 35: Focal and Naim premium audio portfolio
Focal and Naim premium audio portfolio A differentiated portfolio spanning consumer, professional and mobility applications Consumer Professional Motorities Hi-Fi loudspeakers amplifiers studio monitors OEM automotive headphones integrated systems studio headphones yachting & home cinema 35
Slide 36: Visioneering a bright tomorrow
Visioneering a bright tomorrow