Barco Nv · EURONEXT:BAR
Barco Nv — Investor Day (October 2025)
137 slides from Barco Nv's investor day presentation, Oct 23, 2025
Slide 1: Eye on Tomorrow
Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 2: Preliminary notes: Safe harbor statement
Preliminary notes Safe harbor statement This presentation may contain Barco is providing the Barco disclaims any liability for forward-looking statements. information as of this date and statements made or published Such statements reflect the does not undertake any by third parties and does not cur
Slide 3: Welcome & Agenda
Welcome & Agenda Willem Fransoo
Slide 4: Objective of the day
Objective of the day • New applications and demonstrations Experience Barco • Experience center 2.0 • Opportunities and ambitions Insights on Barco • Deep dive on markets & business units • Corporate strategy and objectives • Meet our management Meet Barco C-level, business unit leads & executive te
Slide 5: Agenda CMD25
Agenda CMD25 08:45 - 09:30 Welcoming & registration Central Park 09:30 - 09:40 Welcome Theater + Webcast Willem Fransoo 09:40 - 11:00 Keynote • Corporate and technology strategy • Manufacturing / Global Logistics Theater + Webcast An Steegen, Rob Jonckheere, Ann Desender • Sustainability • Financial
Slide 6: Meet Barco
Meet Barco An Steegen | CEO Ann Desender | CFO Dirk Feyants | Diagnostic Imaging Johan Fornier | Surgical & Modality Jan van Houtte | Meeting Experience Tom Sys | Control Rooms Gerwin Damberg | Cinema Ta Loong Gan | Immersive Experience Rob Jonckheere | Global Operations Lien Meuleman | CHRO Kurt Ve
Slide 7: Experience Barco
Experience Barco Barco CTRL ClickShare HDR by Barco Encore3 SwiftAgent Hub Image Processing OneLook Nexxis 3D Displays QAWeb Brilliant Assistant Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 8: Eye on Tomorrow
Eye on Tomorrow An Steegen Ann Desender Rob Jonckheere
Slide 9: Keynote - Agenda
Keynote - Agenda 1. • Retrospect & SWOT How we look at Barco • Our vision An Steegen - CEO • Trends that shape our future 2. Strategy & innovation • Key priorities • Strategy & innovation An Steegen - CEO • Markets 3. Manufacturing & logistics • Focused factories Rob Jonckheere – SVP Operations • Gl
Slide 10: How we look at Barco
1. How we look at Barco Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 11: This is Barco
This is Barco Leader in advanced visualization, Centered around 3 core markets video networking & collaboration 01 Advanced Display & Projection 29% 27% 44% 02 Image Processing & Insights Healthcare Enterprise Entertainment 03 AVoIP networks & Connectivity DIAGNOSTIC IMAGING MEETING EXPERIENCE CINEM
Slide 12: Expanding hardware leadership into software growth
Expanding hardware leadership into software growth Focus on Navigating Leading in new 3 target covid paradigms of markets visualization 2014 - 2016 2017 - 2019 2020 - 2022 2023 - 2025 2026 - 2028 Enabling connectivity, Focus to Setting the workflows & perform visualization applications standard in o
Slide 13: How we look at Barco
How we look at Barco Strengths Weaknesses • Global visualization and AVoIP leader • China market challenges • New products, mid-segment expansion • Reduced forward-looking visibility • Strong balance sheet & cash flow • Enterprise markets evolving at high pace • Sustainability track record • Limited
Slide 14: Our vision
Our vision Visualize and connect the world Turning any Connecting Driving productivity surface into people, data with software, AI and a canvas and decisions workflows Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 15: 5 market trends that will shape Barco's future
5 market trends that will shape Barco’s future Barco confidential Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 16: Visualization is everywhere
Visualization is everywhere Drives engagement and productivity Advanced imaging is critical in professional markets Screens and surfaces turn into interactive interfaces Real-time rendering enables live data insights and immersive formats Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 17: Impact of connectivity
Impact of connectivity Interoperability across platforms and ecosystems Enabling robust and (cyber)secure remote operations Seamless and scalable data transmission with AVoIP networks End-user experience central in product and service design Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 18: Digital workflows drive productivity
Digital workflows drive productivity From siloed tools to integrated digital platforms Efficiency and scalability via workflow automation Real-time insights and decision-making Modular upgrades and remote services Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 19: AI-powered transformation
AI-powered transformation Reshaping content creation and image processing Real-time data insights and AI- supported workflows From rule-based to learning-based AI systems Predictive maintenance driving operational efficiency Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 20: Sustainability: from compliance to differentiation
Sustainability: from compliance to differentiation Stakeholders require measurable ESG impact Energy efficiency and circularity are competitive differentiators Embedded in procurement, product design, and operations Sustainable employers attract top talent Eye on Tomorrow Barco Capital Markets Day 2
Slide 21: Strategy & innovation
2. Strategy & innovation Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 22: Investing in ongoing transformation for long-term value
Investing in ongoing transformation for long-term value 2021–2024 2025–2028 Set the visualization standard in our markets Growth through software differentiation GROWTH CORE Lead premiumization in Cinema; HDR by Barco Harvest recent NPIs and as enabler Organizational Focused Portfolio Innovation eff
Slide 23: Key priorities for Barco
Key priorities for Barco 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 workflow automation
Slide 24: Our innovation vision
Our innovation vision Enabling connectivity, workflows & insights, AI-driven 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 E
Slide 25: Advanced visualization at the core
Advanced visualization at the core Real-time compute & AI Differentiate with advanced image processing Enhance image Visualization quality with real-time Everything is More interactivity between user and display compute a canvas Expand into adjacencies & mid-segment, leveraging scale Coronis OneLook
Slide 26: Connecting solutions with AVoIP networks
Connecting solutions with AVoIP networks Real-time compute & AI Connectivity AVoIP networks with low latency and high quality Deploy AVoIP Connected solutions, architectures and Secure and modular platforms, easily accessible for app integration in the cloud and eco-systems enabling on-premise real-
Slide 27: Creating value with workflows and applications
Creating value with workflows and applications Real-time compute & AI Workflow-driven use cases and solutions Digital workflows & Own and third-party AI use cases for applications platform New offerings: data, analytics and services workflow automation End-user productivity and user productivity Tra
Slide 28: Developing the operating room of the future
Developing the operating room of the future Voice-controlled 3D surgical interfaces and guidance seamless integration Comprehensive Real-time video data capture overlays Latency-free 4K precision imaging streaming, remote and beyond surgery Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 29: Next-generation operator-centric Control Rooms
Next-generation operator-centric Control Rooms Unified experience Maximize simplicity, across touchpoints foster collaboration AI-driven operator Open ecosystem workflow support integration End-to-end security Embedded in the up to the pixel IT infrastructure Eye on Tomorrow Barco Capital Markets Da
Slide 30: Premium Cinema experiences in HDR by Barco
Premium Cinema experiences in HDR by Barco 6 x brighter HDR Lightsteering 5 x darker technology Setting the standard Smart energy use from post-production to projection Recurring revenue Premium large formats models Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 31: HDR by Barco: exhibitors, studios, movies
EXHIBITORS LOVE IT STUDIOS ARE ON BOARD ON TRACK TO BE AT OVER 100 9 MAJOR HOLLYWOOD STUDIOS HAVE LOCATIONS WORLDWIDE BY THE END RELEASED TITLES IN HDR BY BARCO OF 2026 MOVIES ARE NEXT LEVEL MOVIEGOER RECOMMENDED WITH MORE THAN 30 HDR BY BARCO +90% OF MOVIEGOERS WOULD TITLES IN 2025 ALONE RECOMMEND
Slide 32: Our markets in Healthcare
Our markets in Healthcare Precision diagnosis and treatment with trusted visualization, connectivity, and intelligent workflows Diagnostic Imaging Surgical & Modality High-precision diagnostic display systems Enhanced visualization and connectivity for radiology, pathology, and clinical review imagi
Slide 33: Our markets in Enterprise
Our markets 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-centri
Slide 34: Our markets in Entertainment
Our markets in Entertainment Premium visual storytelling through advanced projection and HDR, powered by smart workflows Cinema Immersive Experience Delivering immersive cinematic storytelling through premium Creating unforgettable visual journeys with high-end projection, projection, laser innovati
Slide 35: In summary - key priorities for Barco
In summary - key priorities for Barco 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 workfl
Slide 36: Manufacturing and logistics
3. Manufacturing and logistics Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 37: Global Operations - retrospect
Global Operations - retrospect • Optical clear display • Start Kortrijk factory bonding in Suzhou automation and integrated warehouse • Insource Video Switchers • Expand service footprint 2023 2024 2025 >2025 • Wuxi factory fully • Start new plant in operational Gerenzano, Italy • Insource Image Pro
Slide 38: Manufacturing and service footprint
Manufacturing and service footprint 4 focused mirror factories in Europe & China + expanded service network, optimizing logistics Kortrijk/Kuurne integration by end ’26, Gerenzano to replace Saronno by end ‘27 Dallas Kortrijk Suzhou Noida UK Saronno Japan Factory plant Duluth / Atlanta Wuxi Dubai Ex
Slide 39: Global Operations – focus areas
Global Operations – focus areas Flexibility and vertical integration are key in geopolitical context 1. Efficiency & Productivity • iGemba & Kaizen across all factories Lean manufacturing & process optimization • Scrap, Yield, Throughput • Standardization of test and alignment 2. Capacity & Capabili
Slide 40: Wuxi plant with state-of-the-art automation
Wuxi plant with state-of-the-art automation Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 41: Global Services
Global Services Investments in Services have improved our operational efficiency and are resulting in a higher customer loyalty and NPS score Regional service footprint AI-driven global tools Boosting service experience expanded & processes (S4H and • Digitization • Lower transport cost Salesforce)
Slide 42: Conclusion
Conclusion Exploiting focused factories and automation to enable manufacturing and service flexibility Manufacturing Focused factories for tailored solutions footprint and mitigating geopolitical issues Manufacturing Integrated manufacturing to control quality operations and supply Continued investm
Slide 43: Sustainability
4. Sustainability Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 44: Embedding sustainability in our strategy, with measurable impact
Embedding sustainability in our strategy, with measurable impact • Strategic stakeholder • 1st CSRD aligned consultation Integrated Annual Report • Deliver on 2023 sustainability targets • 2030 & 2050 SBTi emission targets 2023 2024 2025 Beyond 2025 Launch new strategy • Deliver on ambitious ‘Sustai
Slide 45: Accelerating our Sustainable Impact Journey
Accelerating our Sustainable Impact Journey We engage people foster entrepreneurial, adaptable and inclusive teams We empower society for sustainability & resilience We protect earth by taking climate action & developing more sustainable products Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 46: Protecting Earth
Protecting Earth Towards net zero emissions by 2050, with sustainable and circular solutions Commitment Targets By 2030 We take science-based Reduce absolute scope 1, 2 & 3 carbon baseline climate action emissions by 25% or 134k tCO2e 2024 By 2050 Reduce absolute scope 1, 2 & 3 carbon baseline emiss
Slide 47: Climate change
Climate change Step-wise journey to net zero emissions by 2050 by 2025 by 2030 by 2050 -45% -42% -90% Reduce total absolute carbon Reduce absolute scope 1 & 2 Reduce absolute scope 1, 2 and emissions (404K ton CO2e) carbon emissions baseline 2024 scope 3 carbon emissions baseline 2015 baseline 2024
Slide 48: Engaging People
Engaging People Fostering entrepreneurial, adaptable and inclusive global teams Commitment Targets We co-create a healthy, safe & smart organization 75% Increasing employee engagement score towards 75% We embed a continuous 20 hours learning mindset Minimum 20 yearly formal training hours per employ
Slide 49: Empowering Society
Empowering Society Enabling sustainability and resilience Commitment Drive sustainable Cultivate responsible & Provide access to change through reliable business education innovation & technology & health for all Targets 0 50+ 0 critical health, safety & security Global Net Promoter incidents with o
Slide 50: External recognition - ESG ratings
External recognition - ESG ratings Barco scores consistently well above average in ESG ratings Ranking 2024 2023 2022 Top 18% of Electronic Equipment, Instruments AA AA A & Components industry 7th out of 129 in the Electronics Equipment 9.8 13.2 11.2 subindustry Negligible risk Low risk Low risk Top
Slide 51: Financials and long-term outlook
5. Financials and long-term outlook Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 52: Looking back - profitability resilient, amid topline pressure
Looking back - profitability resilient, amid topline pressure Topline challenged by market conditions in China, and several macro-economic and geopolitical headwinds. Profitability resilient with new products and cost control. 100% Topline growth in Americas, offset by a decline in EMEA 1000 80% Exp
Slide 53: Short term guidance
Short term guidance Reconfirming expectations for 2025, in a year with geopolitical challenges 1 2 3 and drive while maintaining Grow our topline profit expansion strict cost control Assuming Management expects Tariffs remain stable Sales above 2024 USD not further weakening vs EBITDA margin % above
Slide 54: Looking ahead - dynamics per division
Looking ahead - dynamics per division Strong topline growth opportunity for Entertainment. Software and OPEX models generate deferred and recurring revenues across divisions. Entertainment Enterprise Healthcare All-in: strong growth potential Growth opportunity for Meeting Diagnostic Imaging growing
Slide 55: Guiding principles for long-term value creation
Guiding principles for long-term value creation Steady and qualitative growth, profitability supported by new products and recurring revenues Qualitative sales growth Profitability improvement New 50+% of 2028 sales from new products Supported by new products & products launched in 2024-2028 Gross s
Slide 56: Mid & long-term value creation
Mid & long-term value creation 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 Scope 1, 2
Slide 57: Optimized capital allocation
Optimized capital allocation Streamlining capital allocation, strong balance sheet provides flexibility for inorganic growth ~€ 195m • M&A Expected net cash YE2025 Growth • Strategic alliances • After €60m executed & €30m announced share buyback programs in 2025 Share- • Dividends Expected holders •
Slide 58: Eye on Tomorrow
Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 59: Healthcare
Healthcare Diagnostic Imaging Dirk Feyants Surgical & Modality Johan Fornier
Slide 60: Healthcare
Healthcare Powering precision diagnosis and treatment through trusted visualization Diagnostic lab 29% Life sciences, Bio pharma, Clinical Research organizations Specialist practice of group revenue Mammography Remote reading Private imaging center Ambulatory 53% surgical center Diagnostic Imaging O
Slide 61: Retrospect Healthcare
Retrospect Healthcare Peak demand in 2022 due to supply chain crisis, led to inventory corrections in years after SALES GROSS PROFIT EBITDA (in million euro) (in million euro) (in million euro) 341.7 116.4 38.4 285.9 102.9 105.5 34.2 273.2 261.5 87.2 27.8 22.4 2021 2022 2023 2024 2021 2022 2023 2024
Slide 62: Diagnostic Imaging
DIVISION Healthcare BUSINESS UNIT Diagnostic Imaging Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 63: Diagnostic solutions expanding outside hospitals
Diagnostic solutions expanding outside hospitals Significant opportunities in Life Sciences, Diagnostic Labs, Radiology networks and Remote Reading Oncology Life Sciences, BioPharma, CRO Diagnostic Lab Services Digital OR Radiology Specialist Private Pathology Practices Imaging Centers Imaging Remot
Slide 64: Diagnostic Imaging - Retrospect
Diagnostic Imaging - Retrospect • QAWeb cloud connects • SlideRightQA: Quality over 150,000 displays assurance software in digital pathology • DL Precise clinical AI • New graphic boards, NVIDIA-based (incl. AI platforms services) 2023 2024 2025 2025 • Coronis OneLook • 3D display • ConnectCare ente
Slide 65: Industry Trends
Industry Trends Efficient healthcare Digital Transformation Rise of Enterprise AI Transformation Outsourcing diagnostics to Digital transformation Healthcare providers AI automated workflows specialized independent boosting the need for consolidate into large regional are enhancing clinical centres,
Slide 66: Market opportunity
Market opportunity Enterprise solutions Healthcare enterprises seek strategic partners to improve quality & compliance, manage equipment, speed up diagnostics, and streamline operations Remote reading Remote reading is expanding across all clinical segments, with growing emphasis on diagnostic quali
Slide 67: Addressed market & market share
Addressed market & market share Addressed Market Expected market Barco’s growth market Share Barco evolution opportunity 2024 2024 2025-2028 2025-2028 € 360 m • Capture share with innovative and competitive solutions Radiology, incl • Leverage installed base with 46% Low-single digit Clinical review
Slide 68: Competitive landscape
Competitive landscape Barco is global market leader with strongest position in North America Worldwide market share Why do our customers choose for a Barco display? (2024) 10% Others 46% Barco Advanced Quality Regulatory Continued Technology Assurance Compliance Availability • Optimized for • Consis
Slide 69: Clearly defined route to market per segment
Clearly defined route to market per segment Integrators / OEM / Influence End user segments Enable Value Added Buyers Partners Resellers 35% Hospital/Imaging Centers Radiology OEM & Digital Pathology PULL PUSH Large Labs, Contract Research Organizations (CRO), Pharma, Research 65% Reseller Remote Re
Slide 70: Roadmap & value proposition
Roadmap & value proposition Real time compute & AI Enabling connectivity, workflows & insights Leverage AI platform created for Digital workflows SlideRightQA Healthcare enterprise solutions & applications platform for diagnostic & workflow support and collaboration End-user productivity Point-of-Di
Slide 71: Harnessing AI to streamline laboratory workflows
Harnessing AI to streamline laboratory workflows SlideRightQA: Barco’s first AI SaaS to automate quality review of pathology images • Prescreening of pathology images with AI • Intercepts non quality images in the workflow (95% AI detection vs 44% manual) • Only quality slides reach pathologist • St
Slide 72: Conclusion
Conclusion Our vision is to leverage our core competences in visualization, quality control and clinical workflow to create end-to-end solutions with our partners to enable healthcare providers to deliver personalized care to their patients. Barco’s Diagnostic roadmap is focused on: • Scalable enter
Slide 73: Surgical & Modality
DIVISION Healthcare BUSINESS UNIT Surgical & Modality Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 74: Surgical & Modality - Retrospect
Surgical & Modality - Retrospect Onboarding of new OR (operating room) First surgical display with integrators on Nexxis mini-LED technology platform 2022 2023 Q2 2025 End of 2025 Cost-effective NexxisCube Development of Smart for digital OR and Surgical Display Ambulatory Surgical Centers ‘Brillian
Slide 75: Industry Trends
Industry Trends Visualization is The rise of Digital workflows AI-powered everywhere the connected user drive productivity transformation Proliferation of innovative Video and audio needs to be Tremendous drive to improve Surgical co-pilots provide medical devices requires shared inside and outside
Slide 76: Market opportunity
Market opportunity Nexxis & NexxisCube • € 2.2 B global integrated OR market: mid-single digit CAGR growth, predominantly OEM-driven • Nexxis well established in high-end segment (strong AV-integration) • NexxisCube as solution for mid-segment ORs (hospitals & ambulatory surgical centers with less A
Slide 77: Addressed market & market share
Addressed market & market share Addressed Barco Market Expected market Barco’s growth market Share evolution opportunity 2024 2024 2025-2028 2025-2028 • Addressing high volume segments (ultrasound, endoscopy) Displays • Mid-single digit CAGR • Strong demand for minimally invasive ~9% surgery (double
Slide 78: Competitive landscape
Competitive landscape Displays AV integration 9% Barco 42% Non-IP 35% Barco 54% Others 37% Sony, Eizo, Beacon, LG 16% 7% Other AVoIP SDVoE Invasion of Asian and cross-sector industrial players (Non-IP) matrix switchers, SDVoE and other AVoIP intensifies market fragmentation are main competitive tech
Slide 79: Clearly defined route to market per segment
Clearly defined route to market per segment MedTech OEM partners End customer Clinical Endoscope camera companies Operating rooms Cathlabs Interventional Surgical robotics companies suites Hybrid operating rooms Patient exam room Medical imaging companies Ambulatory Ambulatory Surgical C
Slide 80: Roadmap & value proposition
Roadmap & value proposition Real time compute & AI Enabling connectivity, improved collaboration & expertise sharing Voice commands transforms OR experience Digital workflows Improve surgical outcomes with & applications platform Assistance apps for pre/intra/post-surgery workflows clinical AI appli
Slide 81: Introducing Brilliant Assistant
Introducing Brilliant Assistant Next generation smart surgical display to power the AI evolution Best-in-class Workflow apps of today, Voice enabled surgical display AI of tomorrow hands-free control Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 82: Conclusion
Conclusion Focus on visualization and interconnectivity solutions for medical devices and operating rooms • Productivity driven by connectivity and workflow solutions • Continuous innovation in advanced visualization Nexxis operating room connectivity platform is basis for expansion • New mid-segmen
Slide 83: Enterprise
Enterprise Meeting Experience Jan van Houtte Control Rooms Tom Sys
Slide 84: Enterprise
Enterprise Enabling confident decisions and seamless collaboration in critical environments 27% Control room of group revenue Virtual reality environment 53% Boardroom Meeting rooms & huddle spaces Meeting Experience 47% Experience center Control Rooms Training center 87% Lobby Eco score % revenues
Slide 85: Retrospect Enterprise
Retrospect Enterprise Control Rooms focuses on software; 1H24 ClickShare inventory corrections impacted topline and margin mix SALES GROSS PROFIT EBITDA (in million euro) (in million euro) (in million euro) 317.2 172.4 303.8 162.9 60.7 56.9 254.1 233.1 127.0 108.6 32.4 14.6 2021 2022 2023 2024 2021
Slide 86: Meeting Experience
DIVISION Enterprise BUSINESS UNIT Meeting Experience Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 87: Meeting Experience - Retrospect
Meeting Experience - Retrospect Complete hardware Partnership with refresh Microsoft Teams and MDEP 2022 2024 2024 2025 ClickShare Bar ClickShare Hub 1.4m Meeting rooms equipped Conferencing ClickShare App > 60% of volume + 25% YoY growth 4.3 User Experience Eye on Tomorrow Barco Capital Eye on To
Slide 88: Industry Trends
Industry Trends Customer behaviour & regulation Hardware vendor trends Portfolio expansion AI-driven user experience across room types Embedded AI Single-vendor preference for sovereignty & quality Commoditisation of hardware Security regulations to drive refresh & focus on advanced features Eye on
Slide 89: Dual landscape of video conferencing solutions
Dual landscape of video conferencing solutions Bring Your Own Device (BYOD) Room systems Meeting runs on personal device Meeting runs on device fixed in the room Meeting room • Dongle or HDMI cable • Control panel on the table equipment • No “compute” • “Compute” to run one fixed UCC app + camera, m
Slide 90: Room system segment expected to drive future growth
Room system segment expected to drive future growth of the video conferencing market 100 M 45 M Approx. 7 M rooms spaces globally dedicated meeting rooms (or 16%) are video enabled Annually newly installed video enabled systems globally in 2024 BYOD Wireless BYOD Room systems Total 370k 214k 950k 1.
Slide 91: Market opportunity
Market opportunity Millions of rooms still to video-enable • Only approx. 16% of 45M meeting rooms are video-enabled (screen+camera+audio) Market refresh wave 2025 to 2027 • Triple replacement cycle expected: • BYOD → Room system • 1st generation Android appliances end-of-life • Windows 10 room devi
Slide 92: Addressed market & market share
Addressed market & market share Addressed Market Expected Barco’s market Share Barco market evolution growth opportunity 2024 (MSRP) 2024 2025-2028 2025-2028 Single digit growing market, €4.3b High growth opportunity ~4% driven by refresh cycle and increase Videoconferencing from future portfolio ex
Slide 93: Competitive landscape
Competitive landscape Barco is the absolute leader in the Wireless presentation and conferencing market with sizeable share in the broader videoconferencing market Wireless presentation* Wireless conferencing** Total videoconferencing market 7% 45% 24% Others >60% 31% ±4% Others Barco Barco Others B
Slide 94: Go-to-Market
Go-to-Market Sales flow Influence / control End Customers Traditional AV & UCC resellers Small IT resellers Direct Market Resellers Channel Distributor managers Efficiency, Scale, Cash flow Managed Service Providers Large Large IT System Integrators accounts (incl F1000) Workplace Consultants Busine
Slide 95: Roadmap & value proposition
Roadmap & value proposition Real time compute & AI Enabling connectivity, workflows & insights Ensure maximal uptime ClickShare App enabling Smart Meeting Flow Digital workflows through agentic AI & applications platform Better collaboration outcomes End-user productivity XMS Cloud driving efficient
Slide 96: From Video-enabled to AI-enabled rooms
From Video-enabled to AI-enabled rooms AI-enabled meeting rooms will bring: Zero disruption collaboration: 1. automation maintenance and support flows Create seamless and natural collaborations in the workplace 2. by leveraging “eyes & ears” of the meeting room Targeting to become one of the leading
Slide 97: Conclusion
Conclusion From leading in niche market Become the brain of the AI enabled meeting room to broad market • Embed AI into every meeting room • Expanding into the fast-growing room systems market • Enable predictive diagnostics, seamless collaboration, and • Building further on Barco’s unmatched legacy
Slide 98: Control Rooms
DIVISION Enterprise BUSINESS UNIT Control Rooms Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 99: Barco Control Rooms - Retrospect
Barco Control Rooms - Retrospect LED TruePix, high- 6 Barco CTRL releases resolution LED, for ensure rapid value control rooms, corporate delivery and enhanced and broadcast customer responsiveness 2022 2023 2024 2025 Barco CTRL, AVoIP 'Connected Control control room solution Room' for secure global
Slide 100: Industry Trends
Industry Trends Risk & Uncertainty Ever more Data Collaboration Sustainability Increased risks and Far more data & data sources Growing need for More focus on uncertainty (cybersecurity, to analyze and manage – collaborative, cross-site sustainable solutions geopolitics, environment) increase of AI-
Slide 101: Addressed market & market share
Addressed market & market share Addressed Market Expected Barco’s market Share Barco market evolution growth opportunity 2024* 2024 2025-2028 2025-2028 € 960M 13% • Focus on operator desk (KVM), growing importance for the control room operator (expanding TAM) Wall & Desk Controller 7% • Stable growt
Slide 102: Competitive landscape
Competitive landscape Display dominated by LED, Controllers market highly fragmented Displays Controllers (Wall & Desk) 7% 25% Barco 25% Barco 30% Others Others 50% 63% Samsung, LG, Leyard, Hikvision, Daktronics Weytec, G&D+VuWall, Haivision, Cyviz, Datapath, Blackbox, … *All data based on global ma
Slide 103: Market Opportunities
Market Opportunities Grow market share, Upgrade Installed Base and Expand product portfolio and market reach Controller Market Consolidation Lead market consolidation by capitalizing on the fragmented landscape and rising cybersecurity barriers that demand strategic investment Mission-critical Secur
Slide 104: Clearly defined route to market per segment
Clearly defined route to market per segment Focus on Large System Integrators and Distribution to grow run-rate business End customer Partner/Integrator Projects • Military & Government • Energy & Utilities • Transportation • NoC & SoC Large System Integrator Partner/Integrator • Manufacturing • Hea
Slide 105: Barco CTRL
Barco CTRL Integrated solution for Control Rooms Simply stand out Scale with your needs Build on our trust Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 106: Roadmap & value proposition
Roadmap & value proposition Workflow support & insights for the Control Room Operator Real time compute & AI Digital workflows Exploration: Data-driven & automated operator support & applications platform • Cross application integration of data AI-driven workflow support Empowering the end user • So
Slide 107: Conclusion
Conclusion Innovation Leader in Operator-Centric Solutions • Expand Barco CTRL from visualization to full operator software solution (desk & wall) • Deliver simplicity, scalability, and cybersecurity to realize operator-centric solutions • Enable AI-powered decision support Expand Market Presence •
Slide 108: Entertainment
Entertainment Cinema Gerwin Damberg Immersive Experience Ta Loong Gan
Slide 109: Entertainment
Entertainment Creating compelling visual experiences that redefine immersive storytelling worldwide TV studio 44% Live events Entertainment Auditorium Meeting rooms 59% Projection mapping Cinema Cinema 41% Immersive Visitor attraction Lobby Experience Museums 61% Eco score % revenues from products w
Slide 110: Retrospect Entertainment
Retrospect Entertainment Continuous margin growth while topline momentum regained from 2H24 SALES GROSS PROFIT EBITDA (in million euro) (in million euro) (in million euro) 460.5 419.3 172.6 399.3 152.8 57.7 54.1 309.7 124.1 91.7 27.5 21.5 2021 2022 2023 2024 2021 2022 2023 2024 2021 2022 2023 2024 3
Slide 111: Cinema
DIVISION Entertainment BUSINESS UNIT Cinema Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 112: Cinema - Retrospect
Cinema - Retrospect Reintegration of #10.000+ additional Cinionic into Barco laser renewal to form a unified cinema commitments with team major exhibitors 2022 2023 2024-2025 2025 Dedicated cinema Recurring revenue Laser renewal Premium team streams commitments footprint New business models HDR by B
Slide 113: Industry Trends
Industry Trends Premiumisation Streamlining Rise of AI Beyond movies Maximize consumer value Technology integration, AI increases efficiency Increased ROI on cinema through growth of automation and software to and relevancy throughout real estate with new premium cinema formats increase operational
Slide 114: Market opportunity
Market opportunity Beyond projection Broaden scope in cinema market, expanding to audio (rendering, amplifier) and grading solutions (HDR lightbox, post-projection) Beyond exhibition Leverage cinema ecosystem incl. post-production, distribution and theater management to strengthen our industry posit
Slide 115: Addressed market & market share
Addressed market & market share Addressed Capture Expected market Barco’s market Rate Barco evolution growth opportunity 2024 2024 2025-2028 2025-2028 Cinema Ca. 60% • Overall mid-single digit volume • Establish strong footprint in € 400m growth YOY premium with HDR by Barco and continue to be the p
Slide 116: Competitive landscape
Competitive landscape Barco is steadily reinforcing its market position Cinema Projectors Premium Cinema Cinema Media Servers Capture Rate new installs Capture rate new installs Capture rate new installs 4% 2% Others 60% 67% Others 54% Barco Barco Barco 36% 33% 44% Christie, Christie, Dolby, GDC Sha
Slide 117: Clearly defined route to market per segment
Clearly defined route to market per segment Dedicated focus on post-production & creative community Trusted by more than • Dedicated Hollywood studio relations team 500+ customers • Dedicated postproduction portfolio : SP4K-P, LS4K-P, Lightbox worldwide • 100% via partners • Business model flexibili
Slide 118: Cinema replacement wave outlook
Cinema replacement wave outlook Projection Wave 1 100% Mature markets 90% Cumulative (%) of projector shipments in region Emerging markets 80% China: new builds 70% Demand peaks 60% 50% Wave 2 40% Mature markets 30% Emerging markets 20% China: replacement wave 10% 0% 2006 2007 2008 2009 2010 2011 20
Slide 119: HDR by Barco: premiumization and business model innovation
HDR by Barco Cinema premiumization and business model innovation Barco HDR Lightsteering technology comes with a substantial opex proportion CAPEX OPEX Downpayment Technology license fee • Activate HDR Financed capex • Service coverage: extended warranty, maintenance, and cleaning License fee option
Slide 120: 2025 HDR Film Slate
2025 HDR Film Slate Studios 2025 YTD And in 2026 • 30+ titles/yr in plan Upcoming • International titles • Repertory programs Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 121: Roadmap & value proposition
Roadmap & value proposition Enabling connectivity, workflows & insights Real time compute & AI Postproduction toolset to enable HDR grading Digital workflows Preventive and predictive AI & applications platform Unified cinema control through software integration Assisted service through augmented re
Slide 122: Conclusion
Conclusion Barco continues to lead the cinema market • Setting the premium standard in cinema • Leading a huge technology renewal wave opportunity • Growing recurring revenue base, linked to long-term contracts Taking bold steps beyond the core • Technology: from projection into audio and grading •
Slide 123: Immersive Experience
DIVISION Entertainment BUSINESS UNIT Immersive Experience Eye on Tomorrow Barco Capital Markets Day 23.10.2025
Slide 124: Immersive Experience - Retrospect
Immersive Experience - Retrospect QDX launch - Global service set-up important enabler for & segment service market share growth models to improve in 40k lumen+ customer NPS projection 2023 2023 1H 2024 2H 2024 2025 Cylindrical LED Opening of Wuxi Encore3 – replacing driving simulation for factory a
Slide 125: Industry Trends
Industry Trends Technology in Wowing Audiences Labor Scarcity Sustainability fast evolution Visual storytelling and new Need for easy and remote Need for power-efficient experiences are on the rise workflows with maximal and sustainable designs AV/IT Convergence, AI uptime Eye on Tomorrow Barco Capi
Slide 126: Market opportunity following key trends
Market opportunity following key trends Live Events Continue to gain share in the profitable 3DLP market by 2028 with premium QDX and new mid- segment projector platforms. Strengthen leading position in high-end image processing with Encore3. Themed Entertainment Become market leader in projection f
Slide 127: Addressed market & market share
Addressed market & market share Addressed Market Expected Barco’s market Share Barco market evolution growth opportunity 2024 2024 2025-2028 2025-2028 € 800 m Themed Entertainment 15% Low single-digit growth Beat market growth by sales € 440 m coverage + portfolio expansion Live Events 25% Low singl
Slide 128: Competitive landscape
Competitive landscape Complementing products & services for complementing segments Themed Entertainment Live Events Simulation/Virtual Exp. 15% 15% 20% 25% 35% 40% Others Barco Others Barco Others Barco TAM TAM TAM €440m €240m €120m 70% Panasonic 55% 25% Epson Projection: Christie, Epson, Panasonic
Slide 129: Clearly defined route to market per segment
Clearly defined route to market per segment End Customers Large System Integrators: Themed Master Contractor Architect/ for larger projects Entertainment: Consultant AV Contractor AV Designer Theme parks Immersive Distributors: spaces small and mid-sized projects Small/Medium AV integrators Other la
Slide 130: Roadmap & value proposition
Roadmap & value proposition Enabling connectivity, workflows & insights Real time compute & AI AI Video Switcher for corporate and events Digital workflows Real Time GPU compute and & applications platform AI switching decision Connected user / end-customer Projection/Content Mapping workflow automa
Slide 131: SwiftAgent – Hybrid corporate events redefined
SwiftAgent – Hybrid corporate events redefined Track. Frame. Switch. The Smart Way SwiftAgent is designed for hybrid corporate events, ideal for a single operator or a small team with no AV or broadcasting expertise The AI intelligently analyzes the scene, evaluates the best shots, and autonomously
Slide 132: SwiftAgent – Hybrid corporate events redefined
SwiftAgent – Hybrid corporate events redefine Track. Frame. Switch. The Smart Way Event Master NEW Focuses on managing large Primarily used in hybrid or in-room events Presentation Switcher screens for presentations SwiftAgent for switching cameras and mixing live video Mid to large size multi-opera
Slide 133: Conclusion
Conclusion New product portfolio powers Immersive Experience growth Premium & Mid Segment products and innovation in AI video switching • Cutting-edge premium product portfolio (QDX and Encore 3) • Expanding mid-segment projection portfolio 2026 - 2028 • Venturing into Corporate AV (SwiftAgent) Grow
Slide 134: Closing and Q&A
Closing and Q&A An Steegen
Slide 135: Focused opportunities across divisions
Focused opportunities across divisions Diagnostic Expand displays and digital workflows in pathology, life sciences and beyond Imaging Healthcare Surgical & Scale Nexxis in mid-segment; expand AI-driven & edge compute workflows Modality Meeting Enter room systems with ClickShare Hub; innovate with A
Slide 136: Barco's key priorities
Barco’s key priorities Expand in core markets Focus on software Optimized capital and connectivity allocation All-in on Entertainment Portfolio adjacencies AI workflow automation M&A opportunities Mid-segment expansion Profitable recurring revenues Flexibly return cash & premium projection to shareh
Slide 137: Q&A
Q&A