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1 Innovators in image processing Martin De Prycker, President & CEO BARCO Results third quarter 2002 November 7, 2002.

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Presentation on theme: "1 Innovators in image processing Martin De Prycker, President & CEO BARCO Results third quarter 2002 November 7, 2002."— Presentation transcript:

1 1 Innovators in image processing Martin De Prycker, President & CEO BARCO Results third quarter 2002 November 7, 2002

2 2 Operational results Q302 in € millionQ302YTD02Q301YTD01 Orders Sales EBIT EBIT %7.7%8.4%1.4%8.7%

3 3 Orders higher than Sales for 3 rd consecutive quarter * Results 2001 “pro forma” i.e. incl. dotrix n.v., Barco Graphics not consolidated (in € million)

4 4 Results Barco Orders: order book has further increased in Q302 by € 18 million Sales: sales Q302 traditionally weak because of reduction in shipments to European customers due to holiday season Additional impact from Delayed internal deliveries due to transfer of mechanical manufacturing from Belgium to Czech Republic Yield problems with external suppliers EBIT: Slight increase of gross margin from 55% for 1H02 to 56% in Q302 by Ongoing introduction of new features, compensating price pressure Ongoing cost improvement Further reduction of manpower from 4132 end 2001, to 4000 employees worldwide

5 5 BarcoProjection (1) (in € million )

6 6 BarcoProjection (2) Sales Control Rooms: Growth in new markets compensates low investments from Telecom Orders Telecom picking up again in Q4 New stand-alone projector iQ Has won several awards Not taking off fast enough yet Higher market share in V&AR thanks to growth in US market and TAN acquisition Events: Q3: weaker investments by Events customers, picking up again in Q4 Media Media projects delayed New product for Media applications available as of begin ‘03 Hopeful signs from Digital Cinema, particularly in China EBIT: margin well maintained at 10.1% vs comparable quarters, Q301 (2.1%) and Q102 (9.3%), despite lower sales

7 7 BarcoView (1) (in € million)

8 8 BarcoView (2) Orders: Orders in Security and Defense picking up again for existing and new programs Ongoing strong orders for ATC and Medical Sales: ongoing successes in Air Traffic Control (ATC) Further market penetration of flat LCD panel, also in USA Strengthening of market position by acquisition of Orthogon Medical Introduction of high-end flat screens for Medical of 1, 2 and 5 megapixel besides 3 megapixel EBIT: much better than Q301

9 9 Orthogon joined Barco (Oct 1, 2002) Strategy: ATC is extending its portfolio with software and integration services, also towards end users Market Share Orthogon: Mainly ATC (80%) and expanding into Security & Defense to offer software and integration services System integrators and end users Mainly Europe (80%) with market leadership Short term growth potential in USA in ATC Long term growth potential in Security & Defense

10 10 BarcoVision Textile machine market in China and Turkey continues to go strong Sales weaker in Q3 due to seasonal effect (in € million)

11 11 Barco Subcontracting Increase in manufacturing with components in consignment results in lower sales but yields higher gross margin (in € million)

12 12 Geographical breakdown of Turnover per Activity (%) EUNaftaAsiaROW BarcoProjection BarcoView BarcoVision Total Q Total 1H Total

13 13 OWC: Inventory Inventory on same level as end Q202 due to slack in deliveries and in preparation of higher sales in Q402

14 14 OWC: Accounts Receivable (incl. BG) Days outstanding

15 15 Net cash position in € million

16 16 Results Q3 & YTD in € millionQ302YTD02Q301*YTD01* EBIT Current Result Taxes (3.2) (9.6) (0.3)(12.9) Curr. Res. after Taxes Extra-Ordinaries0(28.1)0 (0.4) Amort. Of goodwill Net result 7.0 (0.5) (0.6)23.9 Current EPS** Current cash Flow *”pro forma”, i.e. incl. dotrix n.v., Barco Graphics not consolidated ** in euro

17 17 Expectations Q402 and Full Year Sales Q4: 175/185 million euro, bringing 2002 sales to slightly lower level than 2001 Outspoken growth in BarcoView vs Q401 leading to increase in sales Year on Year Sales BarcoProjection lower vs Q401 resulting in slightly lower sales Year on Year Higher sales in BarcoVision vs Q401 but still lower Year on Year 2.Profitability expected in the range of 21/25 million euro leading to considerably higher EBIT Year on Year 3.Current EPS full year 2002 expected between € 3.80 and € 4, i.e. an increase of at least about 40% compared to 2001

18 18 Innovators in image processing Questions & Answers


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