1. Martin De Prycker, CEO 25 April 2007
Results 1Q07
Martin De Prycker, CEO
25 April 2007

2. Operational results in € million 1Q 2006 reported 1Q 2006 comparable *
Growth comparable 1Q07/1Q06
Orders
199.6
195.4
237.5
21.5%
Sales
172.1
169.8
172.5
1.6% **
EBIT
9.3
9.1
9.7
6.6%
EBIT %
5.4
5.6
Book-to-bill
1.15
1.38
* 1Q06 on comparable basis, i.e. without divested activities of Manufacturing Services
** 1Q07/1Q06 sales growth 5.6% at equal currency, as $/€ rate declined % vs 1Q06

3. Results per quarter
in € million

4. Overall comments Continued high order input, thanks to
High order intake in most of our markets
Large order for DC in China
Sales growth of 5.6% vs 1Q06 on comparable basis (including currency evolution)
Growth in Media & Entertainment and Security & Monitoring
Decline in Medical Imaging, as last year our sales got a boost, thanks to the UK NHS project
Book-to-bill very high at 1.38
Gross profit margin at 40.5% vs 41.0%
EBIT at € 9.7 million, better than 1Q06

5. Company structure : external reporting
Media &
Entertainment
Security &
Monitoring
Medical
Imaging
Other
markets
Presentation & Simulation
Avionics
Textiles & MES

6. Evolution of results per division (1Q06 on comparable basis)
in € million
1Q06
1Q07
Sales growth1Q07/ 1Q06
Sales
% EBIT
Media & Entertainment
54.6
4.4
57.0
4.6
4.4%
Security & Monitoring
45.3
-2.4
46.3
2.2
2.2%
Medical Imaging
33.0
21.5
31.9
10.5
(3.3%)
Other Markets
48.1
1.4
48.3
5.7
0.4%
Eliminations
-11.2
-11.0
Total
169.8
5.4
172.5
5.6
1.6% *
* 5.6% at comparable €/$ rate

7. Media & Entertainment Division (1)
in € million

8. Media & Entertainment Division (2)
Orders / Sales
Book-to-bill ratio very high at 1.65, with overall + 74% order growth
DC had very high order growth , thanks to one large project in China, with deliveries planned for 2H07 through 2008; sales slightly lower
Events had double digit order and sales growth, thanks to successful launch of new projector and LED products
Media had very strong order growth and slightly increasing sales
Margins
Gross profit margin at 29.8 % vs 31.1% last year, because of strong investment in the extension of the production capacity of this division
Profit margin at 4.6 % (+ 2.4m €) vs 4.4% in 1Q06

9. Security & Monitoring Division (1)
in € million

10. Security & Monitoring Division (2)
Orders / Sales
Book-to-bill high at 1.35
Double digit growth in orders, mainly in the defense and air traffic control markets
Sales slightly increasing, with increase in Control Rooms and Traffic Management. Defense declining, still negatively affected by low orders in 05 and first half 06
Margins
Gross profit margin at 42.5 % vs 40.8% in 1Q06
Profit margin at 2.2% vs -2.4% in 1Q06, thanks to higher sales volume

11. Medical Imaging Division (1)
in € million

12. Medical Imaging Division (2)
Orders / Sales
Book-to-bill ratio at 1.09
Weaker orders and sales in PACS vs 1Q06, which was particularly strong thanks to NHS project in UK
Modality orders higher, but sales slightly lower
Margins
Gross profit margin at 45.3% vs 48.9%, lower than last year, due to volume and price decline
Good profit margin at 10.5%, lower than 21.5% in 1Q06, due to lower volume and lower gross profit margin

13. Other Markets (1)
in € million

14. Other markets (2) Orders / Sales Margins
Higher orders and sales in simulation market and lower orders and sales in presentation market
Orders and sales in Avionics lower than 1Q06
Both orders and sales growing in BarcoVision
Margins
Gross profit margin at 39.1% vs 37.7% in 1Q06
EBIT margin at 5.7% vs 1.4% in 1Q06

15. Geographical breakdown of sales
1Q06
1Q07
EMEA
AMERICAS
APAC
* Very high order intake in Apac

16. Key figures Income Statement reported 2006
in € million
1Q06 %
1Q07
Sales
Cost of goods sold
172.1
-101.3
100.0
-58.9
172.5
-102.6
-59.5
Gross Profit Research & Development
Sales & Marketing
General & Administration
Other operating result
70.7
-16.8
-29.8
-14.2
-0.7
41.1
-9.8
-17.3
-8.2
-0.4
69.9
-17.4
-29.3
-13.2
-0.2
40.5
-10.1
-17.0
-7.6
-0.1
EBIT
Goodwill
9.3
0.0
5.4
9.7
5.6
Operating Result
Non-operating result
Income Taxes
-2.0
-1.1
-1.7
-1.0
Net Income
7.4
4.3
7.5
4.4
Current Cash Flow
21.8
12.7
21.7
12.6
EBITDA
23.7
13.8
23.8
Current Earnings per Share (in €)
0.61
0.62
Net Earnings per Share (in €)

17. Key figures Income Statement (on comparable basis)
in € million
1Q06 %
1Q07
Sales
Cost of goods sold
169.8
-100.2
100.0
59.0
172.5
-102.6
-59.5
Gross Profit Research & Development
Sales & Marketing
General & Administration
Other operating result
69.6
-16.8
-29.6
-13.5
-0.7
41.0
-9.9
-17.4
-7.9
-0.4
69.9
-29.3
-13.2
-0.2
40.5
-10.1
-17.0
-7.6
-0.1
EBIT
9.1
5.4
9.7
5.6

18. Key figures Balance Sheet
in € million
31/03/06
31/12/06
31/03/07
Accounts Receivable
173.7
218.6
188.5
Inventory
154.8
146.7
172.6
Trade Payables
79.1
69.4
84.3
Cash
106.4
81.4
81.1
Financial Debt
66.4
93.8
69.8

19. Expectations full year 2007
High orders in 1Q07 increase our confidence in reaching our sales growth targets for 2007 between 6% and 9%, supported by new products being introduced in 2007
Profit increase for 2007 confirmed vs 2006, but $ uncertainty remains
The divestitures are running according to plan
Mechanical part targeted for mid 2007
Vision targeted for second half of 2007

20. Questions & Answers