1. 14 May 03, page 1 Company Confidential Results First Quarter 2003 First Reporting in IFRS Format Press Conference May 14, 2003 Martin De Prycker President & CEO

2. 14 May 03, page 2 Company Confidential Operational Results Q1 2003 in € million Q1 2003Q1 2002 Orders157.9167.5 Sales151.1152.2 EBITA15.410.9 EBITA % 10.2 7.1

3. 14 May 03, page 3 Company Confidential Results per Quarter in € mio

4. 14 May 03, page 4 Company Confidential Overall Comments Q1 2003 Sales flat versus 2002, at actual €/$ rate Sales increased with 9 % at unchanged €/$ rate versus Q1 02 Book-to-bill ratio 1.05 > 1, but lower than 2002 (1.10) EBITA increased with 42 % y/y thanks to gross profit improvement from 41 % to 44 % due to –Lower component cost –More outsourcing –Lower labor cost manufacturing –Product mix –Reduction in inventory write offs

5. 14 May 03, page 5 Company Confidential BarcoProjection (1) in € mio

6. 14 May 03, page 6 Company Confidential BarcoProjection (2) Sales –Weak sales caused by economic uncertainty, mainly affecting Media Control rooms in utilities Simulation in civil aviation Orders –First successes in Media Europe and acquisitions will create steady growth in US and China for the future –Good book-to-bill ratio (1.14) EBITA –Gross profit improved from 43 % to 45 %, but lower sales level results in weak EBITA of 4 % New products introduced –Mid range simulator projector using DLP –S-lite media LED wall –Control room using DLP Acquisition Status –Trans-Lux: closed 29 March 2003 –Leyard: delayed closing until July 2003 because of SARS

7. 14 May 03, page 7 Company Confidential BarcoView (1) in € mio

8. 14 May 03, page 8 Company Confidential BarcoView (2) Sales –Medical Imaging and Air Traffic Control performing extremely well, resulting in 62 % more sales y/y Orders –Orders increased 20% y/y –Orders in Defense & Security low because of war, but market pick up anticipated for 2nd half 2003 –Problems in air traffic cause some delays in Asia and US EBITA –Gross profit improved from 43 % to 46 % by increased outsourcing of medical and better efficiency in operations/supply chain –Profit margin strong at 17 % New products introduced –5 MP medical flat panel now also in clearbase

9. 14 May 03, page 9 Company Confidential BarcoVision (1) in € mio

10. 14 May 03, page 10 Company Confidential BarcoVision (2) Sales –Growth of 12 % –Textile business continues performing well –Weaker sales for Machine Vision Orders –Good book-to-bill ratio, at 1.12, but end of growth of cyclical textile business anticipated in 2nd half 2003 –Strong order intake for MachineVision EBITA –Gross profit improved from 38 % to 44 % y/y –Profit margin strong at 17 %

11. 14 May 03, page 11 Company Confidential Barco Subcontracting in € mio Weaker orders and sales but stable profit margin at 4.8 %

12. 14 May 03, page 12 Company Confidential Geographical Breakdown of Sales Q1 2003 Q1 2002

13. 14 May 03, page 13 Company Confidential Key Figures Income Statement in € million Q1 03Q1 02 Sales Cost of goods sold 151.1 -84.4 152.2 -89.4 Gross Profit Research & Development Sales & Marketing General & Administration Other operating income 66.7 -16.7 -24.2 -11.9 1.5 62.8 -17.1 -24.1 -11.9 1.2 EBITA Goodwill amortization 15.4 -1.6 10.9 -1.2 Operating Result13.89.7 Non-operating Result0.40.0 Income Taxes Share of results of assoc. companies Minority interest -4.3 0.0 -3.0 0.0 Net Income9.86.7 Earnings per Share (in €)0.790.54

14. 14 May 03, page 14 Company Confidential Key Figures Balance Sheet in € million 31/03/0331/12/02 Accounts Receivable147.0158.5 Inventory131.3118.0 Net cash92.188.1

15. 14 May 03, page 15 Company Confidential Expectations Q2 2003 Economic uncertainty and SARS continue to keep investment climate weak in certain markets Dollar decline impacts both sales – as 45 % of our sales is in $ related currencies – and EBITA Sales 150-160 € million EBITA around 10 % Continue to improve internal processes and sales coverage and develop new products to be ready to benefit from economic rebound, whenever that happens

16. 14 May 03, page 16 Company Confidential Introduction IFRS Antoon Van Petegem Vice-President & CFO

17. 14 May 03, page 17 Company Confidential Impact Introduction IFRS Total impact (in € mio) Old IFRS Difference Rules Rules Net Equity336.9 382.8+45.8 EBITA 72.1 71.2 -0.9 Net Result 21.6 17.7 -3.9

18. 14 May 03, page 18 Company Confidential Depreciation of Tangible Fixed Assets Depreciation 1st year: from full year depreciation to pro rata depreciation –Impact on results 2002: -1.5 € mio –Half year of investments more on balance sheets: +7.9 € mio

19. 14 May 03, page 19 Company Confidential Capitalized R&D ± Same amounts capitalized + : higher rate/hour (full cost) - : only product development Depreciation starts later: past: full year depreciation first year IFRS: commercial product on market  on average 6 months later Impact on balance sheet 2002: + 16.5 € mio Impact on 2002 results: + 2.3 € mio

20. 14 May 03, page 20 Company Confidential Capitalized R&D (continued) Higher net value on balance sheet: ± 50% increase

21. 14 May 03, page 21 Company Confidential Goodwill Reallocation of part of the goodwill to (undervalued) assets First year: pro rata temporis amortization Standard amortization over 10 years (instead of 5 – 10 – 20 years) Yearly impairment check Impact on balance sheet 2002: - 16.2 € mio Impact on 2002 results: -0.2 € mio

22. 14 May 03, page 22 Company Confidential Inventory Past –Standard cost, revised at year end –Direct manufacturing cost IFRS –FIFO –Full manufacturing cost Impact on balance sheet 2002: + 8 € mio Impact on 2002 results: - 1 € mio

23. 14 May 03, page 23 Company Confidential Others (in € mio) ImpactImpact 2002 2002 resultbalance sheet Deferred tax assets and liabilities -2.0 +8.6 Derivatives and currency gains/losses +0.4 +0.4 Provisions for 2002 -1.6 -1.2 –Maintenance building –Social liabilities Dividend included in net equity - +23.8 Investment grants no longer in net equity - -2.3

24. 14 May 03, page 24 Company Confidential Questions and Answers