Group results
Sales per division
Sales
In millions of euro
Gross Profit
In millions of euro
EBITDA
In millions of euro
Key figures
Comments on the results
Sales for the year were 770 million euro, down 29% against 2019, reflecting the impact of the covid-19 pandemic on our end-markets across all regions. The gross profit margin for the year declined 3 percentage points to 37%, mainly due to an unfavorable product mix. As operating expenses for 2020 were managed down to 20% below 2019, while sustaining investments in priority projects, EBITDA amounted to 54 million euro for a 7% EBITDA margin. Q4 improved over Q3 including a 20% quarter-over-quarter recovery in order intake and 17% uptake in sales – with all divisions contributing to this progress.
Highlights
Financial
Income statement (in millions of euro) | 2020 | 2019 | 2018 |
---|---|---|---|
Orders | 746.0 | 1,102.2 | 1,046.9 |
Orderbook | 281.5 | 322.3 | 303.2 |
Sales | 770.1 | 1,082.6 | 1,028.5 |
Gross Profit | 283.8 | 429.3 | 413.0 |
Gross Profit Margin | 36.9% | 39.7% | 40.1% |
EBITDA | 53.6 | 153.0 | 124.5 |
EBITDA margin | 7.0% | 14.1% | 12.1% |
Adjusted EBIT | 10.2 | 110.0 | 90.0 |
Adjusted EBIT margin | 1.3% | 10.2% | 8.7% |
Net income attributable to the equityholder of the parent | -4.4 | 95.4 | 75.0 |
Net income Margin | -0.6% | 8.8% | 7.3% |
EPS (in euro) | -0.05 | 1.09 | 0.86 |
Diluted EPS (in euro) | -0.05 | 1.07 | 0.85 |
Balance sheet & Cash flow | 2020 | 2019 | 2018 |
---|---|---|---|
Equity | 697.1 | 740.7 | 635.0 |
Balance sheet total | 1,018.2 | 1,174.2 | 1,047.3 |
Free cash flow | -35.9 | 88.7 | 63.2 |
Net financial cash/(debt) | 193.5 | 329.4 | 332 |
Operating captial employed | 291.1 | 262.7 | 223.0 |
Net Working capital | 80.6 | 30.2 | 2.5 |
Ratios | 2020 | 2019 | 2018 |
---|---|---|---|
DSO | 67.0 | 55.0 | 52.0 |
Inventory turns | 2.3 | 3.2 | 3.8 |
DPO | 53 | 71 | 59 |
ROCE | 3% | 25% | 23% |
Debt/Equity | 6.8% | 7.5% | 6.0% |
ROE | -0.7% | 13.0% | 12.0% |
Share data | 2020 | 2019 | 2018 |
---|---|---|---|
Gross dividend | 0.378 | 0.378 | 0.329 |
Gross dividend yield (a) | 2.1% | 1.2% | 2.3% |
Yearly return (b) | -41.8% | 123.8% | 13.2% |
Pay-out ratio (c) | -787.1% | 36.3% | 40.1% |
Price/earnings ratio (d) | -358.0 | 28.8 | 16.4 |
(a) Gross dividend / share price at year-end closing date
(b) Increase or decrease share price + gross dividend paid out in the year, divided by closing share price of previous year
(c) Gross dividend*number of shares on 31 December / net income attributable to the equity holder of the parent
(d) Share price 31 December / earnings per share
Share price (in euro) | 2020 | 2019 | 2018 |
---|---|---|---|
Average closing price | 21.22 | 23.80 | 15.09 |
Closing price on 31 December | 17.82 | 31.29 | 14.13 |
Average number of shares traded daily (Euronext Brussels) | 279,797 | 171,185 | 162,505 |
Stock market capitalization on 31 December (in millions) | 1,630.3 | 2,862.1 | 1,292.4 |
Number of shares (in thousands) | 91,487 | 91,482 | 91,471 |
Manufactured
2020 | 2019 | 2018 | |
---|---|---|---|
Sales per employee (€) | 218,836 | 301,552 | 286,339 |
Capex as % of sales | 1.9% | 1.9% | 2.5% |
Number of key & core suppliers (covering X% of material cost) | 142 (81%) | N/A | N/A |
Number of iGemba improvement suggestions | 3,485 | 6,079 | 6,031 |
Percentage of iGemba improvement suggestions implemented | 92% | 94% | 86% |
make (over hardware revenues) | 69.6% | 63.1% | 65.4% |
Countries with a manufacturing facility | 4 | 5 | 6 |
ROCE | 3% | 25% | 23% |
Inventory turns | 2.3 | 3.2 | 3.8 |
Intellectual
2020 | 2019 | 2018 | |
---|---|---|---|
of employees in R&D | 28.5% | 26.0% | 23.8% |
Number of patents at year-end | 461 | 402 | 366 |
Number of new patent filings | 9 | 8 | 18 |
Innovation awards | 8 | 8 | 16 |
New product releases (FQRs - hardware) | 25 | 20 | N/A |
New software releases (MRDs) | 105 | 64 | 35 |
R&D spend (in % of sales) | 13.3% | 11.0% | 11.7% |
Planet
2020 | 2019 | 2018 | |
---|---|---|---|
revenues from products with Barco ECO label (hardware) | 23% | N/A | N/A |
Percentage of new products released with Barco ECO label (hardware) | 48% | 23% | N/A |
Percentage of new products released with recycled plastics (hardware) | 4% | N/A | N/A |
Energy efficiency index of sold products (#) | 0.73 | 0.8 | 0.86 |
Total greenhouse gas emissions (Tonnes CO2 e /mio € revenues) | 360.1 | 423.3 | 548.8 |
Total greenhouse gas emissions (Tonnes CO2 e ) | 277,318 | 458,441 | 564,753 |
Greenhouse gas emissions of our own operations (ton CO2/mio € revenues) | 53.4 | 64.3 | 67.9 |
Greenhouse gas emissions of sold products (product use emissions) (Tonnes CO2 e / mio € revenues) | 306.7 | 359.02 | 480.9 |
Total energy consumption (MWh/mio € revenues) | 34.3 | 33.7 | 41.1 |
energy consumption from renewable sources | 53.5% | 28.9% | 28.8% |
Total solid waste (Ton/mio € revenues) | 2.52 | 2.32 | 1.54 |
Recycling & composting rate of solid waste (%) | 52% | 61% | 70% |
waste to landfill | 29% | 26% | 14% |
People
2020 | 2019 | 2018 | |
---|---|---|---|
Internal mobility (% of vacancies filled internally) | 20% | 24% | 25% |
Voluntary turnover rate | 9.6% | 9.1% | 9.1% |
Number of new (external) hires | 374 | 653 | 691 |
women Barco overall | 27.6% | 28.4% | 28.1% |
women in senior management | 17% | 15% | 16.6% |
Number of employees (heads) * | 3,303 | 3,636 | 3,664 |
Lost Time Injury Severity rate | 0.07 | 0.05 | N/A |
Percentage of leaders in Annual Talent Development Review | 30% | 44% | N/A |
Average training hours per employee | 11.3 | 13.2 | 16.9 |
Percentage of employees having received training | 85% | 61% | 68% |
* Reporting in heads (non FTE), excluding temporary workforce (Database Corporate Associates per 31/12/2020
Communities
2020 | 2019 | 2018 | |
---|---|---|---|
Community involvement (heads) | +130 | +230 | +100 |
Community investment (€) | 141,920 | 163,400 | 102,000 |
Customer Net Promotor Score (relationship NPS) | 47 | N/A | N/A |
Number of product lines in scope of ISO 27001 | 2 | 1 | 1 |
employees trained in Standards@Work | 98% | 99% | 94% |
Number of certified dealers/partners | 1,184 | 579 | 555 |
key(+) and core suppliers that signed declaration of compliance with RBA Code of Conduct (Responsible Business Alliance) | 98% | 98% | 95% |