Group results

Sales per division

38%
Entertainment
28%
Enterprise
34%
Healthcare

Sales

In millions of euro

770.1
2020
1,082.6
2019
1,028.5
2018

Eco score

48%

Percentage of new product releases with a Barco ECO label

Eco score

Net promotor score

47

NPS is Barco’s standard customer experience metric, measured quarterly

New NPS

Gross Profit

In millions of euro

283.8
2020
429.3
2019
413.0
2018

EBITDA

In millions of euro

53.6
2020
153.0
2019
124.5
2018

Key figures

193.5
Net cash
(in millions of euro)
770.1
Group sales
(in millions of euro)
7%
EBITDA margin
1.90%
Capex
(in % of sales)
92%
iGemba improvement suggestions implemented
3%
ROCE
430
Number of patents at year-end
10
Number of new patent filings
13.3%
R&D spend
(in % of sales)
48%
New products released with Barco ECO label
(hardware)
27%
Energy footprint reduction of sold products
(vs 2015)
34%
Carbon footprint reduction of own operations
(vs 2015)
53.5%
Energy consumption from renewable sources
3,303
Number of employees
(heads)
20%
Internal mobility
(% of vacancies filled internally)
17%
Women in senior management
2.44
Lost time injury frequency rate
47
Customer Net Promotor Score
98%
Employees trained in Standards@Work
98%
Key(+) & core suppliers that signed declaration of compliance with RBA Code of Conduct
(Responsible Business Alliance)
Highlights 3

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.

Read more

Highlights

Financial

Income statement (in millions of euro)202020192018
Orders746.01,102.21,046.9
Orderbook281.5322.3303.2
Sales770.11,082.61,028.5
Gross Profit283.8429.3413.0
Gross Profit Margin36.9%39.7%40.1%
EBITDA53.6153.0124.5
EBITDA margin7.0%14.1%12.1%
Adjusted EBIT10.2110.090.0
Adjusted EBIT margin1.3%10.2%8.7%
Net income attributable to the equityholder of the parent-4.495.475.0
Net income Margin-0.6%8.8%7.3%
EPS (in euro)-0.051.090.86
Diluted EPS (in euro)-0.051.070.85
Balance sheet & Cash flow202020192018
Equity697.1740.7635.0
Balance sheet total1,018.21,174.21,047.3
Free cash flow-35.988.763.2
Net financial cash/(debt)193.51,102.21,046.9
Operating captial employed291.1262.7223.0
Net Working capital80.630.22.5
Ratios202020192018
DSO67.055.052.0
Inventory turns2.33.23.8
DPO537159
ROCE3%25%23%
Debt/Equity6.8%7.5%6.0%
ROE-0.7%13.0%12.0%
Share data202020192018
Gross dividend0.3780.3780.329
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)-358.028.816.4

(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)202020192018
Average closing price21.2223.8015.09
Closing price on 31 December17.8231.2914.13
Average number of shares traded daily (Euronext Brussels)279,797171,185162,505
Stock market capitalization on 31 December (in millions)1,630.32,862.11,292.4
Number of shares (in thousands)91,48791,48291,471

Manufactured

202020192018
Sales per employee (€)218,836301,552286,339
Capex as % of sales1.9%1.9%2.5%
Number of key & core suppliers (covering X% of material cost)142 (81%)N/AN/A
Number of iGemba improvement suggestions3,4856,0796,031
Percentage of iGemba improvement suggestions implemented92%94%86%
make (over hardware revenues)69.6%63.1%65.4%
Countries with a manufacturing facility456
ROCE3%25%23%
Inventory turns2.33.23.8

Intellectual

202020192018
of employees in R&D28.5%26.0%23.8%
Number of patents at year-end430400366
Number of new patent filings101014
Innovation awards8816
New product releases (FQRs - hardware)2520N/A
New software releases (MRDs)1056435
R&D spend (in % of sales)13.3%11.0%11.7%

Planet

202020192018
revenues from products with Barco ECO label (hardware)23%N/AN/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/AN/A
Energy efficiency index of sold products (#)0.730.80.86
Total greenhouse gas emissions (Tonnes CO2 e /mio € revenues)360.1423.3548.8
Total greenhouse gas emissions (Tonnes CO2 e )277,318458,441564,753
Greenhouse gas emissions of our own operations (ton CO2/mio € revenues)53.464.367.9
Greenhouse gas emissions of sold products (product use emissions) (Tonnes CO2 e / mio € revenues)306.7359.02480.9
Total energy consumption (MWh/mio € revenues)34.333.741.1
energy consumption from renewable sources53.5%28.9%28.8%
Total solid waste (Ton/mio € revenues)2.522.321.54
Recycling & composting rate of solid waste (%)52%61%70%
waste to landfill29%26%14%

People

202020192018
Internal mobility (% of vacancies filled internally)20%24%25%
Voluntary turnover rate9.6%9.1%9.1%
Number of new (external) hires374653691
women Barco overall27.6%28.4%28.1%
women in senior management17%15%16.6%
Number of employees (heads) *3,3033,6363,664
Lost Time Injury Severity rate0.070.05N/A
Percentage of leaders in Annual Talent Development Review30%44%N/A
Average training hours per employee11.313.216.9
Percentage of employees having received training85%61%68%

* Reporting in heads (non FTE), excluding temporary workforce (Database Corporate Associates per 31/12/2020

Communities

202020192018
Community involvement (heads)+130+230+100
Community investment (€)141,920163,400102,000
Customer Net Promotor Score (relationship NPS)47N/AN/A
Number of product lines in scope of ISO 27001211
employees trained in Standards@Work98%99%94%
Number of certified dealers/partners1,184579555
key(+) and core suppliers that signed declaration of compliance with RBA Code of Conduct (Responsible Business Alliance)98%98%95%