Barco is on a mission to enable bright outcomes by transforming content into insight and emotion.
Barco is on a mission to enable bright outcomes by transforming content into insight and emotion. To guide us in pursuing that mission, we introduced a new strategy in 2017. Building on our strengths and inspired by a series of technological and socio-economic trends, our strategy outlines how we plan to maintain and build on our role in today’s digitally accelerating world.
The Barco strategy is a work in progress. It aims to maximize our business opportunities across three time horizons in three ‘chapters’. Since 2019, we have been focusing on growth and expanding our hardware, software and service capabilities. Disruptions like the 2020 covid-19 pandemic, market dynamics, materiality and evolving risks are constantly shaping our strategy. Although they may impact the progress and timing of some strategic objectives, they will not change the course of our strategy.
Objective: focus on performance and shape the organization, product portfolio and market strategies to build a healthier, more resilient platform for future growth.
Target: EBITDA from 8% in 2016 to 12% in 2018, with a flat top-line
Objective: focus on growth by further expanding our capabilities, footprint, skills and portfolio while keeping our focus on operational efficiency.
Target: efficient sales growth (mid + single digit per year) and EBITDA margin between 14% and 17%
Objective: focus on enabling bright outcomes by delivering a combination of hardware, software and services via new business models.
Target: growth in recurring revenues and sustained topline and profit growth
Barco’s corporate strategy is built around four strategic levers – four priorities that form the Barco DNA.
Our world and our markets are currently changing faster than ever. As these changes largely impact our customers’ businesses as well as ours, it is key to understand today’s market dynamics and take them into account when implementing our strategy and monitoring progress.
A materiality assessment helps organizations understand what economic, environmental and social topics matter most to their business and stakeholders. Barco regularly updates its materiality assessment to make sure it reflects changes in its business and the external environment. In 2020, we conducted a new, extensive materiality assessment, based upon and aligned with our Integrated Reporting approach, in close cooperation with all our stakeholders. More than 110 stakeholders participated in the assessment, as well as 70 leaders of Barco including the Core Leadership Team.
Within the context of its business operations, Barco is exposed to a wide variety of risks that can affect its ability to achieve its objectives and to execute its strategy successfully. Every year, we perform a company-wide risk assessment and compliance gap analysis to identify, prioritize, manage and monitor the risks that impact our organization.
