Group results

Sales per division

39%
Entertainment
29%
Enterprise
33%
Healthcare

Sales

In millions of euro

1,083
2019
770
2020
804
2021

Eco score

31%

% revenues from products with Barco ECO label

Eco score

Customer NPS (Net Promotor Score)

47

Barco's standard customer experience metric, measured quarterly (upper quartile industry performance)

New NPS

Gross Profit

In millions of euro

429
2019
284
2020
288
2021
Gross profit margin
40%
37%
36%

EBITDA

In millions of euro

153
2019
54
2020
59
2021
EBITDA margin
14%
7%
7%
16

Comments on the results

Orders for 2021 were 979 million euro, up 31% compared to 2020, driven by solid economic recovery across all markets and all regions. Sales for the year increased by 4% to 804 million euro, still reflecting ongoing impact of the pandemic on business activities and component shortages (estimated impact in 4Q21 was approximately 15 million euro).

At the end of 2021, the order book was at a record level of 487 million euro - 73% up over 2020.

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Highlights

FinancialManufacturedIntellectualPlanetPeopleCommunities

Financial

Income statement202120202019
Orders978,8746.01,102.2
Order book487,0281.5322.3
Sales804,3770.11,082.6
Gross Profit287,5283.8429.3
Gross Profit Margin35,7%36.9%39.7%
EBITDA58,553.6153.0
EBITDA margin7,3%7.0%14.1%
Adjusted EBIT19,410.2110.0
Adjusted EBIT margin2,4%1.3%10.2%
Net income attributable to the equityholder of the parent8,9-4.495.4
Net income Margin1,1%-0.6%8.8%
EPS (in euro)0,10-0.051.09
Balance sheet & Cash flow202120202019
Equity734,8697.1740.7
Balance sheet total1.104,21,018.21,174.2
Free cash flow78,0-35.988.7
Net financial cash/(debt)309,7193.5329.4
Operating captial employed251,4291.1262.7
Net Working capital45,680.630.2
Ratios202120202019
DSO5667.055.0
DPO805371
Debt/Equity6,4%6.8%7.5%
ROE1,3%-0.7%13.0%
Share data202120202019
Gross dividend0,4000.3780.378
Gross dividend yield (a)2,1%2.1%1.2%
Yearly return (b)9,6%-41.8%123.8%
Pay-out ratio (c)415,1%-787.1%36.3%
Price/earnings ratio (d)191,9-358.028.8

(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)202120202019
Average closing price20,0421.2223.80
Closing price on 31 December19,1617.8231.29
Average number of shares traded daily (Euronext Brussels)165.296279,797165.784
Stock market capitalization on 31 December (in millions)1.766,01,630.32,862.1
Number of shares (in thousands)92.17091,48791,482

(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

Manufactured

202120202019
% make66,2%69.6%63.1%
Countries with a manufacturing facility445
ROCE4%3%25%
Inventory turns2,42.33.2
Capex (in % of sales)2,3%1,9%1,9%

Intellectual

202120202019
% of employees in R&D30,1%28.5%26.0%
Number of patents at year-end504461402
Number of new patent filings1398
R&D spend (in % of sales)12,6%13.3%11.0%
R&D spend (in mio €)101103,0119,0
Number of innovation awards1188

Planet

Product stewardship202120202019
Revenues from products with Barco ECO label (mio € revenues)226,2178,9
% revenues from products with Barco ECO label31%26%
Energy efficiency index of sold products (#)0,700,730,80
% energy footprint reduction of sold products (vs 2015)-30%-27%-20%
Greenhouse gas emissions of sold products (product use emissions, in tonnes CO₂ e /mio € revenues)296,9306,7359,0
Climate change & energy202120202019
Total greenhouse gas emissions (Tonnes CO₂ e)281.874277.335458.441
Total greenhouse gas emissions (Tonnes CO₂ e /mio € revenues)350,5360,1423,3
Greenhouse gas emissions of our own operations (Tonnes CO₂ e /mio € revenues)53,653,464,3
% greenhouse gas emissions reduction of own operations (vs 2015)-33%-34%-20%
Energy consumption in own operations (MWh/mio € revenues)39,034,333,7
% energy consumption from renewable sources52,4%53,5%28,9%

People

202120202019
Number of employees at the end of the financial year (heads)*3.1413.3033.636

* Reporting in heads (non FTE), ecluding temporary workforce (Database Corporate Associates per 31/12/2021)

Employee engagement202120202019
Employee Net Promoter Score38,5
Voluntary turnover rate (% of heads)10,5%9.6%9,1%
Diversity & Inclusion202120202019
% women overall27,1%27,6%28,4%
% women in senior management16%17%15%
Number of nationalities in the global workforce444445
Learning & Development202120202019
Internal mobility (% of vacancies filled internally)20%20%24%
Average training hours per employee (# hours)10,511,313,2
Employee Health, Safety & Wellbeing202120202019
Lost time injury frequency rate (per 1 000 000 hours worked)1,592,442,73

Communities

Customer engagement202120202019
Customer Net Promoter Score (relationship NPS)4747
Business ethics202120202019
% employees trained in Standards@Work (white collars)999899
Responsible supply chain management202120202019
% of production spend covered by supplier sustainability score58,243,8
Information security a data protection202120202019
Number of product lines in scope of ISO 27001221
Average cybersecurity maturity (NIST CSF) score2,232,19
All statements
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