Barco NV

Earnings Release • Oct 17, 2018

TRADING UPDATE 3Q18

Kortrijk, Belgium, 17 October 2018, 07:30 am CET – Today Barco (Euronext: BAR; Reuters: BARBt.BR; Bloomberg: BAR BB) announced the results for the third quarter ended 30 September 2018.

Note: To present comparable data for 2017, prior year figures below are presented on a pro-forma basis assuming the deconsolidation of the BarcoCFG joint venture had taken place on July 1, 2017. Reported and pro forma figures for the prior four quarters can be found in the appendix.

Sales for the quarter were 248.7 million euro, an increase of 2.6% compared to 242.5 million euro for the third quarter of 2017.

Incoming orders booked during the third quarter of 2018 were 243.3 million euro, a decrease of 6.1% compared to the third quarter of 2017.

Order book as of 30 September 2018 stood at 319.5 million euro, a 0.8% decrease compared to the third quarter of last year and a 12% increase compared to year-end 2017.

Entertainment registered single digit declines in orders and sales mainly as a result of a softening demand for cinema in China, while growth picked up in cinema for both the American and European regions.

Orders and sales for the Enterprise division showed solid growth results year-over-year driven by continued momentum for ClickShare and ramping-up for the Barco UniSee control room product. The Healthcare division produced high single digit growth in sales primarily driven by continued strong demand in its surgical segment, while order intakes were lower, as anticipated, following strong order intakes in 1H18 and bulk order bookings in 3Q17.

Based on a good order book, strong sales funnels and measurable progress in different domains, management expects 2018 sales to be comparable to 2017 on a pro forma base, with improved EBITDA.

Quote of the CEO, Jan De Witte

"We delivered growth in cinema in orders and sales for both the American and European market, and are well positioned in this market with the official launch of Cinionic as of 1st of October 2018. I'm also pleased by the progress we're making on the LCD-based videowall 'Barco UniSee' and the good uptake of projects in our surgical healthcare segment," said Jan De Witte, CEO of Barco.

"In the third quarter we reversed the trend of the first half and produced sales growth for the group, driven by solid gains for both the Enterprise and the Healthcare division. As a result we are on track to bring the year sales to the level of last year. Furthermore we also continue to improve our EBITDA and EBITDA margin by executing our 'focus to perform' program and identifying further businessand cost efficiencies," concluded Mr. De Witte.

P 1 / 4

Order Intake & Order Book

Order Intake

(in millions of euro)	3Q18		3Q17		Change vs 3Q17
Order Intake	243.3			259.0	-6.1%
(in millions of euro)	YTD18		YTD17		Change vs YTD17
Order intake	783.0		820.9		-4.6%
Order Book
(in millions of euro)	30 Sep 2018	30 Jun 2018		31 Mar 2018	31 Dec 2017	30 Sep 2017
Order book	319.5	324.4		303.4	285.9	322.0
Sales
Sales
(in millions of euro)	3Q18			3Q17	Change vs 3Q17
Sales	248.7			242.5	+2.6%
Sales per division
(in millions of euro)	3Q18			3Q17	Change vs 3Q17
Entertainment	108.5			112.3	-3.3%
Enterprise	79.9			74.2	+7.7%
Healthcare	60.3			56.0	+7.7%
Group	248.7			242.5	+2.6%
Sales per division year-to-date
(in millions of euro)	YTD18		YTD17		Change vs YTD17
Entertainment	337.5			359.7	-6.2%
Enterprise	229.2			225.0	+1.9%
Healthcare	180.1		175.9		+2.4%
Group	746.8			760.5		-1.8%

P 2 / 4

PRESS RELEASE – REGULATED INFORMATION – INSIDE INFORMATION

Additional information

Financial Calendar

• 2H18 and FY18 results Thursday 7 February 2019

The information given in this press release has not been reviewed by the statutory auditor.

Disclaimer:

This press release may contain forward-looking statements. Such statements reflect the current views of management regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Barco is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release in light of new information, future events or otherwise. Barco disclaims any liability for statements made or published by third parties and does not undertake any obligation to correct inaccurate data, information, conclusions or opinions published by third parties in relation to this or any other press release issued by Barco.

About Barco

Barco designs technology to enable bright outcomes around the world. Seeing beyond the image, we develop visualization and collaboration solutions to help you work together, share insights, and wow audiences. Our focus is on three core markets: Enterprise (from meeting and control rooms to corporate spaces), Healthcare (from the radiology department to the operating room), and Entertainment (from movie theaters to live events and attractions). In 2017, we realized sales of 1.085 billion euro. We have a team of 3,600 employees, located in 90 countries, whose passion for technology is captured in 400 granted patents.

For more information, visit us on www.barco.com, follow us on Twitter (@Barco), LinkedIn (Barco), YouTube (BarcoTV), or like us on Facebook (Barco).

© Copyright 2018 by Barco

For more information, please contact:

Carl Vanden Bussche, VP Investor Relations +32 56 26 23 22 or carl.vandenbussche@barco.com

APPENDIX

Pro forma comparison

As announced in the 1H18 results, Barco completed the transaction on the sale of 9% shares in the BarcoCFG joint venture and reduced its stake to a 49% position. As a result, as of July 2018 the BarcoCFG joint venture orders and sales are no longer consolidated in Barco's group and Entertainment results.

To facilitate comparable trend analysis of Barco's topline results, the chart shown below presents pro forma entertainment and group orders and sales for the 2 last quarters of 2017 and 2 first quarters of 2018 as if the 2H18 structure had been in place.

Reported and pro forma orders and sales following the deconsolidation for 2H17:

(in millions of euro)	Reported 3Q17	Pro forma 3Q17	Reported 4Q17	Pro forma 4Q17	Reported 2H17	Pro forma 2H17	Reported FY17	Pro forma FY17
Group Orders	263.7	259.0	279.7	239.7	543.3	498.7	1,105.2	1,060.6
Entertainment Sales	136.5	112.3	149.4	122.8	285.9	235.1	533.3	482.5
Group Sales	266.7	242.5	300.0	273.4	566.7	515.9	1,084.7	1,033.9

In order to support comparable projections for 2019 versus 2018, we present also the pro forma orders and sales following the deconsolidation for 1H181 :

(in millions of euro)	Reported 1Q18	Pro forma 1Q18	Reported 2Q18	Pro forma 2Q18	Reported 1H18	Pro forma 1H18
Group Orders	276.0	244.4	263.6	252.0	539.7	496.4
Entertainment Sales	110.3	89.0	118.6	100.4	228.9	189.4
Group Sales	245.2	223.9	252.9	234.7	498.1	458.6

P 4 / 4

¹ To allow comparable data analysis 2018 versus 2017 and with the deconsolidation active as of mid-year; the current year-to-date numbers used reported orders and sales for 1H18. For 2019, comparable data analysis will call for pro forma 1H18 orders and sales.