25 July 2007, page 1Company confidential

Results 2Q07Results 2Q07

Martin De Prycker, CEO

25 July 2007

25 July 2007, page 2Company confidential

Operational results 2Q07: reported *Operational results 2Q07: reported *

in € million 2Q 2006 2Q 2007** Growth 2Q07/2Q06

Orders 192.0 199.1 3.7%

Sales 186.0 208.2 12.0%

EBIT 16.1 17.8 10.6%

EBIT % 8.7% 8.6%

Book-to-bill 1.03 0.96

* Including BarcoVision and Manufacturing Services ** Not including the parts of Manufacturing Services, divested in 2006

25 July 2007, page 3Company confidential

Operational results 2Q07: continuing operations *Operational results 2Q07: continuing operations *

in € million 2Q 2006 2Q 2007 Growth2Q07/2Q06

Orders 170.6 183.0 7.3%

Sales 166.3 192.3 ** 15.6%

EBIT 13.0 15.7 21.1%

EBIT % 7.8% 8.2%

Book-to-bill 1.03 0.95

* Excluding BarcoVision and Manufacturing Services ** 19% at comparable €/$ rate

25 July 2007, page 4Company confidential

Operational results 1H07: continuing operations *Operational results 1H07: continuing operations *

in € million 1H 2006 1H 2007 Growth 1H07/1H06

Orders 350.5 404.4 15.4%

Sales 322.2 348.7 8.2%

EBIT 21.0 22.2 5.8%

EBIT % 6.5% 6.4%

Book-to-bill 1.09 1.16

* Excluding BarcoVision and Manufacturing Services

25 July 2007, page 5Company confidential

Results per quarter: continuing operationsResults per quarter: continuing operations

0

50

100

150

200

250

1Q05

2Q05

3Q05

4Q05

1Q06

2Q06

3Q06

4Q06

1Q07

2Q07

OrdersSalesEBI T

in € million

25 July 2007, page 6Company confidential

Overall comments on continuing operations for 2Q07 Overall comments on continuing operations for 2Q07

Strong order growth of more than 7%, thanks to– High order intake in Media & Entertainment and Security & Monitoring

Large sales growth of 19% vs 2Q06 on comparable basis (including currency evolution)

– Growth in Media & Entertainment, Medical Imaging and Other Markets– Decline in Security & Monitoring

Book-to-bill good at 0.95

EBIT at € 15.7 million, 21.1% better than 2Q06, thanks to increased gross profit, despite $ decline

25 July 2007, page 7Company confidential

Evolution of results per divisionEvolution of results per division(on continuing operations)(on continuing operations)

in € million 2Q06 2Q07 Sales growth 2Q07/ 2Q06

Sales % EBIT Sales % EBIT

Media & Entertainment 56.1 2.9 81.3 10.7 44.9%

Security & Monitoring 52.9 6.1 50.4 0.1 (4.7%)

Medical Imaging 30.5 16.7 32.7 13.4 7.2%

Other Markets 33.5 8.9 35.4 7.3 5.7%

Eliminations -6.7 -7.6

Total 166.3 7.8 192.3 8.2 15.6% *

* 19% at comparable €/$ rate

25 July 2007, page 8Company confidential

Media & Entertainment Division Media & Entertainment Division (1)(1)

-100

102030405060708090

100

1Q05

2Q05

3Q05

4Q05

1Q06

2Q06

3Q06

4Q06

1Q07

2Q07

OrdersSalesEBI T

in € million

25 July 2007, page 9Company confidential

Media & Entertainment Division Media & Entertainment Division (2)(2)

Orders / Sales– Book-to-bill ratio lower at 0.81, with 10% order growth and

45% sales growth 2Q07 vs 2Q06– Events had double digit order and sales growth, thanks to

successful new and existing products– Media had flat orders growth and strong increasing sales with

positive EBIT– DC lower orders, but indications remain positive for market

growth in 2H07 and 2008

Margins– Gross profit increased 34.9% vs the year before– Profit margin at 10.7% vs 2.9% in 2Q06, thanks to strong

sales increase

25 July 2007, page 10Company confidential

Security & Monitoring DivisionSecurity & Monitoring Division (1)(1)

-10

0

10

20

30

40

50

60

70

80

1Q05

2Q05

3Q05

4Q05

1Q06

2Q06

3Q06

4Q06

1Q07

2Q07

OrdersSalesEBI T

in € million

25 July 2007, page 11Company confidential

Security & Monitoring Division Security & Monitoring Division (2)(2)

Orders / Sales– Book-to-bill high at 1.23– Double digit growth in orders, mainly in the defense and

control room markets– Sales in defense showing first growth, although still

moderate, whereas in control rooms a few big projects shifted to 2H07, resulting in a decline in sales

Margins– Gross profit decreased 9.6% vs 2Q06, due to lower sales

volume and negatively influenced by $ erosion– Profit margin at 0.1% vs 6.1% in 2Q06, due to lower gross

profit

25 July 2007, page 12Company confidential

Medical Imaging Division Medical Imaging Division (1)(1)

0

5

10

15

20

25

30

35

40

45

1Q05

2Q05

3Q05

4Q05

1Q06

2Q06

3Q06

4Q06

1Q07

2Q07

OrdersSalesEBI T

in € million

25 July 2007, page 13Company confidential

Medical Imaging Division Medical Imaging Division (2)(2)

Orders / Sales– Book-to-bill ratio at 0.89– Weaker orders and sales in PACS vs 2Q06, particularly due

to lower US sales– Modality orders flat, but sales higher

Margins– Gross profit increased 13.4% – Good profit margin at 13.4%, lower than 16.7% in 2Q06, as

investments in new product development and sales have increased

25 July 2007, page 14Company confidential

Other MarketsOther Markets (1)(1)

-5

0

5

10

15

20

25

30

35

40

45

1Q05

2Q05

3Q05

4Q05

1Q06

2Q06

3Q06

4Q06

1Q07

2Q07

OrdersSalesEBI T

in € million

25 July 2007, page 15Company confidential

Other Markets Other Markets (2)(2)

Orders / Sales– Higher orders and sales in simulation market and

lower orders and sales in presentation market– Higher orders and lower sales in Avionics than 2Q06

Margins– Gross profit margin remained stable– EBIT margin at 7.3% vs 8.9% in 2Q06, thanks to a

strong improvement in Presentation & Simulation, not compensating the decline of Avionics (caused by large investments in new product development)

25 July 2007, page 16Company confidential

Status of discontinued operationsStatus of discontinued operations

The divestiture of BarcoVision was signed with Itema, expected closing end 2007.Sales price of € 72 million; full details on effect on profitability will be provided at closing, but expected net gain between € 43 and 45 million

Discussions with potential partner for the mechanical part of Manufacturing Services continue, to be concluded in 2H07

25 July 2007, page 17Company confidential

2Q07

32,9%

47,2%

19,9%

Geographical breakdown of salesGeographical breakdown of sales (on continuing operations) (on continuing operations)

14,2%

51,2%

34,6%

2Q06

EMEAAMERICAS

APAC

25 July 2007, page 18Company confidential

Key figures Income Statement: continuing operationsKey figures Income Statement: continuing operations

in € million 2Q06 % 2Q07 %

SalesCost of goods sold

166.3-96.7

100.0-58.1

192.3-117.3

100.0-61.0

Gross ProfitResearch & DevelopmentSales & MarketingGeneral & AdministrationOther operating result

69.6-15.6-28.5-11.5

-1.0

41.9-9.4

-17.1-6.9-0.6

74.9-16.5-29.3-12.6

-0.8

39.0-8.6

-15.3-6.5-0.4

EBITGoodwill impairment

13.0-1.6

7.8-0.9

15.70.0

8.20.0

Operating Result 11.4 6.8 15.7 8.2

Non-operating result -0.2 -0.1 -0.2 -0.1

Income Taxes -2.5 -1.5 -2.9 -1.5

Net Income 11.3 6.8 14.3 7.4

Current Cash Flow 22.1 13.3 25.7 13.4

EBITDA 24.8 14.9 28.8 15.0

Current Earnings per Share (in €) 0.85 1.05

Net Earnings per Share (in €) 0.93 1.19

25 July 2007, page 19Company confidential

Key figures Balance SheetKey figures Balance Sheet

in € million 30/06/06 31/12/06 30/06/07*

Accounts Receivable 175.2 218.6 194.2

Inventory 167.0 146.7 173.4

Trade Payables 76.7 69.4 84.9

Cash 83.4 81.4 89.1

Financial Debt 81.3 93.8 113.1

* Excluding discontinued operations

25 July 2007, page 20Company confidential

Expectations 2007Expectations 2007

High orders in 1H07 increase confidence in reaching sales growth targets for 2007 between 6% and 9%, supported by new products being introduced in 2007

Profit increase for 2007 confirmed vs 2006 Divestitures status

– Mechanical part of Manufacturing Services targeted for 2H07– Vision signed, closing expected end 2007

The proceeds from the sale of BarcoVision– Potential acquisitions will be assessed– Alternative solutions to create shareholder value will be

evaluated and communicated before end 2007