Statutory Auditor's Report
LIMITED REVIEW REPORT OF THE STATUTORY AUDITOR ON THE SEMI-ANNUAL CONSOLIDATED BALANCE SHEET OF BARCO NV AS OF JUNE 30, 2003 AND THE RELATED CONSOLIDATED INCOME STATEMENT FOR THE SIX-MONTH PERIOD THEN ENDED
As statutory auditor of Barco NV, we have performed a limited review on the semi-annual consolidated balance sheet as of June 30, 2003 and the related consolidated income statement for the six-month period then ended of Barco NV which show a balance sheet total of EUR 623.171 thousand and a consolidated profit of EUR 21.152 thousand for the six-month period ended June 30, 2003. The semi-annual consolidated balance sheet and related consolidated income statement have been prepared in accordance with International Financial Reporting Standards. Our review has been performed in accordance with the applicable guidelines issued by the Belgian Institute of Company Auditors. Considering their purpose, our review procedures were substantially less in scope than an audit conducted in accordance with generally accepted auditing standards in Belgium, the objective of which is the expression of an opinion on the annual accounts. We draw your attention to the semi-annual report of the Board of Directors in which it has been indicated that Barco Group has a total exposure of EUR 17 million in the graphics market. This market is still experiencing an unfavorable economic situation. The Board of Directors did not yet assess whether additional allowances are required in this respect.
Based on our review, except for the effects that the above mentioned exposure might have, we are not aware of any elements which would necessitate material adjustments to the semi-annual consolidated balance sheet as of June 30, 2003 and the consolidated income statement for the six-month period then ended, as taken up in the Barco NV's semi-annual report.
This limited review report does not relate to the prior year comparative figures nor to all quarterly figures which have been disclosed in the semi-annual report issued by the Board of Directors.
September 9, 2003
Ernst & Young Bedrijfsrevisoren BCV (B160)
Statutory auditor
Represented by
| Ludo Swolfs | Marc Van Hoecke |
| Partner | Partner |
For more information, please contact
Senior Advisor to the CEO
Phone
+32 56 26 23 22
jp.tanghe@barco.com
