Market Watch

Barco Extends Vendor Financing Scheme

May 11, 2011

David Hancock David Hancock Director – Research and Analysis, Cinema & Home Entertainment, IHS Markit
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Belgian projector group Barco has extended its vendor-backed digital cinema financing scheme, specifically for use with Cinedigm's Phase 2 rollout. Barco has an extra $15.6m in finance available which equates to 249 complete systems at $62,500 each, according to Barco. This is the latest in a series of off-balance sheet financing that Barco has made available to exhibitors, now totaling $65m for around 1,100 systems within Cinedigm's US rollout programme. The scheme was launched in late 2009, named Deliver Digital, and enabled smaller exhibitors to apply for funding, with the back-up of Cinedigm's VPF scheme to underpin the application. US third-party integrator Cinedigm's second Phase of digital cinema rollout, on top of the 4,000 units installed as part of Phase 1 is picking up speed and at last count included over 3,300 units installed out of a target of 10,000. Barco has recently unveiled positive financial results for the first quarter 2011. The digital cinema element of the Belgian company, housed within the entertainment divisions, posted revenues of around EUR82m out of doubled sales revenue of EUR102.7m for the division. The whole company posted revenues of EUR239.2m, at the top range of analyst expectations for the quarter.

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