EVS BROADC.EQUIPM. (EBR:EVS) EVS Broadcast Equipment reports first quarter 2018 results

Transparency directive : regulatory news

17/05/2018 06:30

















Publication on May 17, 2018, before market opening
Regulated information - Press release quarterly results
EVS Broadcast Equipment S.A.: Euronext Brussels (EVS.BR), Bloomberg (EVS BB), Reuters (EVSB.BR) 

 

  • 1Q18 highlights
    • Revenue of EUR 22.8 million, -6.9% compared to 1Q17 (-20.0% excl. event rentals and at constant currency)
    • Strong opex increase compared to 1Q17, given the announced recruitments in 4Q17 and 1Q18 in R&D to reflect the larger product portfolio
    • EBIT margin of 8.1%
    • Net profit of EUR 2.1 million, EPS of EUR 0.16
       
  • Gross total dividend of EUR 1.00 (final gross dividend of EUR 0.50) approved by the Ordinary General Meeting
     
  • Outlook
    • Order book of EUR 32.3 million on May 10, 2018 (to be invoiced in 2018)
      • -9.0% vs last year (-27.8%, excl. big event rentals)
    • Additional EUR 6.6 million orders to be invoiced in 2019 and beyond
    • Revenue are expected to be in the EUR 115 million to EUR 130 million range in 2018
    • Opex are expected to grow in a moderated way due to investments in R&D for new product development, in addition to the structural salary increases in Belgium of ±2%

KEY FIGURES

EUR millions, except earnings per share (EUR) Unaudited
1Q18 1Q17 1Q18/1Q17
Revenue 22.8 24.5 -6.9%
Gross margin 15.7 17.2 -8.8%
Gross margin % 68.8% 70.3% -
Operating profit - EBIT 1.9 4.9 -62.4%
Operating margin - EBIT % 8.1% 20.1% -
Net profit (Group share) 2.1 3.6 -39.8%
Basic earnings per share (Group share) 0.16 0.26 -39.8%

COMMENTS

"While we were disappointed by the market evolution in the first quarter of the year, we continue to see increasing momentum around our new product launches and developments and we don`t lose any market share. More specifically, at the recent NAB tradeshow in Las Vegas, EVS presented the new XT-VIA platform, which will become available during the summer. Combining more possibilities (6 channels in 4K and all the most recent technology advances) with the highest level of reliability and service, the XT-VIA should support some investment in 2H18 by customers who need 4K capabilities" said Muriel De Lathouwer, CEO of EVS.

Commenting on the results and prospects, Yvan Absil, CFO, said: "Our first quarter revenue of EUR 22.8 million is the combination of the very strong 4th quarter in 2017, and the soft order book as announced on the 15th of February. Our operating expenses increased compared to 1Q17 following the planned increase in the number of employees in 4Q17 and 1Q18 to reflect the larger product range. For 2018, we expect some acceleration of the activity after a soft start of the year. As a result, we expect revenue to be in the EUR 115 million to EUR 130 million range, and we continue to forecast moderate opex growth, on top of the structural salary increases in Belgium."

Conference call
EVS will hold a conference call in English today at 3.00 pm CET for financial analysts and institutional investors. Other interested parties may join the call in a listen-only mode. The presentation used during the conference call will be available shortly before the call on the EVS website.

Dial-in numbers: +44 (0)1452 555 566 (United Kingdom), +32 (0)81 70 00 61 (Belgium), +1 631 510 7498 (United States)
Conference call ID: 6279538

Corporate Calendar:
May 22, 2018: final dividend - ex-date
May 23, 2018: final dividend - record-date
May 24, 2018: final dividend - pay-date
August 30, 2018: 2Q18 results
November 15, 2018: 3Q18 results

For more information, please contact:

 

Yvan ABSIL, CFO
Geoffroy d`OULTREMONT, Vice President  Investor Relations & Corporate Communication
EVS Broadcast Equipment S.A., Liege Science Park, 13 rue du Bois Saint-Jean, B-4102 Seraing, Belgium
Tel: +32 4 361 70 13.  E-mail:corpcom@evs.com; www.evs.com
 

Forward Looking Statements
This press release contains forward-looking statements with respect to the business, financial condition, and results of operations of EVS and its affiliates. These statements are based on the current expectations or beliefs of EVS`s management and are subject to a number of risks and uncertainties that could cause actual results or performance of the Company to differ materially from those contemplated in such forward-looking statements. These risks and uncertainties relate to changes in technology and market requirements, the company`s concentration on one industry, decline in demand for the company`s products and those of its affiliates, inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on pricing resulting from competition which could cause the actual results or performance of the company to differ materially from those contemplated in such forward-looking statements. EVS undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

 
About EVS
EVS is globally recognized as the technology leader for live video production. The company introduced Live Slow Motion replay in 1994, and has continued to build on its reputation for quality and reliability with solutions that enhance live sports, entertainment and news content. Innovations - such as the C-Cast multimedia platform and DYVI IT-based switcher - are raising the bar for live production enrichment, management and distribution. Broadcasters, rights owners, producers and venues alike use EVS to maximize the value of their productions and increase revenue streams. The company is headquartered in Belgium with around 500 employees in offices in Europe, the Middle East, Asia and North America, and provides sales and technical support to more than 100 countries. EVS is a public company traded on Euronext Brussels: EVS, ISIN: BE0003820371. For more information, please visit www.evs.com