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Thursday, 16 November 2017

EVS Broadcast Equipment reports third quarter 2017 results

EVS Broadcast Equipment    

Published: 06:30 CET 16-11-2017 /GlobeNewswire /Source: EVS Broadcast Equipment / : EVS /ISIN: BE0003820371

EVS Broadcast Equipment reports third quarter 2017 results

Publication on November 16, 2017, before market opening

Regulated information - Press release quarterly results

EVS Broadcast Equipment S.A.: Euronext Brussels (EVS.BR), Bloomberg (EVS BB), Reuters (EVSB.BR)

 

  • 3Q17 highlights
    • Revenue of EUR 26.3 million, -10.7% compared to 3Q16 (excl. event rentals and at constant currency)
    • Opex decrease by 4.0% compared to a high 3Q16 that included one-time elements
    • EBIT margin of 21.2%
    • Net profit of EUR 3.8 million, EPS of EUR 0.28

 

  • 9M17 highlights
    • Revenue of EUR 79.0 million, -15.7% compared to 9M16 (excl. event rentals and at constant currency)
    • Operating expenses under control (+0.5% compared with 9M16)
    • EBIT margin of 23.3%
    • Net profit of EUR 12.9 million, EPS of EUR 0.95
       
  • Gross interim dividend of EUR 0.50 per share
     
  • Outlook
    • Order book of EUR 25.2 million on October 31, 2017 (to be invoiced in 2017)
      • +55.6% compared to 2016, -19.7% compared to 2015 (last uneven year);
    • Additional order book of EUR 25.0 million for 2018 and beyond, including EUR 10.5 million of big event rentals
    • Revenue in 2017 is expected to be between EUR 115 million and EUR 125 million
    • Opex are expected to grow moderately in 2017

 

 

KEY FIGURES

 

Unaudited

EUR millions, except earnings per share expressed in EUR

Unaudited

3Q17

3Q16

3Q17/3Q16

9M17

9M16

9M17/9M16

26.3

37.1

-29.3%

Revenue

79.0

103.8

-23.8%

18.5

28.3

-34.6%

Gross margin

56.8

78.0

-27.2%

70.5%

76.3%

-

Gross margin %

71.9%

75.2%

-

5.6

14.8

-62.2%

Operating profit - EBIT

18.4

39.7

-53.6%

21.2%

39.7%

-

Operating margin - EBIT %

23.3%

38.3%

-

3.8

10.5

-64.2%

Net profit (Group share)

12.9

28.0

-54.0%

0.28

0.78

-64.2%

Basic earnings per share (Group share)

0.95

2.07

-54.1%

 

 

COMMENTS

"While we expected higher revenue in 3Q17, we confirm our 2017 revenue guidance taking into account the existing pipeline. On the medium term, we are very pleased to see that our investments in innovation and to increase the agility of the organization are starting to bear fruits. Indeed, our new product ranges presented at the IBC tradeshow have generated strong interest from existing and new customers, and our developments around artificial intelligence are considered as pioneering by the industry", said Muriel De Lathouwer, Managing Director and CEO of EVS.

 

Commenting on the results and prospects, Yvan Absil, CFO, said: "Our third quarter revenue of EUR 26.3 million reflects different dynamics in our activities, such as a continued soft environment in the US. Our third quarter has also been impacted by some contracts deliveries moving to the last quarter of the year, without changing the global dynamic. With a lower level of sales, but with operating expenses that remain under control, we posted a EBIT margin of 21.2%, and EPS amounted to EUR 0.28. The order book remains solid. For 2017, we expect revenue to be between EUR 115 million and EUR 125 million, and opex to grow moderately compared to 2016."

 

 

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)20 7162 9960 (United Kingdom), +32 (0)2 290 17 04 (Belgium), +1 646 851 2094 (United States)

Conference call ID: 963130

 

Corporate Calendar:

Tuesday November 28, 2017: interim dividend: ex-date

Wednesday November 29, 2017: interim dividend: record date

Thursday November 30, 2017: interim dividend: payment date

Thursday February 22, 2018: FY17 results

Wednesday May 9, 2018: 1Q18 results

Tuesday May 15, 2018: Ordinary General Meeting

Thursday August 30, 2018: 2Q18 results

Thursday 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 14.  E-mail:corpcom@evs.com; www.evs.comwww.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 provides its customers with reliable and innovative technology to enable the production of live, enriched video programming, allowing them to work more efficiently and boost their revenue streams. Its industry-leading broadcast and media production systems are used by broadcasters, production companies, post-production facilities, film studios, content owners and archive libraries around the globe. It spans four key markets - Sports, Entertainment, News and Media.

Founded in 1994, its innovative Live Slow Motion system revolutionized live broadcasting. Its reliable and integrated tapeless solutions, based around its market-leading XT server range, are now widely used to deliver live productions worldwide. Today, it continues to develop practical innovations, such as its C-Cast second-screen delivery platform, to help customers maximize the value of their media content.

The company is headquartered in Belgium and has 20 offices in Europe, the Middle East, Asia and North America. Around 500 EVS professionals sell its branded products in over 100 countries, and provide customer support globally. EVS is a public company traded on Euronext Brussels: EVS, ISIN: BE0003820371. For more information, please visit www.evs.com.

 

 



Press release in pdf format



This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of Nasdaq Corporate Solutions clients. Source: EVS Broadcast Equipment, Rue Bois St-Jean, 16, Seraing 4102, Belgique
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