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EVS Broadcast Equipment reports second quarter 2017 results

(August 31, 2017)

Publication on August 31, 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)

  • 2Q17 highlights
    • Revenue of EUR 28.3 million, -24.6% compared to 2Q16 (excl. event rentals and at constant currency), and +26.3% compared to a weak 2Q15 (last uneven year)
    • Opex increase by 5.5% compared to a low base in 2Q16 that included one-time elements
    • EBIT margin of 28.0% (or 23.8% excluding other income)
    • Net profit of EUR 5.5 million, EPS of EUR 0.41
  • 1H17 highlights
    • Revenue of EUR 52.8 million, -18.1% compared to 1H16 (excl. event rentals and at constant currency)
    • Operating expenses under control (+2.9% compared with 1H16)
    • EBIT margin of 24.3% (or 22.0% EBIT excluding other income)
    • Net profit of EUR 9.1 million, EPS of EUR 0.67
  • 2017 outlook
    • Order book of EUR 37.4 million on August 25, 2017 (to be invoiced in 2017)
      • -9.6% compared to 2016 (which included EUR 8.3 million big event rentals);
      • +10.9% compared to 2016 excluding big event rentals
    • Additional order book of EUR 22.4 million for 2018 and beyond, including EUR 9.0 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 Reviewed
2Q17 2Q16 2Q17/2Q16 1H17 1H16 1H17/1H16
28.3 39.8 -28.9% Revenue 52.8 66.6 -20.8%
21.1 30.7 -31.5% Gross margin 38.3 49.7 -22.9%
74.5% 77.3% - Gross margin % 72.5% 74.6% -
7.9 17.4 -54.4% Operating profit - EBIT 12.8 24.9 -48.5%
28.0% 43.7% - Operating margin - EBIT % 24.3% 37.4% -
5.5 12.6 -56.1% Net profit (Group share) 9.1 17.5 -47.9%
0.41 0.93 -55.9% Basic earnings per share (Group share) 0.67 1.29 -48.0

COMMENTS

"As part of our strategy to extend our product portfolio around live production solutions, as illustrated by the recent launches of Dyvi or Xeebra, we will introduce new products at the IBC tradeshow in Amsterdam in a few weeks, which will demonstrate our innovation power in a changing industry", said Muriel De Lathouwer, Managing Director and CEO of EVS.

Commenting on the results and prospects, Yvan Absil, CFO, said: "Our revenue of EUR 28.3 million represents a sequential improvement compared to the first quarter, and we expect this evolution to continue in the second half of the year. Thanks to a good product mix, our gross margin was again strong during this quarter. With operating expenses that remain under control, we posted a EBIT margin of 28.0%, and EPS amounted to EUR 0.41. The order book remains solid. For 2017, we now expect revenue to be between EUR 115 million and EUR 125 million, and opex to grow moderately compared to 2016."

Conference callEVS will hold a conference call in English today at 2:30 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 0077 (United Kingdom), +32 (0)2 290 14 07 (Belgium), +1 646 851 2407 (United States)

Conference call ID: 962707

Corporate Calendar:
September 15-19: IBC tradeshow (Amsterdam, NL)
Thursday November 16, 2017: 3Q17 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:[email protected]; 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 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.

 
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http://www.globenewswire.com/NewsRoom/AttachmentNg/ebaedcd4-b8a4-4eb2-a032-b18831552ae4


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