EVS Broadcast Equipment reports third quarter 2017
Post# of 301275
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
- Order book of EUR 25.2 million on October 31, 2017 (to be invoiced 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 . |
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