EVS Broadcast Equipment reports second quarter ...

Publication on August 25, 2016, before market opening
Regulated information - Press release quarterly results
EVS Broadcast Equipment S.A.: Euronext Brussels (EVS.BR), Bloomberg (EVS BB), Reuters (EVSB.BR)

• 2Q16 highlights
  • Revenue of EUR 39.8 million, +67.6% compared to low 2Q15 (excl. event rentals and at constant currency)
  • Stable recurring Opex (reported opex down by 3.0% compared to 2Q15, which included some one-time extra cost)
  • EBIT margin of 43.7%, net profit of EUR 12.6 million, EPS of EUR 0.93
     
• 1H16 highlights
  • Revenue of EUR 66.6 million, +37.2% compared to 1H15 (excl. event rentals and at constant currency) thanks to a strong 2Q16.
  • Operating expenses under control (+0.5% compared with 1H15)
  • EBIT margin of 37.4% due to high sales (or 35.8% EBIT margin excluding other revenues)
  • Net profit of EUR 17.5 million, EPS of EUR 1.29
     
• 2016 outlook
  • Order book of EUR 41.4 million on August 24, 2016 (to be invoiced in 2016), which includes EUR 8.3 million for big event rentals
    • +12.5% compared to 2015; +1.2% vs last big events year (2014)
  • Revenue in 2016 is expected to be between EUR 128 million and EUR 138 million (incl. around EUR 12 million of big event rentals)
  • Stable to slight opex growth in 2016

KEY FIGURES

Unaudited			EUR millions, except earnings per share expressed in EUR	Reviewed
2Q16	2Q15	2Q16/2Q15		1H16	1H15	1H16/1H15
39.8	23.3	+70.7%	Revenue	66.6	47.4	+40.5%
30.7	15.5	+97.8%	Gross margin	49.7	32.8	+51.6%
77.3%	66.7%	-	Gross margin %	74.6%	69.1%	-
17.4	1.9	N/A	Operating profit - EBIT	24.9	7.4	N/A
43.7%	8.2%	-	Operating margin - EBIT %	37.4%	15.6%	-
12.6	0.7	N/A	Net profit (Group share)	17.5	5.5	N/A
0.93	0.05	N/A	Basic earnings per share (Group share)	1.29	0.41	N/A

COMMENTS

"The big sporting events of this summer in France and Brazil pushed the boundaries in terms of viewer experience and excitement, scale and increased production flexibility. EVS has once more demonstrated its leading capabilities in terms of remote production, 4K, IP and multiplatform delivery", said Muriel De Lathouwer, Managing Director and CEO of EVS.

Commenting on the results and prospects, Yvan Absil, CFO, said: "Our second quarter sales were strong in all regions, in the context of this big event year. Thanks to the high sales and the costs that remain under control, the EBIT margin for the quarter was 43.7%, and the EPS EUR 0.93. The order book remains at a good level. For 2016, we now expect revenue to be between EUR 128 million and EUR 138 million, including around EUR 12 million of rentals from big events (the remaining EUR 8 million will be booked in 3Q16), and stable or slightly higher opex compared to 2015."

Conference call
EVS will hold a conference call in English today at 3:30 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: [phone] (United Kingdom), [phone] (Belgium), [phone] (United States)
Conference call ID: 959744

Corporate Calendar:
Thursday August 25, 2016: 2Q16 results
September 9-13: IBC tradeshow (Amsterdam, NL)
Thursday November 10, 2016: 3Q16 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: [phone].  E-mail:[e-mail]; 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.

Press release in pdf format

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Source: EVS Broadcast Equipment via Globenewswire