EVS reports record second quarter and summer or...
* Record 2Q08 revenue of EUR 34.4 million, +47.7% vs. 2Q07 (+52.2%
at constant exchange rate), thanks to strong traction from big
sporting events, and a major contract signed with Presteigne
Charter for EUR 5 million
* Europe up 127.9%, Asia & Pacific up 56.3%, America down 27.1%
(16.1% at constant exchange rate) compared to 2Q07
* Stable EBIT margin of 64.0%
* Summer order book of EUR 38.5 million, +32.9%
* Studio represents 47.1% of that order book
* Acquisition of Dwesab BVBA, small Belgian company specialized in
service and software R&D for operating workflows and management
of TV stations
* 2008 guidance: good double-digit growth, driven by big sport
events and studio acceleration
Liège (Belgium), September 4, 2008, EVS Broadcast Equipment S.A.
(Euronext Brussels: EVS.BR, Bloomberg: EVS BB, Reuters: EVSB.BR)
(Pinksheets: EVBEF), the leader in Professional Digital Video
applications for Live, Near-Live and Studio TV Production, today
reported its results for the second quarter ("2Q08") and the first
half ("1H08") of 2008.
Key highlights
Pierre L'Hoest, CEO of EVS said: "We are proud about our teams. What
they have achieved this summer for the UEFA EURO2008TM and for the
Olympics in Beijing is fantastic. In Beijing, our industry had never
seen such a deployment of technologies and workflows for one single
event. Our teams, in close cooperation with our clients have
successfully taken up this challenge. Everything went well and we
have received great feedback from the broadcasters at both events. We
are now ready to capitalize on the momentum and we will make sure
that our successes in Beijing are only the beginning of a new era for
EVS, with further penetration in the studio market."
Commenting on the results and perspectives, Jacques Galloy, CFO
added: "In this second quarter, despite the US dollar weakness, both
sales and profit were again at a record level. Note that the EUR 6.9
million rental agreements for the Olympics are being booked on 3Q08.
We are continuing to reinforce the EVS team in a way to expand our
business in our new niches and increase our overall service skills.
The summer order intake has been good and the feed-back from our
operations in Beijing leads us to confirm our revised guidance of
Mid-July: a good double digit growth year. This summer's big sporting
events have catalyzed our business over the last 12 months but we
feel that this good business trend should continue. For instance,
diversified studio segment sales are expected to exceed 40% growth
this year."
(unaudited) IFRS - EUR millions, (reviewed)
except earnings per share
2Q08 2Q07 2Q08/2Q07 expressed in EUR 1H08 1H07 1H08/1H07
34.4 23.3 +47.7% Revenue 59.8 43.2 +38.6%
22.0 14.8 +49.0% Operating profit - EBIT 39.1 27.7 +41.0%
64.0% 63.5% +0.5pp Operating margin - EBIT 65.4% 64.2% +1.2pp
%
-0.6 -0.6 +2.6% Contribution from 47% -1.4 -1.0 -43.9%
XDC affiliate
15.2 9.6 +59.4% Net profit - Group share 26.9 18.1 +48.6%
Net profit from
16.4 10.6 +55.0% operations, excl. XDC - 29.0 19.9 +45.7%
Group share (1)
1.12 0.70 +59.5% Basic earnings per share 1.98 1.33 +48.3%
Basic earnings per share
1.21 0.78 +55.1% from operations, excl. 2.13 1.46 +45.4%
XDC (1)
(1) The net profit from operations, excl. XDC, is the net profit
(share of the group) excluding non operating items (net of tax) and
the XDC contribution. Refer to Annex 6.3: use of non-gaap financial
measures.
Corporate Calendar:
12-16 September 2008: IBC TradeFair in Amsterdam (NL)
Thursday 13 November 2008: 3Q08 revenue & earnings
Thursday 19 February 2009: FY2008 revenue & earnings
Thursday 14 May 2009: 1Q09 revenue & earnings
Tuesday 19 May 2009: Ordinary Shareholders Meeting
For more information, please contact:
Jacques GALLOY, Director & CFO
Geoffroy d'OULTREMONT, Investor Relations & Corporate Communications
Manager
EVS Broadcast Equipment S.A., Liege Science Park, 16 rue du Bois
Saint-Jean, B-4102 Ougrée (Liège), Belgium
Tel: +32 4 361 70 14. E-mail: corpcom@evs.tv; www.evs-global.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 Group
EVS Group designs, develops and markets professional digital
equipment for Television (EVS Broadcast) and Cinema (XDC). The Group
employs over 220 persons for broadcast equipment in 12 countries and
sells its products to professionals of the video and audio sectors in
more than 90 countries. EVS is a public company traded on Euronext
Brussels: EVS, ISIN: BE0003820371. For more information, refer to
www.evs-global.com
EVS Broadcast is the world leader for Live TV Production Digital Disk
Recorders and Related Software Applications, especially in the field
of sports. The company's dedicated hardware and software suite offer
a complete production platform: live slow motion (LSM), high speed
slow motion, replay only, clips generation, quick clips editing,
real-time SD/HD video files transfer, time delay, multi-camera
recording, metadata association, graphics storage and play-out,
digital transmission, multi-format ingest and play-back, audio record
& edit, webcasting, mobile phone clipping. Main software applications
like the "IP Director®" are running on the dedicated robust and
flexible hardware the "XT[2]® Platform". The world's leading
broadcasters, such as NBC, BSkyB, FOX, RTL, NHK, CANAL+, ABC, ESPN,
TF1, CCTV, PBS, CBS, BBC, ZDF, TVE and many others use EVS'
solutions.
EVS 47,20% affiliate XDC is pioneering Digital Cinema Logistics and
Play-out and operates between the movies distributors and exhibitors.
XDC has installed more than 280 digital screens throughout the world
in China, Germany, Sweden, Brazil, the United States, France,
Belgium, etc.