EVS Broadcast Equipment reports 2016 results

Publication on February 16, 2017, before market opening
Regulated information - Press release annual results
EVS Broadcast Equipment S.A.: Euronext Brussels (EVS.BR), Bloomberg (EVS BB), Reuters (EVSB.BR)

• FY16 highlights
  • Revenue of EUR 130.8 million, +1.7% compared to FY15 (excl. event rentals and at constant currency)
  • Operating expenses under control (+0.3% compared to FY15)
  • EBIT margin of 35.3% (34.3% EBIT margin excluding the impact of other income)
  • Net profit of EUR 32.8 million, EPS of EUR 2.43
     
• 4Q16 highlights
  • Revenue of EUR 27.0 million -37.3% compared to a record 4Q15 (excl. event rentals and at constant currency)
  • EBIT margin of 24.0%
  • Net Profit of EUR 4.9 million, EPS of EUR 0.36
     
• Outlook
  • Order book of EUR 36.2 million on February 15, 2017 (to be invoiced in 2017)
    • -15.4% vs last year, excl. big event rentals
  • Additional EUR 17.6 million orders to be invoiced in 2018 and beyond, including EUR 8.2 million of big events rentals

KEY FIGURES

Unaudited			EUR millions, except earnings per share expressed in EUR	Audited
4Q16	4Q15	4Q16/4Q15		FY16	FY15	FY16/FY15
27.0	42.9	-36.9%	Revenue	130.8	118.5	+10.4%
19.1	31.7	-39.7%	Gross margin	97.2	84.2	+15.3%
70.8%	74.0%	-	Gross margin %	74.3%	71.1%	-
6.5	18.0	-64.1%	Operating profit - EBIT	46.2	32.6	+41.4%
24.0%	42.1%	-	Operating margin - EBIT %	35.3%	27.6%	-
4.9	13.4	-63.8%	Net profit (Group share)	32.8	23.7	+38.4%
0.36	1.00	-63.8%	Basic earnings per share (Group share)	2.43	1.76	+38.3%

COMMENTS
"2016 was a strong year for our company, both in terms of projects (including our key role during the big sporting events) and financial performance. We successfully launched the XT4K server and got some major references for our Dyvi live production switcher. The leadership of the company has been strengthened with new experienced senior executives and it provides a solid foundation to build our future. In 2017, we will continue working on new growth initiatives as well as on improvement measures to speed up our development processes", said Muriel De Lathouwer, CEO of EVS.

Commenting on the results and prospects, Yvan Absil, CFO, said: "Combining high revenue of EUR 130.8 million and stable operating expenses compared to last year led to a solid operating margin of 35.3% in 2016. Obviously, 2016 included EUR 12.1 million of big event rentals, which will not take place in 2017. With respect to 2017, at this stage, our visibility on the top-line is low."

Conference call
EVS will hold a conference call in English today at 2.00 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: [phone] (United Kingdom), [phone] (Belgium), [phone] (United States)
Conference call ID: 961335

Corporate Calendar:
Thursday May 11, 2017: 1Q17 results
Tuesday May 16, 2017: Ordinary General Meeting
Thursday August 31, 2017: 2Q17 results
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: [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 is globally recognized as the technology leader for live video production. The company introduced Live Slow Motion replay in 1994, and has continued to build on its reputation for quality and reliability with solutions that enhance live sports, entertainment and news content. Innovations - such as the C-Cast multimedia platform and DYVI IT-based switcher - are raising the bar for live production enrichment, management and distribution. Broadcasters, rights owners, producers and venues alike use EVS to maximize the value of their productions and increase revenue streams. The company is headquartered in Belgium with around 500 employees in offices in Europe, the Middle East, Asia and North America, and provides sales and technical support to more than 100 countries. EVS is a public company traded on Euronext Brussels: EVS, ISIN: BE0003820371. For more information, please visit www.evs.com

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Source: EVS Broadcast Equipment via Globenewswire