EVS Broadcast Equipment reports first quarter 2...

• 1Q15 highlights
  • Revenue of EUR 24.1 million, -18.7% excl. event rentals and at constant currency
  • Growth in Americas and APAC, weak performance in EMEA mainly due to customers delays in projects and macroeconomic environment
  • Stable operating expenses vs 1Q14
  • EBIT of EUR 5.5 million (22.7% EBIT margin), net profit of EUR 4.8 million, EPS of EUR 0.36
     
• Corporate highlights
  • New segment reporting
  • Ordinary General Meeting on May 19: proposal of a total gross dividend of EUR 2.00
     
• 2015 outlook
  • Order book of EUR 27.4 million on May 10, 2015
    • -31.6% vs. 2014 excl. big event rentals
    • In addition, EUR 4.2 million order book for 2016 and beyond
  • 2015 guidance:
    • 2015 revenue likely to be in the range of EUR 100-115 million
    • Opex is expected to grow at high single digit vs 2014

KEY FIGURES

EUR millions, except earnings per share (EUR)	Unaudited
	1Q15	4Q14	1Q14	1Q15/1Q14
Revenue	24.1	30.5	29.3	-17.8%
Gross margin	17.2	22.3	22.0	-21.6%
Gross margin %	71.4%	73.0%	74.9%	-
Operating profit - EBIT	5.5	8.9	10.0	-45.2%
Operating margin - EBIT %	22.7%	29.1%	34.1%	-
Net profit (Group share)	4.8	8.3	7.1	-32.5%
Basic earnings per share (Group share)	0.36	0.61	0.53	-32.4%

COMMENTS

"At the recent NAB tradeshow in Las Vegas, the feedback of our customers on the new products and solutions was very positive", said Muriel De Lathouwer, Managing Director & CEO of EVS. "More specifically, they appreciated our innovations and the pragmatic approach we have in the developments of our solutions, with clear answers to their needs, such as the Dyvi video mixer. Unfortunately, their enthusiasm, especially in Europe, still contrasts with the challenging macro-economic environment, leading to delays in investment projects. This being said, we will continue to invest in innovation to drive future top line growth."

Commenting on the results and prospects, Magdalena Baron, CFO, said: "1Q 2015 revenue is down by 17.8%, which reflects the ongoing challenging market conditions and customers delays in projects in EMEA. The absence of big events rentals in 1Q15 (uneven year) is offset by the positive currency effect. The order book is at EUR 27.4 million (-31.6% vs 2014, excl. big event rentals), and 2015 revenue is likely to be in the range of EUR 100-115 million. Despite the stable Opex in 1Q15 vs 1Q14 we maintain the guidance for high single digit operating expenses growth in 2015 vs 2014. This is due to timing effects, mainly relating to recruitment, the new building depreciation (starting as of 2Q15) and currency effects."

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: [phone] (United Kingdom), [phone] (Belgium), [phone] (United States)
Conference call ID: 953090

Corporate Calendar:
Tuesday May 19, 2015: Ordinary General Meeting
Thursday August 27, 2015: 2Q15 results
Friday November 13, 2015: 3Q15 results

For more information, please contact:   Magdalena BARON, 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. A total of 508 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

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