EVS Broadcast Equipment : third quarter 2012 re...

EVS Broadcast Equipment : third quarter 2012 results

Record 9M12 sales already exceeds 2011 full year revenues

  • Revenue in 3Q12 of EUR 39.5 million, +32.3% vs. 3Q11 (+6.2% excluding the big events rentals and at constant exchange rate)
  • 3Q12 EBIT margin of 48.8% and EPS of EUR 0.95
  • 9M12: revenue of EUR 112.3 million, +47.9% (+32.2% excluding the big events rentals and at constant exchange rate), EBIT margin of 49.9%
  • Stable global autumn order book of EUR 34.1 million at October 31, 2012, including EUR 22.4 million to be invoiced in 2012
  • As usual following big events summers, expected slowdown in 4Q12
  • With around EUR 134 million secured sales at October 31 for FY12, record sales to grow by more than 25% YoY will be in line with previous expectations
  • FY12 operating expenses to grow slightly more than 13%, EBIT more than 40%
  • Interim dividend of EUR 1.16 per share to be paid at the end of November

Key figures

(unaudited) EUR millions, except earnings per share expressed in EUR (unaudited)
3Q123Q113Q12/3Q119M129M119m12/9M11
39.5 29.8 +32.3%  Revenue 112.3 75.9 +47.9%
19.3 13.9 +38.6%  Operating profit - EBIT 56.0 31.1 +80.1%
48.8% 46.6% -  Operating margin - EBIT % 49.9% 41.0% -
0.0 0.5 N/A  Contribution from dcinex 0.1 3.0 N/A
12.7 10.0 +27.4%  Net profit - Group share 37.4 24.5 +52.3%
13.2 9.8 +34.5%  Net profit from operations, excl. dcinex - Group share (1) 38.8 22.9 +69.4%
0.95 0.74 +27.5%  Basic earnings per share 2.78 1.82 +52.6%
0.98 0.73 +34.6%  Basic earnings per share from operations, excl. dcinex (1) 2.89 1.70 +69.7%
  1. The net profit from operations, excl. dcinex, is the net profit (share of the group) excluding non operating items (net of tax) and the dcinex contribution. Refer to Annex 5.3: use of non-gaap financial measures.

Comments

Pierre Rion, Chairman of the Board of EVS, said: "We are delighted to have Joop on board since early September. Integration with the teams and interaction with the Board of Directors work very well. We are looking forward to communicate early 2013 our ambitions for the years till 2016 in".

Joop Janssen, Managing Director & CEO of EVS, said: "I'm very glad to have joined EVS in early September. The company has performed very well so far this year and all our employees can be proud about their achievements. While the macro-economic environment around us remains uncertain, EVS succeeded in outperforming the market, helped by the rental contracts related to the big sporting events in 2012. Shortly after my arrival at EVS, I started to work on the future vision and strategy plan of the company, with a focus on realizing our growth potential towards the year 2016. The result of this inclusive process will be based on the strong current fundamentals that enabled EVS to become such a successful company. I plan to share this vision in early 2013".

Commenting on the results and perspectives, Jacques Galloy, CFO, said: "As expected, this third quarter is again very strong with sales growing by 32.3% to EUR 39.5 million. Summer games were really successful and brought EVS to a next level. Our business grew especially in studios (+76%) and in the Americas (+48% at constant exchange rate) over the quarter. Studio sales benefitted directly from dedicated rentals relating to the Summer games. Higher sales and good cost control led to a higher EBIT margin of 48.8% of sales in 3Q12 compared to 46.6% in 3Q11. Combining 9M12 sales and the order book, we had secured sales for around EUR 134 million at October 31. We confirm record FY12 sales shall exceed +25% growth, despite the expected usual Q4 slowdown following big summer sporting events. EBIT should grow by more than 40% this year and the Board has decided to pay a stable interim dividend of EUR 1.16 per share. Looking forward, we have limited visibility after this record year and remain cautious for uneven year 2013, without major sporting events".

Corporate Calendar:

November 19, 2012: Interim dividend - ex-date

November 21, 2012: Interim dividend - record date

November 22, 2012: Interim dividend - payment date

Thursday February 21, 2013: FY12 earnings

Thursday May 16, 2013: 1Q13 earnings

Tuesday May 21, 2013: Ordinary General Meeting

Thursday August 29, 2013: 2Q13 earnings

Thursday November 14, 2013: 3Q13 earnings




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 Seraing, 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 Broadcast Equipment designs leading broadcast and media production systems for sports, news and TV entertainment. Its innovative Live Slow Motion system revolutionized live broadcasting, and its reliable and integrative tapeless solutions are now widely used for non-linear editing and 3D HD productions across the globe. 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 "XT3® Platform". The world's leading broadcasters, such as NBC, BSkyB, FOX, RTBF, RTL, NHK, CANAL+, ABC, ESPN, TF1, CCTV, PBS, CBS, BBC, ZDF, Channel One, Channel7, RAI, TVE, NEP, MEDIAPRO, EUROMEDIA, BEXEL, ALFACAM and many others use EVS' solutions.
The company is headquartered in Belgium and has offices in Europe, the Middle East, Asia and North America. Approximately 450 EVS professionals from 20 offices are selling its branded products in over 100 countries, and provides customer support globally. EVS is a public company traded on Euronext Brussels: EVS, ISIN: BE0003820371. For more information, refer to www.evs-global.com, www.evs.tv
dcinex, of which EVS owns 41.3%, is the European leader for Digital Cinema technology and services in Europe with more than 5,500 committed digital screens in Europe, out of which 3,700 have already been deployed. www.dcinex.com.



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Source: EVS Broadcast Equipment via Thomson Reuters ONE
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