EVS Reports Record Revenue and Profit in 2007, ...
* Record 4Q07 revenue of EUR 27.2 million, +42.8% vs. 4Q06
* FY07 revenue of EUR 94.7 million, +14.5% vs 2006 at constant
exchange rate
* Asia & Pacific up 36.4% over FY07, America's up 49.1%, offset
Europe down 13.6%
* 4Q07 EBIT of EUR 18.4 million, +50.3% vs. 4Q06
* FY07 EBIT of EUR 61.9 million, or 65.4% of revenue
* FY07 EPS (basic) increase of 0.5% to EUR 2.91, or +11.0% excl.
XDC
* Strong winter order book of EUR 36.4 million, +67.0%
* Studio represents 38% of that order book (with longer leadtime)
* 2008 guidance: growth compared to 2007, particularly in the first
half
* Gross dividend of EUR 2.28 per share to be proposed at the
General Meeting.
Liège (Belgium), February 21, 2008, EVS Broadcast Equipment S.A.
(ISIN BE0003820371, Euronext EVS.BR, Bloomberg EVS BB, Reuters
EVSB.BR, OTC Pinksheets EVBEF), the leader in Professional Digital
Video applications for Live, Near-Live and Studio TV Production,
reports today its results for the fourth quarter 2007 ("4Q07") and
the full year 2007 ended December 31, 2007 ("FY07").
Key Highlights
Pierre L'Hoest, CEO of EVS said: "As anticipated, the last quarter
yields record sales of EUR 27.2 million, mainly thanks to stronger
sales in Europe. While we expected it to be a transition year, 2007
turned out to be a growth year, with annual sales topping EUR 94.7
million, which is +22.3% at constant exchange rates and excluding the
big events rentals of 2006. We have pursued the HDTV conversion of
Outside Broadcast trucks all over the world and our teams have
succeeded in implementing key near-live studio projects. This paves
the way for 2008, which will be driven by the Football Euro 2008 and
the Olympics. On the longer term, our customers are initiating or
pursuing their tapeless transition and the shift towards HDTV
production and transmission. EVS clearly benefits from the current
HDTV start in Europe and its further penetration in the studio
market."
Commenting on the results, Jacques Galloy, CFO said: "While expanding
sales, we have strengthened the group by increasing our headcount by
18%, mainly in R&D and field operations, in the 11 countries where we
are present. Operating expenses have grown by 26.9% without damaging
the operating margin, which has remained at 65%, despite the weakness
of the US dollar. We are creating new local partnerships or new
offices to reinforce market presence. Product innovation and customer
service remain our key drivers. We are pleased to reward our
shareholders by proposing a final gross dividend of EUR 2.28 next
May, including the gross interim dividend of EUR 0.80 paid out last
November".
(unaudited) IFRS - EUR millions, (audited)
except earnings per share
4Q07 4Q06 4Q07/4Q06 expressed in EUR FY07 FY06 FY07/FY06
27.2 19.0 +42.8% Revenue 94.7 85.2 +11.2%
18.4 12.2 +50.3% Operating profit - EBIT 61.9 56.9 +8.8%
67.7% 64.3% +3.4pp Operating margin - EBIT 65.4% 66.8% -1.4pp
%
-1.3 -0.1 N/A Contribution from 47% -3.0 -2.5 N/A
XDC affiliate
- - N/A Exceptional XDC dilution - 3.4 N/A
profit (1)
11.5 8.4 +36.7% Net profit - Group share 39.5 39.4 +0.2%
Net profit from
13.0 8.7 +50.3% operations, excl. XDC - 43.6 39.4 +10.7%
Group share (2)
0.85 0.62 +36.8% Basic earnings per share 2.91 2.89 +0.5%
Basic earnings per share
0.96 0.64 +50.4% from operations, excl. 3.21 2.89 +11.0%
XDC(2)
(1) EVS share in XDC has decreased to 47.20% from 60.17% in June
2006, leading to a dilution profit and a change in the consolidation
method of XDC stake in the consolidated accounts of EVS: XDC 47.20%
stake is booked at equity method.
(2) 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 noon-gaap financial
measures.
For more information, please contact:
Jacques GALLOY, Director & CFO
Geoffroy d'OULTREMONT, Investor Relations and Corporate
Communications Manager
EVS Broadcast Equipment, Liege Science Park, 16 rue du Bois
Saint-Jean, B-4102 Liège-Ougrée, Belgium
Tel: +32 4 361 7014. E-mail: corpcom@evs.tv; www.evs-global.com