EVS reports revenue of EUR 17.8 million in 1Q09...
* 1Q09 revenue of EUR 17.8 million, -29.9% vs. 1Q08 (-32.4% at
constant exchange rate) but +30.6% vs. 4Q08
* Europe down 25.1%, Asia & Pacific down 50.6%, America down 26.8%
(-36.3% at constant exchange rate) compared to 1Q08
* Costs under control, EBIT margin of 51.0% for 1Q09
* Net result of EUR 5.4 million, -53.4% vs 1Q08 but +192.8% vs 4Q08
* Healthy balance sheet, with a net cash position of EUR 52.7
million (57.8% of total assets)
* Better NAB tradeshow than expected on the back of the launch of
several new products
* Spring order book of EUR 12.6 million as of April 30, down 63.0%
vs 2008, with continued challenging market conditions
* Very limited visibility on 2009 but focus on market share growth
in studio and 2010 sporting events
* Total gross dividend of EUR 2.48 and cancellation 250,000 shares
to be proposed at the General Meeting of May 19.
Liège (Belgium), May 14, 2009, 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 first quarter of 2009 ("1Q09").
Key highlights
Pierre L'Hoest, CEO of EVS said: "While the level of our business in
the first quarter of 2009 cannot be satisfying, we have seen in the
first four months of this year an improvement compared to the months
of September till November 2008. This encourages us to continue our
efforts in accelerating the development of new solutions and products
to improve the workflow efficiency of our customers in both outside
broadcast and studio segments and in optimizing our organizational
processes. The market conditions remain challenging and our clients
are cautious with their capital expenditure. The recent NAB tradeshow
in Las Vegas confirmed that our new developments respond to new needs
in studio production. We stay committed to our existing strategy,
leveraging on the same structural long term drivers that have
contributed to the success of EVS: tapeless transition, higher TV
production effectiveness requirements, high definition and more
diversified TV sports."
Commenting on the results and perspectives, Jacques Galloy, CFO
added: "The EUR 17.8 million revenue in the first quarter 2009 is up
30.6% compared to the weak last 2008's quarter. We probably have the
worst behind us. Despite the challenging market conditions, we
deliver a 51.0% EBIT margin, which underlines our ability to keep the
costs under control in such an environment. As we go forward in 2009,
we see some investments relating to the big events of 2010 increasing
in the second half of the year. The impact of the economic downturn
on our business over time will depend on the depth and length of the
downturn. We believe that EVS should emerge stronger when recovery
appears given both our solid balance sheet, continued investment in
R&D and good market position."
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. - Fax: + 32 4 361 70 89 - 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, develops and markets professional
digital equipment for Television. The company employs over 235
persons 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, RTBF, RTL, NHK, CANAL+, ABC,
ESPN, TF1, CCTV, PBS, CBS, BBC, ZDF, Channel7, RAI, TVE, NEP,
MEDIAPRO, EUROMEDIA, BEXEL, ALFACAM and many others use EVS'
solutions.
EVS 47,2% affiliate XDC is pioneering Digital Cinema Logistics and
Play-out and operates between the movies distributors and exhibitors.
XDC has installed more than 400 digital screens throughout Europe in
Germany, Sweden, France, Austria, Portugal, UK, Belgium, etc.
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