EVS secures EUR 24 million financing over 7 yea...

Publication on November 14, 2013, 12.00pm CET
EVS Broadcast Equipment S.A.: Euronext Brussels (EVS.BR), Bloomberg (EVS BB), Reuters (EVSB.BR)

EVS secures EUR 24 million financing over 7 years for its new headquarter and innovation center in Liege

Liege, Belgium, November 14, 2013 - EVS Broadcast Equipment, the leading provider of live video production systems, today announces it has secured the long-term financing of its new headquarter and innovation centre in Liège.

As part of its long-term evolution, EVS is strengthening its Research and Development and its overall organization by preparing the gathering of all its Liège based employees in a new centralized facility. As a consequence of the rapid growth over the last years, more than 315 staff are currently split over 6 different buildings on the Liege Science Park, which is not optimal for a predominantly software development and big systems integration company.

The new facility (around 20.000 square meters) is divided into 6 levels, out of which 3 are fully dedicated to innovation and project development where big systems are not only developed but also assembled and tested before being shipped across the globe. The global budget approximates EUR 45 million, after deducting ERDF (European Regional Development Fund) subsidies granted by the Walloon Region. The works started in autumn 2011 and shall be completed in autumn 2014. By the end of September 2013, EUR 25.7 million have been already invested (less EUR 3.5 million of subsidies booked at the same date). This amount has been funded by strong organic cash generation while a bit less than half of the project value will be financed through financial debt.

As part of this major project, EVS has signed today in Liege a EUR 24 million credit facility with a consortium of 3 major banks over 7 years: European Investment Bank (50%, EUR 12 million), ING Belgium (25%, EUR 6 million) and BNP Paribas Fortis (25%, EUR 6 million). The first drawdown of EUR 8 million shall happen by the end of November. The first repayment is planned early 2015 and the last repayment shall occur in 2020.

Pim van Ballekom, EIB's Vice-President, said on the occasion of signature: "The Growth Finance Initiative allows us to provide tailor-made financing solutions to companies that invest above industry average in RDI-intensive sectors. With its strong focus on research, development and innovation, EVS is an ideal candidate for this new financial instrument".

"BNP Paribas Fortis is very happy to be able to co-finance the development of a company such as EVS, flagship of the Belgian dynamism. More than ever, BNP Paribas Fortis wants to be the key partner of entrepreneurs, in Belgium and in the 80 countries where BNP Paribas is present," said Benoit Mélot, Area Manager (Liège-Namur-Luxembourg) Commercial Banking at BNP Paribas Fortis.

Sébastien D'Hondt, Head of ING Corporate Clients Belgium added: "ING Belgium is proud to contribute to the long term financing of EVS, through its new headquarter project, and to support the company, that we consider as a real Belgian technological flagship, in its future growth. Being present for our business clients and supporting them with their good projects in society is an important role that is key for us".

Joop Janssen, EVS' Chief Executive Officer: "We are very happy to have this consortium to finance our ambitious vision, in particular the new state-of-the-art headquarters which will enable us to improve internal communication and interaction within the company".

Jacques Galloy, EVS' Chief Finance Officer: "We have identified EIB, ING and BNP as financial partners for accompanying our developments through this EUR 24 million senior debt. They have a good understanding of our business, risks and potential. They have been faithful partners to our group over the last decade, amongst other with the EUR 150 million financing late 2008 of our 40% affiliate dcinex, leader in pan-European Digital Cinema infrastructure deployment".

For more information, please contact: Joop JANSSEN, Managing Director & CEO Jacques GALLOY, Director & CFO Geoffroy d'OULTREMONT, Vice President  Investor Relations & Corporate Communication EVS Broadcast Equipment S.A., Liege Science Park, 16 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 offices in Europe, the Middle East, Asia and North America. Approximately 482 EVS professionals from 20 offices are selling 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. 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.

Press release in pdf format
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Source: EVS Broadcast Equipment via Thomson Reuters ONE

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