EVS Broadcast Equipment reports third quarter 2...

Publication on November 13, 2015, before market opening
Regulated information - Press release quarterly results
EVS Broadcast Equipment S.A.: Euronext Brussels (EVS.BR), Bloomberg (EVS BB), Reuters (EVSB.BR)

2015 revenue expected to be between EUR 110 million and EUR 115 million

2015 opex expected to grow at low single digit compared to 2014

• 3Q15 highlights
  • Revenue of EUR 28.2 million, -6.9% excl. event rentals and at constant currency, compared to 3Q14
  • As expected, improvement of revenue in the second half of 2015
  • EBIT of EUR 7.2 million (25.6% EBIT margin), net profit of EUR 4.8 million
     
• Interim gross dividend of EUR 0.50 per share
   
• 2015 outlook
  • Order book of EUR 31.4 million on October 31, 2015, to be invoiced in 2015
    • +66.1% vs. 2014 excl. big event rentals
    • In addition, EUR 13.7 million order book for 2016 and beyond, including EUR 3.5 million rentals for 2016 big events
  • Upgrade of 2015 guidance:
    • 2015 revenue now expected between EUR 110 million and EUR 115 million
    • Opex is expected to grow at low single digit vs 2014

KEY FIGURES

Unaudited			EUR millions, except earnings per share expressed in EUR	Unaudited
3Q15	3Q14	3Q15/3Q14		9M15	9M14	9M15/9M14
28.2	36.0	-21.6%	Revenue	75.6	100.9	-25.0%
19.8	26.9	-26.7%	Gross margin	52.5	75.6	-30.5%
70.0%	74.9%	-	Gross margin %	69.4%	74.9%	-
7.2	14.3	-49.5%	Operating profit - EBIT	14.6	37.2	-60.7%
25.6%	39.8%	-	Operating margin - EBIT %	19.3%	36.9%	-
4.8	11.3	-57.4%	Net profit (Group share)	10.3	27.3	-62.3%
0.36	0.84	-57.4%	Basic earnings per share (Group share)	0.76	2.02	-62.2%

* 2014 figures included higher big event rentals

COMMENTS

"The broadcast industry market continues to be challenging, with macro-economic headwinds and technology transitions still hampering investment decisions. But after a disappointing first half of 2015, our third quarter was more in line with our expectations", said Muriel De Lathouwer, Managing Director & CEO of EVS. "As indicated in August, we see some shift of business from 1H15 to 2H15. In addition, there were a higher number of upgrades to the XT3 platform than initially expected, due to the announced end-of-support of the XT2 platform as from January 1, 2016. These resulted in revenue of EUR 28.2 million, and an order book (to be invoiced in 2015) of EUR 31.4 million (+66.1% vs 2014, excl. big event rentals). Consequently, we fine-tune our revenue estimate for 2015 (between EUR 110 million and EUR 115 million) towards the top-end of the previously announced range. Thanks to strict cost control, and despite currency effects, we also review the opex guidance, with a low single digit growth expected in 2015 vs 2014. Finally, the recruitment of a new CFO is progressing well, and we should be able to make an announcement soon."

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: 956250.

Corporate Calendar

Monday November 23, 2015: interim dividend: ex-date
Tuesday November 24, 2015: interim dividend: record date
Wednesday November 25, 2015: interim dividend: payment date
Thursday February 18, 2016: FY15 results
Thursday May 12, 2016: 1Q16 results
Tuesday May 17, 2016: Ordinary General Meeting
Thursday August 25, 2016: 2Q16 results
Thursday November 10, 2016: 3Q16 results

For more information, please contact:   Muriel DE LATHOUWER, Managing Director & CEO 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. Around 500 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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