EVS Broadcast Equipment reports first quarter 2016 results
GlobeNewswire

Publication on May 12, 2016, before market opening
Regulated information - Press release quarterly results
EVS Broadcast Equipment S.A.: Euronext Brussels (EVS.BR), Bloomberg (EVS BB), Reuters (EVSB.BR)

  • 1Q16 highlights

    • Revenue of EUR 26.9 million, +11.4% compared to 1Q15 (+10.4% excl. event rentals and at constant currency)

    • Strong quarter in Americas and APAC,

    • EBIT of EUR 7.6 million (28.1% EBIT margin, or 24.3% EBIT margin excluding other revenues)

    • Net profit of EUR 4.9 million, EPS of EUR 0.36

  • 2016 outlook

    • Order book of EUR 53.8 million on May 10, 2016 (to be invoiced in 2016), which includes EUR 10.8 million for big event rentals

      • + 96.2% compared to 2015; +19.8% vs last big events year (2014)

    • Revenue in 2016 is expected to be between EUR 120 million and EUR 140 million (incl. around EUR 11 million of big event rentals)

    • Controlled opex growth in 2016

KEY FIGURES

EUR millions, except earnings per share (EUR)

Unaudited

1Q16

1Q15

1Q16/1Q15

Revenue

26.9

24.1

+11.4%

Gross margin

18.9

17.2

+9.9%

Gross margin %

70.5%

71.4%

-

Operating profit - EBIT

7.6

5.5

+37.9%

Operating margin - EBIT %

28.1%

22.7%

-

Net profit (Group share)

4.9

4.8

+1.4%

Basic earnings per share (Group share)

0.36

0.36

+1.3%

COMMENTS

"The recent NAB show confirmed that the key growth drivers of the broadcast industry are 4K, IP and multiplatform delivery", said Muriel De Lathouwer, Managing Director & CEO of EVS. "But it also highlighted that the adoption of these new technologies will happen over years. EVS actively supports customers in these different transitions. The AIMS alliance (Alliance for IP Media Solutions), of which EVS is an active member, clearly helps making progress in the transition to IP."

Commenting on the results and prospects, Yvan Absil, CFO, said: "Our first quarter sales were in line with our expectations and we delivered a strong order book in the context of a big event year. Revenue was supported by good performance in the Americas and APAC regions. For 2016, we expect revenue to be between EUR 120 million and EUR 140 million, including around EUR 11 million of rentals from big events. We entered 2016 with the same disciplined approach to cost management. The EBIT margin for the quarter was 28.1% (24.3% excluding other revenues), and the EPS EUR 0.36."

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.

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