EVS Broadcast Equipment reports first quarter 2017 results

Donnerstag, 11.05.2017 06:35 von GlobeNewswire

Publication on May 11, 2017, before market opening

Regulated information - Press release quarterly results

EVS Broadcast Equipment S.A.: Euronext Brussels (EVS.BR), Bloomberg (EVS BB), Reuters (EVSB.BR)

• 1Q17 highlights
  • Revenue of EUR 24.5 million, -9.3% compared to 1Q16 (excl. event rentals and at constant currency)
  • Operating expenses under control (+0.2% compared to 1Q16)
  • EBIT margin of 20.1% (compared to 24.3% EBIT margin excluding other income in 1Q16)
  • Net profit of EUR 3.6 million, EPS of EUR 0.26
    
     
• Gross total dividend of EUR 1.30 (including EUR 0.60 interim dividend paid in November 2016) proposed at the Ordinary general meeting
  
   
• Outlook
  • Order book of EUR 35.5 million on May 10, 2017 (to be invoiced in 2017)
    • +33.1% vs last uneven year, excl. big event rentals
  • Additional EUR 18.5 million orders to be invoiced in 2018 and beyond, including EUR 8.2 million of big events rentals
  • Revenue are expected to be in the EUR 115 million to EUR 130 million range in 2017
  • Opex are expected to grow moderately in 2017

KEY FIGURES

EUR millions, except earnings per share (EUR)	Unaudited
	1Q17	1Q16	1Q17/1Q16
Revenue	24.5	26.9	-8.7%
Gross margin	17.2	18.9	-9.0%
Gross margin %	70.3%	70.5%	-
Operating profit - EBIT	4.9	7.6	-34.8%
Operating margin - EBIT %	20.1%	28.1%	-
Net profit (Group share)	3.6	4.9	-26.9%
Basic earnings per share (Group share)	0.26	0.36	-26.9%

COMMENTS

"We are satisfied with the start of the year, and we received very positive feedback at the recent NAB tradeshow in Las Vegas, regarding the EVS portfolio evolution with the transition into IP, the innovation shared with our customers, and our latest XT4K server" said Muriel De Lathouwer, CEO of EVS.

Commenting on the results and prospects, Yvan Absil, CFO, said: "Our first quarter results and order book reflect the usual start of uneven years. In addition, timing of product shipments and project delays also slightly impacted the end of the quarter. For 2017, we expect revenue to be in the range of EUR 115-130 million, and operating expenses to increase moderately compared to 2016. Lastly, on the 16^th of May, the Board of Directors will propose a total gross dividend of EUR 1.30 per share to the Ordinary General Meeting, which represents 53.5% payout ratio and a yield superior of 3.5%."

Conference call

EVS will hold a conference call in English today at 2.30 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: +44 (0)20 7162 0077 (United Kingdom), +32 (0)2 290 14 07 (Belgium), +1 646 851 2407 (United States)

Conference call ID: 961877

Corporate Calendar:

May 16, 2017: Ordinary General Meeting

May 22, 2017: final dividend - ex-date

May 23, 2017: final dividend - record-date

May 24, 2017: final dividend - pay-date

August 31, 2017: 2Q17 results

November 16, 2017: 3Q17 results

For more information, please contact:   Yvan ABSIL, CFO 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: +32 4 361 70 13.  E-mail:corpcom@evs.com; 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 is globally recognized as the technology leader for live video production. The company introduced Live Slow Motion replay in 1994, and has continued to build on its reputation for quality and reliability with solutions that enhance live sports, entertainment and news content. Innovations - such as the C-Cast multimedia platform and DYVI IT-based switcher - are raising the bar for live production enrichment, management and distribution. Broadcasters, rights owners, producers and venues alike use EVS to maximize the value of their productions and increase revenue streams. The company is headquartered in Belgium with around 500 employees in offices in Europe, the Middle East, Asia and North America, and provides sales and technical support to more than 100 countries. EVS is a public company traded on Euronext Brussels: EVS, ISIN: BE0003820371. For more information, please visit www.evs.com

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