EVS Broadcast Equipment : record revenue for 2012
February 21 2013 - 12:31AM
New strategy, with an eye on Rio2016
> Record FY12, driven by sporting events and even more by
strong market share gains in EVS' other segments
o Revenue: +29.0% (+18.0% excl. event rentals and at constant
currency), in line with guidance
o EBIT before one-off costs (EUR 1.4 million): +42.0% (45.4%
margin), in line with guidance
> 4Q12 revenue of
EUR 25.6 million following expected slowdown post big
events
> 2013: strong
winter order book of EUR 37.4 million at February 15,
2013
o -12.4% vs early 2012, excl. big events
o As usual, low visibility at the start of a non-big sporting
event year
> New strategy:
more focus on key markets to accelerate long-term
growth
Key figures
(unaudited) |
EUR millions, except earnings per share expressed in EUR |
Audited |
4Q12 |
4Q11 |
4Q12/4Q11 |
FY12 |
FY11 |
FY12/FY11 |
25.6 |
31.0 |
-17.5% |
Revenue |
137.9 |
106.9 |
+29.0% |
5.2 |
13.0 |
-60.1% |
Operating profit - EBIT |
61.2 |
44.1 |
+38.8% |
20.3% |
41.9% |
- |
Operating margin - EBIT % |
44.4% |
41.3% |
- |
0.4 |
-0.7 |
N/A |
Contribution from dcinex |
0.4 |
2.3 |
-82.0% |
4.4 |
7.5 |
-42.0% |
Net
profit - Group share |
41.7 |
32.1 |
+30.2% |
5.8 |
8.7 |
-34.2% |
Net
profit from operations, excl. dcinex - Group share (1) |
44.6 |
31.7 |
+40.8% |
0.32 |
0.56 |
-42.0% |
Basic earnings per share |
3.10 |
2.38 |
+30.3% |
0.43 |
0.65 |
-34.3% |
Basic
earnings per share from operations, excl. dcinex (1) |
3.31 |
2.35 |
+40.9% |
(1) The net profit from
operations, excl. dcinex, is the net profit (share of the group)
excluding non operating items (net of tax) and the dcinex
contribution. Refer to Annex 5.3: use of non-gaap financial
measures.
Comments
"These results mark a new
milestone in the already very rich and successful history of EVS,"
said Joop Janssen, Managing Director & CEO of EVS. "In 2012, we
generated record sales and I want to thank our teams for their
energy and extraordinary efforts they put in delivering on our
promises. In partnership with our customers, we set a new standard
in the live coverage of sporting events and even more encouraging
is our growth in non-sport markets. Our team outperformed
competition in these businesses, and served the fast growing demand
for EVS technologies and services from entertainment, news and
media customers. In these areas, past investments in innovation are
starting to pay off."
On the new strategy, Mr. Janssen
added: "In the last few months we reviewed in detail our strategic
options and I'm glad to launch today our new four-market strategy
plan. We listened to our growing number of customers and
repositioned our activities, organization and brand accordingly.
Key was to focus even more our resources and investments in the
most attractive markets and to strengthen our leadership team in
order to deliver our renewed growth ambition."
Commenting on the results and
prospects, Jacques Galloy, Director and CFO, said: "After some
years of sales stagnating at EUR 110 million, we closed 2012 with a
record level, with sales growing by 29.0% and topping EUR 137.9
million. As said; we benefited from big sporting events rentals
this year for about EUR 10 million but our overall business grew
strongly, especially in studios (+30.9%) and in the Americas
(+32.7% at constant currency). The operating result (EBIT) grew by
39.0% compared to last year, which includes a EUR 1.4 million
one-off provision for the strategic repositioning of the group.
Adjusted for these non-recurring items, the EBIT margin would have
been 45.4% in FY12 and the EBIT growth would have reached 42.0%,
which is in line with our previous guidance. As anticipated, 4Q12
delivered a weaker performance following a very strong sporting
summer. The order book as of February 15, even though lower than at
the beginning of 2001, is record for starting an uneven year,
highlighting our strong competitive position and the successful
investments in the past. We remain optimistic about the long term
growth drivers of EVS while our short to medium term visibility
remains limited as usual. 2013 shall not benefit from such big
sporting events but our continued investments in innovation and
expansion pave the way for positioning the company for the
future".
Corporate
Calendar:
Thursday May 16,
2013
1Q13 earnings
Tuesday May 21,
2013
Ordinary General Meeting
Tuesday May 28,
2013
Final dividend: ex-date
Thursday August 29,
2013
2Q13 earnings
Thursday November 14,
2013
3Q13 earnings
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: +32 4 361 70 14. E-mail: corpcom@evs.tv;
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
revolutionised 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 maximise
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 465 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
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the
information contained therein.
Source: EVS Broadcast Equipment via Thomson Reuters
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