EVS Broadcast Equipment reports first quarter 2014 results
May 15 2014 - 12:30AM
> 1Q14
highlights
o Revenue of EUR 29.3 million, in line with management's
cautious message in February, reflecting soft economic environment
in the broadcast industry
o EBIT of 10.0 million (34.1% EBIT margin), EPS of
EUR 0.53
o Successful EVS showcase at the Winter Games in
Sochi
o New products launches at NAB tradeshow (incl. 12-channel XS
server) welcomed by customers, solidifying EVS product category
leadership
> 2014 highlights
o Spring order book of EUR 44.9 million on May 10,
2014
> +14.6% vs. 2013, excluding
big events
> In addition, EUR 10.7
million order book for 2015 and beyond
o If market conditions do not improve, the revenue in 2014
(incl. EUR 10-12 million big event rentals) is expected to grow at
high single digit compared to 2013
o 10-15% expected opex growth mainly related to investments
in new technologies
> Total
dividend of EUR 2.16, resulting in a payout ratio of 85.7% and a
dividend yield of 4.4% (in line with average over the last
years)
KEY FIGURES
EUR millions, except earnings per share
expressed (EUR) |
Unaudited |
1Q14 |
4Q13 |
1Q13 |
1Q14/1Q13 |
Revenue |
29.3 |
38.5 |
32.8 |
-10.6% |
Gross
margin |
22.0 |
28.2 |
26.0 |
-15.5% |
Gross margin % |
74.9% |
73.3% |
79.2% |
- |
Operating
profit - EBIT |
10.0 |
15.9 |
14.5 |
-30.7% |
Operating margin - EBIT % |
34.1% |
41.3% |
44.0% |
- |
Contribution from dcinex |
0.1 |
(0.2) |
-0.2 |
N/A |
Net profit
(Group share) |
7.1 |
10.7 |
10.0 |
-29.2% |
Basic
earnings per share (Group share) |
0.53 |
0.80 |
0.75 |
-29.5% |
COMMENTS
"In a market that is not better
than last year, we have made significant progress in our different
projects, targeting our four markets: Sports, Entertainment, News
and Media. The Winter Olympics in Sochi was an important success
and, once again, our teams can be proud of the new functionalities
they delivered there. In a few weeks, the World Cup will start in
Brazil, with again a crucial involvement of EVS in the TV
production of this event, including the creation of many new
content packages for the recently developed multimedia delivery
platform", said Joop Janssen, Managing Director & CEO of EVS.
"We had a very positive feedback at the NAB tradeshow in April (Las
Vegas) on our new product launches. We will continue to invest in
our future growth, as we are confident in our strategy, by
developing solutions for cloud and IP-network-based production
workflows. This way, when market conditions improve, we will be in
a good place to leverage our strong competitive position."
Commenting on the results and
prospects, Magdalena Baron, CFO, said: "The EUR 29.3 million
revenue in 1Q14 reflects the continued softness in our industry in
2014, in line with the cautious message we gave in February. Lower
sales, combined with the increase in operating expenses, led to a
34.1% EBIT margin. Given the current trading environment, if market
conditions do not improve, the revenue in 2014 is expected to grow
at high single digit compared to 2013. While operating expenses
growth is still expected at 10-15% for 2014, relating to the
investments in new technologies, we further increase cost control
and selectively invest in the important developments linked to our
growth opportunities"
Corporate
Calendar
Tuesday May 20, 2014: Combined
General Meeting
Wednesday May 28, 2014: Final dividend: ex-date
Friday May 30, 2014: Final dividend: record date
Monday June 2, 2014: Final dividend: payment date
Friday June 20, 2014: postponed Extraordinary General
Meeting
Thursday August 28, 2014: 2Q14 earnings
Tuesday November 18, 2014: 3Q14 earnings
For more information, please
contact:
Joop JANSSEN, Managing Director & CEO
Magdalena BARON, 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.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 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 497 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
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: EVS Broadcast Equipment via Globenewswire
HUG#1785608
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