EVS Broadcast Equipment reports first quarter 2019 Trading update
May 09 2019 - 12:30AM
EVS Broadcast Equipment reports first quarter 2019 Trading update
Publication on May 09, 2019, before market openingRegulated
information – Press release annual resultsEVS Broadcast Equipment
S.A.: Euronext Brussels (EVS.BR), Bloomberg (EVS BB), Reuters
(EVSB.BR)
EVS Q1 2019 Business
update
- EVS global leader in live video technology for
broadcast and new media productions today announces its business
update for the first quarter ending 31 March 2019.
HIGHLIGHTS
o EVS’ pipeline of prospective customers increases
in all regions o The Broadcast Market conditions remain
however challengingo Excellent NAB trade show with key
EVS highlights: New features for XT-Via, IP enabled solution, EVS
VIA platform, etc.o Order book (to be recognized in
revenue in 2019) of EUR 42.8 million (excl big event rentals) on
April 30, 2019, versus EUR 42.2 million (excl big event rentals) at
the same date last year. (+1.5% vs last year)o
Confirmation of the guidance on revenues, between EUR 100 million –
EUR 120 million, with a stronger H2o Confirmation of
the guidance on Opex, less than 2% OPEX, thanks to disciplined cost
management.
COMMENTS
Dr. Pierre De Muelenaere, Chairman of
the Board and Interim CEO comments the business
development: “People, sales, product development and strict costs
management continue to be our main focus in 2019. Thanks to our
sales team effort, and in a continued challenging and cautious
market, we are seeing positive development of our funnel and sales
leads. For the first 4 months of 2019, the order intake is 11%
higher than last year in the same period. In the recent NAB show in
Las Vegas, we have received positive feedbacks from the large
number of customers visiting our booth. In particular our partners
support the directions we’re taking with our new products,
solutions and recent innovations. The latest evolutions of the
XT-VIA announced at the NAB confirm the EVS leadership in the
high-end live sports”.
On the corporate developments, Dr. Pierre De
Muelenaere added: “At our Ordinary General Meeting, we will propose
the nomination of three new directors of the Board: Tom Bamelis
(already appointed under the cooptation procedure), representing
Ackermans & van Haaren, Philippe Mercelis, representing Belfius
Insurance and Anne Cambier. These new arrivals will help EVS with
additional skills and a more balanced Board with an improved
representation of shareholders. At the OGM we wilI also thank Yves
Trouveroy who is leaving our Board at the end of his third mandate
as independent director”.
Commenting on the results and the outlook,
Yvan Absil, CFO, said: “As announced previously,
and based on the analysis of our pipe-line, we expect a stronger
second half in 2019. Our orderbook (without big events) as of April
30th amounts to EUR 42,8 million, with about 75% expected to be
recognized as revenues in H1 2019.The Opex initiatives initiated in
H2 2018 continue to bear positive effects in 2019. This, combined
with additional initiatives started in 2019 allows us to confirm
our opex guidance of less than 2% increase Year on Year in 2019.
Based on our Order Book and pipeline analysis, we also confirm our
revenue guidance for 2019 of EUR 100-120 million.”
On the Share Buy Back program, Yvan Absil,
added: “We are continuing with our share buyback program announced
in October 2018 and have currently purchased EVS shares for a total
amount of EUR 4.6 million”.
EVS Market Dynamics and customer wins
The Market remain challenging for broadcasters
with acceleration of consolidation, transition to IP and cloud
solution and the impact of Digital on production.EVS is continuing
to develop products addressing these challenges: Recently EVS
unveiled a new ingest-to-post solution, a software defined solution
of micro services based on EVS VIA platform. The Future IPD-VIA
asset management platform is promising to exceed the expectations
of future media/broadcast centers. Finally, DYVI supporting IP and
UHD was introduced at NAB ShowAs of end April, the order intake in
all 3 geographies progressed well versus the same period last year,
with +11% order intake (excl. big event rentals) supported by
strong growth YoY in EMEA.
Some key wins:
- Mobile TV Group, a leading live production facilities provider,
is using EVS’ VIA latest technology to power its new 45 Flex truck
with IP. The first full IP truck.
- Swedish national public broadcaster SVT has utilized EVS live
production technology to successfully deliver two complex and
ambitious remote productions for high-profile winter sports
events
- First DYVI sold in Australia to a major broadcaster
- Continuing addressing E-sports with 4K servers sold to EA
Sports
Outlook
The order book (to be recognized in 2019) on
April 30, 2019 amounts to EUR 42.8 million which is +1.5% compared
to EUR 42.2 million last year (at the same date) excluding big
event rentals.Additional EUR 1.2 million orders already received
for big event rentals to be recognized in 2019.In addition to this
order book to be invoiced in 2019, EVS already has EUR 5.6
million of orders to be invoiced in 2020 and beyond.
Based on the current market outlook and expected
second-half weighting, the management confirms the following
guidance for 2019 given at the time of its Annual 2018 financial
results publication
- revenue will be in the EUR 100 million to EUR 120
million range (with H2 stronger than H1)
- Opex is expected to grow by less than 2%
Corporate Calendar:
May 21, 2019: Ordinary General MeetingAugust 29,
2019: 2Q19 & 1H2019 resultsNovember 14, 2019: 3Q19 trading
update
For more information, please contact: Yvan
ABSIL, CFOEVS Broadcast Equipment S.A., Liege Science Park, 13 rue
du Bois Saint-Jean, B-4102 Seraing, BelgiumTel: +32 4 361 70
00. 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 leader in live video
technology for broadcast and new media productions. Our passion and
purpose are to help our clients craft immersive stories that
trigger the best return on emotion. Through a wide range of
products and solutions, we deliver the most gripping live sports
images, buzzing entertainment shows and breaking news content to
billions of viewers every day – and in real-time.The company is
headquartered in Belgium with 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. |
- Press release in PDF format
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