EVS Q3 2021 Business update. Confirming strong results for 2021
November 18 2021 - 12:30AM
EVS Q3 2021 Business update. Confirming strong results for 2021
Publication on November 18th, 2021, before market
openingRegulated and privileged information EVS Broadcast Equipment
S.A.: Euronext Brussels (EVS.BR), Bloomberg (EVS BB), Reuters
(EVSB.BR)
EVS Q3
2021
Business update Confirming strong
results for 2021
EVS global leader in live video technology for broadcast
and new media productions
todayannounces its business update for
the third quarter ending
September 30th
2021.
HIGHLIGHTS
- EVS announces that the 2021 full year revenue guidance is
upgraded to land above EUR 135 million but still depending on
potential supply chain issues.
- The 2021 booked revenue* on September 30th, 2021 amounts to
111.9Mio€ compared to 71.0Mio€ last year**.
- For 2022, EVS sees an increasing impact of the worldwide
shortages in the supply chain of electronic components.
- EVS will distribute an interim dividend of EUR 0,50 per share
by the end of November 2021.
- Ms. Veerle de Wit has been appointed as Chief Financial Officer
as of November 2nd 2021.
* including 2021 already recognized revenues and open orders on
hand that will be recognized as revenues in 2021** excluding Big
Events Rental
COMMENTS
Serge Van Herck,
CEO comments the business development: “I’m happy
to say that we should effectively be able to deliver strong
financial results in 2021. After a challenging 2020 Covid year, we
are clearly benefiting from a post Covid recovery. While our LAB
(Live Audience Business) customers have continued to generate
growth over the last years, we now also see our LSP (Live Service
Providers) customers coming back to activity levels similar to
pre-Covid. I am also happy to observe a very good market traction
for our 3 main solutions, supporting both the increase of the
revenue guidance and feeding our order book for 2022 and following
years. The shortage situation we observe on the electronic
component market continues to generate concern and is being closely
monitored as it may have a negative effect on our capability to
deliver new customer orders on time. I take the opportunity to
thank all the EVS colleagues for delivering such strong results in
still very challenging Covid conditions around the world.”
Commenting on the results and the
outlook, Ms. Veerle de
Wit – the newly appointed CFO, said: “Our
2021 revenues should be strong thanks to an important order book at
the start of the year and thanks to important Big Event Rental
revenues. Also our strong order intake for the year 2021 (growing
79,6% incl. Big Event Rentals) has significantly contributed to our
revenue results. These strong order intake results also build the
path for our future success notably in our order book for 2022. Our
control over operational expenses remains strong and the already
strong health of our balance sheet is further improving.”.
EVS Market
Dynamics and customer wins
We observe better results than expected in our 3
market pillars of revenues (Live Service Providers – LSP, Live
Audience Business – LAB and Big Event Rental – BER).
The major summer events were a success for EVS
both from an operational perspective and from a revenue perspective
with revenues slightly higher than expected thanks to the delivery
of additional services.
We observe a significant catch-up in the LSP
market pillar that continues even after the major summer events.
Some customers are partially compensating for the delayed
investments from 2020. Others continue their investment to
modernize their OBVans. Even if some parts of the production
workflows are still executed remotely, a significant part of
premium productions have returned to a more new normal situation
with most of the workflows taking place in the venue.
Our LAB customers continue to proceed with the
modernization of their overall infrastructure leveraging the key
technological foundations based on IP, virtualization, 4K, HDR and
remote production. There is an important market traction for EVS
MediaCeption solutions.
The traction for Media Infrastructure solutions
also increases, especially in the Americas where these were totally
unknown 18 months ago before the acquisition of Axon.
For 2022, EVS remains concerned about the
worldwide shortages in the supply chain of electronic
components.
Some key topics:
- EVS has recently received two TV Technology NAB Best in Market
Awards for its XtraMotion cloud-based super slow-motion service,
and for its MediaInfra Strada turnkey SDI/IP routing solution.
- Game Creek Video, a leading provider of state-of-the-art mobile
production units for large-scale live events, has recently
completed the upgrade of one of its flagship HD production units to
full HDR capabilities based on EVS’ LiveCeption® and MediaCeption®
solutions.
- While the NAB tradeshow in Las Vegas has been cancelled, EVS
did recently participate to the CABSAT tradeshow in Dubai with the
opportunity and joy to meet customers face-to-face.
- EVS accelerates the organization of regular webinars to promote
new solutions and guide customers in their investments and
modernization projects.
- The three main solutions LiveCeption, MediaCeption and Media
Infrastructure are very well received by our customers, all
contributing positively to our order book.
- Ms. Veerle de Wit has been appointed as Chief Financial Officer
as of November 2nd 2021.She previously served as CFO for IBM
Belgium and most recently as CFO for NTT Belgium. Her extensive
international financial and operational expertise as well as her
strong affinity for business and technology will be major assets
for supporting the further growth of EVS. Her extensive experience
with the successful integration of acquired teams and companies is
an additional strength that will help EVS executing future
transactions.
Outlook
The 2021 booked revenue* on September 30th 2021
amounts to 111.9Mio€ compared to 71.0Mio€ last year (YoY increase
of 57.6%, all excluding Big Event Rental). On top of that, Big
Event Rental booked revenue amounts for 13.0Mio€ (growing 11.8Mio€
YoY), obviously a result of major sports events being held over the
summer period. These results form the basis of the upgraded revenue
guidance issued by EVS.
Next to a strong booked revenue results, EVS
also has a strong order book for 2022 and beyond, while we remain
cautious on our ability to deliver this order book timely, taking
into account the shortage in the electronic components market.
The operational expenses continue to be closely
monitored whilst balancing the needs in light of the projected
growth. EVS does foresee in a slight increase in operational
expenses in 2021, in comparison to 2020 (also as a consequence of
the integration of the Media Infrastructure acquisition Axon
performed in May 2020).
Interim dividend
The Board of Directors has decided to pay an
interim dividend of 0.50 EUR per share. The ex-date will be
November 24th, 2021 (coupon #31) and the payment date will be
November 26th, 2021.
Corporate Calendar:
February 24th, 2022: 2H2021 and FY 2021
resultsMay 17th, 2022: General AssemblyMay 19th, 2022: Q1 2022
resultsAugust 25th, 2022: H1 2022 resultsNovember 17th, 2022: Q3
2022 results
For more information, please contact:Veerle DE
WIT, CFO*EVS 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*representing a srl |
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 EVSWe create return on emotion.EVS is globally recognized as
a 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. |
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