- 2Q10 revenue of EUR 30.2 million, +61.8% vs. 2Q09 (+41.6% at constant exchange rate and excluding the big events rentals), confirming some industry recovery
- Studio represents 56.7% of 2Q10 sales
- 2Q10 EBIT margin of 52.4% and earnings per share of EUR 0.83
- 1H10: revenue up 40.0%, EBIT margin 49.9%
- Record summer order book of EUR 38.9 million (+64.8%) as of August 25, 2010
- 2010 supported by major sporting events rentals and many studio projects
- 2010 sales expected to slightly exceed EUR 100 million
Liege (Belgium), August 26, 2010, EVS Broadcast Equipment S.A. (Euronext Brussels: EVS.BR, Bloomberg: EVS BB, Reuters: EVSB.BR) (Pinksheets: EVBEF), the leader in Professional Digital Video applications for live, near-live and studio TV production, today reported its results for the second quarter ("2Q10") and first half of 2010 ("1H10").
Key highlights
Pierre L'Hoest, CEO of EVS said: "Once again, our teams delivered ! The World Cup in South Africa is now behind us, and it has been a huge success. The production has passed a new threshold with the delivery of wonderful images for television, internet and mobile platforms. The EVS solutions deployed at the stadiums and in the International Broadcast Center in Johannesburg allowed directors and operators to leverage the quality of shots delivered by the various types of cameras. The new off-side line also proved to be an important tool for operators in the trucks, giving even more dynamism to the replays. But, while these big events are important to us, I also want to highlight our continued progress in the studio segments. And to make sure that we have the right solutions in place to expand in that market, we will continue to hire qualified engineers to prepare our future growth."
Commenting on the results and perspectives, Jacques Galloy, CFO, added: "This quarter was again strong. Sales reached EUR 30.2 million, or +61.8%. And the momentum has continued to be solid during the last months, as evidenced by the record seasonal order book which is reaching EUR 38.9 million, up 64.8%, especially thanks to strong May and June months during which our customers were placing orders to prepare the next TV season starting late August. Both studio and outside broadcast segments benefit from the market recovery, and we continue to get lots of smaller deals from existing and new clients, which evidences the widespread EVS customer base. The operating margin improves and reaches 52.4% while we have hired many staff, consolidated OpenCube for the first time and booked lower margins on the rentals for the world cup and some large projects."
| (unaudited) | IFRS - EUR millions, except earnings per share expressed in EUR | (reviewed) | ||||
| 2Q10 | 2Q09 | 2Q10/2Q09 | 1H10 | 1H09 | 1H10/1H09 | |
| 30.2 | 18.7 | +61.8% | Revenue | 51.1 | 36.5 | +40.0% |
| 15.8 | 8.3 | +91.5% | Operating profit - EBIT | 25.5 | 17.4 | +46.7% |
| 52.4% | 44.3% | - | Operating margin - EBIT % | 49.9% | 47.6% | - |
| -0.1 | -0.6 | N/A | Contribution from XDC affiliate | -0.3 | -1.4 | N/A |
| 11.2 | 5.0 | +126.5% | Net profit - Group share | 17.5 | 10.4 | +68.1% |
| 11.9 | 6.4 | +85.5% | Net profit from operations, excl. XDC - Group share (1) | 18.5 | 12.9 | +44.2% |
| 0.83 | 0.37 | +126.6% | Basic earnings per share | 1.29 | 0.77 | +68.1% |
| 0.88 | 0.47 | +85.6% | Basic earnings per share from operations, excl. XDC (1) | 1.37 | 0.95 | +44.3% |
(1) The net profit from operations, excl. XDC, is the net profit (share of the group) excluding non operating items (net of tax) and the XDC contribution. Refer to Annex 5.3: use of non-gaap financial measures.
Corporate Calendar:
September 10-14, 2010 IBC Trade Fair in Amsterdam (NL)
Thursday November 18, 2010 3Q10 results
Thursday February 17, 2011 FY10 earnings
Thursday May 12, 2011 1Q11 earnings
For more information, please contact:
Jacques GALLOY, Director & CFO
Geoffroy d'OULTREMONT, Investor Relations & Corporate Communications Manager
EVS Broadcast Equipment S.A., Liege Science Park, 16 rue du Bois Saint-Jean, B-4102 Ougrée (Liege), Belgium
Tel: +32 4 361 70 14. E-mail: corpcom@evs.tv; www.evs-global.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 Group
EVS Broadcast Equipment designs, develops and markets professional digital equipment for Television. The company employs over 350 persons in 14 countries and sells its products to professionals of the video and audio sectors in more than 90 countries. EVS is a public company traded on Euronext Brussels: EVS, ISIN: BE0003820371. For more information, refer to www.evs-global.com (http://www.evs-global.com/)
EVS Broadcast is the world leader for Live TV Production Digital Disk Recorders and Related Software Applications, especially in the field of sports. The company's dedicated hardware and software suite offer a complete production platform: live slow motion (LSM), high speed slow motion, replay only, clips generation, quick clips editing, real-time SD/HD video files transfer, time delay, multi-camera recording, metadata association, graphics storage and play-out, digital transmission, multi-format ingest and play-back, audio record & edit, webcasting, mobile phone clipping. Main software applications like the "IP Director®" are running on the dedicated robust and flexible hardware the "XT[2]® Platform". The world's leading broadcasters, such as NBC, BSkyB, FOX, RTBF, RTL, NHK, CANAL+, ABC, ESPN, TF1, CCTV, PBS, CBS, BBC, ZDF, Channel One, Channel7, RAI, TVE, NEP, MEDIAPRO, EUROMEDIA, BEXEL, ALFACAM and many others use EVS' solutions.
EVS 41,3% affiliate XDC is the European leader for Digital Cinema technology and services in Europe with more than 1,350 committed digital screens in 11 European countries (Germany, Switzerland, Spain, Austria, Portugal, Belgium, The Netherlands, Hungary, Czech Republic, Slovakia and Poland) out of which 50% have already been deployed
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