Elettronica
EVS Broadcast Equipment reports third quarter 2014 results
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o Revenue of EUR 36.0 million, +28.6% (+1.3% excl. event rentals and at constant currency), in line with management expectations
o Solid performance Americas and EMEA, record big event rentals
o EBIT of EUR 14.3 million (39.8% EBIT margin), EPS of EUR 0.84
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o Order book of EUR 18.9 million on October 31, 2014
> -35.1% vs. record 2013
> In addition, EUR 7.9 million order book for 2015 and beyond
o 2014 guidance:
> Live production server market continues to be weak and we confirm the signs of moderate slowdown as observed since August
> Confirmation of the revenue (incl. EUR 14.3 million big event rentals) growth at low single digit compared to 2013
> Opex growth is now expected to be around 10%
o 2015:
> Opex growth is expected to be around 10 % (compared to previous expectation of 10% to 15% growth)
"In my current role of President of the Executive Committee, I have made sure, together with the Executive Committee, that all necessary decisions continue to be taken, and that there is no disruption in the management of the company," said Muriel De Lathouwer, member of the Board of Directors (also chairing the strategic committee) of EVS. "We have designed a new internal structure that will allow us to have a more efficient decision-making process in place to even better serve our four target markets: Sports, Entertainment, News and Media."
Commenting on the results and prospects, Magdalena Baron, CFO, said: "Our top line performance in the third quarter was fully in line with expectations. Revenue was up by +28.7% compared to 3Q13 (at constant currency) due to a record level of rentals and led to a higher operating margin (39.8%). Obviously, we continue to be challenged by the weakness of the live production server market, and we confirm the moderate slowdown as observed since August. In this tough market environment we also confirm that sales in 2014 are expected to grow at low single digit compared to 2013. The operating expenses growth is now expected around 10% for 2014. For 2015, while we stay committed to investing in our future growth, we put in place active programs for Opex management, which should result in Opex growth around 10%."
Copyright GlobeNewswire
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Source: %s via Globenewswire