Elettronica
EVS Broadcast Equipment : EVS reports First quarter 2013 results
> Solid 1Q13, with a soft start and increasing momentum during the quarter
o Revenue of EUR 32.8 million, +9.2% (+9.4% excl. event rentals and at constant currency)
o
EBIT margin of 44.0%, EPS up by 15.1% to EUR 0.75
> 2013: spring order book of EUR 32.8 million at May 10, 2013
o -39.0% vs record 2012 spring order book (-26.8% excl. big events)
o Stronger APAC, stable EMEA and weaker Americas market conditions
o
As usual, low visibility in a non-big sporting event year
> Execution of new strategy and organization plan on track
> Total gross dividend of EUR 2.64 (dividend yield of 5.6%)
> Despite a weaker order intake in the Americas we maintain our guidance for 2013
(1) The net profit from operations, excl. dcinex, is the net profit (share of the group) excluding non operating items (net of tax) and the dcinex contribution. Refer to Annex 5.3: use of non-gaap financial measures.
"The first quarter delivered by our company is encouraging," said Joop Janssen, Managing Director & CEO of EVS. "In an uncertain macro-economic environment, we posted again a solid performance. While some regions and countries go through challenging times more than others, the global reach and EVS' strong brand and product position gives us confidence to deliver our ambitious plan. We are in particular proud of our very good progress in APAC where in addition to a strong market development our share in it seems to grow even more rapidly in the quarter. Our new strategy, launched in February of this year is now fully in place and very well received by our markets at the yearly global Media tradeshow (NAB) in mid April. EVS launched an impressive number of new products in all of our four target markets. The execution of the new organization plans is well on track. As indicated earlier we have brought our headcount growth further under control while concentrating on leveraging our investments in new product innovation."
Commenting on the results and prospects, Jacques Galloy, Director and CFO, said: "The first quarter of 2013 is in line with our expectations. Sales reach EUR 32.8 million, which is an increase of 9.2% compared to last year and of 28.4% compared to 4Q12. This revenue growth is higher than the market. The operating profit grew by 6.7% to EUR 14.5 million versus 1Q12, which translates into a solid 44.0% operating margin. This transforming year is on track even if markets are growing softly. EVS experiences strong momentum in APAC, partly offset by weaker America's and stable EMEA. The second half is expected to be better than the first half of the year as it should get traction from big sporting events to occur in 2014."
Corporate Calendar:
Tuesday May 21, 2013 Ordinary General Meeting
Tuesday May 28, 2013 Final dividend: ex-date
Thursday May 30, 2013 Final dividend: record date
Friday May 31, 2013 Final dividend: payment date
Thursday August 29, 2013 2Q13 earnings
Thursday November 14, 2013 3Q13 earnings
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