Elettronica
EVS Broadcast Equipment reports first quarter 2014 results
> 1Q14 highlights
o Revenue of EUR 29.3 million, in line with management's cautious message in February, reflecting soft economic environment in the broadcast industry
o EBIT of 10.0 million (34.1% EBIT margin), EPS of EUR 0.53
o Successful EVS showcase at the Winter Games in Sochi
o New products launches at NAB tradeshow (incl. 12-channel XS server) welcomed by customers, solidifying EVS product category leadership
> 2014 highlights
o Spring order book of EUR 44.9 million on May 10, 2014
> +14.6% vs. 2013, excluding big events
> In addition, EUR 10.7 million order book for 2015 and beyond
o If market conditions do not improve, the revenue in 2014 (incl. EUR 10-12 million big event rentals) is expected to grow at high single digit compared to 2013
o 10-15% expected opex growth mainly related to investments in new technologies
> Total dividend of EUR 2.16, resulting in a payout ratio of 85.7% and a dividend yield of 4.4% (in line with average over the last years)
KEY FIGURES
COMMENTS
"In a market that is not better than last year, we have made significant progress in our different projects, targeting our four markets: Sports, Entertainment, News and Media. The Winter Olympics in Sochi was an important success and, once again, our teams can be proud of the new functionalities they delivered there. In a few weeks, the World Cup will start in Brazil, with again a crucial involvement of EVS in the TV production of this event, including the creation of many new content packages for the recently developed multimedia delivery platform ", said Joop Janssen, Managing Director & CEO of EVS. "We had a very positive feedback at the NAB tradeshow in April (Las Vegas) on our new product launches. We will continue to invest in our future growth, as we are confident in our strategy, by developing solutions for cloud and IP-network-based production workflows. This way, when market conditions improve, we will be in a good place to leverage our strong competitive position."
Commenting on the results and prospects, Magdalena Baron, CFO, said: "The EUR 29.3 million revenue in 1Q14 reflects the continued softness in our industry in 2014, in line with the cautious message we gave in February. Lower sales, combined with the increase in operating expenses, led to a 34.1% EBIT margin. Given the current trading environment, if market conditions do not improve, the revenue in 2014 is expected to grow at high single digit compared to 2013. While operating expenses growth is still expected at 10-15% for 2014, relating to the investments in new technologies, we further increase cost control and selectively invest in the important developments linked to our growth opportunities"
Corporate Calendar
Tuesday May 20, 2014: Combined General Meeting
Wednesday May 28, 2014: Final dividend: ex-date
Friday May 30, 2014: Final dividend: record date
Monday June 2, 2014: Final dividend: payment date
Friday June 20, 2014: postponed Extraordinary General Meeting
Thursday August 28, 2014: 2Q14 earnings
Tuesday November 18, 2014: 3Q14 earnings
Copyright GlobeNewswire
Attachment(s)
http://hugin.info/133958/R/1785608/612351.pdf
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Source: %s via Globenewswire