Elettronica
EVS Broadcast Equipment : Publication of third quarter 2012 results
Publication on November 14, 2013, before market opening
Regulated information - Press release interim financial report
EVS Broadcast Equipment SA: Euronext Brussels (EVS.BR), Bloomberg (EVS BB), Reuters (EVSB.BR)
> 3Q13: Results in line with management expectations
o Revenue of EUR 28.0 million, -29.2% (-14.0% excl. event rentals and at constant currency)
o EBIT of EUR 8.4 million (30.0% of EBIT margin), EPS of EUR 0.47
> Record global autumn order book of EUR 61.0 million at October 31, 2013, including EUR 29.1 million to be invoiced in 2013
o +78.6% vs 2012 autumn order book (+56.5% excl. big events)
o Record EUR 31.9 million order book for 2014 and beyond
> Confirmation of 2013 full year guidance
o Excluding big events rentals, sales are expected to be flat compared to 2012, i.e. slightly lower than EUR 130 million
o Low double digit opex growth, including the investment in a technology start-up
> Interim dividend of EUR 1.16 to be paid at the end of November
KEY FIGURES
(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.
COMMENTS
"In a macro-economic environment that remains uncertain, we are encouraged by the market share gains we continue to achieve", said Joop Janssen, Managing Director & CEO of EVS. "We are happy with the continuing market recovery in North America after a slow first half. The Asia Pacific region remained strong, confirmed by the recently announced record order win in our ENM segment against an incumbent supplier. At the successful IBC tradeshow in September, our customers were enthusiastic about our new segmentation and the new products that we launched. There is growing evidence that IP based video network technologies will continue their entrance into the broadcast industry in the coming years, confirming our adequate investment in a startup company earlier this year. For 2014 the market conditions in Southern Europe and Americas are expected to continue to be weaker than earlier anticipated even though we expect to continue to gain strategic market share. Next year, EVS plans to further increase its R&D investments to strengthen its product portfolio and expand geographically. The search for a new group CFO is progressing well and we expect to make an announcement shortly".
Commenting on the results and prospects, Jacques Galloy, Director and CFO, said: "As expected, the third quarter of 2013 is slightly weaker than the second quarter with sales of EUR 28.0 million. This is a decrease of 29.2% compared to last year which was very high thanks to the summer sporting events. The operating profit amounted to EUR 8.4 million, down compared to last year due to the lower sales and stable operating expenses. This translates into a 30.0% operating margin. The record global autumn order book of EUR 61.0 million for sales in 2013, 2014 and beyond calls for a strong seasonal year-end, ahead of the Winter Olympics in February and in line with earlier guidance of full year revenues to be slightly below EUR 130 million".
Corporate Calendar:
Monday November 25, 2013: interim dividend: ex-date
Wednesday November 27, 2013: interim dividend: record date
Thursday November 28, 2013: interim dividend: payment date
Thursday February 20, 2014: 4Q13 earnings
Thursday May 15, 2014: 1Q14 earnings
Tuesday May 20, 2014: Ordinary General Meeting
Thursday August 28, 2014: 2Q14 earnings
Friday November 14, 2014: 3Q14 earnings
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