New strategy, with an eye on Rio2016
>Â Â Â Â Â Record FY12, driven by sporting events and even more by strong market
share gains in EVS' other segments
o Revenue: +29.0% (+18.0% excl. event rentals and at constant currency), in
line with guidance
o EBIT before one-off costs (EUR 1.4 million): +42.0% (45.4% margin), in line
with guidance
>Â Â Â Â 4Q12 revenue of EUR 25.6 million following expected slowdown post big
events
>Â Â Â Â 2013: strong winter order book of EUR 37.4 million at February 15, 2013
o -12.4% vs early 2012, excl. big events
o As usual, low visibility at the start of a non-big sporting event year
>Â Â Â Â New strategy: more focus on key markets to accelerate long-term growth
Key figures
(unaudited) |EUR millions, except earnings per | Audited
-----+-----+---------+share expressed in EUR +-----+-----+---------
4Q12 |4Q11 |4Q12/4Q11| |FY12 |FY11 |FY12/FY11
-----+-----+---------+------------------------------------+-----+-----+---------
25.6| 31.0| -17.5%|Â Revenue |137.9|106.9| +29.0%
-----+-----+---------+------------------------------------+-----+-----+---------
5.2| 13.0| -60.1%|Â Operating profit - EBIT | 61.2| 44.1| +38.8%
-----+-----+---------+------------------------------------+-----+-----+---------
20.3%|41.9%| -|Â Operating margin - EBIT % |44.4%|41.3%| -
-----+-----+---------+------------------------------------+-----+-----+---------
0.4| -0.7| N/A|Â Contribution from dcinex | 0.4| 2.3| -82.0%
-----+-----+---------+------------------------------------+-----+-----+---------
4.4| 7.5| -42.0%|Â Net profit - Group share | 41.7| 32.1| +30.2%
-----+-----+---------+------------------------------------+-----+-----+---------
5.8| 8.7| -34.2%|Â Net profit from operations, excl. | 44.6| 31.7| +40.8%
| | |dcinex - Group share( (1)) | | |
-----+-----+---------+------------------------------------+-----+-----+---------
0.32| 0.56| -42.0%|Â Basic earnings per share | 3.10| 2.38| +30.3%
-----+-----+---------+------------------------------------+-----+-----+---------
0.43| 0.65| -34.3%|Â Basic earnings per share from | 3.31| 2.35| +40.9%
| | |operations, excl. dcinex ((1)) | | |
(1)Â Â Â Â 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
"These results mark a new milestone in the already very rich and successful
history of EVS," said Joop Janssen, Managing Director & CEO of EVS. "In 2012, we
generated record sales and I want to thank our teams for their energy and
extraordinary efforts they put in delivering on our promises. In partnership
with our customers, we set a new standard in the live coverage of sporting
events and even more encouraging is our growth in non-sport markets. Our team
outperformed competition in these businesses, and served the fast growing demand
for EVS technologies and services from entertainment, news and media customers.
In these areas, past investments in innovation are starting to pay off."
On the new strategy, Mr. Janssen added: "In the last few months we reviewed in
detail our strategic options and I'm glad to launch today our new four-market
strategy plan. We listened to our growing number of customers and repositioned
our activities, organization and brand accordingly. Key was to focus even more
our resources and investments in the most attractive markets and to strengthen
our leadership team in order to deliver our renewed growth ambition."
Commenting on the results and prospects, Jacques Galloy, Director and CFO, said:
"After some years of sales stagnating at EUR 110 million, we closed 2012 with a
record level, with sales growing by 29.0% and topping EUR 137.9 million. As
said; we benefited from big sporting events rentals this year for about EUR 10
million but our overall business grew strongly, especially in studios (+30.9%)
and in the Americas (+32.7% at constant currency). The operating result (EBIT)
grew by 39.0% compared to last year, which includes a EUR 1.4 million one-off
provision for the strategic repositioning of the group. Adjusted for these non-
recurring items, the EBIT margin would have been 45.4% in FY12 and the EBIT
growth would have reached 42.0%, which is in line with our previous guidance. As
anticipated, 4Q12 delivered a weaker performance following a very strong
sporting summer. The order book as of February 15, even though lower than at the
beginning of 2001, is record for starting an uneven year, highlighting our
strong competitive position and the successful investments in the past. We
remain optimistic about the long term growth drivers of EVS while our short to
medium term visibility remains limited as usual. 2013 shall not benefit from
such big sporting events but our continued investments in innovation and
expansion pave the way for positioning the company for the future".
Corporate Calendar:
Thursday May 16, 2013Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 1Q13 earnings
Tuesday May 21, 2013Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Ordinary General Meeting
Tuesday May 28, 2013Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Final dividend: ex-date
Thursday August 29, 2013Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 2Q13 earnings
Thursday November 14, 2013Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 3Q13 earnings
-------------------------------------------------------------------------------
For more information, please contact:
Joop JANSSEN, Managing Director & CEO
Jacques GALLOY, Director & CFO
Geoffroy d'OULTREMONT, Vice President  Investor Relations & Corporate
Communication
EVS Broadcast Equipment S.A., Liege Science Park, 16 rue du Bois Saint-Jean,
B-4102 Seraing, Belgium
Tel: +32 4 361 70 14. E-mail: corpcom@evs.tv; www.evs.com
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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
EVS provides its customers with reliable and innovative technology to enable
the production of live, enriched video programming, allowing them to work more
efficiently and boost their revenue streams. Its industry-leading broadcast
and media production systems are used by broadcasters, production companies,
post-production facilities, film studios, content owners and archive libraries
around the globe. It spans four key markets - Sports, Entertainment, News and
Media.
Founded in 1994, its innovative Live Slow Motion system revolutionised live
broadcasting. Its reliable and integrated tapeless solutions, based around its
market-leading XT server range, are now widely used to deliver live
productions worldwide. Today, it continues to develop practical innovations,
such as its C-Cast second-screen delivery platform, to help customers maximise
the value of their media content.
The company is headquartered in Belgium and has offices in Europe, the Middle
East, Asia and North America. Approximately 465 EVS professionals from 20
offices are selling its branded products in over 100 countries, and provide
customer support globally. EVS is a public company traded on Euronext
Brussels: EVS, ISIN: BE0003820371. For more information, please visit
www.evs.com.
dcinex, of which EVS owns 41.3%, is the European leader for Digital Cinema
technology and services in Europe with more than 5,500 committed digital
screens in Europe, out of which 3,700 have already been deployed.
www.dcinex.com.
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Press release in pdf format:
http://hugin.info/133958/R/1679814/548657.pdf
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originality of the information contained therein.
Source: EVS Broadcast Equipment via Thomson Reuters ONE
[HUG#1679814]