Publication on
Regulated and inside information – Business update 3Q22
EVS Q3 2022 business update
Liège,
Strong commercial performance continues to fuel growth
Record order intake and secured sales continue to confirm the growth path of the company.
Highlights
- The order intake confirms the growth trajectory of EVS. Even excluding the Big Tech 2022 contract, the growth is of +39,0% (BER not taken into account). In addition, the order intake for 2022 is strong across all regions.
- Big Tech contract 2022, a landmark in the history of EVS, signed in
August 2022 . - Our secured revenue* allows us to upgrade our revenue guidance for 2022 to a range of
EUR 145 million toEUR 150 million , representing the high-end of the guidance previously communicated ofEUR 140 – 150 million. - The OPEX guidance remains unchanged, with a growth projected between 12-15%
*secured revenue includes the already recognized revenue as well as open orders on hand that will be recognized as revenue in 2022
Comments
“ I’m happy to say our Q3 achievements are confirming our revenue growth expectations for the full year 2022. As we have been able to further increase our order intake and solve most of our supply chain challenges this year, I’m confident to upgrade our revenue guidance to a range of
With the signature of our largest contract ever, we are proud to say that we have added a new milestone in the history of EVS. This “Big Tech Contract 2022” covers a 10-year contract worth over
The positive and encouraging feedback we received from our customers and channel partners during our IBC trade show participation in
I’m particularly proud to say that our CSR efforts have translated into a first important recognition. EVS has been awarded a Silver medal for its sustainability performance from
Overall, I continue to feel cautiously optimistic about our future. While economic market conditions remain very challenging with high inflation, supply chain challenges and with the war in
Commenting on the results and the outlook,
“We continue our growth path, with strong order intake and revenue results, both being major drivers supporting our future potential. Our secured revenue position reinforces our ability to realize growth in 2022. As a consequence, we upgrade our revenue guidance for 2022 to a range of
In
Operating expenditure evolves in line with our expectations, demonstrating an increase compared to last year following the inflation and cost of energy. As such, we do reiterate our guidance of full year OPEX growth in a range of 12-15%.”
EVS Market Dynamics and customer wins
The same trends still apply for 3Q22 in general as for the first semester for what concerns the market pillars with continuous modernization of LAB and upgrade of Live Service Providers equipment. The appetite for LiveCeption, MediaCeption and MediaInfra solutions continues, feeding the order book.
The Big Tech contract 22 is obviously a major achievement as a proof point of confidence in the sustainability of EVS innovation. It’s also an important evolution showing that Live Service Providers are willing to engage in long term service level agreements. It finally brings higher predictability in terms of EVS revenues.
After a successful NAB in April, EVS had the pleasure to present the new range of solutions “in real life” at IBC in September with a strong presence of key customers from EMEA and APAC.
EVS has also been preparing the major sport event in
The frictions between the electronic supply chain and the delivery of products are under control for the rest of the year.
Outlook
The 2022 secured revenue on
- Secured revenue excluding Big Event Rental of
EUR 127,4 million versusEUR 111,9 million at the same date last year, a growth of +13,9%. - Secured revenue for the Big Tech 2022 contract of
EUR 6,6 million . - Secured revenue for Big Event Rental of
EUR 9,2 million , including a major international sport event happening in 4Q22.
Thanks to the strong secured revenue, we are able to upgrade our full year revenue guidance to a range of
The order book for 2023 and beyond is demonstrating a substantial growth of +216%, also boosted by our Big Tech 2022 contract of over
The gross margin evolution is demonstrating a decline as a result of a change in the solution mix. Any impact of rising costs of components are reflected in the price increases modeled and announced in 2022.
Operational expenses continue to be closely monitored: inflation and increasing energy prices require us to be vigilant. We reconfirm our guidance of full year OPEX growth in a range of 12-15%.
Interim dividend
The Board of Directors has decided to pay an interim dividend of
This interim dividend fits in the overall dividend policy for 2022. We reiterate the full year 2022 dividend expectations*,**:
In € per share per fiscal year | 2022 |
Base dividend | 1,10 |
Exceptional additional dividend | 0,50 |
Total dividend | 1,60 |
*subject to market conditions
**subject to the approval of the Ordinary General Meeting of Shareholders
Corporate Calendar
For more information, please contact:
Veerle DE WIT
Tel: +32 4 361 70 00 | E-mail: corpcom@evs.com | Website: www.evs.com
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 is globally recognized as the leader in live video technology for broadcast and new media productions. Our passion and purpose are to help our clients craft immersive stories that trigger the best return on emotion. Through a wide range of products and solutions, we deliver the most gripping live sports images, buzzing entertainment shows and breaking news content to billions of viewers every day – and in real-time.
The company is headquartered in
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