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EVS Broadcast Equipment (EBR:EVS) Publication on November 13, 2008, before market opening Regulated information - Quarterly Management Report
* Record 3Q08 revenue of EUR 37.2 million, +52.9% vs. 3Q07 (+56.8% at constant exchange rate), thanks to strong traction from big sporting events (including EUR 6.9 million rentals) * Europe up 83.5%, Asia & Pacific up 35.1%, America up 23.5% (35.4% at constant exchange rate) compared to 3Q07 * EBIT margin of 66.1% for 3Q08 and 65.7% for 9M08 * Autumn order book of EUR 9.0 million, down 62.6% vs 2007, mainly due to the usual post-olympic phenomenon combined with overall industry slow-down * Studio represents 40.6% of that order book to be invoiced in 2008 * As expected, 2008 to be a double-digit growth year * Payment of a EUR 1.00 gross interim dividend per share, up 25%, end November * 2009 to be a transition year
Liège (Belgium), November 13, 2008, EVS Broadcast Equipment S.A. (Euronext Brussels: EVS.BR, Bloomberg: EVS BB, Reuters: EVSB.BR) (Pinksheets: EVBEF), the leader in Professional Digital Video applications for Live, Near-Live and Studio TV Production, today reported its results for the third quarter ("3Q08") and the first nine months ("9M08") of 2008.
Key highlights
Pierre L'Hoest, CEO of EVS said: "2008 is the best year so far for EVS. Not only our business reaches new heights but our products and our service teams have demonstrated their strengths and flexibility, especially around Beijing 2008, that has been the biggest TV production ever. We are currently accelerating the development of new solutions and products to improve the workflow of our customers. In 2009, 2010 and beyond, EVS shall continue to benefit from the structural long term growth drivers like tapeless transition, higher TV production efficiency requirements, high definition and more diversified TV sports."
Commenting on the results and perspectives, Jacques Galloy, CFO added: "In this third quarter, both sales and profit were at a record level, positively impacted by the EUR 6.9 million rental agreements relating to the Beijing Olympics. As a consequence and despite the weaker order book, we confirm our double-digit growth year for 2008. Next year is an odd year without any major sporting event and shall be a transition year. Whether the economic downturn might affect our business over time will depend on the depth and length of the downturn. Typically, our sports driven business, which represents most of our revenue has been somewhat resistant to economic downturns but fluctuates according to specific sport event patterns while the company is continuously gaining market shares in the TV Studio production market."
(unaudited) IFRS - EUR millions, (unaudited) except earnings per share 3Q08 3Q07 3Q08/3Q07 expressed in EUR 9M08 9M07 9M08/9M07 37.2 24.4 +52.9% Revenue 97.0 67.5 +43.7% 24.6 15.8 +55.9% Operating profit - EBIT 63.7 43.5 +46.4% 66.1% 64.9% +129ppt Operating margin - EBIT 65.7% 64.5% +122ppt % -0.7 -0.7 -7.6% Contribution from 47.2% -2.1 -1.7 +21.9% XDC affiliate 16.4 9.9 +66.0% Net profit - Group share 43.3 28.0 +54.7% Net profit from 17.2 10.7 +60.5% operations, excl. XDC - 46.2 30.6 +50.9% Group share (1) 1.21 0.73 +66.0% Basic earnings per share 3.19 2.06 +54.8% Basic earnings per share 1.26 0.79 +60.5% from operations, excl. 3.40 2.25 +50.9% XDC (1)
(1) The net profit from operations, excl. XDC, is the net profit (share of the group) excluding non operating items (net of tax) and the XDC contribution. Refer to Annex 6.3: use of non-GAAP financial measures.
Corporate Calendar: Monday November 17, 2008 Ex-date of the interim dividend coupon #7 Monday November 24, 2008 Pay date for the interim dividend coupon #7 Friday November 28, 2008 EGM relating to the merger by absorption of Dwesab by EVS Wednesday December 24, 2008 Postponed EGM relating to the merger by absorption of Dwesab by EVS Thursday February 19, 2009 FY2008 revenue & earnings Thursday May 14, 2009 1Q09 revenue & earnings Tuesday May 19, 2009 Ordinary Shareholders Meeting
For more information, please contact: Jacques GALLOY, Director & CFO Geoffroy d'OULTREMONT, Investor Relations & Corporate Communications Manager EVS Broadcast Equipment S.A., Liege Science Park, 16 rue du Bois Saint-Jean, B-4102 Ougrée (Liège), Belgium Tel: +32 4 361 70 14. - Fax: + 32 4 361 70 89 - E-mail: corpcom@evs.tv; www.evs-global.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 Group EVS Group designs, develops and markets professional digital equipment for Television (EVS Broadcast) and Cinema (XDC). The Group employs over 240 persons for broadcast equipment in 12 countries and sells its products to professionals of the video and audio sectors in more than 90 countries. EVS is a public company traded on Euronext Brussels: EVS, ISIN: BE0003820371. For more information, refer to www.evs-global.com EVS Broadcast is the world leader for Live TV Production Digital Disk Recorders and Related Software Applications, especially in the field of sports. The company's dedicated hardware and software suite offer a complete production platform: live slow motion (LSM), high speed slow motion, replay only, clips generation, quick clips editing, real-time SD/HD video files transfer, time delay, multi-camera recording, metadata association, graphics storage and play-out, digital transmission, multi-format ingest and play-back, audio record & edit, webcasting, mobile phone clipping. Main software applications like the "IP Director®" are running on the dedicated robust and flexible hardware the "XT[2]® Platform". The world's leading broadcasters, such as NBC, BSkyB, FOX, RTBF, RTL, NHK, CANAL+, ABC, ESPN, TF1, CCTV, PBS, CBS, BBC, ZDF, Channel7, RAI, TVE, NEP, MEDIAPRO, EUROMEDIA, BEXEL, ALFACAM and many others use EVS' solutions. EVS 47,2% affiliate XDC is pioneering Digital Cinema Logistics and Play-out and operates between the movies distributors and exhibitors. XDC has installed more than 280 digital screens throughout the world in China, Germany, Sweden, Brazil, the United States, France, Belgium, etc.
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