Publication on February 16, 2017, before market opening
Regulated information - Press release annual results
EVS Broadcast Equipment S.A.: Euronext Brussels (EVS.BR), Bloomberg (EVS BB), Reuters (EVSB.BR)
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FY16 highlights
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Revenue of EUR 130.8 million, +1.7% compared to FY15 (excl. event rentals and at constant currency)
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Operating expenses under control (+0.3% compared to FY15)
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EBIT margin of 35.3% (34.3% EBIT margin excluding the impact of other income)
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Net profit of EUR 32.8 million, EPS of EUR 2.43
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4Q16 highlights
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Revenue of EUR 27.0 million -37.3% compared to a record 4Q15 (excl. event rentals and at constant currency)
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EBIT margin of 24.0%
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Net Profit of EUR 4.9 million, EPS of EUR 0.36
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Outlook
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Order book of EUR 36.2 million on February 15, 2017 (to be invoiced in 2017)
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-15.4% vs last year, excl. big event rentals
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Additional EUR 17.6 million orders to be invoiced in 2018 and beyond, including EUR 8.2 million of big events rentals
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KEY FIGURES
| Unaudited | EUR millions, except earnings per share expressed in EUR | Audited | ||||
| 4Q16 | 4Q15 | 4Q16/4Q15 | FY16 | FY15 | FY16/FY15 | |
| 27.0 | 42.9 | -36.9% | Revenue | 130.8 | 118.5 | +10.4% |
| 19.1 | 31.7 | -39.7% | Gross margin | 97.2 | 84.2 | +15.3% |
| 70.8% | 74.0% | - | Gross margin % | 74.3% | 71.1% | - |
| 6.5 | 18.0 | -64.1% | Operating profit - EBIT | 46.2 | 32.6 | +41.4% |
| 24.0% | 42.1% | - | Operating margin - EBIT % | 35.3% | 27.6% | - |
| 4.9 | 13.4 | -63.8% | Net profit (Group share) | 32.8 | 23.7 | +38.4% |
| 0.36 | 1.00 | -63.8% | Basic earnings per share (Group share) | 2.43 | 1.76 | +38.3% |
COMMENTS
"2016 was a strong year for our company, both in terms of projects (including our key role during the big sporting events) and financial performance. We successfully launched the XT4K server and got some major references for our Dyvi live production switcher. The leadership of the company has been strengthened with new experienced senior executives and it provides a solid foundation to build our future. In 2017, we will continue working on new growth initiatives as well as on improvement measures to speed up our development processes", said Muriel De Lathouwer, CEO of EVS.
Commenting on the results and prospects, Yvan Absil, CFO, said: "Combining high revenue of EUR 130.8 million and stable operating expenses compared to last year led to a solid operating margin of 35.3% in 2016. Obviously, 2016 included EUR 12.1 million of big event rentals, which will not take place in 2017. With respect to 2017, at this stage, our visibility on the top-line is low."
Conference call
EVS will hold a conference call in English today at 2.00 pm CET for financial analysts and institutional investors. Other interested parties may join the call in a listen-only mode. The presentation used during the conference call will be available shortly before the call on the EVS website.
Dial-in numbers: +44 (0)20 7162 0077 (United Kingdom), +32 (0)2 290 14 07 (Belgium), +1 646 851 2407 (United States)
Conference call ID: 961335