EVS Broadcast Equipment

EVS Q1 2020 Business update

Publication on May 14, 2020, before market opening
Regulated information
EVS Broadcast Equipment S.A.: Euronext Brussels (EVS.BR), Bloomberg (EVS BB), Reuters (EVSB.BR)

EVS Q1 2020 Business update

>EVS global leader in live video technology for broadcast and new media productions today announces its business update for the first quarter ending 31 March 2020.

HIGHLIGHTS

o   Acquisition of Axon announced on May 1^st - synergies expected to bring 6-10mEUR additional EBITDA as of 2023
o   Covid-19  impacting significantly Live Service Providers which are preparing for compressed sport season
o   Traction for remote production workflows allowing EVS to promote several options
o   NAB trade show cancelled showing opportunities for remote interactive and personalized sessions with customers
o   Order book as of April 30th - excluding Axon - (including revenues YTD and open orders on hand that will be recognized as revenues in 2020) of EUR 39.6 million (excl big event rentals), vs. EUR 42.8 million at the same date last year. (-7.5% vs last year)
o   No revenue guidance given for 2020 amid covid-19 uncertainties
o   Confirmation of the Opex guidance, expected to decline slightly YoY (excluding extraordinary costs and Axon).

COMMENTS

Serge Van Herck, CEO comments the business development: “These special times are an opportunity to strengthen our engagement with our customers. Over the last weeks, there have been many interactions of different nature with customers, from personalized training to remote demos. We have reached out to many customers across the world to understand the impact of this crisis on their activities and to figure out the best individual way to help them now and after the crisis. It is also an opportunity to address different use cases of remote production workflows enabled by EVS products, allowing to facilitate the work of the operational teams. Most of our customers are very creative to take the best of our products and are doing an outstanding job considering the circumstances. We also took the opportunity to announce and explain our acquisition of Axon. I’m happy to say that I received a lot of positive feedback, confirming we are doing the right thing as framed in our PLAYForward strategy map. I am also very pleased with the passionate way both teams are working together on the integration process”