Evs Broadcast Equipment Sa · EURONEXT:EVS
Evs Broadcast Equipment Sa — Q1 2018 Earnings Presentation
21 slides from Evs Broadcast Equipment Sa's earnings presentation, May 17, 2018
Slide 1: Results Q1 2018
RESULTS Q1 2018 May 17, 2018 =V5
Slide 2: Agenda
AGENDA DP 1Q 2018 review » Business update » Outlook =V5
Slide 3: Highlights: Low 1Q18 revenue driving weak quarter
HIGHLIGHTS: LOW 1018 REVENUE DRIVING WEAK QUARTER 1Q18 KEY FIGURES [ REVENUES =~} OPEX 22.8m€ +11.5% (-6.9% YoY] vs 1017 __ 1018 REVENUES BY REGION (ext big events! EBIT 1.9ME (8.1% EBIT margin) EMEA =NALA = APAC EPS 0.16€ =V5
Slide 4: 0.6 3.9 21.8 8.2 13.6 18.6 0.2 1.0 0.0 0.7 1.7 12.4 10.7 7.2
0.6 3.9 21.8 8.2 13.6 18.6 0.2 1.0 0.0 0.7 1.7 12.4 10.7 7.2 14.9 11.8 13.5 7.1 4.2 11.6 8.9 8.9 21.0 22.2 20.6 17.0 16.5 17.4 16.6 13.1 15.1 13.5 14.0 12.7 9.7 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2015 2016 2017 2018
Slide 5: 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 1Q
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2015 2016 2017 2018 2015 2016 2017 2018
Slide 6: 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 1Q
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2015 2016 2017 2018 2015 2016 2017 2018
Slide 7: Consolidated Income Statement 1Q 2018
CONSOLIDATED INCOME STATEMENT 1Q 2018 d 2 -b6.9Y In millions of EUR 1Q18 1Q17 Revenue: -6.9% yoy REVENUE 22.8 5 » Gross margin: -8.8% yoy + Lower revenue Cost of sales -7.1 -7.3 Gross margin 15.7 17.2 » OPEX: +11.5% yoy + R&D +15.3%: +21 FTE yoy as planned Gross margin % 68.8% 70.3% + SG&A +7.7% yoy
Slide 8: FTE evolution and costs are under control
FTE EVOLUTION AND COSTS ARE UNDER CONTROL 508 FTE AT THE END OF MARCH 2018 550 500 450 400 350 300 66 415 Headcount evolution (FTE) 463 486 512 485 481 508 493 +15 FTE vs 31/12/2017 (mainly in R&D), as planned Recruitments should slow down again Average 501 FTE in 1Q18 Headcount 03/2018 (FTE) R&D
Slide 9: Strong cash position and seasonal movements
STRONG CASH POSITION AND SEASONAL MOVEMENTS Inmillions of EUR March 2018 Dec. 2017 > NET CASH POSITION: ASSETS syye Goodwill and intangibles 14 1A EUR 33.3 million Lands and buildings 45.4 45.8 Investments at equity 1.1 1.1 > INVENTORIES: Inventories 17.9 15.7 > Preparing for 2018 big events Receiva
Slide 10: Strong cash collection due to high 4Q17 sales
10 STRONG CASH COLLECTION DUE TO HIGH 4Q17 SALES CASH FLOW In millions of EUR 1Q18 1Q17 Net profit, group share 2.1 3.6 Cash generated from operations 10.5 8.7 Income taxes paid -0.2 -7.2 Net cash from operating activities 10.3 1.5 Net cash used in investing activities -0.3 -0.5 Net cash used in fin
Slide 11: Agenda
AGENDA DP 1Q 2018 review » Business update » Outlook =V5 1
Slide 12: EVS Vision
EVS VISION “Deliver the heart of live content production ecosystem” =VS5S
Slide 13: Modular micro-services
MODULAR MICRO-SERVICES FOR MAXIMUM CONSISTENCY AND RE-USE ACROSS PRODUCTS Ingest module User Interfaces Monitoring =V5
Slide 14: Artificial intelligence
ARTIFICIAL INTELLIGENCE FOR INCREASED PRODUCTIVITY Machine Learning rreccssses Engine =VS5S
Slide 15: Central API gateway & workflow engine
CENTRAL API GATEWAY & WORKFLOW ENFINE FOR BROADER & CUSTOMIZED SOLUTIONS oo BB NEW API GATEWAY FOR THIRD PARTY & CUSTOMIZED APPLICATIONS =VS5S
Slide 16: New foundation for all new EVS products
Slide 17: Boosted density
BOOSTED DENSITY 1M / 6CH UHD-4K (2160p) / +12 CHANNELS OF / +12 CHANNELS OF HD (720p/1 / HDR SUPPORT / NEW PROXY H.264 HDR [¥.264| UHD_M& 1080p =V5
Slide 18: Agenda
AGENDA DP 1Q 2018 review » Business update » Outlook =V5 18
Slide 19: Order book of EUR 32.3 million as of May 10, 2018
ORDER BOOK OF EUR 32.3 MILLION AS OF MAY 10, 2018 -9.0% [-27.8% EXCL. BIG EVENT RENTALS) 19 » Around 55% of the order book is expected to be booked in revenue in 2Q18 > 50% of the EUR 32.3 million order book is studio related 44.9 » Includes EUR 7.6 million rentals for big events 32.8 35.5 > For 201
Slide 20: 2018 Guidance
2018 GUIDANCE 20 D Revenue is expected to be between EUR 115 million to EUR 130 million — Soft start of the year - May 10 order book implies a soft 2Q18 — Increasing momentum around new products — XT-VIA should support sales in 2H18 » We expect opex to grow moderately compared to 2017, on top of the
Slide 21: Geoffroy d'Oultremont
Geoffroy d’Oultremont VP Investor Relations & Corporate Communications Corpcom@evs.com Tel: +32 4 361 70 14
EVS Broadcast Equipment — Q1 2018 Earnings Presentation on 6ix