EVS Broadcast Equipment SA · EURONEXT:EVS
EVS Broadcast Equipment SA — Q1 2008 Earnings Presentation
15 slides from EVS Broadcast Equipment SA's earnings presentation, May 2008
Slide 1: 1Q08 Earnings
1Q08 Earnings May 2008 Pierre L’Hoest, CEO Jacques Galloy, CFO Geoffroy d’Oultremont, IRO www.evs-global.com www.evs-global.com 1 Forward Looking Information The statements made in this presentation that are not historical facts contain forward-looking information that involves risks and uncertainti
Slide 2: Agenda
Agenda Financials Business update Outlook Corporate www.evs-global.com 3 Agenda Financials Business update Outlook Corporate www.evs-global.com 4 2
Slide 3: EVS at a glance
* EVS at a glance Avg revenue growth 94-07 : +38% « Speed To Air » Strategy Revenue (EUR millions) 95 Leader in Outside Broadcast/slow motion EBIT Margin (%) 85 Challenger in Near-Live Studio production 67% 65% 58% 62% Hardware, software, service 52 48% 42% 41% 46 188 staff, 800 customers and 5,000+
Slide 4: Strong 1Q08 revenue of EUR 25.4 million
Strong 1Q08 revenue of EUR 25.4 million 27.2 24.4 25.4 24.1 23.3 Quarter Big Events Rentals 21.9 19.7 20.1 19.9 Launch Quarter Revenue 19.0 [IP] Director V5.5 16.6 16.4 Launch [IP] Director Launch V1.0 11.9 XT[2] 9.8 9.4 8.6 8.5 8.7 8.7 8.1 7.8 6.9 7.3 7.3 6.2 02 02 02 02 03 03 03 03 04 04 04 04 05
Slide 5: US dollar impact; FY07 Net Profit of EUR 39.5 million
US dollar impact NALA revenue Q1: -3% at constant exchange rate 12.8 11.1 10.4 10.4 10.0 9.5 8.6 8.2 8.1 7.9 7.5 7.0 7.0 6.7 6.7 5.8 5.6 5.8 5.7 5.3 5.2 4.7 4.6 4.9 4.7 3.7 3.6 3.7 3.0 3.2 2.8 2.6 2.5 2.1 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2004 2005 2006 2007 2008 NALA revenue (EUR)
Slide 6: Efficient natural and financial hedging
Efficient natural and financial hedging 1Q08 Revenue lower by EUR 1 million but stable net profit (+0.1m) Q1 EUR millions, IFRS, at constant exchange rate 1Q07 1Q08 1Q08 Var 4% lower sales Reported Reported @Const $ 1Q08 and U$ competitors Revenues 19.9 25.4 26.4 -1.0 Gross margin 87.0% 88.1% 87.3%
Slide 7: XDC contribution of EUR -0.8 million to EVS Group over 1Q08
Official partner for 2008 Cannes 18 digital auditoriums managed by XDC Leading EU deployment # 1 in Europe 300 screens New Mgt team G3 & 3D deployment Ongoing negotiations www.evs-global.com 13 Contribution of EUR -0.8 million to EVS Group over 1Q08 1Q08 Income Statement Leading EU deployment XDC 10
Slide 8: EVS strong balance sheet
EVS strong balance sheet RoE 80%; Dividend yield ~3.5% EUR millions 31 Dec 2007 31 Mar 2008 Cash 35.5 45.5 Current assets 15.4 20.2 DSO ~55 days Inventories 5.6 7.1 Incl R&D & Demo’s XDC at equity + bond 7.2 6.4 XDC at equity + bond Non current assets 11.3 11.7 TOTAL ASSETS 75.0 90.9 Dividend payabl
Slide 9: NAB 2008 (Mid April, Las Vegas)
NAB 2008 (Mid April, Las Vegas) More than 30% visitors increase on EVS booth Attendance Evolution % NAB -5% EVS +30% www.evs-global.com 17 Open format policy EVS key partnerships to expand in near-live studio market www.evs-global.com 9
Slide 10: 2008: another big sport year
2008: another big sport year ents en b y sport ev effect driv snowball 2004 2005 2006 2007 2008 2010 2012 2014 Big events = major innovation milestones = HDTV marketing boost to consumers EVS Technology exposure (& direct rentals) www.evs-global.com 19 A long term partnership 2008 milestone: EVS dig
Slide 11: Zoom on split production at ZBC
Zoom on split production at “ZBC” EVS Media Server showcases future generic tapeless studio Video Metadata In Beijing 20:00 At “ZBC HQ” 12:00 ZBC sport center BOB Host O Venue Central ne in ~40 feeds Server t ls ZBC HD g Host ig o min Logging na Inc l Inc ~1 o min 5 ZBC News gf eed ZBC s Logging ZBC
Slide 12: HD: One way forward
HD: One way forward HD grows faster in production than in distribution United States Europe 1Q08 1Q08 100% 100% % HD Ready Sets in US 40% % HD Ready Sets in EU 20% 90% % HD TV signals in US 22% % HD TV signals in EU 3% 90% % US Trucks in HD 45% % EU Trucks in HD 15% 80% 80% 70% 70% n 60% tio 60% uc
Slide 13: Guidance 2008
Guidance 2008 Limited visibility and U$ evolution ? EVS TV Sales Growth year In EUR millions 95 Sales EPS Studio Production 85 Euro 2008 (Q2) Outside Broadcast Beijing 2008 (Q3) 52 7-29 Jun 08 More HD 46 Expand 34 28 27 30 Recruit 17 Open offices 8-24 Aug 08 New products 1999 2000 2001 2002 2003 200
Slide 14: May 20's General Meeting
May 20’s General Meeting Find detailed invitation & proxy on our website www.evs-global.com OGM Annual Report 2007 Final Gross dividend EUR 1.48: ex-date May 27 Employee profit sharing plan (~6k EVS shares) Renewal Board Member: J.Galloy EGM Renewal own shares buy-back programme Should be called up
Slide 15: EVS share price in May 2008
EVS share price in May 2008 Huge volume on May 15, no real impact on a two week period 80.00 450,000 400,000 350,000 70.00 300,000 69.65 67.12 68.16 65.85 67.00 250,000 65.87 64.90 65.42 64.86 65.10 200,000 62.25 60.90 60.00 150,000 100,000 50,000 50.00 0 2-May 5-May 6-May 7-May 8-May 9-May 12-May 1
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