Evs Broadcast Equipment Sa · EURONEXT:EVS
Evs Broadcast Equipment Sa — Q1 2013 Earnings Presentation
27 slides from Evs Broadcast Equipment Sa's earnings presentation, May 16, 2013
Slide 1: EVS Broadcast Equipment 1Q13 results
EVS Broadcast Equipment 1Q13 results May 16, 2013 Joop JANSSEN, Managing Director & CEO Jacques GALLOY, Director & CFO Geoffroy d’OULTREMONT, VP Investor Relations and Corporate Communication www.evs.com
Slide 2: Forward Looking Information
2 FORWARD LOOKING INFORMATION The statements made in this presentation that are not historical facts contain forward forward- looking information that involves risks and uncertainties. All statements, other than statements of historical fact, which address EVS Group’s (“EVS”, “dcinex” or the “Compan
Slide 3: Highlights
3 HIGHLIGHTS Solid 1Q13 sales and profit Costs under control, control flat headcount over 1Q13 Good feed-back feed back from NAB Repositioning plan in progress as expected Guidance confirmed even if weaker America’s America s
Slide 4: Agenda
4 AGENDA Financial update Business update 2013 outlook Corporate update
Slide 5: Highlights 1Q13
HIGHLIGHTS 1Q13 1Q13 results: - EUR 32.8 m revenue :+9.2% vs. 1Q12 - Sports: +19.3%, ENM : -22.5%, +9.2% - Record APAC quarter, even+50% Sales growth - Gross margin of 79.2%, 79 2% EBIT margin of 44.0% 44 0% - EPS 0.75, +15.2% vs EUR 0.65 in 1Q12 Order book: 44.0% - EUR 32.8 million at May 10 (-26.8
Slide 6: Quarterly revenue split by segments
6 QUARTERLY REVENUE SPLIT BY SEGMENTS EUR million 42.8 39.5 33.2 32.8 30.2 29.8 30 6 30.6 30.1 26.9 25.6 22.7 23.4 19.6 20.5 20.9 18.1 18.4 XT3 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2009 2010 2011 2012 2013
Slide 7: Geographical split
GEOGRAPHICAL SPLIT Record 1Q13 performance in APAC EUR million Americas EMEA APAC 23.5 18.8 19.5 17.4 7 17.6 17.7 17 16.7 15.1 12.7 13.9 14.0 14.2 11.4 9.1 9.5 9.5 7.8 8.4 79 7.9 8.6 10.2 6.7 6.8 6.9 5.4 6.1 7.2 5.6 6.7 6.8 4.7 6.3 6.2 6.6 6.0 4.6 4.6 4.1 3.5 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 1
Slide 8: 1Q13: Revenue up by 9.2%
8 1Q13: REVENUE UP BY 9.2% Reported In millions of EUR 1Q12 4Q12 1Q13 REVENUE 30.0 30 0 25.6 25 6 32.8 32 8 Cost of sales (6.7) (8.4) (6.8) 79 2% 79.2% Gross margin 23.3 17.2 26.0 High gross margin Gross margin % 77.6% 67.3% 79.2% S&A (4 4) (4.4) (3 9) (3.9) (5 6) (5.6) R&D - gross (5.3) (6.8) (6.0)
Slide 9: 1Q13 EBIT margin at 44.0%
1Q13 EBIT margin at 44.0% Gross margin G i iimpactt ffrom sales l 44.0% 45.1% 2.7 1.1 leverage 0.7 0.0 SG&A and R&D up p mainlyy because of additional headcounts in 2012 13.6 Headcount generally under control 14.5
Slide 10: Limited staff growth: +2 people in 1Q13
LIMITED STAFF GROWTH: + 2 PEOPLE IN 1Q13 51% in innovation (R&D) Headcount evolution at March 31, 2013 500 465 In FTEs 450 Net +37 FTEs in 12 months (+8.6%), 400 but only +2 FTEs (net) in 1Q13 350 300 Still 20+ open positions 250 200 Investment in - Innovation: 50% R&D - Expansion: 34% sales & ops S
Slide 11: Strong balance sheet
11 STRONG BALANCE SHEET EUR 37.0 million cash In millions of EUR Dec 2012 March 2013 EUR 37.0 million ASSETS Goodwill and intangibles 1.6 1.4 cash Lands buildings and other tangibles Lands, 21 1 21.1 24 0 24.0 dcinex and Mecalec at equity 8.5 9.1 Inventories 15.9 15.5 EUR 2.64 per share (gross) Rece
Slide 12: Dcinex contribution to EVS Group
DCINEX CONTRIBUTION TO EVS GROUP Lower sales sue to seasonal effect, high EBITDA margin 1Q13 key financials In thousands of EUR 1Q12 1Q13 #1 in Europe (35% mkt share) REVENUE 22,170 19,852 -10 10.5% 5% sales in 1Q13 EBITDA 4,909 5,994 Stronger VPF sales EBITDA margin 22.1% 30.2% Lower direct
Slide 13: Agenda
13 AGENDA Financial update Business update 2013 outlook Corporate update
Slide 14: Update on new strategy and organization
14 UPDATE ON NEW STRATEGY AND ORGANIZATION Goes according to our plan Four new markets are in p place and starting g to put p in p place their strategy gy Very good feedback from the market and customers New organization deployment in progress Reallocation of some people between departments to refle
Slide 15: NAB key highlights
15 NAB Key highlights Global attendance: 92,000 visitors (flat vs last yyear), 1,600 exhibitors EVS booth visitors: +9% (including visitors from more than 1,400 companies)) 4K and second screen solutions as main industry-wide i d t id topics t i
Slide 16: EVS key highlights – more than 10 launches
16 EVS KEY HIGHLIGHTS – MORE THAN 10 LAUNCHES 4K - IMF - XDCAM Main product launches - LSMConnect - Powerful content and playlist management tool on tablets – perfect complement ot the LSM Remote - centralized access point for monitoring all cameras of the live production in one interface - XDCAM -
Slide 17: Key recent wins: Dutch Eredivisie Live
17 KEY RECENT WINS Dutch Eredivisie Live Challenge - More efficient and quicker way of producing and distributing live content on multiple screen - Improve program quality with a new HD live infrastructure - Enable a more interactive viewer experience Sports S t 360° solution l ti - Ultra-reliable i
Slide 18: Key recent wins: Télé-Québec
18 KEY RECENT WINS Télé-Québec Télé Québec Challenge - Increase the flexibility of 3 main studios for third party operations - Reduce operational costs of production Solution: Tele-Quebec studios equipped with - XT/XS series servers with full multi-codec support - IPDirector for media management and
Slide 19: Key recent wins: Tapeless transition at ABC
19 KEY RECENT WINS Tapeless transition at ABC in Australia ABC, public broadcaster in Australia, ABC Australia moves to a tapeless solution for its facilities in Sydney and Melbourne EVS solution based on - XS servers (mix of SD and HD) - IPDirector content management suite - SAN solutions Upgrades
Slide 20: Agenda
20 AGENDA Financial update Business update 2013 outlook Corporate update
Slide 21: Spring order book at May 10, 2013
SPRING ORDER BOOK AT MAY 10, 2013 -26.8% excl. big events rentals Good order diversity Markets 53.8 Strong APAC 9.0 Stable EMEA -26.8% Weak Americas 39.8 34.2 32.8 Order book for 43.2% ENM 6.6 event rentals 6.1 for 2014 and beyond: beyond 21.0 23.3 Orderbook O d b k 44.8 May 10, excl. + EUR 10.1 m i
Slide 22: Outlook 2013
22 OUTLOOK 2013 Order book of EUR 32.8 million - -26.8% excl. the big event rentals, but record for an odd year Sports Leadership - Low visibility 2013 uneven year ENM - No big sporting events Challenger - Opex increase by low double digit growth rate - Lower EBIT% margins Services - New products re
Slide 23: Agenda
23 AGENDA Financial update Business update 2013 outlook Corporate update
Slide 24: Corporate calendar
24 CORPORATE CALENDAR Tuesdayy Mayy 21,, 2013 Ordinaryy General Meeting g Tuesday May 28, 2013 Final dividend: ex-date Thursday May 30 30, 2013 Final dividend: record date Friday May 31, 2013 Final dividend: payment date Thursday Th d A August 29 29, 2013 2Q13 earnings i Thursday November 14, 2013 3
Slide 25: EVS shareholding as of March 31, 2013
EVS SHAREHOLDING AS OF MARCH 31,, 2013 * M. Counson; 6.5% March 31, 2013 stock data: 4 1% ** - Basis B i : 13,625,000 13 625 000 ordinary di shares h BNP Paribas; P ib 4.1% Fidelity; 3.0%** - Outstanding warrants : 422,450 @38.56 Other 9% Ameriprise; 4.0% ** - Treasury shares : 156,503 shares UK 25%
Slide 26: Conclusions: Transformation year
26 CONCLUSIONS Transformation year Solid 1Q13 sales and profit 2 64 (80% payout Gross dividend of EUR 2.64 payout, 5 6% dividend yield) * 5.6% Strong global order book of EUR 32 32.8 8 million Current low visibility for 2013 without big sporting events * Dividend yield is calculated using the averag
Slide 27: Our journey to Rio2016
27 OUR JOURNEY TO RIO2016
EVS Broadcast Equipment — Q1 2013 Earnings Presentation on 6ix