Evs Broadcast Equipment Sa · EURONEXT:EVS
Evs Broadcast Equipment Sa — FY2013 Earnings Presentation
28 slides from Evs Broadcast Equipment Sa's earnings presentation, Feb 20, 2014
Slide 1: EVS Broadcast Equipment FY13 results
EVS Broadcast Equipment FY13 results February 20, 2014 Joop JANSSEN, Managing Director & CEO Magdalena BARON, 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 Strong 4Q13 (as expected), leading to a solid FY13 company performance APAC remained strong; Americas showed recovery in the second half Lower revenues and higher costs lead to 37.5% EBIT margin in FY13 Winter order book : record EUR 48.2 million (EUR 37.4 million in 2013) 2014: a speci
Slide 4: Agenda
4 AGENDA Financial update Business update 2014 outlook Annexes
Slide 5: Quarterly revenue split by market
5 QUARTERLY REVENUE SPLIT BY MARKET Quarter big events rentals ENM (excl. rentals) 42.8 Sport (excl. rentals) 39.5 38.5 33.2 32.8 30.2 31 0 31.0 29.8 29.8 30.1 28.0 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 2Q 3Q 4Q 2009 2010 2011 2012 2013
Slide 6: Geographical split: Americas and EMEA
6 GEOGRAPHICAL SPLIT Strong 4Q13 performance, particularly in the Americas %: FY13 vs FY12 variation, at constant exchange rate, excluding big events rentals Americas (excl. events) EMEA (excl. events) FY13 FY13 20.1 -5% -16% 17.7 17.6 17.4 15.5 15.8 16.7 16.3 12.7 14.3 14.8 15.0 13.4 14.0 14.2 11.0
Slide 7: Geographical split: Very strong APAC
7 GEOGRAPHICAL SPLIT Very strong APAC APAC (excl. Events) FY13 Big g event rentals +43% 11.2 10.2 8.6 7.7 6.2 7.2 6.8 6.5 6.4 7.0 60 6.0 62 6.2 65 6.5 4.4 4.5 4.6 3.5 4.1 3.5 3.5 2.0 2.4 2.2 2.0 0.3 0.5 0.4 0.5 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
Slide 8: 4Q13: Revenue up by 50.7%
8 4Q13: REVENUE UP BY 50.7% Reported In millions of EUR 4Q12 3Q13 4Q13 4Q13 REVENUE 25.6 25 6 28.0 28 0 38.5 38 5 Gross margin: Cost of sales (8.4) (7.4) (10.3) + higher sales Gross margin 17.2 20.5 28.2 + technical warranty provision Gross margin % 67.3% 73.4% 73.3% - reclassifications from R&D S&A
Slide 9: FY13: Revenue down by 6.4%
9 FY13: REVENUE DOWN BY 6.4% Revenue up by 1.3% at cst currency and excl. big event rentals In millions of EUR FY12 FY13 Actual FY REVENUE 137 9 137.9 129 1 129.1 Cost of sales (31.3) (31.6) Gross margin: Gross margin 106.6 97.5 - lower sales deleverage effect Gross margin % 77.3% 75.5% - reclass. f
Slide 10: FY13 EBIT margin at 37.5%, or EUR 48.4 million
10 FY13 EBIT margin at 37.5%, or EUR 48.4 million EBIT margin decrease is mainly due to deleveraging on lower sales 44 4% 44.4% 1.0 Gross margin impact mainly from 1.4 37.5% sales leverage and reclassification 91 9.1 1.6 2.1 0.4 61.2 Opex p impacted p byy 48.4 - Dyvi Live / SVS (fully consolidated m
Slide 11: Staff growth: +23 people in 2013
11 STAFF GROWTH: +23 PEOPLE IN 2013 (incl. 14 people in Dyvi Live / SVS) 49% in innovation (R&D) Headcount evolution at December 31, 2013 500 In FTEs 486 Net +23 FTEs in 12 months (+5.0%), ( ) 463 472 excl. Dyvi incl. 14 people in Dyvi Live / SVS 450 Live / SVS 415 400 350 Functional split: - Innova
Slide 12: Strong balance sheet
12 STRONG BALANCE SHEET EUR 11.8 million cash In millions of EUR Dec. 2012 Dec. 2013 Investments in the new HQ ASSETS reflected in: Goodwill and intangibles 1.6 2.1 - EUR 31.9 million in Lands and Lands, buildings and other tangibles Lands 21.1 21 1 33.7 33 7 B ildi Buildings dcinex and Mecalec at e
Slide 13: dcinex contribution to EVS Group
13 DCINEX CONTRIBUTION TO EVS GROUP Slightly higher sales due to seasonal effect, high EBITDA margin FY13 key k financials fi i l In thousands of EUR FY12 FY13 REVENUE 88,809 92,294 Top T player l iin E Europe EBITDA 23,795 31,363 +3.9% sales in FY13 EBITDA margin 26 8% 26.8% 34 0% 34.0% Net res
Slide 14: Agenda
14 AGENDA Financial update Business update 2014 outlook Annexes
Slide 15: Sochi 2014
15 SOCHI 2014 Biggest Winter Olympics, also for EVS 25 OB vans, 500 cameras, 200 EVS servers for live production in venues EVS involvement: multiple feeds recording, permanent storage, live logging, tape library system Complexity: lots of sports simultaneously New in Sochi: - Venues: - Mix zones: di
Slide 16: ENM growing structurally
16 ENM GROWING STRUCTURALLY Past investments in R&D resulting in stronger t growth th in i ENM ENM (excl (excl. rentals) 16.8 Some deals with more integration g of third party tools have an impact on EBIT margin 9.7 9.4 9.0 9.1 10.1 8.4 6.8 7.7 7.8 7.3 Potential in the US market 5.4 54 56 5.6 5.9 5.
Slide 17: C-Cast technology
17 C-CAST TECHNOLOGY How to leverage cloud for broadcast productions Expanding functionalities of C-Cast Increasing number of broadcasters RTL-Tvi using the technology: RTL Tvi (Belgium), Canal+ (France), Eredivisie (Netherlands), Sky (UK), etc World cup 2014 as another catalyst
Slide 18: Agenda
18 AGENDA Financial update Business update 2014 outlook Annexes
Slide 19: Global winter order book at February 15
19 GLOBAL WINTER ORDER BOOK AT FEBRUARY 15 EUR 48.2 million, including EUR 9.3 million relating to the big events EUR 48.2 million at Feb 15 to be 48.2 invoiced in 2014 46.1 - Good order diversity 3.4 37.4 9.3 - +4.0% yoy excluding big events - incl. EUR 9.3 million for big events (Sochi 32.4 Order
Slide 20: Outlook
20 OUTLOOK Consistent with November message Order book of EUR 48.2 million for 2014 - Includes EUR 9.3 million for big sporting events Sports S t Leadership Continued prudence regarding market conditions Continued investments in innovation (IP, Cloud) and organizational growth ENM g Challenger - Ope
Slide 21: Conclusions
21 CONCLUSIONS Strong g 4Q13, Q , in line with EVS expectations p FY13: record revenues in uneven year (+1.3% at cst currency, excl. big events) - Solid last quarter 41.3% EBIT margin despite continued investments in opex Winter order book of EUR 48.2 million - incl EUR 9.3m for 2014 big events rent
Slide 22: Agenda
22 AGENDA Financial update Business update 2014 outlook Annexes
Slide 23: EVS celebrates 20 years of memories
23 EVS CELEBRATES 20 YEARS OF MEMORIES Key milestones Februaryy 17,, 1994: Once upon p a time … 1996: Olympic games in Atlanta as a support of Panasonic Supermotion cameras 1998: listing on Euronext Brussels, World Cup, move to Liège Science Park 2001: launch of XT server, RTL news solution 2003: ne
Slide 24: EVS celebrates 20 years of memories: key figures
24 EVS CELEBRATES 20 YEARS OF MEMORIES Key figures 160 138 140 EBIT margin 129 Sales: 120 Big event rentals 111 111 107 100 ENM (excl. big event rentals) 95 Sports (excl. big event rentals) 85 80 76 60 52 46 34 62% 67% 65% 62% 40 36% 39% 28 27 30 58% 23 48% 49% 50% 41% 42% 41% 44% 15% 17 38% 20 11%
Slide 25: What has made EVS so unique?
25 EVS CELEBRATES 20 YEARS OF MEMORIES What has made EVS so unique ? Our keyy assets: - Engagement of EVS employees - Reliability of the solutions Headcount - FTE (31/12) * 486 463 - Service-minded attitude 415 366 - partnership between customers and EVS 276 - Continued innovation 233 188 167 134 11
Slide 26: Corporate calendar
26 CORPORATE CALENDAR April 7-10, 7-10 2014: NAB tradeshow (Las Vegas) Thursday May 15, 2014: 1Q14 earnings Tuesday May 20, 2014: Ordinary General Meeting Thursday August 28 28, 2014: 2Q14 earnings Tuesday November 18, 2014: 3Q14 earnings
Slide 27: EVS stock market data
EVS STOCK MARKET DATA Stock data (December 31, 2013): Shareholders (January 31, 2014) - B Basis:i 13,625,000 13 625 000 ordinary di shares h * M. Counson; 6.5% - Outstanding warrants : 420,000 @ 38.95 ** BNP Paribas; 4.2% - Treasury shares : 133,364 shares Ameriprise; 4.0%** ((no o sshare a e buybac
Slide 28: Our journey to Rio2016
28 OUR JOURNEY TO RIO2016
EVS Broadcast Equipment — FY2013 Earnings Presentation on 6ix