Evs Broadcast Equipment Sa · EURONEXT:EVS
Evs Broadcast Equipment Sa — H1 2022 Earnings Presentation
29 slides from Evs Broadcast Equipment Sa's earnings presentation, Aug 25, 2022
Slide 1: EVS Broadcast Equipment – 2022/1H Results
EVS BROADCAST EQUIPMENT – 2022/1H RESULTS August 25th, 2022 Corporate Communication
Slide 2: Disclaimer
DISCLAIMER Forward Looking Statements This presentation contains forward-looking statements with respect to the business, financial condition, and results of operations of EVS and its affiliates. These statements are based on the current expectations or beliefs of EVS's management and are subject to
Slide 3: Agenda
/// AGENDA /// Agenda ⁄ Business Update ⁄ Financial Update ⁄ Outlook ⁄ Conclusions ⁄ Questions & Answers
Slide 4: 2022/H1 Highlights: Revenue & Order Book at Record High
4 2022/H1 HIGHLIGHTS REVENUE & ORDER BOOK AT RECORD HIGH REVENUES EBIT EO1H ORDER BOOK EO1H NET CASH 1H21 : 61,8MEUR 1H21 : 15,4MEUR 1H21 : 67,9MEUR 1H21 : 41,8MEUR 1H22 : 67,7MEUR (+10%) 1H22 : 15,7MEUR (+2%) 1H22 : 91,1MEUR (+34%) 1H22 : 44,2MEUR (+6%) ⁄ SOLID CUSTOMER INVESTMENTS
Slide 5: EVS as Value Company: Increased Guidance and Dividend Policy
5 EVS AS VALUE COMPANY INCREASED GUIDANCE AND DIVIDEND POLICY • Company’s fundaments allow for an increase in the guidance: Initial guidance Upgraded guidance 125 – 140 Mio€ 140-150 Mio€ This upgraded revenue guidance underpins the growth trajectory EVS is on. • EVS announced its renewed dividend po
Slide 6: 2022 – Again New Products Used for Big Winter Events
6 2022 – AGAIN NEW PRODUCTS USED FOR BIG WINTER EVENTS ⁄ First event in the winter earlier this year EUROPE WIDE TOURNAMENT IN 2021 FOR LEADING SPORT FEDERATION • We delivered the promise again introducing new products despite the Covid challenge ⁄ Next event in the next winter, later this year • Te
Slide 7: Last Months Evolutions & Actions Contributing to EVS Evolution Journey
7 LAST 12 MONTHS EVOLUTIONS & ACTIONS CONTRIBUTING TO EVS EVOLUTION JOURNEY FROM A 2015 COMPANY… Success of Axon integration proven by contracts & figures … TO A 2025 GROUP Solutions appreciated by customers & partners PRODUCT MARKET LEADER Key references won for new solutions SOLUTION MARKET
Slide 8: Combining Products to Create the Perfect Solutions
COMBINING PRODUCTS TO CREATE THE PERFECT SOLUTIONS LiveCeption MediaCeption MediaInfra Live production, replays and Production asset management Routing and infrastructure highlights solutions that solutions for fast and easy solutions to control and elevate the fan experience content turnaround proc
Slide 9: Yet Another NAB Award for Neuron
9 YET ANOTHER NAB AWARD FOR NEURON PROVING CONTINUOUS INNOVATION AT EVS NAB 2022 Strada Neuron PROTECT is designed to fully protect broadcast networks from single points of failure, using intelligent, redundant, isolated (automatic) change overs.
Slide 10: EVS Back in Trade Shows While Continuing Remote Interactions
10 EVS BACK IN TRADE SHOWS WHILE CONTINUING REMOTE INTERACTIONS WITH CUSTOMERS EVS back in the trade shows Continue with remote interactions New tradeshow setup … EVS Webinar Studio … focused on conversations based on EVS equipment &
Slide 11: Main Risks: Scarcity of Electronic Components & Rising Inflation
11 MAIN RISKS SCARCITY OF ELECTRONIC COMPONENTS & RISING INFLATION EVS tightly manages the inventory of EVS closely follows inflation due to: electronic components to ensure the cost inflation delivery of the so-demanded EVS continued price increase of products & solutions with a decent dela
Slide 12: EVS Financial Update
EVS FINANCIAL UPDATE ⁄ 1H22 FINANCIAL HIGHLIGHTS ⁄ 1H22 REVENUES ⁄ GEOGRAPHICAL SPLIT ⁄ REVENUE DESTINATION SPLIT ⁄ CONSOLIDATED INCOME STATEMENT ⁄ IAS 38 APPLICATION FOR R&D DEVELOPMENTS ⁄ TEAM MEMBERS ⁄ STRONG BALANCE SHEET
Slide 13: 1H22 Financial Highlights
13 1H22 FINANCIAL HIGHLIGHTS RECORD ORDER INTAKE & REVENUE ⁄ 1H22 Order Intake: EUR 88,7 million • Continued strong order intake, growth excluding BER is at 30,8% YoY (+17,3% YoY) ⁄ 1H22 Revenue: EUR 67,7 million • LSP main driver of growth (+33%) benefiting from large upgrade and transformation (+1
Slide 14: 1H22 Revenue
14 1H22 REVENUE Best 1H performance in a decade, thanks to 64,9 66,6 67,7 Back-orders end of 2021 62,6 61,8 51,7 Continued strong OI in 2022 47,4 44,1 41,0 Big Events Rentals 39,6 1H13 1H14 1H15 1H16 1H17 1H18 1H19 1H20 1H21 1H22
Slide 15: Reminder: Market Pillar Definitions
15 REMINDER MARKET PILLAR DEFINITIONS ⁄ LIVE AUDIENCE BUSINESS (LAB) Revenue from customers leveraging Broadcasters, Stadium, House of Worship, Corporate Media EVS products and solutions to create Centers, Sports organizations, Government & institutions, content for their own purpose University & Co
Slide 16: 1H22 Revenue by Market Pillars
1H22 REVENUE BY MARKET PILLARS ⁄ LAB market pillar performing in line with expectations, though declining, in comparison to a very strong 1H21. LAB business is a project related business with revenue recognition spread in time. EVS is working on important new milestones, as to consolidate future gro
Slide 17: 1H22 Revenue by Region
1H22 REVENUE BY REGION NALA (USD) 28,1 EMEA 31,8 ⁄ NALA performance boosted 28,7 by important contracts as 18,9 15,3 18,3 18,2 well as a strong USD. MUSD 14,3 MEUR 16,3 11,1 ⁄ EMEA declining in revenue, 1H18 1H19 1H20 1H21 1H22 1H18 1H19 1H20 1H21 1H22 but building on a strong APAC BER order intake
Slide 18: 1H22 Secured Sales and Order Book
18 1H22 SECURED SALES AND ORDER BOOK SECURED SALES @ ST AND LT ORDER BOOK 1H22 VS LAST YEAR (MIO€) Secured sales at end of 1H22 (MIO€) 126,4 growing 28% (37% excl. BER) 9,5 98,5 +28% 58,7 Order book continues strong 3,8 +60% 13,0 growth, with more long-term 36,7 31,2 +3% 32,2 engagements (SLA’s)
Slide 19: Consolidated Income Statement
19 CONSOLIDATED INCOME STATEMENT ⁄ Revenue performance growing +9,5% YoY, with revenue excl. BER growing at 8,3% In millions of EUR 1H21 1H22 YoY Revenue 61.779 67.672 9,5% ⁄ Gross margin remains solid at 67,7%, though declining -1,2Pts in Cost of sales 19.220 21.841 13,6% comparison to 1H21. The co
Slide 20: IAS-38
20 IAS-38 EVS applies for the first time the IAS 38 guidance with regard to some specific R&D spending. In order to comply with the guidance around intangible assets, the following elements have been documented and demonstrated (and accepted by EY): ⁄ An intangible asset is created following the dev
Slide 21: Team Members Evolution: Strong Hiring to Support Our Growth
21 TEAM MEMBERS EVOLUTION STRONG HIRING TO SUPPORT OUR GROWTH AND PREPARE FUTURE SOLUTIONS 2017 1Q 2017 2Q 2017 3Q 650 FTE Count evolution (end of quarter) 2017 4Q 2018 1Q 2018 2Q 2018 3Q 2018 4Q 2019 1Q 600 550 500 450 594 547 550 552 551 571 532 543 542 400 482 493 508 497 492 480 479 477 468 457
Slide 22: Strong Balance Sheet: Net Cash Position at 44,2Mio€
22 STRONG BALANCE SHEET NET CASH POSITION AT 44,2MIO€ ⁄ EVS continues to have a strong balance sheet with net cash position of EUR 44.2 million with low debt level (of which EUR 13.4 million related to IFRS 16) resulting in a total equity representing 74.6% of the total balance sheet as of the end o
Slide 23: Increase of Working Capital
23 INCREASE OF WORKING CAPITAL ⁄ Operating working capital is at 63,8 MEUR (+17% versus YE21) ⁄ The working capital is increasing over the past quarters as a consequence of: − Higher inventories (+3Mio€): a pro-active measure to limit the impacts of the shortage in the components market on our suppl
Slide 24: Outlook & Guidance 2022
24 OUTLOOK & GUIDANCE 2022 All fundaments support an upgraded guidance. 2022 financial outlook • Secured revenue for 2022 at end of June is at 126,4 Mio€ (YoY growth of 29%) • Order book is at a record-high: EUR 54,9 Mio€ to be recognized in revenue in 2022 (+70% YoY and excl Big Event Rentals)
Slide 25: Next Focus & Conclusions
NEXT FOCUS & CONCLUSIONS ⁄ NEXT FOCUS - KEY ACTIVITIES FOR 2022 ⁄ CONCLUSION
Slide 26: Next Focus - Key Activities for 2022
26 NEXT FOCUS - KEY ACTIVITIES FOR 2022 ⁄ Deliver the large multi-years modernization projects that we have won ⁄ Promote existing solutions and continue to enhance the workflows through new solutions ⁄ Continue to expand EVS solutions offering, organically, through acquisitions and strategic partne
Slide 27: Conclusion
27 CONCLUSION ⁄ Record high revenues & order book • Major event delivered successfully last winter • Growth of orders and revenues for LSP • Decrease of LAB revenues based on the mix of projects and impact of revenue recognition over lifecycle of the project ⁄ EVS evolution based on PLAYForward stra
Slide 28: Questions & Answers
QUESTIONS & ANSWERS
Slide 29: Thank You
29 THANK YOU To learn more about EVS go to www.evs.com Search for EVS Broadcast Equipment on contact – corpcom@evs.com
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