EVS Annual Report 2023

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EVS Annual Report 2023

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CEO Serge Van Herck reflects on a new record-breaking year marked by profitable and sustainable growth, increased customer satisfaction and higher team member engagement, as well as a reinforced commitment to ESG principles.

Read the full interview to delve deeper into these accomplishments.

CEO interview

Serge Van Herck / CEO

CEO Serge Van Herck reflects on a new record-breaking year marked by profitable and sustainable growth, increased customer satisfaction and higher team member engagement, as well as a reinforced commitment to ESG principles.

Read the full interview to delve deeper into these accomplishments.

How do you evaluate the overall performance of EVS throughout 2023?

First of all, I am proud to announce that we successfully achieved our goals of further delivering profitable and sustainable growth. Thanks to our new record revenues and diligent cost control measures, we found ourselves in a strong financial position, even in a year without Big Event Rental revenues linked to certain major international sporting events. Beyond these financial milestones, our success was also demonstrated by the strong increase in our customer Net Promoter Score (NPS), as highlighted in the recent Big Broadcast Survey by Devoncroft. Additionally, the outcomes of our latest team member survey revealed strong commitment and high confidence levels in our company's future. The vear was also marked by industry recognition with numerous awards, especially related to technology innovation and ESG, demonstrating the strides we have been taking in pioneering a sustainable industry. Last but not least, our shareholders have seen EVS' market valuation increasing by nearly 30% in 2023, reaching a new 5-year high.

What were the main focal points of EVS’ strategy in the past year?

Our commitment to innovation and customer satisfaction remained at the forefront of our profitable and sustainable growth strategy, and we have seen strong affirmation of this at the latest 2023 IBC event in Amsterdam. The feedback we received from our customers, our channel partners and EVS operators on our solution offering and innovations, including the launch of MediaCeption VIA MAP® and our generative artificial intelligence powered live video effects, such as XtraMotion, has been overwhelmingly positive. Our focus on our Live Audience business segment, LAB, delivered significant order intake growth, highlighting our expanding market share in broadcast studio environments. The Media Infrastructure solution segment also played a pivotal role in driving order intake growth across all regions, with anticipated contributions to Big Event Rental revenues in 2024.

Another primary focus throughout the year was protecting the profitability of our solutions while dealing with inflation and component shortages. The sourcing of components remained an issue, leading us to make the strategic decision to extend our delivery terms, now spanning 20 weeks.

This not only allowed us to navigate the uncertainties in the supply chain but also provided us with enhanced visibility and planning capabilities. Another challenging endeavor was the launch of EVA, our new Enterprise Resource Planning (ERP) system. With its successful implementation we find ourselves well positioned to further elevate our service standards, streamline operational processes, and respond with increased efficiency to the dynamic needs of our customers on a worldwide scale.

ESG is an integral part of your strategy at EVS. Can you highlight some key achievements and outline the next steps?

ESG has become intrinsic to every part of our business, extending beyond carbon footprint reduction to encompass the well-being of our team members, their attraction and retention, our customer experience, cybersecurity, our local social engagement and much more. We have received several awards and obtained strong results in sustainability ratings. Looking ahead, we remain dedicated to elevating our commitment to ESG across our organization, with the active engagement of each team member central to our strategy. Rather than delegating to a dedicated department, we have an ESG core team made up of talented individuals from every department. They are focused on some very clear targets we have set ourselves for 2030, aligning with our commitment to pave the way for a future that is sustainable and beneficial for generations to come.

What steps is EVS taking to remain at the forefront of the rapidly evolving landscape of live production?

Being proactive in understanding our customers' needs is crucial as we continue to strengthen our leading position in the industry. Our objective is to empower customers to produce live content more efficiently and with superior quality, assisting them in addressing industry transformation challenges. This includes navigating shifts like the move from SDI to IP, the upgrade from HD to UHD, and supporting the adoption of cloud technologies through our Balanced Computing approach. It’s also about leveraging the latest technologies such as generative AI to offer solutions that genuinely add value for our customers. The synergy and complementarity of our solutions are pivotal, creating an ecosystem that unlocks new possibilities for our customers.

What are you most looking forward to in 2024?

This year holds special significance as we mark our 30th anniversary. We look forward to celebrating this special milestone alongside those we consider to be extended friends and family, and who have supported us throughout this remarkable journey – our customers, our channel partners, our EVS operators and our own team members. Together, we will take part in numerous celebratory events that will serve not only to honor our illustrious history but also to strengthen relationships and envision a future where EVS continues to lead the live production industry.

We’re also anticipating our presence at the most prominent sporting events scheduled for 2024, focused on what we do best: creating emotions and lasting memories for billions of viewers all around the world.

Foreword of
EVS Chairman

Johan Deschuyffeleer / Chairman

Dear Shareholders,

I appreciate the opportunity of presenting our annual report for the fiscal year 2023. It is with pride that I reflect on the exceptional achievements of EVS throughout this record-breaking year. Our firm commitment to excellence, innovation, and customer satisfaction has propelled us to new heights.

I am delighted to announce that EVS has achieved unprecedented success in terms of revenue, surpassing all previous records. This achievement not only reaffirms our commitment to growth but also demonstrates the effectiveness of our strategic initiatives and the trust bestowed upon us by our valued clients and partners.

Our dedication to providing reliable and best-in-class solutions for live events continues to garner high praise from our clients. The unwavering reliability of our solutions has consistently ensured the success of our clients' live events, fostering long-term relationships and solidifying our position as a trusted industry leader.

Furthermore, EVS remains dedicated to delivering value to our shareholders. I am pleased to inform you that, despite the challenges faced by the global market, we have maintained our pledge to provide dividends and we have succeeded in creating sustainable profit. This pledge reflects our steadfast belief in creating enduring value for our shareholders.

I am immensely proud of our team, whose dedication and commitment have been instrumental to our success. The high level of involvement and passion exhibited by our team members has been a driving force behind our achievements. Their unwavering dedication to our mission and values is truly commendable.

As we move forward, we remain devoted to our pursuit of excellence, innovation, and sustainable growth. I extend my heartfelt gratitude to our shareholders, clients, and team members for their continuous support and commitment to EVS.

Thank you for your trust. Together, let us embrace the future with confidence and determination.

Sincerely,

Johan Deschuyffeleer - Chairman

International footprint

International footprint - map
  • Mexico, MX NALA

  • Burbank, LA, West Coast US NALA

  • Fairfield, US East Coast NALA

  • Madrid, ES EMEA

  • DEVELOPMENT CENTERSLiège, BE
    Brussels, BE
    Toulouse, FR
    Wokingham, UK
    Paris, FR
    Gilze, NL

  • Munich, DE EMEA

  • Brescia, IT EMEA

  • Wokingham, UK EMEA

  • Dubai, UAE EMEA

  • Beijing, CH APAC

  • Hong Kong APAC

  • Singapore APAC

  • Sydney, AU APAC

Our values

  • We are customer-success focused.
  • We value teamwork.
  • We are accountable.
  • We are passionate.
  • We aim for excellence.
  • We focus on innovation.
  • We are agile.

6 Development centers

  • Liège, BE
  • Brussels, BE
  • Toulouse, FR
  • Wokingham, UK
  • Paris, FR
  • Gilze, NL

Sales and customers service centers

NALA

  • Fairfield, US East Coast
  • Burbank, LA, West Coast US
  • Mexico, MX

EMEA

  • Liège, BE
  • Munich, DE
  • Dubai, UAE
  • Paris, FR
  • Madrid, ES
  • Brescia, IT
  • Gilze, NL
  • Wokingham, UK

APAC

  • Sydney, AU
  • Beijing, CH
  • Hong Kong
  • Singapore
  • 33
    Nationalities
  • 41.1
    EBIT 2023
  • Founded in
    1994
  • 642 Headcount
    EOY 2023
  • 173.2€ Revenue
    in 2023
  • Publicly traded since
    1998

EVS Strategy – towards a live production ecosystem

In 2019, EVS defined its PLAYForward transformation strategy to cope with the transformation of the industry: changing audience behaviors, adoption of IP & IT technologies and practices, greater flexibility and higher productivity required during live production, new video formats for input and output.

EVS Strategy
From replay centric leading products in premium market Optimized media leading solutions Live production ECOSYSTEM in multi-tier markets
CAPEX only More OPEX & On-demand
Mainly in OBVans Growing in broadcast centers
EVS Hardware + EVS Software + EVS SAAS
Mainly sports + Entertainment & news + Digital

BHAG and vision

PLAYForward: A sustainable, ambitious strategic plan for delivering long-term growth

In November 2019, under the drive of Serge Van Herck who had just been appointed as the new CEO of EVS, the new management team set about defining the outlines of their new strategic plan and long-term ambition. It was named PLAYForward, in reference to the market in which the company has been evolving since its creation in 1994. No less than 35 team members, representing the company's various departments and overseas offices, contributed to the development of this plan, which was finalized within less than 8 weeks and presented to the team members in January 2020.

Since 2012, EVS has experienced a plateau in its revenue generation and encountered challenges in discovering novel avenues for growth. While maintaining its leading position in core markets such as live replay in OB vans and production studios linked to live sports, the company had struggled to diversify its product and solution portfolio. Moreover, it has faced difficulties in pinpointing new business opportunities for expansion. The advent of digital technologies worldwide has accelerated since 2015, impacting the broadcast and media companies and prompting them to undergo significant transformations. These transformations involve expanding their live content offerings, accessible across various platforms, to meet the demands of an increasingly discerning and dynamic audience, as well as adapting to the rise of diverse streaming platforms.

Unleashing growth thanks to a collective vision and shared ambition

In the face of this turbulent environment, the PLAYForward program was established primarily aiming to unite all team members around a shared ambition.

When a company is going through exponential growth such as that experienced by EVS from the early 2000s to 2012, decisions are increasingly made opportunistically with limited focus on creating an environment that fosters scalable and sustainable growth over the longer term," explains Serge Van Herck, CEO of EVS.

He stresses the need for a simple, unifying ambition that is understood by everyone in the company and the marketplace. Following a thorough analysis of strengths and weaknesses, it is undeniable that EVS' primary strength lies in its ability to provide customers with the most reliable and most efficient technological workflow solutions for producing, enriching, and delivering live audio-visual stories, be it in sports, news, or entertainment.

Producing a live program happens under a lot of stress and requires very specific skills and competences, both on the customers' side, where the programs are being produced live, and on our side, where the technology solutions are developed," emphasizes Alex Redfern, Chief Technology Officer.

With this in mind, the teams have swiftly positioned themselves with the clear and ambitious goal of EVS becoming the leading provider of live production solutions in the video and media market by 2030.

Understanding our own DNA, on which our growth strategy will be based

In crafting our growth strategy, we draw inspiration from the profound insights outlined in the book "Discipline of Market Leaders" by M. Treacy and F. Wiersema that describes various winning business strategies. At the heart of our approach lies the principle of 'customer intimacy,' a cornerstone highlighted as an alternative to ‘product leadership’ and ‘operational excellence’. We believe that comprehending our unique organizational DNA is pivotal to charting a successful trajectory. As Xavier Orri, Chief Experience Officer, eloquently puts it, "Customer intimacy is not just a strategy; it's our essence, embedded in every interaction, product, and service we offer. It's the very fabric of our commitment to understanding and fulfilling the diverse needs of our broadcast customers producing live content." Embracing our distinctive identity, we are poised to build a growth strategy that not only resonates with our organizational DNA but also places customer intimacy at the forefront of everything we do.

Expressing our fundamental purpose, our mission

The mission of EVS has to resonate as the company's very reason for existing, and live on in each and every one of its members, users, customers and partners. "We Create Return On Emotion" reflects the way in which EVS solutions enable unique moments of emotion to be delivered to billions of viewers around the world, every day, and on all types of screens.

Our EVS teams work hard every day to enable production, direction, technical and operating teams to transform every moment captured live as video into a moment of emotion conveyed through every story told live." highlights Nicolas Bourdon, Chief Marketing Officer.

Building our future offering with BluePrint Live

The PLAYForward plan should ultimately lead the organization to define the outlines of its strategic vision, the image of the value proposition to be built together in order to achieve the ambition of growth. This vision, called EVS BluePrint, defines the live ecosystem in which live stories are created, managed and distributed, and is addressed through different platforms and tools to the players present in the live production value chain, be they creative, production, technical or engineering teams.

The EVS BluePrint highlights the importance of creating cohesive and integrated production environments, of pooling production resources and technical infrastructures, of dynamically and automatically dealing with management and creation processes (notably via AI), and of managing all instances together, whether they be local, central or in the cloud", notes Alex Redfern, Chief Technology Officer.

The BluePrint picture enabled us to rapidly identify our gaps, and to make strategic choices about how to address them. In May 2020, armed with our BluePrint, we made the decision to make our largest acquisition ever by integrating Axon Technologies, now operating under the EVS MediaInfra banner, bringing together all our IP processing, monitoring and routing solutions", adds Serge Van Herck, Chief Executive Officer.

Bringing together 30 years of experience, sharing and emotion to build the future: "Together for Live".

On the eve of its 30th anniversary EVS is more ready than ever to take up the many challenges associated with technological, economic and societal changes. Over the past 4 years the company has learned to reposition itself as a solid brand in the broadcast and media market, building its growth strategy on strong values, combined with a vision of solid sustainable growth for all its teams, users and partners. EVS has demonstrated its willingness to be constantly attentive to its customers, involving them in strategic transformation and co-development projects.

We exist to delight premium live story tellers by delivering them an ecosystem combining live tools, production management applications, flexible infrastructure, implementation and channel partners, related services and operational resources to empower them to create, manage and deliver stories in a faster and better way.

Today, we are extremely confident in the future we have built up over the past 4 years around our PLAYForward program, which has enabled us to align all our teams, customers, partners and users around a common project. Our results over the last 3 years confirm that we have made the right choices and reinforce our determination to stay on course, while constantly adjusting the sails that will enable us to continue gaining in efficiency and speed. We are celebrating the 30th anniversary of EVS with serenity and gratitude to all the team members who make this adventure a success every day. "We take pride in unveiling our 30-year EVS tagline, 'Together For Live,' echoing the resounding support for our shared vision", concludes Serge Van Herck.

We are EVS

We create return
on emotion

The broadcast and media technology company EVS was founded in 1994. Headquartered in Liège, Belgium, the company has a global presence with over 600 team members working in 20-plus offices around the world. In its early years EVS was known for its pioneering work in tapeless television technology, including the launch of the Live Slow-Motion (LSM) system, which rapidly became the standard replay technology for all broadcast sporting events worldwide.

Who we are

As a globally recognized leader in live video technology for broadcast and media productions, our passion and purpose are to help our customers craft compelling stories that elicit the highest emotional response. We strive to deliver the best possible solutions to our customers through our cutting-edge technologies and customer-focused teams, thereby ensuring that they can create engaging and impactful content. We take pride in our industry-leading position and remain committed to driving innovation and excellence in all that we do.

What we deliver

Our technology is used by customers worldwide to deliver live sports images, entertainment shows and breaking news content to billions of viewers in real time. Through our innovative solutions we enable our customers to engage and captivate their audiences with high-quality and impactful content. We are proud to play a key role in bringing some of the most exciting and engaging moments in sports, entertainment, and news to audiences all over the world.

Customer success

EVS has become a key player in the live production industry, offering reliable and innovative technologies and providing first-class support to customers located around the world. Our focus on customer success has allowed us to remain at the forefront of the industry, and we are committed to helping our clients grow as the industry evolves. To deliver on this promise we have continued to invest in the latest technologies, including our pioneering work in IP, artificial intelligence, multiple video resolutions and Cloud-based implementation. Through these efforts we have remained ahead of the curve and have empowered our customers with smart, reliable and scalable solutions that enable them to produce the best live stories today and in the future.

FOUNDED IN 1994

600+ team members

20+ offices

HQ in Liège, Belgium

Customers’ successes

Throughout 2023, EVS continued its tradition of global success across all market segments thanks to its three main solutions: LiveCeption, MediaCeption, and MediaInfra. At this point we would like to highlight a select few successes from the numerous orders received that exemplify EVS’ strong market position.

Videocraft and Cloudbass Invest in Cutting-Edge Solutions

Two leading entities in the broadcast industry, Videocraft and Cloudbass, recently made substantial investments in EVS’ advanced live production solutions, showcasing a shared commitment to enhancing content quality and production efficiency. Videocraft’s adoption of EVS’ LiveCeption solution signifies its dedication to upgrading live production offerings, including the next-generation XT-VIA live production servers, LSM-VIA remote control units, and the MediaCeption production asset management suite. James Taylor, Director at Videocraft, expressed confidence in EVS’ market-leading solutions, stating, “Videocraft has had a long relationship with EVS, and when we looked to the next generation of production technology solutions, we found EVS’ market leading solutions and support to be the best choice in enabling our clients to deliver the most immersive viewer experiences.” Similarly, Steve Knee, Managing Director of Cloudbass, praised EVS for its reliability and customer support, affirming that “EVS is, without doubt, the leading manufacturer in this sector.”

EVS Enhances Oman TV Studios

EVS further demonstrated its prowess by deploying the MediaCeption Signature solution for the Oman Ministry of Information’s TV studios, facilitated by United Broadcast and Media Solutions. This end-to-end live production asset management system includes server, network, and hyper-convergence infrastructure (virtualization), meeting Oman TV’s need for interoperability and space optimization. Mahmoud Mirza Albalushi, Project Manager of the Oman TV site in Muscat, praised EVS’ MediaCeption solution for enabling swift access and management of live production assets, enhancing operational efficiency.

Mediapro Adopts EVS Technology for Event Coverage

Mediapro Group, a prominent broadcast production services provider, selected EVS’ LiveCeption solution and MediaInfra Strada for constructing IP-based Fly-Away kits to cover live events. This strategic deployment underscores Mediapro’s commitment to leveraging cutting-edge technology, including Cerebrum, Neuron, and the new MultiViewer, to enhance production capabilities.

Key Factors Driving EVS’ Success

EVS’ success can be attributed to several key factors, as highlighted by client surveys. These include customer intimacy, reliability, support services, product reputation, innovation, native IP integration, ease of use, and long-term confidence in EVS.

In summary, EVS’ achievements in 2023 exemplify its commitment to innovation, customer satisfaction, and excellence in providing solutions that meet the evolving needs of broadcasters globally.

NPS for Evaluating Customer Satisfaction

In the domain of customer success at EVS, we employ the Net Promoter Score (NPS) as a pivotal metric to gauge the satisfaction and advocacy our customers hold for our brand. In the recently concluded 2023 evaluation, conducted independently by Devoncroft Partners, our NPS proudly stands at an impressive 42.3. That is 40% higher than in 2022 (NPS of 30.2) and over 240% higher than in 2021 (NPS of 12.4). This robust and increasing score serves as a testament to the strengths of our customer relationships, reflecting the unwavering commitment to excellence that defines EVS.

This external validation affirms the trust and satisfaction our customers consistently experience with EVS. It also highlights our dedication to the core tenets of customer success, reinforcing our position as a reliable partner in meeting their needs and expectations.

Looking ahead to 2024, our aspiration is to sustain this positive momentum by maintaining our NPS at 30, or above. We also have the ambition of placing EVS within the top 25% of our industry, showcasing our ongoing commitment to delivering exceptional customer experiences and solidifying our standing as a leader in the market. As we embark on the upcoming year, we remain steadfast in our pursuit of excellence, ensuring that every interaction with EVS leaves a lasting and positive impression on our valued customers.

Our Operators

Our Commitment to Customer Intimacy and Enhanced User Experience

Our journey of growth commenced three decades ago with a dedicated focus on empowering users to convey compelling narratives and deliver captivating images effortlessly. As a technology-driven company, we furnish the tools that empower a global community of live production professionals, facilitating the discovery, narration, and enhancement of storylines for live events and shows. At EVS the passion for our industry, and the people who operate our technology on a daily basis, continues to fuel our growth and our successes; whether it be at a Broadcast Center site producing the daily news in Australia, a baseball playoff match in Arizona, USA, or a tennis championship series in Paris, our EVS team members are everywhere, supporting our community of users and engineers.

...Globally connected users

EVS boasts a widespread global presence, with our products and solutions influencing many productions daily. These productions encompass a myriad of shades and perspectives of the users themselves, representing the diversity of our community at large. We actively cultivate and celebrate the unique qualities of our community members — be it their viewpoints, cultural backgrounds, or diverse upbringings, which collectively contribute to a rich collaborative environment. Our commitment to growth is exemplified through initiatives such as our partnership with the HBS Broadcast Academy, in which EVS provides educational systems and staff to simulate real world learning about the production industry. Through these initiatives, we activated a new partnership with the Concacaf W series in partnership with Always (Proctor and Gamble) to encourage more women to pursue careers in our industry of sport and live production. Irrespective of the country, or upbringing, we extend our support to every local community of operators, recognizing the strength that these differences bring to both our company and the broader industry.

Our community of EVS operators is dynamic, with members actively supporting each other’s success. Through digitally-connected platforms, global meet-ups, and personal networks, they collaborate and share experiences. Our EVS Ambassador program represents one of the examples of how we connect our leading users in the industry to enable learning, and coordinate a peer-to-peer activity of our users. By activating these top voices, and connecting them with active users, EVS is fostering the continued growth of our industry, we help to encourage new emerging professionals and advanced skillsets and continuous learning of our community.

Core of our customer intimacy success

In an ever-evolving market, our users and EVS operators constitute the core of our success. We closely align their needs with the foundational evolution of our products, solutions, and services. Our EVS team members immerse themselves in the production world, actively engaging with and observing our customers during live productions to harness their ideas and feedback. We maintain a ‘why?’ mindset in all that we do, encouraging continuous dialogue that enables us to better understand the inherent challenges faced by live production facilities and operations today. With hundreds of ideas collected each year, this approach allows us to connect our internal staff to the daily realities of our customers, enhancing the creative aspects of television. Building a Connected Community.

Every shade and every perspective

Our user community spans the globe, and we take pride in their ability to come together to produce innovative outcomes. Recent events, such as those covered by our customers at Fox Sports during the Super Bowl or the Women’s World Cup in Australia, serve as exemplary instances. While EVS technology serves as the enabler, it is the collaborative effort of engineers and users who bring these systems to life. From on-the-ground support by EVS operation members to the implementation of customized panel designs and system flows by design engineers, and the day-to-day operation by — it is the collective effort of our user community that ensures the system’s optimal performance.

EVS Channel Partners

Two years ago we launched a new Channel Partner program, and this report provides an overview of the achievements of our channel partner ecosystem, highlighting its pivotal role in our business success. Channel partners remain a cornerstone in expanding market reach, enhancing customer satisfaction, and driving revenue growth. This report delves into key accomplishments, challenges, and future strategies.

Aligned with our strategic vision, EVS is dedicated to identifying and onboarding channel partners that share our goals, aiming for 100% market reach. The EVS Sales Enablement team focuses on empowering partners with tailored tools, support, and incentives to drive success for both EVS and our partners. Channel Partner Managers in each region optimize communication, ensuring effective global promotion of EVS solutions.

Key Achievements

Success stories with partners such as QVEST, Diversified, and Magna Systems showcase groundbreaking projects, from cutting-edge IP systems to the first 4K IP OB Van in Southeast Asia. Channel partners played a pivotal role in securing significant project wins in the University and Stadium markets, as well as promoting SLAs (Service Level Agreement) to sustain growth.

Revenue Growth

In 2023 EVS experienced a substantial increase in business through indirect channels, marking a progression in total business volume. Notably, in the USA, indirect revenues more than doubled, reflecting the success of our strategy to engage more through channel partners.

Market Expansion

Channel partnerships facilitated market expansion beyond sports, enabling penetration into Corporate, House of Worship, News, and Government sectors. Media Infrastructure sales in the USA demonstrated a significant shift, constituting close to 30% of total revenues.

Partner Performance:

Recognition of top-performing partners based on KPIs such as sales volume, customer satisfaction, and market share underscores the value of our partnerships. Ongoing training and certification initiatives ensure partners have the tools and knowledge needed for effective representation.

Future Strategies

Future plans include geographical expansion, technology integration, and enhanced incentive programs. As the industry shifts towards IP, EVS focuses on closer collaboration with System Integrators capable of handling complex, multi-vendor projects.

This report encapsulates the success of the channel partner program, expressing gratitude for the dedication of our partners. EVS remains steadfast in fostering mutually beneficial relationships and looks forward to continued success in the years ahead.

Our solutions

A solution for every broadcast need

As we reflect on the past year, our commitment to innovation and customer value has driven transformative developments across our comprehensive suite of solutions. In alignment with our PLAYForward strategic growth initiative established in 2019, we have not only sustained but elevated our transition towards a solution-centric approach and the emergence of a premium live ecosystem.

LiveCeption

EVS Solution: LiveCeption

Live production, replays and highlights

MediaCeption

EVS Solution: MediaCeption

Content management for live productions

MediaInfra

EVS Solution: MediaInfra

Infrastructure management and processing

MediaHub®

EVS Solution: MediaHub

Web-based content exchange and distribution

PowerVision®

EVS Solution: PowerVision

VIA MAP®

EVS Solution: VIA MAP

Our Team Members

At EVS we firmly believe that our team members make the company successful. Their performance, their well-being, their knowledge and skills all have a direct impact on our reputation, our customer satisfaction and, ultimately, our financial performance.

Beyond the many benefits and opportunities we offer, we pride ourselves on successfully cultivating a corporate culture that team members are excited to remain part of. A culture where they are valued, innovation thrives and customer success is achieved." Pierre Matelart, Chief People Officer

Headcount

397 based
in HQ

  • HQ

285
of R&D

  • R&D

Distribution
per gender

  • Male
  • Female

tmNPS score

0

We hired

0

team members in 2023

Level of engagement

0%

EVS Skippers Team

The EVS Skippers Team was launched in 2020 at the initiative of the Leadership Team. This group, composed of the direct reports to the Leadership Team, was created to facilitate communication between the Leadership Team and the rest of the organization.

Towards the end of 2023 we decided to empower this group so as to become a cross-functional team that is the driving and transformational force we will use to reach our BHAG. EVS will continue to put this group of Team Members in the spotlight, to further empower them and attain our growth ambitions.

From left to right: Soumya Chandramouli, Michel Counson, Frédéric Vincent, Anne Cambier, Johan Deschuyffeleer (Chairman), Martin De Prycker, Chantal De Vrieze, Marco Miserez and Serge Van Herck (CEO).

EVS Board of Directors

The EVS Board of Directors establishes, guides, and oversees EVS strategic direction. Their responsibilities include strategic planning, risk management, executive compensation, and compliance. Comprising 9 highly qualified members with diverse expertise across various domains, the board convenes a minimum of six times annually to deliberate on these matters.

The EVS Board of Directors fulfills gender diversity criteria with the presence of three women on the board.

Diversity at Board level

EVS Leadership Team

The Leadership Team takes on the operational responsibility for EVS activities and acts under the supervision of the Board of Directors.

We firmly believe that a vibrant and energetic Leadership Team is key for the company’s growth and stability. This team, operating under the CEO’s supervision, consists of key leaders from diverse positions and regions.

From left to right: Serge Van Herck (CEO), Veerle De Wit (CFO), Xavier Orri (CXO), Pierre Matelart (CPO), Nicolas Bourdon (CMO), Quentin Grutman (CCO) and Alexander Redfern (CTO)*.

*Representing a SRL/BV

EVS Well Being

Well-being

EVS supports a culture of well-being that encompasses several pillars – physical, personal, financial, emotional, corporate culture and social health.

Our commitment to holistic well-being is not just a statement but a guiding principle that shapes every aspect of our organization.

At EVS our commitment to fostering a culture of well-being is built upon a robust framework encompassing multiple and essential themes. We are convinced that genuine well-being reaches far beyond just physical health; it reaches into the intricate tapestry of individuals’ lives. Our focus is on fostering multiple dimensions, guaranteeing a comprehensive and supportive atmosphere for everyone involved.

Physical Health

Whether it is through fitness programs, ergonomic workspaces, or access to healthcare resources, we strive to empower our team members to prioritize their physical well-being.

Personal Well-being

We encourage a supportive atmosphere where team members can pursue their passions, interests, and personal development. We value a positive work-life balance, providing opportunities for learning, and supporting personal aspirations.

Financial Stability

We believe that financial well-being is fundamental to overall wellness.

Emotional Resilience

We are committed to destigmatizing conversations around mental health, offering resources, counseling services, and creating a compassionate environment where team members feel comfortable seeking support when needed.

Corporate Culture

Our culture is defined by inclusivity, respect, and collaboration. We foster an environment where diverse perspectives are valued, where every voice is heard, and where mutual respect forms the bedrock of our interactions.

Social Health

We acknowledge the importance of social connections for well-being. Through community engagement programs, team-building activities, and initiatives that encourage camaraderie, we cultivate a sense of belonging and social support among our team members.

Together we are building a culture that prioritizes well-being—a culture that not only supports individual growth but also fosters a sense of belonging and collective success. At EVS well-being is not just a concept, it is the cornerstone of our ethos, driving us to create a nurturing and thriving environment for all.

Top employer

For the second consecutive year, we are proud to announce that we have been honored with the esteemed recognition of being named a 2024 Top Employer. This accolade stands as a testament to our unwavering commitment to fostering an exceptional workplace environment that prioritizes the well-being and growth of our invaluable team.

Top Employer - Logo

Building a Sustainable Future: Our Commitment to Progress

We are heading towards specific goals for 2030 in our determined effort to do better for the environment, society, and our business. We are focused on making sure our actions are responsible and good for people too, as we move towards a more thoughtful future. Our main focal point is on improving things for everyone, especially in ways that involve people themselves.

For the ‘People’ aspect of a sustainable future, our aspirations are deeply rooted in fostering a workplace culture that prioritizes team member well-being, growth, and satisfaction. We have set a bold target: to secure a position among the top 50% of Top Employers in Belgium by 2030. This goal underscores our unwavering dedication to creating an environment where every team member feels valued, supported, and empowered to thrive.

Moreover, in our endeavor to measure and enhance team member satisfaction, we proudly launched a Team Members Net Promoter Score (tmNPS) survey at the end of 2023. This survey will serve as a pivotal tool for understanding the sentiments and perspectives of our invaluable team members. It enables us to listen, learn, and adapt, to ensure that our workplace continually evolves into a space that nurtures growth and satisfaction.

With our longterm vision in mind, we have set a definitive benchmark for success: keeping a score of 30 or more in our Team Members NPS by the year 2030.

Our commitment to the ‘People’ aspect of sustainability goes beyond mere numbers, it encompasses a deep-rooted belief in the power of collaboration, empathy, and continuous improvement. By nurturing a workplace culture that values diversity, prioritizes well-being, and encourages professional development, we aim to not only meet but exceed the expectations of our team members.

Creating Value for our Shareholders

Creating value for shareholders is a fundamental goal of EVS: we continuously strive to provide an optimal return on investment.

Our value creation strategy evolves around the following topics:

Veerle De Wit, CFO

Securing profitable and sustainable growth requires a delicate balance: the brand must have substantial traction in the market, while the corporate level must maintain a relentless pursuit of excellence, continuously monitoring our trajectory to ensure we’re headed in the right direction. This is the reason we focus on the fundamentals of our company and get the right things right. Veerle De Wit, CFO

Sustainable and Profitable Growth

EVS aims to achieve growth in its topline performance. Growth in order intake, revenue, and backorder rates are important key performance indicators for our business. The goal is to grow organically, above and beyond the impact of Big Event Rentals. Our PLAYForward strategy helps us to ensure we capture this organic growth.

In addition to organic growth EVS also has a sound Mergers & Acquisitions (M&A) ambition; but the right acquisition is key, allowing us to expand our portfolio with our existing customer base. Whilst executing our M&A strategy our focus is on combining the strengths of EVS with a potential target organization, in order to ensure synergies which support future growth.

Improved Profit Margins

EVS systemically focusses on margin improvement for each of its solutions, so as to enhance the contribution of each one to our net profit. We already have processes in place to manage price increases, they proved their effectiveness again in 2023. Additionally, we closely monitor the profitability of our solutions: this is a cross-departmental quarterly exercise whereby we focus on clear business decisions. Business decisions include, but are not limited to, finding new ways of sourcing, designing, assembling and producing our solutions. The goal of all these initiatives is to optimize the absolute value of our gross margin.

Strong Dividends

EVS aims to deliver a steady dividend policy for its shareholders, thereby ensuring a direct financial return on their investment. The dividend policy is a careful balance between a direct return on investment and a return on capital used to fuel future growth.

Strategic Investments

Strategic investments are made with the goal of fueling future growth. As previously mentioned, EVS has a sound M&A strategy aiming to capture additional business from our existing customers. In addition to M&A, we can also decide to launch long-term development tracks (intangible assets). In both cases decisions will be made based on return on investment, ultimately leading to value creation for our shareholders.

Innovation, and Research & Development (R&D)

EVS continuously develops new features for its products and solutions. Such continuous development is required to stay ahead of the competition, by continuously innovating and bringing new and improved offerings to the market.

Environmental, Social, and Governance (ESG) Practices

Corporate sustainability is central to EVS’ strategy. We have a long-term commitment to the environment, our team members, and the communities in which we operate. We constantly practice and demonstrate this commitment through various initiatives that create an impact for the wider world.

A materiality matrix has helped EVS identify the challenges that are most important to us. Our actions largely evolve around the following themes:

Planet

  • Leadership Team member: Alex Redfern

    Customer's Carbon Footprint

    50% reduction in carbon footprint of our products per € sold (baseline 2021) - aligned with SBTi (unit: tCO2e/M€ revenue)

  • Leadership Team member: Veerle De Wit

    Company’s Carbon Footprint

    55% reduction in carbon footprint of our company per € sold (baseline 2021) - aligned with SBTi (unit: tCO2e/M€ revenue)

People

  • Leadership Team member: Pierre Matelart

    Talent Management & Diversity, Equity and Inclusion

    Be in the top 50% of Top Employers in Belgium

    Maintain an employee NPS of 30 or above

Communities

  • Leadership Team member: Nicolas Bourdon

    Customer Experience

    Achieve an NPS Devoncroft Score of 30 or above (in the “great” range) and be in the top 25% of our industry

    Local Social Contribution

    80% of Charity Days used

Governance

  • Leadership Team member: Veerle De Wit

    Cyber Security

    Maturity Level 2 of the CyberFundamentals Framework.

    Sustainable Supply Chain

    100% of our direct (High Risk & Medium Risk) suppliers rated by EcoVadis;

    50% of our direct (High Risk & Medium Risk) suppliers reach at least a bronze medal in EcoVadis

  • Leadership Team member: Quentin Grutman

    Business Ethics

    100% of employees trained on Code of Conduct

    100% of our direct (high and medium risk) suppliers accept and respect our Code of Conduct (or equivalent)

Our efforts in terms of sustainability are paying off: in 2023 we were awarded a silver medal from Ecovadis and we were rated as a “low risk” company by Sustainalytics. EVS was also recognized within the industry as being a leader in the subject of ESG when it received the IBC Corporate Star award.

Strong Corporate Governance

At EVS we strongly believe in doing the right things in the right way. As part of our PLAYForward strategy we have been focusing on putting some basics right, aiming to ensure the optimal efficiency of our company. Some examples of our efforts over the past years:

  • We have documented and structured our processes (Business Process Management) allowing us to grow and evolve from a solid base: when we implement changes we rapidly grasp the end-to-end impact on all team members involved. This allows us to continuously focus on improvements and optimize our way of working.
  • As a company we defined our Target Operating Model (TOM) in 2023: this model depicts the ideal way of working for our company, and allows us to prioritize changes within our operating model. This brings focus into the organization to drive change.
  • We have deployed a new ERP system on a worldwide scale, it puts our customers at the center and focuses on cross-departmental workflows.
  • We have structured the way we look at our business cases and the return on investment of projects and developments.
  • We have improved our way of managing growth and operational expenditures.

Effective Communication

EVS strives to keep shareholders and potential investors informed on a regular basis through transparent and direct communication about the company's performance, strategies, and future plans.

Our investor relations metrics demonstrate the increased activity of our interactions in comparison with the previous year.

Events

0

Chg vs Prev Yr 2

Firms

0

Chg vs Prev Yr 6

Contacts

0

Chg vs Prev Yr 6

Source: IR Insight Nasdaq Connect

EVS hosted its first Investor Day in November, the first in a considerable time. All shareholders were invited to the EVS HQ in Liège. The goal of the day was to explain our market and our strategy in greater detail; explain how we see the future and the realization of our Big Hairy and Audacious Goal (BHAG) of becoming the number 1 solution provider in the Live Production Industry.

Risk Management

EVS has designed an overall risk management framework since early 2022. The goal is to proactively identify the risks that are applicable to our company and our industry. We assess the impact of them on our business, and the probability of those risks occurring. Both parameters lead to an inherent risk assessment that allows us to focus on the risks that are most important for our company. We identify a mitigating action for each risk and we pro-actively monitor those actions in order to ensure protection of shareholder value and to avoid significant losses.

Team Member Engagement

Team members are the key asset of our company, and we are convinced that committed and motivated team members contribute to the overall success of a company. We run annual engagement surveys and quarterly Team Member Net Promoter Score assessments. In 2023 we were also awarded Top Employer in Belgium for the first time in our history.

Customer satisfaction

Customers are key to our success as a company, which is why we focus strongly on customer experience: satisfied customers are more likely to be repeat customers, and can contribute to positive word-of-mouth communication, enhancing the company's reputation and value.

Customer satisfaction within the broadcast industry is measured, on an annual basis, by Devoncroft Partners; who survey the market and publish a Net Promoter Score (NPS). This score defines how likely a customer or partner is to recommend the business to a friend or a colleague. A good NPS starts at zero, and a figure above 30 on the NPS is considered as being great.

In 2023, EVS obtained an NPS of 42.3, following an impressive evolution over the previous years. This testifies to our reputation and brand recognition within the market.

Source: Net Promoter Score, 2023 Big Broadcast Survey by Devoncroft Partners

Long-term Vision

It is important for us to demonstrate to our shareholders that we have a well-defined vision and a strategic plan for sustainable growth. EVS is a strong brand, known across the world for its technological leadership and its reliability in providing live video technology for broadcasters and new media production companies. Our passion and purpose are to help our customers craft compelling stories that trigger the highest return on emotions.

In 2023 we communicated extensively about our long-term ambitions and shared openly to the market our BHAG of becoming the number 1 solution provider in the Live Production Industry.

All these initiatives ensure we structure our decision-making process and we achieve the best return on investments.

In addition to getting the basics right, we have also implemented transparent and ethical business practices. We also want to ensure that these business practices are also spread to our suppliers and customers as part of our ESG ambition.

Shareholders’ Information

EVS Shares

EVS capital is represented by 14,327,024 shares without a nominal value.

Since December 15, 2011, EVS shares have been dematerialized (registered or book-entry shares). The securities in bearer form issued by the company, which would not have yet been registered on a securities account, have automatically been converted to book-entry securities as of that date.

Stock Market and Listing

EVS shares are listed on the continuous Euronext Brussels market under ISIN code BE0003820371.The first listing was in October 1998 at a price of EUR 7.44 (EUR 37.20 before split on June 5, 2005).

EVS is, amongst others, part of the Euronext BelMid and Euronext Tech Leaders indices. EVS is also eligible for the Equity Savings Plan in France (“plan PEA”) and for the Equity Savings plan for Small and Medium-Sized Enterprises in France (“plan PEA-PME”).

The maximum value reached by the stock price in 2023 was EUR 29.50 on December 27, and the minimum value of EUR 21.00 was recorded on July 10. On December 31, 2023, EVS had a market capitalization of EUR 413.3 million with a share price of EUR 28.85. The value of EVS shares rose by 29.7% in 2023.

EVS Engagement with the Market

EVS regularly engages with its shareholders and the market. We consider it an important mission to create transparency and clarity for our shareholders and the market. We spend time with the market to ensure they understand our environment and understand the dynamics of our company.

In 2023, EVS continued its effort to create transparency around the company strategy and the market potential. We continued our engagements with existing shareholders and reinvented the way we reach out to new investors. We also organized our first Investor Day in November 2023, expanding our efforts from the Analyst Day organized in 2022 to a broader audience.

EVS will continue its efforts to reach existing and new shareholders in 2024. A second Investor Day is planned for 2024 with the objective of also reaching private investors, in addition to institutional investors and analysts.

Dividends

EVS considers it important to provide our shareholders with long term perspectives with regard to return on their investment. In that framework, the dividend policy is an important angle of our overall shareholder engagement.

In 2018 the Board of Directors launched an initial multi-year dividend policy providing stable dividends during a three-year period from 2018 to 2021. The policy was renewed for 3 years at the beginning of 2022, providing new guidance for the years 2022 up till 2024.

In € per fiscal year, per share FY2022 FY2023 FY2024
Base dividend 1.10 1.10 1.10
Exceptional additional dividend 0.50 0.00 0.00
Total dividend 1.60 1.10 1.10

Generally, the dividend is paid in two parts: an interim dividend at the end of November and the final dividend in May, after the approval of the General Meeting.

For the year 2023 a total dividend of EUR 1.10 will be proposed at the Ordinary General Meeting of May 21, 2024. This proposed dividend for the year 2023 is in line with the guidance issued in 2022.

From the total EUR 1.10 dividend proposal, EUR 0.50 was already distributed as an interim dividend in November of 2023. If approved by the Ordinary General Meeting, the remaining gross dividend of EUR 0.60 will be paid on May 31, 2024, against coupon #36 (ex-date: May 29, 2024; record date: May 30, 2024).

Shareholding

Share composition (in%)

Shareholders have an obligation to report the percentage of EVS shares they hold when this percentage crosses the threshold of 3% in either direction (a condition imposed by the articles of association) and for any multiple of 5% (a requirement of the Companies Code).

The percentage of shares held must be calculated based on the number of shares outstanding (14,327,024 shares at end 2023).

As at December 31, 2023, the shareholding of EVS Broadcast Equipment was as shown in the chart below (based on recent statements received by the company and the treasury shares position as at December 31, 2023).

For more shareholding details please refer to the Statement of Corporate Governance in the second part of the annual report.

General Meetings

EVS holds its Ordinary General Meeting on the third Tuesday of May. Shareholders are invited to participate in this meeting. All instructions are published one month before the meeting.

To promote interaction between the company and its shareholders — and to know and serve them better — further to Article 24 of its articles of association, EVS requires proxies for participation in its General Meetings to be signed by the actual ultimate beneficial owner.

Proxies issued by a custodian or sub-custodian must therefore be accompanied by another power of attorney duly signed by the actual ultimate beneficial owner granting authorization to exercise their rights. In the interest of good governance, this provision is strictly applied and at each meeting results in a few non-compliant discharges of proxies, including those from stakeholders.

Financial Service

Dividends are payable at ING BANK SA, which is the sole paying agent in the Euroclear Belgium “E.S.E.S.” dematerialized system.

ING BANK SA
Avenue Marnix, 24
1000 Brussels
Belgium

Information Accessibility

The group website (www.evs.com) provides general information on the company and its products, as well as financial information, corporate governance rules and annual reports.

A special investor relations section provides dynamic views on our financial results and our sustainability data. It also contains stock related and dividend information.

All legal documents are available at the company’s head office or on its website.

EVS has adopted a “quiet period” policy, which limits communication with investors during sensitive periods to basic, historic and non-time-specific information. This quiet period begins one month before the publication of the earnings and continues until the earnings release date.

EVS appreciates the interest of its shareholders in the company, and believes that this policy enables the company to balance the needs of the business and the importance of communicating with both new and potential investors.

SHAREHOLDERS’ CALENDAR

  • May 16th, 2024: Q1 2024 results

  • May 21st, 2024: General Assembly

  • August 13th, 2024: H1 2024 results

  • November 14th, 2024: Q3 2024 results

€254,700

Liquidity – average daily volume on the stock market (EUR)

40%

Payout ratio
(% of basic EPS)

4.6%

Dividend Yield (%)

1.1€

Gross Dividend per Share after split (EUR)

10,677

Liquidity – average volume on the stock market (number of shares)

The Annual Report (management report, accounts and notes) is available on the EVS website (www.evs.com).

A paper copy can be obtained on request.

Version française disponible sur demande.

Contact

Veerle De Wit, CFO

EVS Broadcast Equipment SA

+32 4 361 70 00

corpcom@evs.com