2022 FY results - EVS delivers record revenue and order intake

EVS delivers record revenue and order intake results

The results of 2022 are entirely supporting the growth ambitions of EVS. All the fundamentals for topline performance are strong: EVS realizes a record-high order intake and achieves a historical revenue number, despite the increased delivery terms in 2022. EVS is able to demonstrate a strong net profit result and as a consequence, realizes a solid Earnings Per Share.

FY22 Highlights

• Record order intake at EUR 218,8 million, growing 46,5% YoY.
• Revenue performance in line with expectations at EUR 148,2 million, growing 7,7% vs. FY21 despite increased delivery terms announced early 2022 and despite reduced Big Event Rental (BER) activity. The growth is realized through strong growth in North America and in the MediaInfra solution.
• Controlled OPEX growth, in line with market expectations.
• Healthy net profit at EUR 31,3 million driven by a strong financial income performance and a one-off benefit in taxes, resulting in fully diluted earnings per share of EUR 2,29.

2H22 Highlights

• Record order intake of EUR 130,1 million (including Big Tech 2022 contract).
• Revenue for the second half of 2022 at EUR 80,5 million, growing 6,1% compared to the same period last year.
  • Big Event Rental revenue at EUR 4,2 million, down EUR 4,9 million compared to 2H21.
  • Revenue excluding Big Event Rental at EUR 76,3 million, growing EUR 9,5 million.
• Net profit amounts to EUR 15,9 million, leading to fully diluted earnings per share of EUR 1,14

Outlook 2023

• The important order intake of 2022 has considerably fueled the order book to be delivered in future periods. The total order book at the end of 2022 is of EUR 141,8 million, growing 122% compared to last year.
  • The order book reserved for 2023 is estimated at EUR 85,9 million, growing 68,4% compared to beginning of the year 2022.
• Based on the order book and current market dynamics, the revenue guidance for the year 2023 is set at EUR 145-155 million.The revenue range demonstrates the ambition of EVS to continue the organic growth, in a year with no Big Event Rental revenue.
• With the growth engine launched, the focus in 2023 for EVS will be on profitable growth.
• EVS plans no further growth in team members nor do we expect an increase in our capital expenditure envelope.
• We expect to pay out dividends in 2023 in line with our dividend policy, namely a base dividend per share of EUR 1,10.