EVS Q3 2023 BUSINESS UPDATE

Delivering strong 2023, whilst building the future

EVS continues its strong journey in 2023 and confirms it will realize its ambition for profitable and sustainable growth in the year. In the 4th quarter, we will focus on the planned deliveries for 2023 and continue building the future, while also preparing for the major sport events in 2024. All order intake secured in the final months of the year will contribute to support our growth in 2024.

Highlights

• Revenue performance continues the strong momentum from the first quarters of the year supporting our growth ambition for 2023.
• The secured revenue* allows EVS to confirm that the high-end range of the existing revenue guidance (EUR 160 - 170 million) is within reach.
• Gross margin levels continue to improve and operational expenses are under control, demonstrating our objective to realize a profitable growth in 2023.
• In line with the evolution of the revenue guidance, EVS  confirms that the EBIT guidance is shaping up towards the high-end of the existing range (EUR 32.5 - 38.5 million).

Outlook

The 2023 secured revenue allows us to confirm that the high-end range of the existing revenue guidance is within reach (EUR 160 - 170 million). 

Thanks to the strong topline performance, the gross margin for the full year 2023 is expected to increase . The investments from the past in our operations & support structure are fully covered by additional revenue growth. Next to that, we see the gross margin by solution growing, as a result of our pricing strategy.

Operational expenses continue to be closely monitored and controlled. As our focus in 2023 is on profitable and sustainable growth, this balance is critically important. As such, we have seen little changes in our overall headcount position in 1H23. Since 3Q23 we are againg investing in additional team members, as to ensure we prepare for future growth. There will be a marginal increase in our overall headcount position in 2H 2023. 

Next to our revenue gudiance firming up, we also confirm that the high-end range of our EBIT guidance is within reach (EUR 32.5 - 38.5 million).