EVS REPORTS 2023 RESULTS

Delivering strong 2023, whilst building the future

The robust financial performance of EVS in 2023 underscores the effectiveness of the implemented strategy aimed at fostering sustained and profitable long-term growth. Despite the absence of significant Big Event Rental revenue in an uneven year 2023, EVS achieved record-breaking revenue and demonstrated strong profitability. This success serves as a testament to the efficacy of its PlayForward strategy.

Full-year Highlights

• Order intake outpacing revenue at EUR 192.9 million, including EUR 7.4 million of Big Event Rental (BER).
• Revenue performance landing north of our guidance at EUR 173.2 million, growing 16.9% vs. FY22 despite being an uneven year without major Big Event Rental activity
• Operating expenses are well controlled, with a start of depreciation of some intangible assets in 4Q23.
• EBIT closes in at EUR 41.1 million, landing EUR 2.3 million above our guidance, following the associated revenue performance.

Second half Highlights

• Strong order intake of EUR 108.9 million
• Revenue for the second half of 2023 at EUR 85.8 million, growing 6.6% compared to the same period last year.
• Net profit amounts to EUR 15.8 million, leading to fully diluted earnings per share of EUR 1.13.

Outlook

• The important order intake of 2023 has considerably fueled the order book to be delivered in future periods. The total order book at the end of 2023 is of EUR 153.2 million, growing 12.9% compared to the same period last year.
  • The order book reserved for 2024 is estimated at EUR 100.4 million, growing 16.9% compared to beginning of the year 2023. Out of this number, EUR 7.4 million is reserved for Big Event Rentals. Post closing, we secured additional Big Event Rental contracts
• Based on the order book and current market dynamics, the revenue guidance for the year 2024 is set at EUR 180-195 million
• EVS plans a controlled increase in number of team members in order to support further growth.
• We expect to pay out dividends in 2024 in line with our dividend policy, namely a base dividend per share of EUR 1.10.