EVS reports first half 2024 results

Half year results confirm profitable growth ambition for 2024

Serge Van Herck, CEO, comments: “I am proud to announce that 1H24 has marked a new milestone for EVS, with revenues reaching a new high of EUR 98.1 million. Our net profit has further grown to EUR 21.8 million, reflecting the continued success and execution of our PlayForward strategy that focuses on profitable and sustainable growth. Positive customer feedback on our latest solution launches like VIA MAP, has significantly contributed to the expansion of our total pipeline, reinforcing our confidence in achieving yet another record-breaking year."

First half financial performance highlights

• Order intake of EUR 87.0 million, including EUR 7.8 million for 2024 Big Event Rental, demonstrating a growth of 7.1%. The overall pipeline for the year is strong (+44%), supporting growth of order intake at full year level, securing long-term growth perspectives.
• Revenue in the first six months of the year amounts to EUR 98.1 million, growing +12.2% YoY, including EUR 4.5 million Big Event Rental revenue.
• Gross margin performance remains strong at 71.9%, partly influenced by a change in accounting treatment of internal assets (+1.2Pts vs. 1H23 post adjustment).
• Net profit amounts to EUR 21.8 million, leading to a diluted earnings per share of EUR 1.54 (an improvement of EUR 0.02 compared to 1H23 results).

Outlook

• The secured revenue for 2024 is at EUR 172.2 million at the end of June, providing a solid base to confirm our growth ambition for the year 2024. Out of this total secured revenue number, EUR 14.4 million is linked to Big Event Rental revenue.
• Based on the secured revenue for 2024 and the solid pipeline, but also taking into account the M&A transaction signed, the revenue guidance is increased from an initial range of EUR 180-195 million to EUR 190-200 million.
• The long-term order book - beyond 2024 - is growing to EUR 67.6 million, an increase of EUR 14.9 million compared to the beginning of the year 2024.
• The full-year EBIT guidance is increased from the initial range of EUR 38-45 million to EUR 40-46 million.
• Overall pipeline is strong, growing by 44% compared to last year, and confirms our ability to capture further growth in order intake in 2H24 as to prepare the year 2025.