H1 2023 FY results - Strong results confirm profitable growth ambition
- 17 August 2023
EVS reports first half 2023 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.
First half financial performance Highlights
- Strong order intake of EUR 84.0 million
- Revenue in the first six months of the year, amounts to EUR 87.4 million, growing +29% YoY, in a context where no Big Event Rental revenue is realised as we are operating in an uneven year.
- Gross margin performance is strong demonstrating a growth of 2.4Pts compared to the same period last year, a consequence of our margin optimization plan for each solution.
- Net profit amounts to EUR 21.2 million, leading to a diluted earnings per share of EUR 1.52 (an improvement of EUR 0.37 compared to 1H22 results).
- The secured revenue for 2023 is at EUR 158.7 million at the end of June, confirming our growth ambition for the year 2023.
- Based on the secured revenue at end of June 2023, the revenue guidance for the full year is upgraded from EUR 150- 160 million to EUR 160-170 million. This upgrade assumes a normal final production cycle of the year, without any impact of shortage in components nor any important changes linked to the pricing of components.
- The long-term order book - beyond 2023 - is growing to EUR 61.7 million, an increase of EUR 5.8 million compared to the beginning of the year 2023.
- The gross margin percentage is expected to be marginally negatively impacted in 2H23 compared to the results of 1H23, as a consequence of the projected cost of BOM.
- As a consequence of the upgrade in revenue guidance and the strong profit performance, the full year EBIT guidance is being upgraded from an initial range of EUR 27.5-32.5 million to a new range of EUR 32.5-38.5 million, clearly demonstrating our sustainable and profitable growth ambition.
Veerle DE WIT* - CFO - firstname.lastname@example.org
EVS Broadcast Equipment S.A., Liege Science Park, 13 rue du Bois Saint-Jean, B-4102 Seraing, Belgium
Tel: +32 4 361 70 00.
*Representing a SRL