Brief: EVS Broadcast Equipment H1 EBIT Down 3.7% To 3.3 Million Euros

Evs SA

27/08/2020 05:44

Aug 27 (Reuters) - Evs Broadcast Equipment SA  EVSB.BR :
    * H1 NET PROFIT FELL 11.5 PERCENT TO 3.3 MILLION EUR
    * H1 BASIC EPS 0.24 EUR VERSUS 0.26 EUR YEAR AGO
    * REVENUE IN FIRST SIX MONTHS OF YEAR, INCLUDING AXON
REVENUES
FROM MAY 1(ST), AMOUNTS TO EUR 39.6 MILLION IN 1H20, - 3.5% YOY
    * H1 LOWER OPERATING EXPENSES (-5% IN 1H20 COMPARED WITH
1H19),
THANKS TO LOWER MARKETING, TRAVEL EXPENSES AND PROVISION FOR
REDUCED VARIABLE BONUS FOLLOWING COVID-19 CRISIS
    * EBIT AMOUNTS TO EUR 3,3 MILLION IN 1H20 (8.3% OF
REVENUES),
WHICH IS -3.7% COMPARED TO 1H19
    * ORDER INTAKE JUNE YTD: - 7,5% VERSUS JUNE 30TH, 2019
(EXCLUDING
AXON)
    * NO REVENUE GUIDANCE GIVEN FOR 2020 AMID COVID-19
UNCERTAINTIES
    * ORDER BOOK OF EUR 45,8MEUR ON JUNE 30, 2020 (INCL. AXON)
OUT OF
WHICH: * EUR 19,6 MILLION TO BE RECOGNIZED IN REVENUE IN 2020
    * OPEX EXPECTED TO INCREASE YOY WITH MID-TO-HIGH SINGLE
DIGIT DUE
TO ACQUISITION OF AXON EXPENSES (AND TO DECLINE YOY WITH
MID-TO-HIGH SINGLE DIGIT EXCLUDING AXON)
    * AT END OF JUNE 2020, EVS EMPLOYED 532 PEOPLE (FTE)
    * ON STAFF: THIS IS AN INCREASE OF 75 PEOPLE COMPARED TO
JUNE
2019, AS A RESULT OF INTEGRATION OF AXON EMPLOYEES
    * SIZE OF WORKFORCE SHOULD REMAIN STABLE IN 2020
    * H2 ORDERS MAINLY IMPACTED BY LSPS, PROBABLY DUE TO
COVID-19
EFFECT
    * DESPITE LOWER REVENUES AND COVID-19 SITUATION, WE
MAINTAINED OUR
PROFITABILITY AT SIMILAR LEVEL AS LAST YEAR, THANKS TO LOWER
OPERATIONAL EXPENSES - CEO
    * WE MAINTAIN A STRONG CASH POSITION TO WEATHER THESE
DIFFICULT
TIMES - CEO
    * EUR 13,5 MILLION (EXCLUDING. BIG EVENTS RENTALS) TO BE
RECOGNIZED IN REVENUE IN 2021 AND BEYOND (+95,6% YOY)

Source text for Eikon:  ID:nGNE3HSxk2 
Further company coverage:  EVSB.BR 

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