EVS Broadcast: Rises on Q1 revenue surge, upbeat outlook

Evs SA

20/05/2021 09:16

** Shares in Belgian video technology co EVS Broadcast
 EVSB.BR  up 6.3% at 18.68 euros
    ** Q1 revenue jumps 46.3% to 54 mln euros ($658.10
mln) urn:newsml:reuters.com:*:nFWN2N610N
    ** EVSB expects 2021 revenues between 110 mln euros and 120
mln euros vs 88.1 mln euros in FY20
    ** KBC Securities says new outlook is a little below its
estimates, while ING says it is in line with market expectations
    ** It is positive that Live Service Providers (LSP)
customers are restarting their LiveCeption solution upgrade
programs - KBC; LiveCeption is live production replay and
highlights solution
    ** Brokerage also says it is positive that co sees traction
with Live Audience Business (LAB) customers for broadcast center
modernization projects
    ** ING notes upbeat management comments on LSP clients
restarting orders earlier than expected; points out that LAB
clients had shown "very nice" resilience in 2020, confirmed in
2021
    ** "We see it as a confirmation of the upgrade/replacement
cycle that finally really took off in 2020, after multiple years
of waiting for it," ING adds
    ** EVSB hits highest in a month
    ** Traded in heavy volumes: about 129% of 30-day moving
average at 0814 GMT
        
    

($1 = 0.8205 euros)

 ((michal.aleksandrowicz@tr.com))