EVS Broadcast rises on soaring H1 revenue, outlook hike

Evs SA

18/08/2023 09:00

** Shares in EVS Broadcast  EVSB.BR  rise about 4% after the
Belgian outdoor video production company posted growing H1
revenues and raised FY guidance despite market challenges
    ** EVS posts H1 revenues of 87.4 mln euros ($95 mln), up 29%
YOY, and an EPS of 1.52 euro vs 0.37 euro last year 
    ** It raises FY revenue guidance to between 160-170 mln
euros from 150-160 mln euros, EBIT guidance moves to 32.5-38.5
mln euros range from 27.5-32.5 mln euros 
    ** KBC flags guidance hike even though EVS still faces
challenges in its electronic component supply chain
    ** The broker says H1 growth of two main market pillars,
Live Service Providers and Live Audience Business, make up for
"close to no revenues" in Big Evental Rentals business
    ** KBC also points out positive effects from EVS' pricing
strategy, while "gross profit is demonstrating that they can
balance price increases"
    ** KBC underlines strong balance sheet, solid cash position
and open receivables that restored well vs 2022
    ** The stock is set for its best day since late April 2022

 (Reporting by Pierre John Felcenloben)
 ((pierrejohn.felcenloben@thomsonreuters.com))