EVS Broadcast to 'get back on investors' radar' after strong Q1, shares rise

Evs SA

23/05/2022 09:06

** Shares in EVS Broadcast Equipment  EVSB.BR  rise 3.2%
after the video technology company reported a strong secured
revenue and orders at end-March  urn:newsml:reuters.com:*:nFWN2XC0XN
    ** Excluding Big Event Rental, the group posted end-Q1
secured revenue up 51.2% at EUR 81.8 mln ($86.70 mln), with EUR
15.5 mln of orders to be invoiced in 2023 and beyond
    ** "2021 was a record year for EVS and based on our strong
Q1 order intake results, we are cautiously optimistic for 2022,"
CEO said as EVS confirmed 2022 revenue guidance
    ** Both trends considerably subscribe the company's
intentions to grow its revenue in 2022, KBC Securities notes,
also pointing to "big event year" results for Big Event Rental
    ** Flagging a "very strong start to year", ING says it
expects a marked positive share price reaction and the stock to
increasingly get back on investors' radar screens
    ** "More positive is that gross margins are holding up,
despite significant increases in some component prices and
labour inflation," the brokerage adds
    ** The stock of EVS, which edged up as much as 4.5% in
morning trade, is broadly flat year-to-date 

($1 = 0.9435 euros)

 (Reporting by Juliette Portala)
 ((juliette.portala@tr.com))