EVS shares drop as 2024 outlook comes below expectations

Evs SA

17/05/2024 09:41

** Shares in EVS Broadcast Equipment  EVSB.BR  drop 6.3%
after the Belgian outdoor video production company gave a
lower-than-expected FY guidance on Thursday 
    ** It expects 2024 EBIT of 38-45 million euros ($41-49
million), vs 47 million euros seen in analysts' consensus
    ** "The consensus may have to come down by about 5-7% or so
for FY24," says Michael Roeg, Senior Equity Analyst at Degroof
Petercam
    ** EVS says "operational expenses continue to be closely
monitored and controlled", adding investments will continue in
2025
    ** It warns that the geopolitical situation in Ukraine and
Palestine continues to present uncertainties, particularly
concerning component supply
    ** The shares are on track for their worst day since
September 2022 if losses hold

($1 = 0.9219 euros)

 (Reporting by Dimitri Rhodes)
 ((Dimitri.Rhodes@thomsonreuters.com))