EVS Broadcast Equipment FY24 revenue guidance upped to €190-200m and EBIT range to € 40-46m
In 1H24 we saw a very nice order intake of €87.0m, incl. € 7.8m for FY24 Big Event Rental, demonstrating a growth of 7.1%. 1H24 revenue up y/y 12.2% to €98.1m, including €4.5m for Big Event Rental. We welcome that -based on the end 1H24 secured revenues for FY24 of €172.2m (+8.5% y/y), and based on the strong profit performance- EVS is confident to achieve its ambitions of profitable growth for FY24. Out of this total secured revenue number, €14.4m is linked to Big Event Rentals.We updated our model as the results of 1H24, together with its perspectives for the following months, lead to an upgrade of its revenue guidance from €180-195m to €190-200m. At the same time, the FY23 EBIT range is also reviewed towards €40-46m (compared to an initial range of €38-45m). Next to its progress on FY24, EVS also continues to build the future. In addition to secured revenue for FY24, EVS has secured a long-term order book worth €67.6m (€ +14.9m vs end FY23). EVS indicated that the overall pipeline is strong, growing 44% y/y, and confirms their ability to capture further growth in order intake in 2H24 as to prepare FY25.
We increased our FY24E sales and EBIT forecasts from €189.2m and €43.6m to €197.1m and €44.1m, resulting in a new €40.5 TP (was €39).
EVS Broadcasting Equipment is engaged in the development and marketing of audiovisual equipment relating to the processing of pictures and sound. Co. provides solutions based on tapeless workflows with a consistent modular architecture. Co.'s activities are divided into the following regions: Asia-Pacific, Europe, Middle East and Africa, and America.
We are a financial services provider for several types of professional clients, each with distinct needs.
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