EVS Broadcast Equipment Target Tweaked, Confidence Sustained
We updated our model after EVS highlighted 1Q25 was slightly below its own expectations, primarily due to the deferral of certain customer deliveries from March to April. EVS stressed that this timing-related impact does not alter their underlying business momentum. EVS indicated that customer demand remains robust across all regions. We welcome EVS remains cautiously optimistic about achieving its FY25 revenue objectives though, given the macro-economic tensions, the tariff discussions and the weakening dollar.We also welcome EVS's indication that operating expenses remain under control. However, based on the 1Q25 results and in alignment with the company's revenue guidance, EVS issued a new FY25 EBIT guidance range of € 35m to € 43m (we revised from € 43.6m to € 39.6m).
As a result, we are slightly lowering our Target Price from € 46 to € 45, while maintaining our Buy rating. We continue to believe that EVS is well-positioned to deliver topline growth and strong profitability
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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