February 21, 2008 00:30 ET

EVS Reports Record Revenue and Profit in 2007, Expects Growth in 2008, Mainly in First Half

OUGREE, BELGIUM--(Marketwire - February 21, 2008) -

-- Record 4Q07 revenue of EUR 27.2 million, +42.8% vs. 4Q06

-- FY07 revenue of EUR 94.7 million, +14.5% vs 2006 at constant exchange rate

-- Asia & Pacific up 36.4% over FY07, America's up 49.1%, offset Europe down 13.6%

-- 4Q07 EBIT of EUR 18.4 million, +50.3% vs. 4Q06

-- FY07 EBIT of EUR 61.9 million, or 65.4% of revenue

-- FY07 EPS (basic) increase of 0.5% to EUR 2.91, or +11.0% excl. XDC

-- Strong winter order book of EUR 36.4 million, +67.0%

-- Studio represents 38% of that order book (with longer leadtime)

-- 2008 guidance: growth compared to 2007, particularly in the first half

-- Gross dividend of EUR 2.28 per share to be proposed at the General Meeting.

Liège (Belgium), February 21, 2008, EVS Broadcast Equipment S.A. (ISIN BE0003820371, Euronext EVS.BR, Bloomberg EVS BB, Reuters EVSB.BR, OTC Pinksheets EVBEF), the leader in Professional Digital Video applications for Live, Near-Live and Studio TV Production, reports today its results for the fourth quarter 2007 ("4Q07") and the full year 2007 ended December 31, 2007 ("FY07").

Key Highlights

Pierre L'Hoest, CEO of EVS said: "As anticipated, the last quarter yields record sales of EUR 27.2 million, mainly thanks to stronger sales in Europe. While we expected it to be a transition year, 2007 turned out to be a growth year, with annual sales topping EUR 94.7 million, which is +22.3% at constant exchange rates and excluding the big events rentals of 2006. We have pursued the HDTV conversion of Outside Broadcast trucks all over the world and our teams have succeeded in implementing key near-live studio projects. This paves the way for 2008, which will be driven by the Football Euro 2008 and the Olympics. On the longer term, our customers are initiating or pursuing their tapeless transition and the shift towards HDTV production and transmission. EVS clearly benefits from the current HDTV start in Europe and its further penetration in the studio market."

Commenting on the results, Jacques Galloy, CFO said: "While expanding sales, we have strengthened the group by increasing our headcount by 18%, mainly in R&D and field operations, in the 11 countries where we are present. Operating expenses have grown by 26.9% without damaging the operating margin, which has remained at 65%, despite the weakness of the US dollar. We are creating new local partnerships or new offices to reinforce market presence. Product innovation and customer service remain our key drivers. We are pleased to reward our shareholders by proposing a final gross dividend of EUR 2.28 next May, including the gross interim dividend of EUR 0.80 paid out last November".

     (unaudited)      IFRS - EUR millions,            (audited)
                      except earnings per share
4Q07  4Q06  4Q07/4Q06 expressed in EUR          FY07  FY06  FY07/FY06
 27.2  19.0    +42.8%  Revenue                   94.7  85.2    +11.2%
 18.4  12.2    +50.3%  Operating profit - EBIT   61.9  56.9     +8.8%
67.7% 64.3%    +3.4pp  Operating margin - EBIT  65.4% 66.8%    -1.4pp
 -1.3  -0.1       N/A  Contribution from 47%     -3.0  -2.5       N/A
                      XDC affiliate
    -     -       N/A  Exceptional XDC dilution     -   3.4       N/A
                      profit (1)
 11.5   8.4    +36.7%  Net profit - Group share  39.5  39.4     +0.2%
                       Net profit from
 13.0   8.7    +50.3% operations, excl. XDC -    43.6  39.4    +10.7%
                      Group share (2)
 0.85  0.62    +36.8%  Basic earnings per share  2.91  2.89     +0.5%
                       Basic earnings per share
 0.96  0.64    +50.4% from operations, excl.     3.21  2.89    +11.0%

(1) EVS share in XDC has decreased to 47.20% from 60.17% in June 2006, leading to a dilution profit and a change in the consolidation method of XDC stake in the consolidated accounts of EVS: XDC 47.20% stake is booked at equity method.

(2) The net profit from operations, excl. XDC, is the net profit (share of the group) excluding non operating items (net of tax) and the XDC contribution. Refer to Annex 6.3: use of noon-gaap financial measures.

For more information, please contact:

Jacques GALLOY, Director & CFO
Geoffroy d'OULTREMONT, Investor Relations and Corporate
Communications Manager
EVS Broadcast Equipment, Liege Science Park, 16 rue du Bois
Saint-Jean, B-4102 Liège-Ougrée, Belgium
Tel: +32 4 361 7014.  E-mail:;

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