EVS Broadcast Equipment (EVS) Q2 2025 earnings summary

Executive summary

• Achieved a record order book of EUR 174.8 million, up 23.4% year-over-year, driven by strong order intake and strategic wins, especially in North America and live audience business, despite H1 revenue delays and US tariffs.

• Revenue for H1 2025 was EUR 91.8 million, a 6.4% decline year-over-year, mainly due to temporary delays in revenue recognition from new business models, project milestone delays, and U.S. tariffs.

• EBIT dropped 38.1% to EUR 14.8 million, with net profit down 39.2% to EUR 13.3 million, both impacted by revenue delays and higher operating expenses.

• Confirmed full-year revenue guidance of EUR 195–210 million and EBIT guidance of EUR 35–43 million, excluding the Telemetrics acquisition.

• Announced acquisition of U.S.-based Telemetrics for up to $13 million, expanding the solution portfolio, robotics capabilities, and increasing the total addressable market by $125 million.

Financial highlights

• Order intake reached EUR 104 million, up 19.6% year-over-year; normalized growth 14.0%; excluding big event rental, growth was 13.4%.

• Gross margin improved to 72.6% (+0.7 pts YoY), driven by dynamic pricing and favorable product mix, despite a EUR 0.6 million tariff impact.

• Operating expenses rose 11% to EUR 51.8 million, mainly due to increased headcount and North America expansion.

• Net cash position increased to EUR 52.8 million, with healthy trade receivables and cash and cash equivalents at EUR 65.2 million.

• EPS declined 39% to EUR 0.94 per share, impacted by lower revenue and higher expenses.

Outlook and guidance

• Revenue guidance for 2025 maintained at EUR 195–210 million; EBIT guidance at EUR 35–43 million.

• Secured revenue at June 30 was EUR 169.1 million, up 7.2% excluding big event rental.

• Long-term order book for 2026 and beyond grew to EUR 97.4 million.

• Guidance ranges remain wide due to macroeconomic and project milestone uncertainties, including USD/EUR conversion risks.

• Targeted dividend of EUR 1.20 for 2025, subject to approval.