EVS Broadcast Equipment (EVS) Q4 2024 earnings summary

Executive summary

• Achieved record revenue of EUR 198 million in 2024, up 14.3% year-over-year, marking four consecutive years of growth and the company's 30th anniversary.

• Net profit reached EUR 42.9 million (21.7% margin), up 15.7% year-over-year, with fully diluted EPS of EUR 3.02, supported by strong financial income and low tax rates from deferred tax benefits.

• Order intake grew 8.2% to EUR 208.6 million, with a robust order book for 2025 at EUR 163.5 million and secured sales for 2025 at EUR 107 million.

• Strategic acquisitions of MOG Technologies and TinkerList broadened the solutions portfolio, supporting growth in news production, digital workflows, and MediaCeption.

• Expansion in North America and LAB business segments drove regional and segmental growth, with a focus on technology, ESG, and customer satisfaction.

Financial highlights

• Revenue grew 14.3% year-over-year to EUR 198 million; 2H24 revenue was EUR 99.9 million (+16.5% YoY).

• Gross margin improved to 72.3% (+2.6 pts YoY), driven by pricing, higher software mix, and service revenue.

• EBIT reached EUR 45 million (22.7% margin), up 9.5% year-over-year; net margin was 21.7%.

• Net cash position doubled to EUR 74.9 million, driven by record net operating cash flow of EUR 63.9 million.

• Working capital ratio to sales improved from 52% to 46%, with trade receivables flat year-over-year despite growth.

Outlook and guidance

• 2025 revenue guidance set at EUR 195–210 million, supported by a strong order book and 18% YoY pipeline growth.

• Order book for 2025 delivery at EUR 107 million, up 6.6% from the prior year; total order book at EUR 163.5 million.

• Continued investments planned in North America to accelerate growth, with EBIT guidance to follow after Q1 results.

• Long-term goal to reach EUR 350 million revenue by 2030, with stable EBIT margins around 22%.

• Dividend policy for 2025–2027 set at EUR 1.20 per share annually, with a final 2024 dividend of EUR 1.10 per share (subject to approval).