2024-02-23 13:45:06 ET
EVS Broadcast Equipment SA (EVSBY)
2023 Full Year Results Earnings Conference Call
February 23, 2024 4:00 AM ET
Company Participants
Serge Van Herck – Chief Executive Officer
Veerle De Wit – Chief Financial Officer
Benoît Quirynen – Senior Vice President-Strategy
Conference Call Participants
David Vagman – ING Belgium
Alexander Craeymeersch – Kepler Cheuvreux
Guy Sips – KBC Securities
Michael Roeg – Degroof Petercam
Presentation
Serge Van Herck
Good morning, good afternoon to everybody attending this Update on our 2023 Full Year Results. And before we start, I’ll leave Veerle explain or read the disclaimer.
Veerle De Wit
Yes, so the traditional disclaimer. This presentation will include forward-looking statements. Those statements are based on the current business and the current financial conditions and market conditions that we see of the operations of EVS and its affiliates. There are definitely risks always concerning that forward-looking statement, risks that could potentially lead to changes in that forward-looking statement. We may refer to risks and uncertainties linked to technology changes, to company concentration on one industry to decline in demand, et cetera. And those risks and uncertainties, they may have an impact on those forward-looking statements. We do confirm though that the current forward-looking statements are based on our best ability and assessment of our business and the current financial and market condition.
Serge Van Herck
Thank you, Veerle. So looking at the agenda of today, we’ll be talking, of course, on our business update, financial update. We’ll talk about the outlook for 2024. We’ll have our conclusions end to end. We’ll have the opportunity to listen to your questions and give you our answers. So let’s start with our business update. 2023 is the year that we celebrate our 30th anniversary and we’re very happy, I should say, 2024 is the year that we are celebrating 30 years. But we’re very happy to see that we end the year 2023 at a new record level of €173 million revenue. So, of course, we’re quite happy to see that happening. That’s a result of our play forward strategy that we started implementing at the beginning of 2020. And it’s clear to say that we see the results here even in an uneven year. So that is indeed something we’re very proud of, of this achievement in revenue.
When we go to Slide number 6, and we look to the corporate highlights, we definitely see that we are on our way to our BHAG, our big hairy audacious goal, and we’ll explain again in two slides later what that exactly means. But we feel that we are definitely on the right path to further grow for the future. When we look to market and customers, we definitely see the growth of revenue and of our order book. We also can confirm that we’ll be supporting some of our customers to operate those big sporting events in 2024. We see that our strategy regarding channels as key partners is definitely also bringing fruit.
We have clearly a view that certain competitors are diverse thing from our industry, which is helping us going forward. We are evolving with our product portfolio and our solution portfolio towards an ecosystem. And you’ve seen us announcing in September last year, the launch of our VIA MAP solution, which definitely will have an important role to play in further supporting a growth in the future. In 2023, we saw an important growth of our LAB customer base, The Live Audience business customer base, both in revenue as an order intake, which definitely was the objective of our strategy. And we see that on the NPS side, on the Net Promoter Score, we see that indicator further increasing with very nice results and we’ll come back to that later on.
We are a technology company active in the broadcast industry and when we look to those different technologies and evolutions, we can definitely point out some important topics. We see more and more AI-based workflows that are using our solutions, our AI generative solutions. I understand that everybody is talking about that and that is something that comes with ChatGPT last year, but remember that EVS started already investing in AI and in generative AI more than five years ago. So currently, we have already several products, which are integrating those technologies and that are being used by customers around the world.
We have launched our fourth leadership exercise around balanced computing some time ago, which is based on on-prem computing and the right combination between on-prem and cloud based computing, integrating both AI as well and making sure also that there is a focus on carbon footprint and ESG. And last but not least, technology is something that continues to involve and in that respect we continue our investments in future growth. Still today we have about half of all our team members in our company that are working on the technologies, research and development....
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EVS Broadcast Equipment SA (EVSBY) 2023 Full Year Results Earnings Call Transcript