EVS boosts profit forecast thanks to busy sports summer
EVS, the Belgian specialist in live video technology, posted record revenues for the first six months of 2024 and also increased its profit forecast for the full financial year. The Liège-based company is benefiting from the high demand for its technology to capture the action during the busy sports summer.
EVS announced that its revenue in the first six months of the year amounted to 98.1 million euros, 12.2 per cent more than last year and a new record. Its net profit has grown to 21.8 million euros.
EVS's technology has been an important link in the global entertainment industry for years and was used, amongst others, to capture the action at the Olympics and the European Football Championship. Years with several major sporting events are the most lucrative for the company.
Major sporting events
“A notable highlight of this period is our successful support of key customers in delivering major sporting events earlier this year in Europe,” CEO Serge Van Herck said in the half-year update.
EVS also boosted its full-year profit forecast. The company is now targeting a gross operating profit of between 40 and 46 million euros, instead of 38 to 45 million euros previously.
The revenue forecast is also increased, from 180-195 million to 190-200 million euros. This, according to EVS, is based on its "secured revenue for 2024, the solid pipeline and the signed acquisition transactions". The company recently announced the acquisition of Portuguese company MOG Technologies and investment in media technology company Tinkerlist.
EVS is also performing well on the stock market. Its share price is trading 34 per cent higher than a year ago.
The EVS building in Seraing, Liège © BELGA PHOTO NICOLAS LAMBERT
Related news
