Posts Tagged ‘Joop Janssen’

EVS Parts Ways with CEO Joop Janssen Over Differing Opinions on Strategic Implementation

broadcast technology market research | Posted by Joe Zaller
Oct 13 2014

Production and playout video server specialist EVS announced that CEO Joop Janssen is leaving the company, effective as of October 14, 2014.

Jassen remains available to EVS as an advisor, allowing for a smooth transition.

The decision was made during a meeting on October 10, 2014, during which the company’s board of directors and Janssen mutually agreed to end the term of the office and duties of Janssen as managing director and CEO of EVS.

According to EVS, Jassen and the company are parting ways “due to differences in view about the implementation of the company’s long term strategy.”

EVS says its board of directors has launched the search for a new CEO.

In the interim, Muriel De Lathouwer, currently a member of the Board of Directors of EVS, chairing the Strategy Committee, has been appointed as the President of the Executive Committee. “I have great confidence in Muriel De Lathouwer’s capacities to perform this task, in close cooperation with the management team in place,” Pierre Rion added.

Jassen, who was named CEO of EVS in 2012, unveiled a new corporate strategy in early 2013 that focused EVS on four key markets: Sports, Entertainment, News and Media.  At that time, Janssen said the new strategy will “enable us to better deliver our investments in R&D and product innovation, help drive the expansion of our sales network, and continue to improve our user training and customer support and bring even better products to the market faster.”

“The entire Board of Directors would like to thank Joop Janssen for his work during the past two years. Under his leadership, the structure of EVS has been strengthened and professionalized, enabling the company to further grow in its four key markets: Sports, Entertainment, News and Media,” said Pierre Rion, Chairman of the Board of Directors of EVS.

Prior to joining EVS, Jassen was the Chief Executive of the Videocom division of the Vitec Group. During his nine years with Vitec Videocom he was the architect behind its significant profitable growth and brand expansion. Prior to that he was VP and General Manager of Phillips Broadcast (formerly BTS) North America where he was instrumental in the successful divestment to Thomson Multimedia and the subsequent acquisition of the Grass Valley Group. He has held senior and executive management positions including those at Philips Electronics Digital Networks in France and Philips Business Electronics in the Netherlands.

EVS says its board of directors has launched the search for a new CEO.

In the interim, Muriel De Lathouwer, currently a member of the Board of Directors of EVS, chairing the Strategy Committee, has been appointed as the President of the Executive Committee. “I have great confidence in Muriel De Lathouwer’s capacities to perform this task, in close cooperation with the management team in place,” Pierre Rion added.

During her career, Muriel De Lathouwer worked for Accenture, was Associate Principal at McKinsey and a member of the Executive Committee at Base (KPN). She is an Engineer from ULB (University of Brussels) and holds an MBA from INSEAD.

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Related Content:

Press Release: EVS Announces Departure of Joop Janssen, Managing Director and CEO

EVS Posts Record Revenue in 2012, Unveils New Strategy and Vision for Future

Press Release: EVS Broadcast Equipment Appoints Joop Janssen as CEO

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© Devoncroft Partners 2009 – 2014. All Rights Reserved.

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EVS Q2 2014 Revenue Increases by 19.4 Percent, In Line with Expectations

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
Sep 08 2014

Production and playout video server specialist EVS reported revenue of €35.6 million, an increase of 19.4% versus the same period last year, and an increase of 21.5% versus the previous quarter.  Excluding the effect of exchange rate movements and event rentals, the Company’s Q2 2014 revenue increased 9.0% versus the year earlier period.

Q2 2014 results were in-line with the Company’s expectations for the quarter.  Management cited strong performance in the Americas in Q2 2014 (compared to weak Q2 2013) and the company’s involvement in delivering the recent World Cup.  This more than offset a significant drop in revenue from the Asia Pacific region.

Net profit for the second quarter was €8.9m.  This represents a 28.0% growth versus the same period a year ago and an increase of 25.4% compared to the preceding quarter.

EBIT (Earnings before Interest and Tax) for the quarter was €12.9m, up 33.5% compared to the year earlier period and up 29.0% versus the first quarter of 2014.

 

Geographic Revenue:

  • Revenue from EMEA in the second quarter of 2014 was €17.7m, up 1.8% last year. Sales in EMEA accounted for 50% of group revenue.

 

  • Americas’ revenue for the second quarter of 2014 was €8.6m, up 170.8% versus last year. Americas accounted for 24.4% of group revenue, up significantly from 10.8% last year.

 

  • Q2 2014 revenue from the APAC region was €5.1m, down 41.4% versus last year. APAC accounted for 14.2% of total revenue in the quarter, down significantly from the contribution of 29.0% last year.

 

 

Segment Revenue:

  • Revenue from sports-related applications during the second quarter of 2014 was €23.2m, or 65.2% of total group sales, an increase of 20.8% versus last year.

 

  • Revenue from Entertainment, News & Media (ENM) during the quarter was €8.3m, or 23.2% of total group sales, down -17.8% compared to last year.

 

 

System & Service Revenue:

  • Systems revenue in the quarter was €33.4m, or 93.7% of total revenue, up 19.6% versus the same period last year

 

  • Services revenue was €2.2m, or 6.2% of total revenue, up 15.8% versus the year ago period.  Services revenue includes advices, installations, project management, training, maintenance, and distant support

 

 

Operating margin for the quarter was 36.2%, an improvement over both the 32.4% from last year and the 34.1% operating margin during the first quarter of the year.

Gross margins for the quarter were 75.0%, a slight decrease from the 76.3% gross margins during the Q2 2013 and flat versus the 74.9% gross margin level from last quarter.

Operating expenses grew by 6.8% versus the same period a year ago.  Management attributed the increase to additional hiring and incremental costs including investments in DYVI Live/SVS.

R&D expenses in the quarter were €6.2m, or 17.6% of revenue, up 11% from the same period last year, and down 0.5% versus last quarter.

Selling and administrative expenses in the quarter were €6.8m, or 19% of revenue, up 3.1% versus the same period a year ago, and up 25.6% versus the previous quarter.

The company ended the quarter with 503 employees, up from 497 at the end of last quarter, and up 5.4% from the 477 employees at the end of Q2 2013.

 

 

Order Book:
The order book stood at €40.9m as of August 27, 2014.  This compares to €35.4m on the same date one year ago.  All of the €40.9m order book will invoice during 2014.  This includes €7.7m for big event rentals for the 2014 World Cup and other smaller sporting events.  In addition, the Company has already secured €13m worth of orders for invoicing during 2015.

 

 

Outlook:

Based on signs of a moderate slowdown in the live production server market, EVS is now expecting low single digit revenue growth in 2014 versus 2013.  Management also indicated an expected 10-13% operating expense growth related to investments in new technologies.

“In the current challenging environment, we have been able to protect our market shares in our 4 target markets and deliver solid results in the second quarter.” said EVS CEO Joop Janssen. “At the upcoming IBC tradeshow in Amsterdam, we will launch new features and solutions, which will help us to consolidate our leading position in Sports and ENM. We are confident that our strategy is right and that our continued efforts will start paying off when the market situation improves.”

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Related Content:

Press Release: EVS Reports Second Quarter 2014 Results

EVS Q2 2014 Earnings Call Presentation

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© Devoncroft Partners 2009 – 2014. All Rights Reserved.

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Broadcast Vendor M&A: EVS Disposes of dcinex Stake for €10.8 Million

broadcast industry trends, Broadcast Vendor M&A | Posted by Joe Zaller
Jul 21 2014

EVS announced that it has reached an agreement to sell its 41.3% stake in dcinex, a digital cinema solutions provider, to Ymagis SA.

The company says that the deal, which values decinix at up to  €10.8m, will allow EVS to focus fully on its four core market strategy in the broadcast sector.

Originally called XDC, dcinex was founded  in 2004 by EVS co-founder Laurent Minguet, and changed its name to dcinex in 2012. It’s principal activities are digital cinema, distribution of alternative content (Ddcinema) and development of the Cinestore products.

Under the terms of the deal, EVS will receive at the closing:

  • EUR 2.1 million in cash
  • 288,851 new Ymagis shares
  • EUR 6.4 million in Ymagis bonds, which have a maximum maturity of 5 years. These bonds are associated with warrants.
  • In addition, dcinex will reimburse the currently existing shareholders` loans. Today, the loan granted by EVS (including interests) amounts to EUR 1.5 million.

In total, the approximate aggregate value of the different components (at last closing Ymagis share price of EUR 7.90) represents around EUR 10.8 million for EVS. On March 31, 2014 dcinex was valued at EUR 7.9 million on the EVS balance sheet.

Joop Janssen, CEO of EVS, said: “dcinex was created within EVS 15 years ago. In 2004, it was decided to spin it out. With the support of EVS, dcinex has developed itself to become a leading provider of digital cinema services in Europe. In the bigger entity that will result from this transaction, dcinex will be even stronger to continue its successful evolution in that market. EVS will now fully focus on its four core market strategy (Sport, Entertainment, News and Media) in the broadcast sector.”

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© Devoncroft Partners 2009 – 2013. All Rights Reserved.

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3rd Annual “Shifting Media Economics: Impact on Strategy, Finance, and Technology” Draws Huge Crowd at NAB 2014

broadcast industry technology trends, broadcast industry trends, broadcast technology market research, Broadcast technology vendor financials, Broadcast Vendor M&A | Posted by Joe Zaller
Apr 09 2014

This was the scene as we kicked off the third annual “Shifting Media Economics: Impact on Strategy, Finance, and Technology”  event at the NAB 2014 Show.

This half-day session was co-produced by Devoncroft Partners, Silverwood Partners, and the organizers of the 2014 NAB Show (to whom both Devoncroft and Silverwood are very grateful).

We had a standing-room only crowd from the moment the doors opened, and attendees were not disappointed by the outstanding information presented on the day.  The power of this unique event is that it brings together three ordinarily disparate groups — technology vendors, broadcasters, and financial firms — to discuss and debate important business issues facing the industry at a time of incredibly dynamic change.

 

SRO Crowd at NAB

 

We would especially like to thank our speakers and panelists for not only taking times out of their busy lives to prepare for and attend this event, but also (especially) for their thoughtful and often candid assessment of the state of the broadcast industry today, and what the future may bring.

In particular we would like to thank Vince Roberts,EVP Global Operations and Chief Technical Officer of Disney/ABC Television for his outstanding keynote address, which which provided a truly thought-provoking insight into the future of the media industry (and he’s funny too).

 

In case you missed this event, the full agenda  included:

 

Strategic Industry Analysis: Valuations, M&A, and Equity Financing

Presenters:

  • Jonathan Hodson-Walker: Managing Partner, Silverwood Partners
  • Joshua Stinehour: Managing Director, Silverwood Partners

 

 

The Broadcast & Media Technology Industry in 2014

Presenter:

  • Joe Zaller: President, Devoncroft Partners

 

 

Business Strategy Perspective From Industry Executives

Moderator:

  • Joe Zaller – President, Devoncroft Partners

 

Panelists:

  • Sam Blackman: CEO and Co-founder, Elemental Technologies
  • Louis Hernandez. Jr.: President and Chief Executive Officer, Avid
  • Joop Janssen: CEO, EVS
  • Michelle Munson: President, CEO and co-founder, Aspera, an IBM company

 

 

Keynote: Vince Roberts: CTO and EVP Global Operations, Disney/ABC Television Group

 

 

IABM Research Overview

Presenter:

  • Peter White: Chief Executive Officer, IABM

 

 

The Broadcast Buyer Perspective on Business Models, Trends, and Technology Advancement

 

Moderator:

Joe Zaller – President, Devoncroft Partners

 

Panelists:

  • Phil Braden: SVP Technology and Applications, PCCW Global
  • Del Parks: SVP Operations & Engineering, Sinclair Broadcast Group
  • Todd Daly: EVP Operations & Systems Engineering, Fox Broadcasting
  • Andy Tennant: Technology Director, Studios, ITV

 

 

Keynote: Vince Roberts: CTO and EVP Global Operations, Disney/ABC Television Group

 

Investor Perspectives on Industry

Moderator:

Jonathan Hodson-Walker: Managing Partner, Silverwood Partners

 

Panelists

  • Jeff Parks, Founding Partner, Riverwood Partners
  • Rohan Rai: Director, Wasserstein & Company
  • Sunit Mukherjee: Principal, Symphony Technology Group

 

 For those of many of you who asked for copies of presentations, please email info [at] devoncroft [dot] com and we will try to respond as soon as possible after the 2014 NAB Show.

 

Finally, thanks to all those who attended the event and sat in such a crowded room.

 

Based on the feedback we’ve received so far, there are two key takeaways from this event:

  • The content and substance of the event was terrific
  • You might want to consider a larger room next time

 

 

Were you there?  What did you think?  Please let us know.

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© Devoncroft Partners 2009 – 2014. All Rights Reserved.

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Want to Understand the Top Issues at NAB 2014? Don’t Miss “Shifting Media Economics: Impact on Strategy, Finance, and Technology”

broadcast industry technology trends, broadcast industry trends, broadcast technology market research, Broadcast technology vendor financials, Broadcast Vendor M&A, market research | Posted by Joe Zaller
Apr 05 2014

NAB 2014 Strategy-Session-Logos

 

If you are interested how the dramatic changes impacting the broadcast industry may shape its future, you won’t want to miss the third annual NAB Show event co-produced by Devoncroft, Silverwood Partners and the organizers of the NAB Show.

Now part of the NAB 2014 Broadcast Management Conference, this half-day session is called “Shifting Media Economics: Impact on Strategy, Finance, and Technology.”

It will be held in room N235 of the Las Vegas Convention Center on Sunday April 6th from 1:30 p.m. to 6:00 p.m.

Download the full agenda and speaker biographies here.

As always, this event features an intensive, information-packed series of presentations and panels that discuss the strategic trends and industry-specific factors influencing the value of media technology companies.

We’ve worked hard to put together an outstanding line-up of speakers and presenters, including top technology buyers, leading technology vendor CEOs, and private equity investors who will speak to the opportunities and challenges involved with financing the next phase of technology change in the industry.

The agenda offers attendees the informed opinions of technology purchasers, industry executives, market research organizations, and financial professionals. The event will serve as a thought-provoking kick-off to the 2014 NAB Show.

Highlights will include panel discussions featuring leading vendor CEOs, senior executives from leading broadcasters, and private equity investors who will speak to the opportunities and challenges involved with financing the next phase of technology change in the industry.

In addition, the audience will benefit from preliminary excerpts from the Devoncroft Big Broadcast Survey, the industry’s definitive demand-side market report, and the IABM DC Global Market Valuation Report, the industry’s definitive supply-side market report.

This session is intended for senior executives from technology vendors, end-users, and investment firms in the media technology sector.

Please click here for more information and/or to register.

 

 

Here’s the current agenda:

Shifting Media Economics: Impact on Strategy, Finance, and Technology

Sunday April 6, 2014

1:30 p.m. – 6:00 p.m.

Room N235 Las Vegas Convention Center

Part of the 2014 NAB Broadcast Management Conference

 

 

1:45 pm – 1:50 pm

WELCOME AND INTRODUCTION

Joe Zaller – President, Devoncroft Partners

 

 

1:50 pm – 2:15 pm

Strategic Industry Analysis: Valuations, M&A, and Equity Financing

Jonathan Hodson-Walker and Joshua Stinehour of Silverwood Partners will present an analysis of strategic industry trends and the specific factors that affect company valuations, including an updated perspective on transaction activity and valuations, vendor strategic considerations, and the current M&A environment along with near-term expectations.

 

Presenters:

  • Jonathan Hodson-Walker: Managing Partner, Silverwood Partners
  • Joshua Stinehour: Managing Director, Silverwood Partners

 

 

2:15 pm – 2:40 pm

The Broadcast & Media Technology Industry in 2014

Top broadcast analyst Joe Zaller will present a summary of key data derived from a variety of broadcast market intelligence projects including the newly published 2014 Big Broadcast Survey (BBS), the industry’s definitive demand-side market report. Discussion topics will include strategic drivers of broadcast technology spending, key customer investment areas, new technology deployment trends, and the most significant industry trends impacting end-user purchasing decisions.

 

Presenter:

  • Joe Zaller: President, Devoncroft Partners

 

 

2:40 pm – 3:15 pm

Business Strategy Perspective From Industry Executives

This panel of recognized executives at leading vendors will offer views on the critical drivers of company valuation in the industry, the best practices the panelist’s have learned on how to evaluate M&A opportunities, and the preferred approach for integrating M&A into overall growth strategies. The panelists will also consider the question of how broader technology trends are impacting the vendor community in the industry.

Moderator:

  • Joe Zaller – President, Devoncroft Partners

 

Panelists:

  • Sam Blackman: CEO and Co-founder, Elemental Technologies
  • Louis Hernandez. Jr.: President and Chief Executive Officer, Avid
  • Joop Janssen: CEO, EVS
  • Michelle Munson: President, CEO and co-founder, Aspera, an IBM company

 

 

3:35 pm – 3:50 pm

IABM Research Overview

Peter White, Chief Executive of the IABM (the trade group that represents suppliers of broadcast technology worldwide), will present an overview of the latest end-user research from the IABM along with selected excerpts from the recently completed IABM DC Global Market Valuation Report, the industry’s definitive supply-side market report.

Presenter:

  • Peter White: Chief Executive Officer, IABM

 

 

3:50 pm – 4:20 pm

The Broadcast Buyer Perspective on Business Models, Trends, and Technology Advancement

A panel of technology decision makers at leading broadcasters will offer informed perspectives on the most significant industry trends affecting technology budgets and the technology purchase decision. The audience will benefit from an emphasis on the business implications of technology decisions to broadcasters.

 

Moderator:

Joe Zaller – President, Devoncroft Partners

 

Panelists:

  • Phil Braden: SVP Technology and Applications, PCCW Global
  • Del Parks: SVP Operations & Engineering, Sinclair Broadcast Group
  • Todd Daly: EVP Operations & Systems Engineering, Fox Broadcasting
  • Andy Tennant: Technology Director, Studios, ITV

 

 

4:20 pm – 4:45 pm

Keynote: Vince Roberts: CTO and EVP Global Operations, Disney/ABC Television Group

ABC/Disney EVP and CTO Vince Roberts will highlight the major business model challenges facing the industry and the implications to technology development. Mr. Roberts will focus on the actual commercial factors driving technology deployments today, and what can reasonably be expected in the near future. Referencing initiatives at Disney relating to topics such as IP-based infrastructure and the Cloud, the audience will gain an improved understanding of how changes in media consumption and fundamental technology transitions, ultimately affect technology vendors.

 

 

4:45 pm – 5:15 pm

Investor Perspectives on Industry

This panel of leading investment professionals in the media and entertainment sector will offer the audience the institutional investor’s perspective on the industry. The discussion will include the panelist’s intelligence-gathering plans for the NAB Show, views on the trends that are driving investment dollars in the sector, and a review of the characteristics influencing the evaluation of an investment opportunity.

Moderator:

Jonathan Hodson-Walker: Managing Partner, Silverwood Partners

 

Panelists

  • Jeff Parks, Founding Partner, Riverwood Partners
  • Rohan Rai: Director, Wasserstein & Company
  • Sunit Mukherjee: Principal, Symphony Technology Group

 

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Related Content:

2014 NAB Show Session Details – Shifting Media Economics: Impact on Strategy, Finance, and Technology

Download the full agenda and speaker biographies here

Save the Date: Third Annual Media Technology Strategy Conference at the NAB 2014 Show

 

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© Devoncroft Partners 2009 – 2014 All Rights Reserved.

 

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Speakers Announced for Third Annual NAB Show Event — Shifting Media Economics: Impact on Strategy, Finance, and Technology

broadcast industry technology trends, broadcast industry trends, broadcast technology market research, Broadcast technology vendor financials, Broadcast Vendor M&A, market research | Posted by Joe Zaller
Mar 26 2014

If you are interested how the dramatic changes impacting the broadcast industry may shape its future, you won’t want to miss the third annual NAB Show event co-produced by Devoncroft, Silverwood Partners and the organizers of the NAB Show.

Now part of the NAB 2014 Broadcast Management Conference, this half-day session is called “Shifting Media Economics: Impact on Strategy, Finance, and Technology.” It will be held in room N235 of the Las Vegas Convention Center on Sunday April 6th from 1:30 p.m. to 6:00 p.m.

It will be held in room N235 of the Las Vegas Convention Center on Sunday April 6th from 1:30 p.m. to 6:00 p.m.

As always, this event features an intensive, information-packed series of presentations and panels that discuss the strategic trends and industry-specific factors influencing the value of media technology companies.

We’ve worked hard to put together an outstanding line-up of speakers and presenters, including top technology buyers, leading technology vendor CEOs, and private equity investors who will speak to the opportunities and challenges involved with financing the next phase of technology change in the industry.

The agenda offers attendees the informed opinions of technology purchasers, industry executives, market research organizations, and financial professionals. The event will serve as a thought-provoking kick-off to the 2014 NAB Show.

Highlights will include panel discussions featuring leading vendor CEOs, senior executives from leading broadcasters, and private equity investors who will speak to the opportunities and challenges involved with financing the next phase of technology change in the industry.

In addition, the audience will benefit from preliminary excerpts from the Devoncroft Big Broadcast Survey, the industry’s definitive demand-side market report, and the IABM DC Global Market Valuation Report, the industry’s definitive supply-side market report.

This session is intended for senior executives from technology vendors, end-users, and investment firms in the media technology sector.

Please click here for more information and/or to register.

 

Here’s the current agenda:

 

Shifting Media Economics: Impact on Strategy, Finance, and Technology

Sunday April 6, 2014

1:30 p.m. – 6:00 p.m.

Room N235 Las Vegas Convention Center

Part of the 2014 NAB Broadcast Management Conference

 

 

1:45 pm – 1:50 pm

WELCOME AND INTRODUCTION

Joe Zaller – President, Devoncroft Partners

 

 

1:50 pm – 2:15 pm

Strategic Industry Analysis: Valuations, M&A, and Equity Financing

Jonathan Hodson-Walker and Joshua Stinehour of Silverwood Partners will present an analysis of strategic industry trends and the specific factors that affect company valuations, including an updated perspective on transaction activity and valuations, vendor strategic considerations, and the current M&A environment along with near-term expectations.

 

Presenters:

  • Jonathan Hodson-Walker: Managing Partner, Silverwood Partners
  • Joshua Stinehour: Managing Director, Silverwood Partners

 

 

2:15 pm – 2:40 pm

The Broadcast & Media Technology Industry in 2014

Top broadcast analyst Joe Zaller will present a summary of key data derived from a variety of broadcast market intelligence projects including the newly published 2014 Big Broadcast Survey (BBS), the industry’s definitive demand-side market report. Discussion topics will include strategic drivers of broadcast technology spending, key customer investment areas, new technology deployment trends, and the most significant industry trends impacting end-user purchasing decisions.

 

Presenters:

  • Joe Zaller: President, Devoncroft Partners

 

 

2:40 pm – 3:15 pm

Business Strategy Perspective From Industry Executives

This panel of recognized executives at leading vendors will offer views on the critical drivers of company valuation in the industry, the best practices the panelist’s have learned on how to evaluate M&A opportunities, and the preferred approach for integrating M&A into overall growth strategies. The panelists will also consider the question of how broader technology trends are impacting the vendor community in the industry.

Moderator:

  • Joe Zaller – President, Devoncroft Partners

 

Panelists

  • Sam Blackman: CEO and Co-founder, Elemental Technologies
  • Louis Hernandez. Jr.: President and Chief Executive Officer, Avid
  • Joop Janssen: CEO, EVS
  • Michelle Munson: President, CEO and co-founder, Aspera, an IBM company

 

 

3:35 pm – 3:50 pm

IABM Research Overview

Peter White, Chief Executive of the IABM (the trade group that represents suppliers of broadcast technology worldwide), will present an overview of the latest end-user research from the IABM along with selected excerpts from the recently completed IABM DC Global Market Valuation Report, the industry’s definitive supply-side market report.

Presenter

  • Peter White: Chief Executive Officer, IABM

 

 

3:50 pm – 4:20 pm

The Broadcast Buyer Perspective on Business Models, Trends, and Technology Advancement

A panel of technology decision makers at leading broadcasters will offer informed perspectives on the most significant industry trends affecting technology budgets and the technology purchase decision. The audience will benefit from an emphasis on the business implications of technology decisions to broadcasters.

 

Moderator:

Joe Zaller – President, Devoncroft Partners

 

Panelists

  • Phil Braden: SVP Technology and Applications, PCCW Global
  • Del Parks: SVP Operations & Engineering, Sinclair Broadcast Group
  • Todd Daly: EVP Operations & Systems Engineering, Fox Broadcasting
  • Andy Tennant: Technology Director, Studios, ITV

 

 

4:20 pm – 4:45 pm

Keynote: Business Model Changes Technology Changes

ABC/Disney EVP and CTO Vince Roberts will highlight the major business model challenges facing the industry and the implications to technology development. Mr. Roberts will focus on the actual commercial factors driving technology deployments today, and what can reasonably be expected in the near future. Referencing initiatives at Disney relating to topics such as IP-based infrastructure and the Cloud, the audience will gain an improved understanding of how changes in media consumption and fundamental technology transitions, ultimately affect technology vendors.

Presenter:

Vince Roberts: CTO and EVP Global Operations, Disney/ABC Television Group

 

 

4:45 pm – 5:15 pm

Investor Perspectives on Industry

This panel of leading investment professionals in the media and entertainment sector will offer the audience the institutional investor’s perspective on the industry. The discussion will include the panelist’s intelligence-gathering plans for the NAB Show, views on the trends that are driving investment dollars in the sector, and a review of the characteristics influencing the evaluation of an investment opportunity.

Moderator:

Jonathan Hodson-Walker: Managing Partner, Silverwood Partners

 

Panelists

  • Marshall Haines: Managing Director, Symphony Technology Group
  • Jeff Parks, Founding Partner, Riverwood Partners
  • Rohan Rai: Director, Wasserstein & Company

 

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Related Content:

2014 NAB Show Session Details – Shifting Media Economics: Impact on Strategy, Finance, and Technology

Save the Date: Third Annual Media Technology Strategy Conference at the NAB 2014 Show

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© Devoncroft Partners 2009 – 2014 All Rights Reserved.

 

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EVS CFO Jacques Galloy Departs Company

Broadcast technology vendor financials | Posted by Joe Zaller
Jul 08 2013

Production and playout video server specialist EVS announced that EVP and CFO Jacques Galloy is leaving the company to take up new challenges and pursue other private and professional projects.

 

Jacques Galloy

 

Here’s the full statement from the company:

EVS Broadcast Equipment SA, the leading provider of live video production systems, today announces the departure of its Executive Vice President and Chief Financial Officer (CFO), Jacques Galloy (42), representing Gallocam sprl, scheduled for late 2013.

After 12 years of dedication to the development of the group, 12 months after the introductory period of the new CEO, and now that the new organization is in place, he plans to take up new challenges and pursue other private and professional projects. In accordance with the Board of Directors, he shall accompany the transition until the arrival of a new chief financial officer, at the latest at the end of the year.

The Board of Directors and the Group CEO Joop Janssen, praise his hard work and professionalism: “Jacques Galloy skills have been an important asset for EVS and he has contributed greatly to the development of the group. We want to thank him for his service and we wish him the best for the future.”

“Developing EVS during those twelve years with this great team was an amazing experience”, said Jacques Galloy.

Pierre Rion, Chairman of the Board of Directors, said: “I am delighted that Jacques Galloy continues his Board mandate at least until his term at the Ordinary Annual General Meeting in May 2014.”

 

In article about his departure from EVS, Belgian newspaper Le Vif, described Galloy as “more than a CFO,” saying he played a role at the company “well beyond the scope of his official duties,” referring to Galloy’s expanded role following the departure of EVS co-founder and CEO Pierre L’Hoest in September 2011. At that time, the company announced that it had modified the structure of its executive committee by placing Galloy and two other executives  in charge of its technical, commercial, operational, corporate and financial functions until a new CEO was appointed.

In May 2013 EVS named industry veteran Joop Janssen CEO.  Jassen had previously been CEO of the Videocom division of the Vitec Group. Jassen announced a new strategy and vision for EVS in February 2013, along with record revenue and profits.

According to the Le Vif article, although Galloy had to “return to a little more restraint from the commitment of the new CEO Joop Janssen,” his departure from the company is not the result of a disagreement with the company. EVS board chairman Pierre Rion  told Le Vif that Jassen’s appointment “in no way prompted [Galloy’s] departure. We are all in excellent terms and Jacques Galloy will also remain a director of EVS. It is therefore rather see his departure as a new personal challenge. ”

Galloy joined EVS from broadcaster RTL where he worked for five years in a number of senior financial position.  Prior to RTL, he was a senior auditor at PwC.

EVS, one of the broadcast industry’s most profitable technology vendors, reported a Q1 2013 net profit of €10m on revenue of €32.8m, up 15.8 and 9.2% respectively versus the same period a year earlier.

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Related Content:

Press Release: Chief Financial Officer Jacques Galloy Leaves EVS Group

Le Vif Article: CFO Jacques Galloy leaves EVS (translated from French)

EVS Revenue up 9.2% in Q1 2013, Driven by Strong Performance in APAC

EVS Posts Record Revenue in 2012, Unveils New Strategy and Vision for Future

Press Release: EVS Broadcast Equipment Appoints Joop Janssen as CEO

EVS CEO Pierre L’Hoest Steps Down (Sept 2011)

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© Devoncroft Partners 2009 – 2013. All Rights Reserved.

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EVS Revenue up 9.2% in Q1 2013, Driven by Strong Performance in APAC

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
May 21 2013

Production and playout video server specialist EVS reported that its revenue for the first quarter of 2013 was €32.8m, an increase of 9.2% versus the same period last year, and an increase of 28.4% versus the previous quarter.   Excluding impact of exchange rates and large rental contracts, (a large, but lumpy part of EVS’s revenue), the company’s Q1 2012 revenue was up 9.4% versus last year.

Net profit in the quarter was €10m, up 15.8% versus the same period a year ago, and up 128% versus the previous quarter.

EBIT (earnings before interest and tax) in the quarter was €14.5m, up 6.7% compared to the same period last year, and up 179% versus last quarter. The corresponding operating margin for the quarter was 44% down slightly from 45.1% last year, and up from 20.3% last quarter.

Gross margins for the first quarter were 79.6%, up from 77.6% last year slightly versus last year, and up from 67.3% last quarter (Last quarter, EVS company set-up a new provision of €1m for 2-years standard technical warranty. Excluding this provision, gross margins last quarter would have been 71.2%). The company attributed is margin expansion to the leveraging effect of higher sales on fixed operations costs.

Operating expenses increased by 19.2% versus the same period a year ago, due to increased headcount, the acceleration on some strategic R&D projects, and some costs relating to the setup of the company’s new strategy.

R&D expenses in the quarter were €5.8m, or 18% of revenue, up 14% from the same period last year, and down 9% versus last quarter, when the company brought on R&D contractors to accelerate certain R&D projects.

Selling and administrative expenses in the first quarter of 2013 were €5.6m, or 17% of revenue, up 25% versus the same period a year ago, and up 41% versus the previous quarter.

The company ended the quarter with 465 employees, up from 463 at the end of last quarter, and up 9% from 428 employees at the end of Q1 2012.  EVS added 48 full-time employees in 2012, including 25 in the fourth quarter in order to “accelerate some strategic R&D developments.” The still has 20+ open position, however it now says that it plans to reduce OpEx growth compared to previous years.

EVS CFO Jacques Galloy said the results were in line with the company’s expectations, and highlighted the fact that the company’s revenue is growing faster than the overall market. Galloy also said that he expects the second of 2013 to be stronger than the first half of the year as customers prepare for major sporting events in 2014.

 

Order Book:

The order book stood at €42.9m as of May 10, 2013, essentially flat compared to February 15, 2013.  This includes €32.8m worth of orders to be delivered in 2013 and €10.1 worth of orders, to be delivered in 2014 (up from €5.6m last quarter).

The company highlighted the fact that its ENM order book more than doubled in during the first quarter of 2013 to €7m, on the back of significant orders.

 

Segment Revenue:

As of this quarter, EVS has changed the way it reports segment revenue.  The company, which previously reported revenue in the “OB” and “Studio” segments, now breaks out its revenue by market (Sports, ENM and Big Events), by Region (APAC, EMEA and Americas) and by nature (Systems and Services).

Approximately 90% of former OB and 50% of the former studio segments are now allocated to “Sports,” while about 10% of former OB as well as 50% of studio is now allocated to ENM.

  • Revenue from sports-related applications during the first quarter of 2013 were €27.2m, or 82.8% of total group sales, an increase of 19.3% versus last year. The company said revenue from sports-related customers increased due to new OB and sports center projects across many countries.
  • Revenue from Entertainment, News & Media (ENM) during the quarter was €5.6m, or 17.2% of total group sales, down 22.5% compared to last year. The company attributed the decline in ENM to a large project delivered in Q1 2012, which was not repeated.
  • Systems revenue in the quarter was €31.2m, or 95% or total revenue, up 10.5% versus last year.  Services revenue was €1.6m, or 5% of total revenue, down 11.2% versus last year.

 

 

Geographic Revenue:

  • Revenue from EMEA in the first quarter of 2013 was €14.2m, down 19.4% last year, Sales in EMEA accounted for 43% of group revenue, down sharply from 59% last year.  The company said EMEA revenue was in-line with expectations, and that “Eastern Europe, UK and Northern Europe are most dynamic while Mediterranean area remains weak.”
  • Americas revenue for the first quarter of 2013 was €8.4m, up 50.1% versus last year. Americas accounted for 41.2% of group revenue, up significantly from 19% last year. The company attributed the growth in the Americas region to a strong order book rather than new deals.  EVS said it “shall be a challenge to match the record 2Q12 sales numbers of €12.7m as the order intake in the America’s is weaker than expected.”
  • Q1 2013 revenue from the APAC region was €10.2m, up 50.5% versus last year. The company says it is “gaining market share in this buoyant region which is delivering above expectations, in particular in Australia and Japan.” APAC accounted for 31% of total revenue in Q1 2013, up from 23% last year.

 

Outlook:

The company said it is “optimistic about the long term prospects of the group, underpinned by robust long term growth drivers,” and maintained its previously issued guidance.

Management said that sales in the second half of the year should be better than first half as it shall start benefiting from the traction of big sporting events in 2014 (also in emerging countries) as well as the first impacts of the new strategy

However, management cautioned that the company has low visibility in the current state of the economy, and that because the company “targets small niches where the combination of infrastructure reliability, applications agility and service quality are essential success criteria; tt should be clear that risk factors such as economic uncertainties, balance-sheets constraints of clients or major currencies fluctuations do not make short-term forecasting easy.”

EVS also said that its “operating expenses should grow by a low double digit rate, which should normally translate in lower margins.”

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“The first quarter delivered by our company is encouraging,” said EVS CEO Joop Janssen. “In an uncertain macro-economic environment, we posted again a solid performance. While some regions and countries go through challenging times more than others, the global reach and EVS’ strong brand and product position gives us confidence to deliver our ambitious plan. We are in particular proud of our very good progress in APAC where in addition to a strong market development our share in it seems to grow even more rapidly in the quarter. Our new strategy, launched in February of this year is now fully in place and very well received by our markets at the yearly global Media tradeshow (NAB) in mid-April. EVS launched an impressive number of new products in all of our four target markets. The execution of the new organization plans is well on track. As indicated earlier we have brought our headcount growth further under control while concentrating on leveraging our investments in new product innovation.”

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Related Content:

Press Release: EVS Reports First Quarter 2013 Results

EVS Q1 2013 Earnings Presentation

Previous Quarter: EVS Posts Record Revenue in 2012, Unveils New Strategy and Vision for Future

Previous Year: EVS Reports Record Revenue and Order Book in Q1 2012

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EVS Posts Record Revenue in 2012, Unveils New Strategy and Vision for Future

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
Feb 27 2013

Production and playout video server specialist EVS announced that its revenue for 2012 was €137.9m, a record for the company.  The company also posted an impressive EBIT margin of 44.4% for the full year.

Major sporting events such as the European football championships and the London Olympics were major drivers of the company’s business in 2012. Following a roaring start to the year, which saw EVS exceed the entire previous year’s revenue by the end of the third quarter of 2012, the company’s revenue slowed in Q4 in accordance with the guidance it provided earlier in the year.

Revenue for the fourth quarter of 2012 was €25.6m, down 17.5% versus the same period a year ago, and down 35% versus the previous quarter.  Excluding currency fluctuations and big event rentals, which are a major revenue driver for EVS, the company said its revenue declined 17.3% versus the fourth quarter of 2011.

Net profit in the quarter was €4.4m, down 42% versus the same period a year ago, and down 65% versus the previous quarter.

EBIT (earnings before interest and tax) in the quarter was €5.2m, down 60.1% compared to the same period last year, and down 73% versus last quarter. The corresponding operating margin for the quarter was 20.3%, down from 41.9% last year, and 48.8% last quarter.  The company called the lower EBIT margin “temporary,” and attributed it to “seasonally lower sales with growing costs.”

Consolidated gross margins for the quarter were 67.3%, versus 78% last year, and 79.4% last quarter.  The company attributed the lower margins to “the deleveraging effect of lower sales on growing fixed operations costs but also due to the set-up of a new provision of €1m for 2-years standard technical warranty.”  The company said that if this prevision were excluded that gross margins for the quarter would have been 71.2%.

SG&A expenses in the quarter were €3.9m, down from €5.5m last year.  R&D expenses in the fourth quarter were €6.4m, up 21% versus the same period a year ago.

 

Full Year Results

Revenue for the full year was 137.9m, an increase of 29% versus 2011. Excluding currency fluctuations and big event rentals, which are a major revenue driver for EVS, the company said its revenue increased 18% in 2012 versus 2011.

Net profit for 2012 was €41.7m up 30.2% versus the previous year.

Consolidated gross margin were 77.3%, down slightly from 2011.

Operating expenses increased by 15.3% in 2012 versus 2011.  The company said its 2012 OpEx included “one-off repositioning costs of €1.4m, that was partly offset by the release of a past litigation provision of €1. EVS said its underlying 14.3% increase in OpEx during the year was due to an “increased number of employees as well as investments in a new group ERP and lower R&D tax credits.”

Company CFO Jacques Galloy said: “After some years of sales stagnating at €110m, we closed 2012 with a record level, with sales growing by 29.0% and topping €137.9 million. We benefited from big sporting events rentals this year for about €10m million but our overall business grew strongly, especially in studios (+30.9%) and in the Americas (+32.7% at constant currency). The operating result (EBIT) grew by 39.0% compared to last year. As anticipated, 4Q12 delivered a weaker performance following a very strong sporting summer. The order book as of February 15, even though lower than at the beginning of 2012, is record for starting an uneven year, highlighting our strong competitive position and the successful investments in the past. We remain optimistic about the long term growth drivers of EVS while our short to medium term visibility remains limited as usual. 2013 shall not benefit from such big sporting events but our continued investments in innovation and expansion pave the way for positioning the company for the future”

 

Segment Results for 2012:

  • Studio revenue in 2012 was €63.3m, up 30.9% versus 2011 (up 17.3% on a constant currency basis and excluding big events).  The studio segment accounted for 46% of revenue in 2012, with outside  broadcast (OB) making up the remainder.

 

  • OB revenue in 2012 was €74.6.m million up 27.4% versus 2011 (up 18% on a constant currency basis and excluding big events).  OB sales represented 54% of total sales in 2012.

 

Regional Results for 2012:

  • 2012 revenue from the EMEA region was €74.6m (54.1% of total revenue), up 29% versus last year, and down 17% versus last quarter. EMEA revenue was driven by the 2012 summer Olympics, and increasing business in Eastern Europe and the Middle East.
  • 2012 revenue from the Americas was €36.7m, up 32.7% versus last year on a constant currency basis. EVS said sales in in the Americas were driven by a 67% increase in its studio segment 67% compared to 2011, and new OB vans and upgrades to HD.
  • APAC revenue for the year was €26.6m, an increase of 13% over 2011.    The company attributed its improved performance in Asia to increased demand in South Korea, Australia and China. EVS said that the continued high demand for European sports content in APAC is a long term driver for the region.

 

 

The company ended the year with 463 employees, up 11.6% (or 48 employees) since the end of 2011.  The company says it recruited 25 full-time employees during the fourth quarter of 2012 in order to “accelerate some strategic R&D developments.” EVS says that on average, it had 439 full-time employees in 2012, versus and 386 full-time employees in 2011, a 13.7% increase. One third of the company’s employees are based in one of its 20 global sale offices or development business units.

 

New Corporate Strategy

EVS also unveiled a new corporate strategy whereby it will focus on four key markets: Sports, Entertainment, News and Media.  EVS CEO Joop Janssen said the new strategy will “enable us to better deliver our investments in R&D and product innovation, help drive the expansion of our sales network, and continue to improve our user training and customer support and bring even better products to the market faster.”

The company says that this new strategy, along with a new corporate brand identity will be unveiled at the 2013 NAB show.

The company also announced a new management structure.

 

Outlook for the full year 2012

EVS said that while it is optimistic about its long term prospects, it reiterated its low visibility in the current state of the economy, and cautioned that the €10m of  event rental revenue achieved in 2012 is not repeatable in 2013, which is a “non-big event year.”

The company also said its operating expenses should grow by “a low double digit rate” in 2013, which could translate in lower margins.

EVS says that the second half of 2013 should be better than first half since spending for big sporting events to be held in 2014 will start to be committed at that time.

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Related Content:

Press Release: EVS Reports Record Revenue for 2012

Press Release: EVS announces a new market-focused strategy and vision

Previous Quarter: EVS Q3 2012 Revenue Jumps 32.3 Percent, YTD Revenue Surpasses all of Previous Year

Previous Year: EVS Revenue Declines 3.8% in 2011, But 2012 Order Book Hits Record Levels

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EVS Q3 2012 Revenue Jumps 32.3 Percent, YTD Revenue Surpasses all of Previous Year

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
Nov 15 2012

Production and playout video server specialist EVS announced strong revenue and profit for the third quarter of 2012, along with an industry-leading operating margin of almost 50 percent.

Revenue for the third quarter of 2012 was €39.5m, 32.3% higher than the same period a year ago, and down 8% versus the previous quarter.  Excluding currency fluctuations and big event rentals, which are a major revenue driver for EVS, the company said its revenue increased 6.2% versus the third quarter of 2011.

Net profit in the quarter was €12.7m, up 27.4% versus the same period a year ago, and down 20% versus the previous quarter.

EBIT (earnings before interest and tax) in the quarter was €19.3m, up 38.6% compared to the same period last year, and down 17% versus last quarter. The corresponding operating margin for the quarter was 48.8%, up from 46.6% last year, and 54.2% last quarter.

Order intake in the third quarter was up 10.7% versus last year, but decelerated compared to the first six months of the year, due to the usual market slowdown following the big events of this summer.  Through October 2012 orders in the OB segment were up 20.3%, while studio orders increased by 25.8% over the same period.  Studio orders currently represent 65 of the company’s open order book.

Consolidated gross margins for the quarter were 79.4%, versus 81% last year, and 81.2% last quarter.

Operating expenses (R&D, S&A) increased by 18.8% in 3Q12, mainly due to the increased number of new employees, the amortization of a new ERP system, and new top management.

SG&A expenses were €6.17m, up 27% versus last year, and up 9% versus last quarter. R&D expenses were €5.65, up 11% versus last year, and up 10% versus last quarter,

 

Segment Results:

  • Studio revenue in the third quarter of 2012 was €20.3m, up 76% versus last year (up 36.4% on a constant currency basis and excluding big events), and up 18% versus last quarter.  The studio segment accounted for 51% of revenue in the quarter, up from 40.2% last quarter, with outside broadcast (OB) making up the remainder.

 

  • OB revenue in Q3 2012 was €19.m million up 4.6% versus last year (down 11.2% on a constant currency basis and excluding big events), and down 25% versus last quarter.  OB sales represented 48.4% of total sales in 3Q12.

 

Regional Results:

  • Revenue from the EMEA region was €19.5m (49.3% of total revenue), up 16.29% versus last year, and down 17% versus last quarter. EMEA revenue was driven by the 2012 summer Olympics


  • Revenue from the Americas was €11.4m, up 47.8% versus last year on a constant currency basis, and down 10% versus the previous quarter. EVS said this was the second record quarter in a row for Americas revenue, thanks to new innovations for OB customers, increased penetration into the studio segment, and an enlarged product portfolio.

 

  • APAC revenue for the quarter was €8.6m, an increase of 37.7% versus last year, and an increase of 30% versus the previous quarter.    The company attributed its improved performance in Asia to strong business momentum in Japan after unusual weaker 2011, as well as increased demand in South Korea, Malaysia, Australia and mainland China.

 

 

Year-to-Date Results

Revenue for the first nine months of 2012 was €112.3m, up 47.9% versus the first nine months of 2011. Through the first three quarters of 2012, EVS has already surpassed its total revenue for all of 2011.

Net profit for 1H 2012 was €37.4m up 52.3% versus the previous year.

Consolidated gross margin were 79.6%, up from 78.6% last year.

Operating expenses for the first nine months increased by 17.1% due to increased headcount, a new ERP system, and lower R&D tax credits. The operating margin for the first nine months of 2012 was 48.8%, compared to 46.6% last year.

 

 

Outlook for the full year 2012

EVS said that with revenue of approximately €134m already secured for 2012, its sales should grow by more than 25% this year, and that its EBIT profit should be about 40% higher than last year.

The company says that although its current rate of business exceeds previously issued guidance, its management remains cautious in a difficult and competitive environment. Because of seasonality following major sporting events earlier in the year, the company expects its Q4 2012 results to be sequentially lower.

Although 2012 will be a record year for the company, EVS says it has limited visibility for 2013, and remains cautious for uneven year 2013, without major sporting events”.

New EVS CEO Joop Janssen, said he has “started to work on the future vision and strategy plan of the company, with a focus on realizing our growth potential towards the year 2016. The result of this inclusive process will be based on the strong current fundamentals that enabled EVS to become such a successful company. I plan to share this vision in early 2013”.

Company CFO Jacques Galloy, commented: “As expected, this third quarter is again very strong with sales growing by 32.3% to EUR 39.5 million. Summer games were really successful and brought EVS to a next level. Our business grew especially in studios (+76%) and in the Americas (+48% at constant exchange rate) over the quarter. Studio sales benefitted directly from dedicated rentals relating to the Summer games. Higher sales and good cost control led to a higher EBIT margin of 48.8% of sales in 3Q12 compared to 46.6% in 3Q11. Combining 9M12 sales and the order book, we had secured sales for around EUR 134 million at October 31. We confirm record FY12 sales shall exceed +25% growth, despite the expected usual Q4 slowdown following big summer sporting events. EBIT should grow by more than 40% this year.

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Related Content:

Press Release: EVS Reports Third Quarter 2012 Results

Previous Quarter: EVS Revenue Jumps 83 Percent in Record Q2 2012, CFO Calls Quarter “Awesome”

Previous Year: EVS Reports Q3 2011 Results, Issues Strong Guidance

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