Posts Tagged ‘Vitec’

Vitec 2011 Results: Videocom Up 12 Percent, Bexel Down 7.9 Percent Versus 2010

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
Mar 05 2012

UK-based Vitec Plc, which owns a dozen companies in the broadcast industry, announced that recorded pre-tax profit of £33m on revenue for the full year 2011 was £351m

As shown below in a slide from the company’s investor presentation, Vitec operates in several markets, including broadcast, photographic and government / military.  This post looks only at those that relate to the broadcast industry – the company’s “Videocom” and “Services” divisions, which sell primarily to broadcast industry customers.  The Services Division is comprised entirely of equipment rental specialist Bexel.

 

Videocom Revenue Grows 12 Percent in 2011

Videocom revenue for 2011 was £136.2m, up 12% versus 2010.  Revenue grew 18.4% on an organic basis after adjusting for the acquisition of antennae specialist Haigh-Farr and the disposal of Clear-Com in the prior year.  Operating profit for the year was £12.7m, up 51.2% or 31.0% in organic constant currency terms.

The company said that sales of camera supports, prompters and bags products grew strongly in 2011, and that it received significant orders for the Sachtler Ace range of supports that was launched in September 2011 specifically for the business and industry user.

The continued adoption of LED lighting technology by major US, European and Asian broadcasters in both studio and news gathering applications was a strong driver for the company’s Litepanels business, which Vitec said grew by approximately 20% in 2011.

Vitec also said that its Anton/Bauer business grew strongly in 2011 driven by sales of batteries and chargers for traditional broadcast and film users, as well as achieving initial success in a new market of supplying batteries and chargers to power carts in hospitals.

The company also said that its IMT microwave systems business continued to win business in the broadcast market with noteworthy success in the US, Turkey, Russia and Brazil; and that its sales were up in the sports and entertainment segment in the US where this equipment is used to interview teams and their fans.

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Bexel Declines 7.9 Percent in 2011, Re-Focused for 2012

2011 revenue from Bexel, Vitec’s Services Division, was £31.6m, down 7.9% versus 2010, when the Winter Olympics were a strong revenue driver for Bexel. Operating profit for the year was £600,000, up from £400,000 in 2010 and included higher asset sales including one-off revenue and profits from the sale of a large system to a major customer.

Vitec says undertook a reorganization of Bexel in 2011, which included the closure of the Seattle branch office, the consolidation of engineering and logistics resources, and the establishment of a national sales team in the US to focus on key accounts.  The company says these changes will help Bexel to focus on large events such as major sporting and entertainment events, and to better serve of US and international clients.

Vitec says Bexel strengthen its relationship with US sports broadcaster ESPN during 2011, and that it is prepared for the 2012 Olympics in London.

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Related Content:

Press Release: The Vitec Group plc 2011 Full Year Results

Vitec 2011 Investor Presentation

Vitec Says Videocom Increases 8.7 Percent, Bexel Declines 22.8 Percent During First Six Months of 2011

Previous Year: Vitec Announces 2010 Results: VideoCom Revenue Falls, Services Post Strong Increase

 

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Vitec Says Videocom Increases 8.7 Percent, Bexel Declines 22.8 Percent During First Six Months of 2011

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
Aug 16 2011

UK-based Vitec Plc, which owns a dozen companies in the broadcast industry, announced its financial results for the first six months of 2011.

The company operates in several markets, including broadcast, photographic and government / military.  This post looks only at those that relate to the broadcast industry – the company’s “Videocom” and “Services” divisions.

Vitec’s Videocom division is comprised of a dozen brands that serve various parts of the broadcast industry: Anton/Bauer, Autoscript, The Camera Store, Litepanels, Microwave Service Company, Nucomm, OConnor, Petrol Bags, RF Central, Sachtler, Vinten and Vinten Radamec.

The company’s Services division is composed solely of broadcast rental & services provider Bexel.

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Videocom Revenue Up, Driven by Success in Russia, the Middle East and Asia

For the first half of 2011 Vitec’s Videocom revenue was £65.9, an increase of 8.7% versus the first six months of 2010. After subtracting a £5.3m contribution from Clear-Com, which was sold to HME in April 2010, organic sales growth at constant exchange rates increased by 22.8%, with double digit sales growth in all business units in the division.

Operating profit for the first six months of 2011 was £6m, an increase of 62.2% versus last year, and an increase of 42.5% in organic terms at constant exchange rates.

Operating margins for first half of the year were 9.1%, an improvement of 3% versus last year, or an improvement of 1.2% in organic terms at constant exchange rates.

The company said its broadcast business grew, particularly in Russia, the Middle East and Asia. However, Vitec’s broadcast sales and rentals in the US market were less buoyant due to “uncertainties over the economy.”

Camera support brands (Vinten, Sachtler and O’Connor) “enjoyed good growth in both the studio and on-location production segments”, driven by capital expenditure projects in the Middle East and Asia.

Robotics (Vinten Radamec) had several strategic wins during the period, including Sky Sports News and France 3.

Vitec said its Litepanels business had strong growth during the period, driven by an increasing number of customers changing from  conventional tungsten lights to new energy and environmentally efficient LED lights especially in the US.

Battery specials Anton/Bauer experienced steady growth in its traditional broadcast and film markets, especially in EMEA, and is “making good progress in identifying and addressing opportunities for the supply of batteries and chargers in the medical market.”

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Services Division — Bexel

Vitec said that revenue at Bexel was £14.2m during the first half of 2011m a drop of 22.8% versus last year (when it reported strong revenues from the Vancouver Olympics). Bexel’s operating profit ropped by £200,000 to break-even.

Significant Bexel contracts during the first half of 2011 include projects for Endemol, Fremantle and ESPN.

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Company CEO Stephen Bird said: “These results confirm that our strategy and its execution in 2011 are on track, which together with continued strengthening of our businesses in the Broadcast and Video and Photographic markets, have enabled us to grow the revenue and operating profits strongly in the first half. Our core Broadcast business has achieved an encouraging sales performance particularly into Russia, the Middle East and Asia.”

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Related Content:

Press Release: The Vitec Group – Half Year Results to 30 June 2011

Vitec First Half 2011 Investor Presentation

Vitec Interim Management Statement, May 2011

Vitec 2010 Full Year results presentation

Vitec Announces 2010 Results: VideoCom Revenue Falls, Services Post Strong Increase

Previous Year: Vitec Plc Reports 1H 2010 Results — Videocom Revenue Down 18%, Bexel Revenue up 45%

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Vitec Expects Full Year Profits Will Be Above Expectations

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
May 19 2011

The Vitec Group plc said in an interim management statement that it expects pre-tax profits for the full year to be slightly ahead of the top end of the range of current market expectations.  The company said that its trading in 2011 “has been encouraging, with a continued improvement in demand from all three markets” — broadcast, photographic and military.

The company’s Videocom division includes a dozen brands that serve various parts of the broadcast industry: Anton/Bauer, Autoscript, The Camera Store, Litepanels, Microwave Service Company, Nucomm, OConnor, Petrol Bags, RF Central, Sachtler, Vinten and Vinten Radamec.

Vitec also owns broadcast equipment rental and service provider Bexel.

Vitec says that it has seen steady improvement in demand from the broadcast market, and that revenue from both Camera Dynamics and Litepanels are up for the first four months of the year versus the same period a year ago.

Bexel has “had a good start to the year [but] as expected, revenue was lower than the corresponding period in 2010, which included the Vancouver Olympic Games.”

In 2010 Vitec had revenue of £121.6m in the broadcast and film markets. 2010 revenue from Bexel was £34.3m in 2010.

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Related Content:

Vitec Interim Management Statement, May 2011

Vitec 2010 Full Year results presentation

Vitec Announces 2010 Results: VideoCom Revenue Falls, Services Post Strong Increase

Vitec 2010 earnings call presentation to financial analysts.

Information about Vitec’s results for the first half of 2010 is here.

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More Broadcast Vendor M&A: Vitec Group Buys Photo Lighting and Accessories Vendor Lastolite

broadcast technology market research, Broadcast Vendor M&A | Posted by Joe Zaller
Mar 08 2011

Vitec announced that it has acquired the entire share capital of Henry Holdings Limited (“HHL”), for a cash consideration of up to £9.75m. HHL is the owner of Lastolite Limited in the UK (“Lastolite”).

Based in Coalville, Leicestershire, Lastolite employs approximately 80 people and is a leading designer, manufacturer and supplier of lighting control accessories and backgrounds for the photo, video and cinema industry. Established in 1986, Lastolite produces highly innovative products for the keen amateur and professional photographer. It is also the owner of the Colorama brand of paper backgrounds.

The Acquisition will complement Vitec’s existing range of Manfrotto lighting supports and LED lights with lighting control accessories, thereby strengthening the Company’s position in this part of the accessories market.

Lastolite will operate as a standalone business within Vitec’s Imaging and Staging Division. Lastolite’s existing senior management, including the Managing Director, Sean Henry, will be retained by the business reporting to the Divisional Chief Executive, Francesco Bernardi.

For the financial year ended 31 December 2010, Lastolite generated audited sales of £8m (of which £1.5m were to Vitec Group entities) and adjusted profit before tax of £1.4m. As at 31 December 2010, Lastolite had gross assets of £3.5m.

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Related Content:

You can read the full press Vitec release here.

Vitec Announces 2010 Results: VideoCom Revenue Falls, Services Post Strong Increase

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Vitec Announces 2010 Results: VideoCom Revenue Falls, Services Post Strong Increase

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
Mar 07 2011

UK-based Vitec plc said that its revenue from the broadcast and film markets in 2010 was £121.6m, a decline of 17.3% versus 2009. Taking into account currency fluctuations and the company’s reduced revenue resulting from the sale of Clear-Com to HME, revenue declined by 6.6 percent. 2010 revenue was also impacted by the end its BAS transition contract.

Vitec’s Videocom division includes a dozen brands that serve various parts of the broadcast industry: Anton/Bauer, Autoscript, The Camera Store, Litepanels, Microwave Service Company, Nucomm, OConnor, Petrol Bags, RF Central, Sachtler, Vinten and Vinten Radamec.

Revenue from the company’s services division (primarily equipment rental company Bexel) was £34.3m in 2010, an increase of 30.4% versus 2009, driven by major events including the Winter Olympics.

The company said that the broadcast market improved in all geographies, driven by a recovery in TV advertising and the continued transition to HDTV operations.

The company says that it sees multiple growth opportunities in the broadcast and video market, including:

  • LED lighting, which delivers significant energy saving over traditional lighting
  • Business and industry applications for existing products;
  • Microwave systems (outside the US)
  • Robotics as video production becomes more automated

 

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You can read the full Vitec 2010 earnings press release here.

The Vitec earnings call presentation to financial analysts is here.

Information about Vitec’s results for the first half of 2010 is here.

Information on Vitec’s sale of Clear-Com to HME is here.

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Vitec Says it Will Beat Profit Expectations, Appoints New CFO

Broadcast technology vendor financials | Posted by Joe Zaller
Feb 08 2011

UK-based Vitec Plc, which owns a large number of brands in the broadcast industry, said recently that it has had strong trading results and that it expects to report underlying pre-tax profits that are ahead of analyst consensus estimates.

The company also announced that Richard Cotton, Group Finance Director, has left the company for personal reasons.  The company has appointed Nick Humby as Interim Chief Financial Officer to oversee the finance function pending the appointment of a permanent replacement; the search for this replacement has commenced.  Nick has extensive experience in the broadcast industry. He was also Group Finance Director of Manchester United plc from 2002 to 2007.

Vitec’s Videocom division is comprised of a dozen brands that serve various parts of the broadcast industry: Anton/Bauer, Autoscript, The Camera Store, Litepanels, Microwave Service Company, Nucomm, OConnor, Petrol Bags, RF Central, Sachtler, Vinten and Vinten Radamec.  The company also owns broadcast rental & services provider Bexel.

Vitec Plc Reports 1H 2010 Results — Videocom Revenue Down 18%, Bexel Revenue up 45%

broadcast industry technology trends, broadcast technology market research, Broadcast technology vendor financials | Posted by Joe Zaller
Aug 25 2010

UK-based Vitec Plc, which owns a large number of brands in the broadcast industry, reported its financial results for the first six months of 2010.

The company operates in several markets, including broadcast, photographic and government / military.  This post looks only at those that relate to the broadcast industry – the company’s “Videocom” and “Services” divisions.

Vitec’s Videocom division is comprised of a dozen brands that serve various parts of the broadcast industry: Anton/Bauer, Autoscript, The Camera Store, Litepanels, Microwave Service Company, Nucomm, OConnor, Petrol Bags, RF Central, Sachtler, Vinten and Vinten Radamec.

The company’s Services division is composed solely of broadcast rental & services provider Bexel.

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Videocom Revenue Down 18%

The company said that demand in the broadcast segment strengthened during the first six months of 2010, following a 25% constant exchange rate decline in sales during the same period a year ago.  Broadcast revenue grew in all regions, but particularly in Asia and Europe, driven in part by the World Cup.

Revenue in the Videocom division dropped 18% during the first half of 2010 versus the same period a year ago.  Operating profit increased by 5.7% to £3.7 million and decreased by 15.8% in organic terms at constant exchange rates. Operating margin increased by 1.4pts to 6.1% and decreased by 0.4pts in organic terms at constant exchange rates.

On the broadcast side, the company also announced it is creating a new business unit, Vitec Group Tecnologias Ltda, in Sao Paolo Brazil, in order to focus on the emerging Latin American broadcast market, which is expected to be bolstered by the 2014 World Cup and 2016 Olympic games.

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Services Division – Bexel Up 45%

Meanwhile, Vitec’s services division saw its revenue for the first half of the year increase by 45%, helped by stronger broadcast market activity, and the Vancouver Olympics.  The company said Bexel supplied more than 25 tons of broadcast hardware and installed 48 miles of fiber optic cable for the Winter Olympics in Vancouver, and entered into a multi-year agreement with Panasonic to make 3D television production equipment available for rental, promoting greater content production by TV networks.

Bexel’s operating profit increased by £0.8 million to £0.2 million and increased by £0.7 million at constant exchange rates. Operating margin increased by 5.8pts to 1.1% and at constant exchange rates it increased by 5.2pts.

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Read the full Vitec earnings press release here.

See the Vitec investor presentation here.

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