EVS Broadcast Equipment: Strong focus on innovation allows EVS to benefit from "innovation box" regime in Belgium
Publication on July 19, 2018, 6.30pm CET
Regulated information - privileged information
EVS Broadcast Equipment SA: Euronext Brussels (EVS.BR), Bloomberg (EVS BB), Reuters (EVSB.BR)
EVS Broadcast Equipment SA, the leading provider of live video production systems, starts to benefit from "Innovation box" regime in Belgium. This regime allows Belgian companies to benefit from deductions on profits generated by innovative revenue.
"As strong leader in the live video production market, EVS constantly innovates by launching new products and improving existing ones," said Pierre De Muelenaere, CEO ad interim. "Over the years, EVS has built a strong team of more than 250 engineers working on innovation in its headquarters in Liège, but also in our developments centers in Brussels, Paris, Toulouse and Darmstadt."
In total, EVS invests more than EUR 25 million every year in research and development activities.
Thanks to the demonstration of the innovative nature of the EVS activities made the Federal Public Planning Service of Science Policy (Belspo), and thanks to the recent validation by the Office for Advance Tax Rulings, EVS will record a one-time tax deduction of EUR 6.6 million in 2Q18 in relation with 2H16 and FY17 (as the regime is available since July 1, 2016, relating to intellectual property rights on software). As the tax deduction mainly depends on the revenue level, the exact amount for 1Q18 and 2Q18 will be communicated on August 30, together with the first half 2018 results.
Axel Blanckaert, CTO of EVS, said: "This kind of incentive is very positive and reinforces EVS in its willingness to build strong R&D capabilities in Belgium, next to our other development centers abroad".
| For more information, please contact: |
Yvan ABSIL, CFO
Geoffroy d'OULTREMONT, Vice President Investor Relations & Corporate Communication
EVS Broadcast Equipment S.A., Liege Science Park, 13 rue du Bois Saint-Jean, B-4102 Seraing, Belgium
Tel: +32 4 361 70 13. E-mail:firstname.lastname@example.org; www.evs.com
Forward Looking Statements
This press release contains forward-looking statements with respect to the business, financial condition, and results of operations of EVS and its affiliates. These statements are based on the current expectations or beliefs of EVS's management and are subject to a number of risks and uncertainties that could cause actual results or performance of the Company to differ materially from those contemplated in such forward-looking statements. These risks and uncertainties relate to changes in technology and market requirements, the company's concentration on one industry, decline in demand for the company's products and those of its affiliates, inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on pricing resulting from competition which could cause the actual results or performance of the company to differ materially from those contemplated in such forward-looking statements. EVS undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
| About EVS |
EVS is globally recognized as the technology leader for live video production. The company introduced Live Slow Motion replay in 1994, and has continued to build on its reputation for quality and reliability with solutions that enhance live sports, entertainment and news content. Innovations - such as the C-Cast multimedia platform and DYVI IT-based switcher - are raising the bar for live production enrichment, management and distribution. Broadcasters, rights owners, producers and venues alike use EVS to maximize the value of their productions and increase revenue streams. The company is headquartered in Belgium with around 500 employees in offices in Europe, the Middle East, Asia and North America, and provides sales and technical support to more than 100 countries. EVS is a public company traded on Euronext Brussels: EVS, ISIN: BE0003820371. For more information, please visit www.evs.com