EVS lowers 2026 target to 190-205 M€, down from 220-240 M€ previously
The Liège-based specialist in video equipment for live television production has reduced its revenue target below its previous range and below analyst expectations. Its chief financial officer anticipates a negative impact on the profitability of the fiscal year.
New 2026 revenue range: 190 to 205 million euros
EVS published on October 7, 2026, at 10 p.m. and after the close of the Brussels Stock Exchange, a revision of its revenue outlook for the fiscal year ending December 31, 2026. The group now expects revenues between 190 and 205 million euros. The range communicated until now ranged from 220 to 240 million euros. The upper end of the new range is therefore below the lower end of the previous one.
This revision also places the target below the level of the previous fiscal year. In 2025, whose accounts were published on March 15, 2026, EVS had achieved revenue of 208.13 million euros. Even by reaching the upper end of its new range, the group thus anticipates a decline in revenue from one year to the next.
The gap also concerns market expectations. According to the consensus of analysts dated October 3, 2026, 2026 revenue was expected on average at 232 million euros, within a range of estimates ranging from 227 to 238 million. The new guidance is entirely below the low point of these estimates.
The press release was issued as regulated and privileged information. Chief Executive Officer Serge Van Herck explained that the slowdown in order intake observed in September, combined with the extension of customer investment decision cycles, leads the group to no longer expect to achieve its initial 2026 guidance.
September orders below expectations, projects postponed to 2027
Order intake in September was significantly below the level anticipated by the company. This flow feeds the revenue recognized as deliveries are made. Furthermore, investment decisions by a number of customers are taking significantly longer than expected, particularly due to the continuing deterioration of the global geopolitical situation.
These delays have a numerical translation: commercial opportunities representing approximately 25% of the project portfolio whose realization was expected in the fourth quarter of 2026 have been postponed to 2027. This is compounded by the cancellation of a number of opportunities planned for 2026, due to budget constraints among customers.
EVS clarifies that these developments primarily concern the timing of order intake and revenue recognition. The opportunities involved remain subject to customer decisions, normal competitive play as well as the timing of order placement and deliveries.
Serge Van Herck indicated that, while the timeline of a significant number of customer decisions has slipped beyond the current fiscal year, the vast majority of underlying commercial opportunities remains being pursued. The group thus distinguishes two components in the revision: project deferrals to 2027 and cancellations related to budgets.
2026 profitability guidance communicated on November 17
EVS is currently assessing the impact of this revision on its profitability, taking into account the expected business mix, order conversion and the operating leverage effect over the last months of the year. An updated profitability guidance for 2026 will be communicated with the third quarter activity update on November 17, 2026 after market close.
Chief Financial Officer Christophe Piron stated that the revenue revision should have a negative impact on 2026 profitability, the magnitude of which will depend on these same parameters. He was confirmed on a permanent basis in his role on September 11, 2026, following an interim period that began in May 2026.
As a reminder, fiscal year 2025 resulted in operating income of 43.34 million euros and net income of 38.55 million euros. Management indicates remaining focused on customer relationships, execution discipline and cost control, while monitoring the evolution of customer decision timelines and the geopolitical situation.
