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Belgium broadcast equipment maker EVS predicts slowdown of its business in 2015

Belgium broadcast equipment maker EVS predicts slowdown of its business in 2015

BRUSSELS: Belgium broadcast-equipment maker EVS predicted dull activity in its business in 2015 due to less sporting events and clients postponing investments in live production equipment.

As an odd year, 2015 has fewer of the large sporting events such as the Olympic Games and soccer championships to drive EVS’s sales.

The group said its order book in February was some 40 percent below the level seen a year earlier.Management explains this slowdown by macroeconomic headwinds and longer investment cycles,” the group said in a statement.

The company’s revenue fell about 21 percent in the fourth quarter of 2014 to 30.5 million euros ($34.8 million), broadly in line with the 30.7 million expected in a Reuters poll of three analysts. ($1 = 0.8761 euros) (Reporting by Robert-Jan Bartunek; Editing by Prateek Chatterjee)