Slide 1: Prime Focus Limited Q4 FY'14 Investor Presentation
PRIME FOCUS LIMITED Q4 FY’14 Investor Presentation
Slide 2: Safe Harbor
Safe Harbor Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factors that could cause our actual results to differ ma
Slide 3: Agenda
Agenda Q4 & 12 M FY’14* Performance Key highlights 05 Financial performance 06 Business updates 13 Company Overview 23 Annexure Shareholding pattern 31 Corporate structure 32 Financials 33 * Current financial year has been extended to 15 months 3 Q4 FY’14 Investor Presentation
Slide 4: Q4 & 12M FY'14 Performance
Q4 & 12M FY’14 Performance
Slide 5: Q4 FY14 Highlights
Q4’ FY14 Highlights: Spins a bigger web with PFT-DAX, 3D services for “The Amazing Spiderman 2” New businesses deliver blockbuster performance • Revenues from new businesses up 21% YoY in Q4’FY14 and 25% YoY in 12M FY14; 79% revenue share in 12M’FY14 • EBITDA from new businesses up 37% YoY in 12M’FY
Slide 6: 12M FY14: Growth driven by new businesses
12M’ FY14*: Growth driven by new businesses Figures in Rs Million; Consolidated financials Net Revenues EBITDA (w & w/o FX) PBT PAT 8,349 2,132 / 1,840 563 331 12M*FY14 10% 17%; 5% FY13 7,622 1,820 / 1,753 (567) (203) Net revenues up 10% YoY at Rs 8,349mn in 12M FY14 driven by 98% YoY growth in Prim
Slide 7: Revenue share of new businesses up from 69% to 79%
Revenue share of new businesses up from 69% to 79% Share of value added new businesses (PFT and ViewD+VFX) increase from 69% in FY13 to 79% in 12M FY14 FY13 12M'FY14 PP 21% PP 30% ViewD+VFX PFT ViewD+VFX 59% 19% 60% PFT 11% View D is 2D to 3D Conversion PP includes post production, DI and equipment
Slide 8: EBITDA share of new businesses up from 61% to 79%
EBITDA share of new businesses up from 61% to 79% Share of value added new businesses (PFT and ViewD+VFX) in EBITDA increase from 61% in FY13 to 79% in 12M FY14 Including the Backend, View D+VFX EBITDA margins are higher by ~6-7% FY13 12M'FY14 PP 21% PP 39% ViewD+V FX ViewD+VF 48% X 52% PFT 27% PFT
Slide 9: Segmental Analysis 12M FY14: Robust growth in new businesses
Segmental Analysis 12MFY14: Robust growth in new businesses Figures in Rs Million; Consolidated financials Segment-wise revenues FY13 12M'FY14 11% 4,995 4,483 -25% 98% 2,330 1,600 1,753 809 ViewD+VFX PFT PP Segment-wise EBITDA Segment-wise EBITDA Margins ViewD+VFX PFT PP 31.7% FY13 12M'FY14 29.5% 95
Slide 10: Q4 FY14: Revenues up by 20% YoY
Q4’ FY14: Revenues up by 20% YoY Figures in Rs Million; Consolidated financials Net Revenues EBITDA (w & w/o FX) PBT PAT Q4FY14 2,366 424 / 514 9 (72) (22)%; (11%) 20% Q4FY13 547 / 577 1,969 (150) 124 Net revenues up 20% YoY at Rs 2,366mn in Q4FY14 driven by growth in all businesses EBITDA at Rs 424
Slide 11: Segmental Analysis Q4FY14: Revenue up in all businesses
Segmental Analysis Q4FY14: Revenue up in all businesses Figures in Rs Million; Consolidated financials Segment-wise revenues Q4'FY13 Q4'FY14 11% 1,403 1,264 17% 72% 456 534 429 249 ViewD+VFX PFT PP Segment-wise EBITDA Segment-wise EBITDA Margins ViewD+VFX PFT PP Q4'FY13 Q4'FY14 36.1% 33.3% 358 28.4%
Slide 12: Debt profile
Debt profile Consolidated debt of $134.2mn (Rs 8,021.6mn) in March 2014 compared to $120.8mn (Rs 7,459.3mn) in December 2013 largely due to PFT optionally convertible debentures (OCDs) issue that closed on 31st March During the quarter, company repaid ~ Rs 102mn of term loans / buyers credits (essen
Slide 13: Key projects delivered in the last quarter
Key projects delivered in the last quarter Hollywood Bollywood Jai Ho Gunday (VFX, DI, Camera) (DI) The Amazing Spiderman 2 (3D Conversion) Bewkoofiyan (DI) TVCs Noah Iceman 3D Indigenous (3D (3D Conversion) (VFX) Conversion, Exc lusive) 13 Q4 FY’14 Investor Presentation
Slide 14: PFW - Ongoing announced projects - Hollywood
PFW - Ongoing announced projects - Hollywood Sin City: A Dame to Kill For (2500+ Into the storm Transformers: Age shots, VFX & 3D Warner Brothers of extinction Conversion, Exclusi (VFX) (3D Conversion) ve Partner) Seventh Son (1700+ shots, 3D Maleficent Conversion, Exclusi (3D Conversion) The Gunman
Slide 15: Upcoming projects and new wins - India
Upcoming projects and new wins - India Kochadaiyaan Heropanti (DI) (VFX, DI) Humshakals Bang Bang (VFX,DI, Camera) (VFX, DI) The Villian Phantom (VFX, DI) (VFX, DI) 15 Q4 FY’14 Investor Presentation
Slide 16: Namit Malhotra nominated to Board of Governors of International 3D Society
Mr. Namit Malhotra nominated in Board of Governors of International 3D society PFW’s Founder and CEO nominated to Board of Governors of International 3D Society The International 3D & Advanced Imaging Society has announced its 2014-15 officers and Board of Governors. PFW’s Founder and CEO Namit Malh
Slide 17: Prime Focus partners FICCI FRAMES 2014
Prime Focus partners FICCI FRAMES 2014 Prime Focus Limited is session co-partner at FICCI FRAMES 2014 PFL was the session co-partner at FICCI FRAMES 2014, Asia's largest media and entertainment industry conclave to co-present all tracks (Film, Broadcast, Digital) The event was held from March 12-14
Slide 18: Prime Focus India wins FICCI-BAF awards
Prime Focus India wins FICCI-BAF awards Prime Focus India won new accolades for its creative services at the prestigious FICCI BAF (Best Animated Frames) awards for 2014 FICCI BAF Award’14 for 24 series - Best TV Series (India) FICCI BAF Award’14 for Lego Animation Series - Best Animation TV Series
Slide 19: PFT - Strategic expansion in North America with acquisition of DAX
PFT - Strategic expansion in North America with acquisition of DAX Company Overview • DAX is the provider of production workflow and media asset management applications and services to the entertainment industry • Designed to maximize efficiencies throughout the content creation lifecycle A Primetim
Slide 20: PFT – On accelerated growth path with new wins
PFT – On accelerated growth path with new wins Quarter highlights: Revenue by contract type 12M FY14 • Signs $1.2mn deal with South Africa’s largest broadcaster, for cloud media services • Chosen as content packaging and workflow automation partner for Aamir Khan Productions’ Satyamev Jayate Project
Slide 21: PFT restored AP Archive Digitisation wins Focal International Award 2014
PFT restored Associated Press Archive Digitisation wins Focal International Award 2014 PFT designed workflow helps AP Archive win Focal International Award for Digitisation project spanning 2 years and 2 countries AP Archive, the film and video archive of The Associated Press won a 2014 Focal Intern
Slide 22: Chairman Naresh Malhotra gets Dadasaheb Phalke Award
Chairman Mr. Naresh Malhotra gets Dadasaheb Phalke Award Mr. Naresh Malhotra, Chairman of Prime Focus, received the prestigious and much coveted Dadasaheb Phalke Award this year, for his immense contribution to, and excellence in the video and films industry. He was honoured at a ceremony held in Mu
Slide 23: Company Overview
Company Overview
Slide 24: Leading Indian 'Media & Technology' MNC
Leading Indian ‘Media & Technology’ MNC Only integrated player offering full bouquet of creative and technology-based services World leader in creative services (3D conversion, VFX and post production) ViewD+VFX (Revenue - 60%*) • ~30% global market share in 3D conversion • Established leadership in
Slide 25: Offering a full bouquet of Creative and Technology services
Offering a full bouquet of Creative and Technology services Prime Focus Creative Services Technology Services Prime Focus World & Prime Focus India Prime Focus Technologies CLEAR – Media ERP; DAX – Digital 3D Conversion Dailies ® VFX Content Operation Services Animation Preparation & Localization Mo
Slide 26: With marquee clientele across the globe
With marquee clientele across the globe Creative services Technology services Leading Hollywood and Bollywood Leading broadcasters, studios, brands, sports studios and digital businesses DAX clients 26 Q4 FY’14 Investor Presentation
Slide 27: Partnered top grossers in Hollywood, Bollywood, hit ad campaigns
Partnered top grossers in Hollywood, Bollywood, hit ad campaigns Hollywood blockbusters 100+ Bollywood movies Award winning TVCs (last 5 years) Dhoom 3 Gravity DI World War Z First Indian film to Exclusive 3D cross Rs 5bn box Exclusive 3D Conversion Partner office collections Conversion Partner Over
Slide 28: Effective, profitable model spanning geographies
Effective, profitable model spanning geographies Tax incentives London Strong domestic TV and 2D-3D & VFX commercials market Tax incentives 17,000 sq ft Language and 125 artists, 100 freelance Vancouver cultural Post Production – VFX & 2D-3D similarities Broadcast & Advertising 22,000 Sq ft Low-cost
Slide 29: Annexure
Annexure
Slide 30: Shareholding pattern
Shareholding pattern As on 31st March 2014 Outstanding shares – 18.5 mn Public & Major Non-Promoter % Others 21.2% Shareholders shareholding Standard Chartered PE 19.7% Promoters Rakesh Jhunjhunwala 6.1% 41.6% Top Class Capital Markets Pvt Ltd 4.5% Corporate ICICI Prudential Dynamic Plan 3.8% Bodies
Slide 31: Corporate structure
Corporate structure Prime Focus Ltd (India) 65% 76% 100%* Prime Focus London Prime Focus PF World NV PLC Technologies (Netherlands) (UK regd) (India) Operations in the UK Operations in India, the Operations in India, the UK and North America UK and North America Provides post production (NA) service
Slide 32: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement % Chg % Chg Particulars (Rs mn) Q4 FY'14 Q4 FY'13 Q3 FY'14 12M FY'14 12M FY'13 % Chg YoY YoY QoQ Net sales / income from operations 2,366.0 1,969.0 2,136.8 20.2% 10.7% 8,348.9 7,621.6 9.5% Total Expenditure 1,852.2 1,391.75 1,688.8 33.1% 9.7% 6,508.8 5,868.7 10.9
Slide 33: About Us
About Us Prime Focus Limited, a global leader in media and entertai-ent industry services employs over 4,300 professionals in 11 cities across 3 continents and 5 time zones. We provide end-to-end creative and technical services including visual effects, stereo 3D conversion, video/audio post-product
Slide 34: About Prime Focus Limited
About Prime Focus Limited Prime Focus Limited, a global leader in media and entertai-ent industry services employs over 4,300 professionals in 14 cities across 3 continents and 5 time zones. We provide end-to-end creative and technical services including visual effects, stereo 3D conversion, video/a