Vista Group International Ltd · NZX:VGL
Vista Group International — Macquarie Conference 2017
31 slides from Vista Group International's conference presentation, May 4, 2017
Slide 1: Macquarie Conference Presentation May 2017
Macquarie Conference Presentation May 2017
Slide 2: Important notice
Important notice This presentation has been prepared by Vista Group International Limited (“Vista Group”). Information in this presentation: > is provided for general information purposes only, does not purport to be complete or comprehensive and is not an offer or invitation for subscription, purch
Slide 3: Group update Results highlights International Trends
• Group update • Results highlights • International Trends • Operating performance and trading metrics • Outlook • Questions PAGE 3
Slide 4: Vista Group – Results Highlights & Group Update
VISTA GROUP – RESULTS HIGHLIGHTS & GROUP UPDATE
Slide 5: Vista Group Update
VISTA GROUP UPDATE • Founded 1996 & listed on NZX/ASX in Aug 2014 with market cap of $187M; now $460M. CGR of 45% p.a VISTA ENTERTAINMENT SOLUTIONS • 530+ staff & offices in 10 offices: • Auckland, Sydney, London, LA, Dallas, Holland, Shanghai, Romania, Cape Town, Beijing • Completed the acquisition
Slide 6: The Strength of Vista Group
THE STRENGTH OF VISTA GROUP • Consistent strong revenue growth • Strong annuity revenue • Sustained profitability as we continue to invest • Positive operating cash generation • Dividend payer • Leading global position in an expanding film industry
Slide 7: Film production, distribution and exhibition value chain
PRODUCTION MANUFACTURING DISTRIBUTION WHOLESALE CINEMA EXHIBITION RETAIL MOVIEGOER CONSUMER THE BIG SIX Sony Disney Paramount YOU Warner Bros Hoyts Universal Event Legendary Entertainment Fox Reading Amblin Entertainment Lido Scott Free Productions Madman Wingnut Films Transmission Rialto FILMS $$$$
Slide 8: Result Highlights
Result Highlights • Strong 35% revenue growth for the consolidated Vista Group to $88.6m over FY2015 • Performance compared to FY2015 31 December 31 December NZ$m 2016 2015 Revenue 88.6 65.4 35.5% EBITDA1 17.6 15.1 16.6% Trading Net Profit 2 12.0 10.1 18.8% Net Profit Before Tax 53.0 10.1 724.1% • I
Slide 9: Vista Group – Trading Metrics
VISTA GROUP – TRADING METRICS TOTAL REVENUE ANALYSIS 30% AVERAGE REVENUE GROWTH PER YEAR FOR LAST 3 YEARS REVENUE ANALYSIS 100000 35% 90000 80000 70000 REVENUE GROWTH OVER FY2015 $000's 60000 *28% EXCL. ACQUISITIONS 50000 40000 Other 30000 32% Maintenance 20000 10000 License Fees INCREASE IN VALUE O
Slide 10: Financial Performance – Metrics
FINANCIAL PERFORMANCE – METRICS UNDERLYING EBITDA* TRADING RECEIVABLES CAPITAL INCREASE ↑ 2% POINTS IN LINE WITH ↑ $7.9M TO 22% REVENUE ISSUE OF NEW SHARES TO EXCLUDING CHINA TRANSACTION WEPIAO FOR 2.0% HOLDING FROM 2015 RECEIVABLE OF $35.5M OPERATING CASHFLOW NEW INVESTMENTS DIVIDEND + 5.4m $12.1m
Slide 11: International Trends Update
INTERNATIONAL TRENDS UPDATE ANDREW CRIPPS – PRESIDENT INTERNATIONAL DISTRIBUTION 20TH CENTURY FOX
Slide 12: Worldwide Box Office Trends
Worldwide Box Office Trends DOMESTIC AND INTERNATIONAL 2007-16 (USD) 45.0 CAGR TOT 40.0 38.6 4.3% 35.0 30.0 26.4 CAGR INTL. 25.0 27.2 5.5% 20.0 16.7 15.0 10.0 CAGR DOM. 5.0 9.6 11.4 1.9% - 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 INTERNATIONAL DOMESTIC
Slide 13: Worldwide Box Office Trends
Worldwide Box Office Trends DOMESTIC AND INTERNATIONAL 2007-16 (USD) 45.0 40.0 CAGR CHN 35.0 6.8 6.6 36.5% 30.0 0. 4 25.0 20.6 CAGR INTL 20.0 2.6% 16.3 15.0 10.0 CAGR DOM 11.4 5.0 9.6 1.9% - 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 INTERNATIONAL DOMESTIC
Slide 14: YOY Box Office (2016)
YOY Box Office (2016) 2016 BOX OFFICE vs. 2015 BOX OFFICE (LOCAL CURRENCY) 15% 12.1% 10.6% 10% 9.7% 8.5% 5% 5.0% 3.9% 3.6% 3.2% 3.3% 2.2% 1.6% 0% 0.0% -5% -10% -11.4% -15% US UK France Germany Spain Italy Russia Australia Japan Korea Mexico Brazil China
Slide 15: Worldwide admissions up ~5%
YOY Admissions (2016) Worldwide admissions up ~ 5% 15% 11.8% 11.1% 10.4% 9.0% 10% 8.1% 7.0% 6.3% 6.2% 5% 3.6% 0.0% 0% -1.6% -0.1% -5% -10% -11.5% -15% US UK France Germany Spain Italy Russia Australia Japan Korea Mexico Brazil China Admits millions 1,320 184 212 123 100 105 213 89 180 217 331 183 1,
Slide 16: Global Cinema Screens
Global Cinema Screens Vista Screen Count Total 165,800 180,000 163,550 160,000 152,142 12,200 142,215 134,588 11,710 140,000 129,866 11,177 10,694 41,750 120,000 10,315 40,665 40,424 100,000 39,597 39,874 80,000 66,000 56,106 41,206 47,349 60,000 37,151 40,000 20,000 42,803 42,814 43,265 43,661 43,6
Slide 17: Global Cinema Market Trends
Global Cinema Market Trends • CONSOLIDATION • PREMIUMIZATION • DATA • MARKETING
Slide 18: Operating Performance & Trading Metrics
OPERATING PERFORMANCE & TRADING METRICS
Slide 19: Vista Cinema
VISTA CINEMA Largest Group subsidiary outperformed growth forecasts for third year in a row. Revenue growth 20%+ in FY2016. 847 new cinema sites added (includes 161 from CCG) to bring global total to 5,557. In addition 285 installations at customer owned small retail outlets. Estimate 38% of large c
Slide 20: Vista share of world cinema market
87% CANADA 2,052/2,347 screens 26% EUROPE 4,845/18,953 screens 42% USA 13,413/31,913 screens 57% MIDDLE EAST 1,307/2,311 screens 23% ASIA 7,017/30,415 screens 97% CENTRAL AMERICA 6,543/6,750 screens 93% AFRICA 761/819 screens 22% SOUTH AMERICA 1,260/5,812 screens 95% AUSTRALASIA 1,698/1,788 screens
Slide 21: Veezi
VEEZI Site number growth of 52% to 532 at year end across 20 countries. Addressable market size approximately 25,000 Cinemas. ARR strong at $5,750 per annum per site ($480 per month). New agreement with Film Industry Organisation in Sweden with significant opportunity in 2017. French certification a
Slide 22: Movio
MOVIO On track with their mission: To revolutionise the way film distributors and cinema exhibitors interact with moviegoers. Movio Cinema Increased customers from 37 to 50 of the world’s largest cinema circuits including AMC (USA), Ster Kinekor (SA) and Vue (UK). Movio Media New multi-year deals si
Slide 23: MACCS & MaccsBox
MACCS & MACCSBOX MACCS – Movie ACCounting System Theatrical distribution software providing a logistics and financial solution. MaccsBox – Theatrical Value Chain Collects audited box office results (eBor) centrally and provides them to distributors, and enables automated invoicing and collection sys
Slide 24: Powster
POWSTER Provides world-leading film marketing products including interactive content to promote films. Marketing platform for movie studios, powering the world’s biggest films. One destination per film with all cinemas and show-times listed. 2016 All six major studios using Powster platforms in the
Slide 25: Cinema Intelligence
CINEMA INTELLIGENCE Provides business intelligence solutions for exhibitors, to enable optimising forecasting, planning and scheduling of movies. 2016 Opened LA office. Global expansion – running implementations on three continents. Released new forecasting module. 2017 Build more integration to Vis
Slide 26: Flicks
FLICKS Authoritative Australasian movie and cinema guide Moviegoer access nationally for every movie playing; cinemas, session times, booking links, videos and trailers, reviews (user and critical) plus editorial from Australasia’s best industry contributors. 2016 Best year for advertising revenues
Slide 27: Numero
NUMERO Tracks daily results at cinema level & reports to Film Studios, Distributors & Exhibitors SaaS product for film distributors and exhibitors 2016 Achieved nearly 100% collection in Australia and New Zealand markets Commenced moving major studios from trial licenses to full licenses Commenced c
Slide 28: New Developments
NEW DEVELOPMENTS • Vista Cloud Commenced platform change for our enterprise Vista Cinema product to provide customers the choice of an on premise or hosted deployment. First parts to be released in 2017. • Social Media App A new mobile social application based around films and television content • m
Slide 29: Outlook
OUTLOOK
Slide 30: Outlook
Outlook • Strong outlook for Global Film Industry • Revenue growth of the existing businesses is expected to be around 20% • Strong pipeline for 2017 in Vista Cinema • Strong cash position as the China transaction payments are now being received • Veezi expected to continue to grow with addition of
Slide 31: Questions
QUESTIONS
Vista Group International — Macquarie Conference 2017 on 6ix