Vista Group International Ltd · NZX:VGL
Vista Group International — FY2021 Earnings Presentation
28 slides from Vista Group International's earnings presentation, Mar 1, 2022
Slide 1: Annual Results 2021
Annual Results 1 March 2022 2021
Slide 2: Important notice
Important notice This presentation has been prepared by Vista Group International Limited ("Vista Group”). Information in this presentat + is provided for general information purposes only, does not purport to be complete or comprehensive, and is not an offer or invitation or subscription or purchas
Slide 3: Agenda
Agenda O1 Vista Group summary Kimbal Riley, Group Chief Executive 02 Financial results Matt Cawte, Chief Financial Officer 03 Operational highlights Kimbal Riley, Group Chief Executive 04 Outlook o5 QtA
Slide 4: Enhancing the moviegoer experience
Enhancing the moviegoer experience
Slide 5: Vista Group - 2021 Summary
Vista Group - 2021 Summary Vista delivers big screen result ° The future is bright - our industry is back ! * Cinema and theatrical experience remains vital component of the economic model of film * We have delivered on all our 30 June projections * Early signs indicate the longer-term outlook for V
Slide 6: Financial results
Financial results
Slide 7: Financials
Financials Total Revenue $98m ..», EBITDA? $ 7 m +$18m Recurring Revenue! $81Mm -4«. Operating Cashflow $11 MM +277% SaaS Revenue! $28m +16%
Slide 8: Trading performance
Trading performance NZ$m (Year Ended) 31 Dec 2021 31 Dec 2020 % Change Restated! Revenue 98.1 87.5 +12% Expenses (91.1) (99.7) -9% Foreign exchange gains (0.5) 08 EBITDA2 6.5 (11.4) +157% Depreciation and amortisation (13.9) (17.7) -21% Net finance costs (1.5) (1.5) - Other (impairment, share of ass
Slide 9: Last months compared
Last 24 months compared Strong 2H21 result, on guidance NZ$m % % % (Six Months - Unaudited) 1H20 Change 2H20 Change 1H21 Change 2H21 Good recurring revenue growth, Recurring Revenue! 32.9 1% 32.6 414% 37.3 +18% 441 including new revenue Non-Recurring Revenue! ng 15% 10.1 -25% 7.6 +20% 91 Non-recurri
Slide 10: Changes in revenue
Changes in revenue 120 100 80 60 40 20 0 = = 2017 2018 2019 2020 2021 mmm License revenue Other revenue Recurring revenue Le 2022 30% 25% 20% 15% 10% 5% 0% License % The pandemic has significantly impacted our customers ability to invest in technology In parallel we are transitioning from on-premise
Slide 11: Operating segments
Operating segments NZ$m Cinema Movio AGC_ Corporate Total Revenue 66.5 15.1 16.5 - 98.1 EBITDA2 13.8 2.0 13 (10.6) 6.5 EBITDA % of revenue 21% 13% 8% 7% NZ$m Cinema! Movio AGC Corporate! Total Revenue 58.3 14.8 14.4 - 87.5 EBITDA? (2.5) (0.1) (0.3) (8.5) (11.4) EBITDA % of revenue -4% -1% -2% -13% R
Slide 12: Financial position
Financial position NZ$m 31Dec 2021 31 Dec 2020 % Change Restated Cash 60.4 67.1 -10% Receivables and other current assets 39.2 39.7 1% Non-current assets 143.5 145.9 -2% Current liabilities 47.6 44.8 6% Non-current liabilities 35.7 461 -23% Net assets / total equity 159.8 161.8 -1% Strong balance sh
Slide 13: Cashflow
Cashflow NZ$m (Year Ended) 31 Dec 2021 31 Dec 2020 % Change Receipts from customers 105.7 86.6 22% Payments to suppliers & employees (92.2) (90.9) 1% Tax & interest 1) (2.6) COVID-19 related wage 31 5.9 subsidies (NZ, AU, UK and NL) COVID-19 related tax deferrals (2.2) 4.0 Cash flow from operating a
Slide 14: Operational highlights
Operational highlights
Slide 15: Vista Cinema
Vista Cinema Vista Cinema provides cinema management software to the world’s largest cinema exhibitors Tremendous pickup in activity from cinemas over the year Recurring revenue growth sustained, reducing reliance on one-off revenues Mexico development hub fully staffed to initial plan with 2 squads
Slide 16: Vista Cinema site count
Vista Cinema site count! 30 Jun New Closures 31Dec Market Channel 2021 Sites / Losses 2021 Direct 5,125 54 (51) 5,128 India 1,441 68 1,509 Enterprise China 337 88 425 Total Enterprise 6,903 210 «1 7,062 Veezi 852 81 933 Independent Veezi China 153 (6) 147 TOTAL 7,908 291 (57) 8,142 Enterprise Market
Slide 17: The Vista Cloud journey
The Vista Cloud journey What we’ve achieved to date * Technology platform established for Vista Cloud and Vista Digital * First Vista Cloud customer live Where we are now First commercial offerings of Vista Cloud and Vista Digital in market Delivering immediate customer and moviegoer value Customer
Slide 18: Vista Cloud - Tracking against our original plan
Vista Cloud ¢ Tracking against our original plan What we said in 2019 Recurring revenue! of 80%+ in 5008 Yes (2021) Slower revenue growth in 2021 / 2022 Yes EBITDA? target upper-30% in 2025 On Track 35% of customers transitioned in 2025 On Track Larger TAM - 1.5-2.5x maintenance SaaS platform in mar
Slide 19: Movio
Movio Global leader in data-driven marketing, providing products and services to exhibitors, studios and film advertising specialists Strong use of Movio Cinema by exhibitors, volume of connections up to 3.2B - higher than pre-pandemic (2.3B) Next generation Movio Cinema product in Alpha testing Res
Slide 20: Additional Group Companies
Additional Group Companies Box office reporting and world leading theatrical distribution software Solid financial results with revenue and EBITDA! growth Growing year for Mica (Maccs) with customers now numbering 19 (up from 6) Numero live reporting in 35 territories Strong engagement with major st
Slide 21: Associate companies
Associate companies Revenue well up on 2020, but still behind 2019 Trading conditions remain challenging with majority of revenue directly linked to box office Cash flow is self-sustaining New customer Perfect World contributing - likely only larger circuit to change supplier in 2021
Slide 22: The Outlook
The Outlook
Slide 23: Vista Group Strategy
Vista Group Strategy OT Support our customers to rebuild their business O2 Expand our core platform that delivers value to our customers and connects moviegoers OS Create and invest in new opportunities 23
Slide 24: Industry outlook
Industry outlook * Strong and stable slate for 2022 and beyond, anchored around tentpole releases * Cinemas open with few operating restrictions and moviegoers attending in big numbers * Moviegoing has cemented its pivotal role as a key element of the film industry * Cinemas are not yet in robust fi
Slide 25: Vista Group Outlook
Vista Group Outlook * Our purpose is to bring more people together to enjoy the magic of movies and cinema * Truly excited about the potential for our platform strategy - likely to be more substantial over time than we originally thought * Revenue growth for 2022 projected to be 20% - $118-123m - dr
Slide 26: Questions
Questions
Slide 27: Thank you
Thank you
Slide 28: Slide 28
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