Emerald Holding, Inc. · NYSE:EEX
Emerald — Q3 2024 Earnings Presentation
18 slides from Emerald's earnings presentation, Oct 30, 2024
Slide 1: Emerald Holding, Inc. Third Quarter 2024
Emerald Holding, Inc. Third Quarter 2024 October 30, 2024 Exhibit 99.2
Slide 2: Legal Disclaimer
Legal Disclaimer Forward-Looking Statements The information provided in this presentation is for general informational purposes only. This presentation contains certain forward-looking statements regarding Emerald Holding, Inc. and its subsidiaries (the “Company”), including, without limitation, sta
Slide 3: Participants
Participants Hervé Sedky President and Chief Executive Officer David Doft Chief Financial Officer
Slide 4: Key Q3 2024 Takeaways
Key Q3 2024 Takeaways Accelerated portfolio optimization efforts through the discontinuation of 20 smaller, unprofitable events totaling $20 million of historical run-rate revenue Updating Full Year 2024 outlook to at least $400 million in Revenue and $100 million in Adjusted EBITDA primarily based
Slide 5: Revolutionizing the Trade Show Model
Revolutionizing the Trade Show Model Integrating technology and first party data to create a next-generation B2B platform Collection of leading B2B trade shows and conferences that bring together industry-specific communities Revenue is generated from the production of trade shows and conference eve
Slide 6: Enduring Value of Trade Shows
Enduring Value of Trade Shows Source: Deloitte. The CMO Survey: Managing Marketing Technology, Growth and Sustainability – Highlights and Insights Report (Spring 2024). Source: Events Industry Council & Oxford Economics. (2023) 2023 Global Economic Significance of Business Events. Source: Harvard Bu
Slide 7: Three Pillars of Value Creation
Three Pillars of Value Creation Emerald’s focus is on maximizing value of operations and expanding offerings Action the holistic consolidated customer database 3-year brand operating plans across portfolio Value-based pricing structure Rigorous, perpetual brand reviews Improved customer retention Hi
Slide 8: Third Quarter Adj. EBITDA, Free Cash Flow, Net Income
8 Adj. EBITDA(1) Free Cash Flow(2) Net Income (Loss) Diluted Income (Loss) Per Share ($ in Millions) ($ in Millions) (1) See slide 14 of this presentation for a reconciliation of Net Income (Loss) to Adjusted EBITDA and Adjusted EBITDA excluding event cancellation insurance proceeds. (2) The calcula
Slide 9: Revenue and Adjusted EBITDA by Segment
9 ($ in Millions) Revenue and Adjusted EBITDA by Segment Quarterly Connections $112.2 $75.6 $62.0 $90.4 $123.4 $75.0 $62.4 All Other $10.1 $10.9 $10.5 $11.1 $10.0 $11.0 $10.2 Total $122.3 $86.5 $72.5 $101.5 $133.4 $86.0 $72.6 Connections $282.6 $340.2 All Other $43.3 $42.6 Total $325.9 $382.8 Annual
Slide 10: 2024 Guidance Signals Continued Growth and Margin Expansion
10 2024 Guidance Signals Continued Growth and Margin Expansion Revenue ($ in Millions) Adjusted EBITDA ex-Insurance(1) ($ in Millions) At least $400 mm Guidance On average, revenue per event is progressing toward normalized levels Guidance implies ~25% Adj. EBITDA margins, with room for continued im
Slide 11: Capital Allocation Priorities
Defined as the ratio of net debt to consolidated trailing twelve month EBITDA as defined in Amended and Restated Senior Secured Credit Facilities. Annual Recurring Dividends Re-introduce recurring quarterly cash dividend given free cash flow generative nature of business Gradually increase the divid
Slide 12: Appendix
“ Appendix @ EMERALD
Slide 13: Adjusted EBITDA Reconciliation
Adjusted EBITDA UNAUDITED RECONCILIATION OF NET (LOSS) INCOME TO ADJUSTED EBITDA Intangible asset impairment charges for the three and nine months ended September 30, 2024 represent non-cash charges of $6.3 million for certain indefinite-lived intangible assets in connection with the Company’s inter
Slide 14: Free Cash Flow Reconciliation
Free Cash Flow UNAUDITED RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (dollars in millions) (unaudited) Net Cash Provided by Operating Activities $ 9.1 $ 8.5 $ 26.2 $ 24.7 Less: Capi
Slide 15: Income Statement – Consolidated Emerald
Income Statement – Consolidated Emerald UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME
Slide 16: Income Statement – Connections Reportable Segment
Income Statement – Connections Reportable Segment UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME – CONNECTIONS REPORTABLE SEGMENT
Slide 17: Income Statement – All Other Category
Income Statement – All Other Category UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME – ALL OTHER CATEGORY
Slide 18: Income Statement – Corporate-Level Activities
Income Statement – Corporate-Level Activities UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME – CORPORATE-LEVEL ACTIVITIES