Emerald Holding, Inc. · NYSE:EEX
Emerald — Q3 2023 Earnings Presentation
14 slides from Emerald's earnings presentation, Nov 6, 2023
Slide 1: Emerald Holding, Inc. Third Quarter 2023
Emerald Holding, Inc. Third Quarter 2023 November 6, 2023 Exhibit 99.2
Slide 2: Forward-Looking Statements
Notes Forward-Looking Statements The information provided in this presentation is for general informational purposes only. This document contains certain forward-looking statements regarding Emerald Holding, Inc. and its subsidiaries (the “Company”), including, without limitation, the Company’s abil
Slide 3: Participants
Participants Hervé Sedky President and Chief Executive Officer David Doft Chief Financial Officer
Slide 4: Key Q3 2023 Takeaways
Key Q3 2023 Takeaways Sustained recovery trend in live events is driving significant year-over-year growth, supported by ongoing improvements in customer supply chains and a rebound in international travel Trajectory of recovery and forward visibility into event bookings supports updated outlook of
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 (1) Source: Freeman, New Freeman Research Shows an Accelerated Return to In-Person Events. (2) Source: TSL, 2023 150+ Trade Show Stats That Reveal All. (3) Source: CEIR, Omnichannel Marketing Insights Report 1. (4) Source: Gartner, What Marketing Budgets Look Like in 20
Slide 7: Three Pillars of Value Creation
Three Pillars of Value Creation Emerald’s focus is on maximizing value of operations and expanding offerings Hired a head of product to action the holistic consolidated customer database 3-year brand operating plans across portfolio Value-based pricing structure Rigorous, perpetual brand reviews Imp
Slide 8: Acquisitions and New Event Launches Driving Portfolio Optimization
Acquisitions and New Event Launches Driving Portfolio Optimization Strategic expansion into high growth industries and categories Entered long-term partnership with the NBA to launch fan events and festivals globally adjacent to high profile NBA events such as the All Star Game, NBA Draft and NBA Su
Slide 9: Adj. EBITDA, Free Cash Flow, Net Income
9 Adj. EBITDA(1) Free Cash Flow(2) Net Income Diluted Income (Loss) Per Share ($ in Millions) ($ in Millions) Excludes insurance proceeds (1) See slide 13 of this presentation for a reconciliation of Net Income (Loss) to Adjusted EBITDA and Adjusted EBITDA excluding event cancellation insurance proc
Slide 10: 2023 Guidance Signals Covid Recovery and Company Growth
10 2023 Guidance Signals Covid Recovery and Company Growth Revenue ($ in Millions) Adjusted EBITDA ex-Insurance(1) ($ in Millions) $385-395 Guidance On average, revenue per event is progressing toward normalized levels Guidance implies ~25% Adj. EBITDA margins, with room for continued improvement to
Slide 11: Conservative Balance Sheet and Strong Liquidity: Capital Structure
Conservative Balance Sheet and Strong Liquidity: Capital Structure As of September 30, 2023 Convertible Preferred Shares Issued $400M of Convertible Preferred Stock in 2020 during COVID business disruption Beginning in Q3 2023, Emerald may elect each quarter to pay the 7% per annum dividend in cash
Slide 12: Appendix
“ Appendix @ EMERALD
Slide 13: Adjusted EBITDA Reconciliation
Adjusted EBITDA UNAUDITED RECONCILIATION OF NET (LOSS) INCOME TO ADJUSTED EBITDA For the nine months ended September 30, 2022, represents non-cash charges of $6.3 million for goodwill in connection with the Company’s interim testing of goodwill for impairment resulting from the change in operating s
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, 2023 2022 2023 2022 (dollars in millions) (unaudited) Net Cash Provided by Operating Activities $ 8.5 $ 153.5 $ 24.7 $ 198.7 Less: C