Pursuit Attractions And Hospitality, Inc. · NYSE:PRSU
Pursuit Attractions And Hospitality — Viad — William Blair Growth Stock Conference 2007
24 slides from Pursuit Attractions And Hospitality's conference presentation, Jun 20, 2007
Slide 1: William Blair Growth Stock Conference June 20, 2007
William Blair Growth Stock Conference June 20, 2007
Slide 2: Forward Looking Statements
Forward Looking Statements As provided by the safe harbor provision under the "Private Securities Litigation Reform Act of 1995" Viad cautions that, in addition to historical information contained herein, this presentation includes certain information, assumptions and discussions that may constitute
Slide 3: Company Overview
2003 2004 2005 2006 0.97 0.96 1.45 1.75 Company Overview Viad Corp is an S&P SmallCap 600 company, with a market capitalization of approximately $900 million Strong increase in shareholder value since the spin-off of MoneyGram International, Inc. (NYSE:MGI) on June 30, 2004 63% total return as of Ju
Slide 4: Viad Operating Companies
Viad Operating Companies Viad Corp is comprised of four operating companies that hold leading positions within the exhibition and event industry and the travel and recreation services industry Industries Operating Companies Description of Services Exhibition and Event Services GES Exposition Service
Slide 5: GES Exposition Services
GES Exposition Services GES Exposition Services International Manufacturing Technology Show 2006 GES is the largest of Viad's operating companies Revenue Segment Operating Income GES 623082 48055 West 232949 19194 73% of Viad's 2006 revenue 71% of Viad's 2006 segment operating income
Slide 6: GES Exposition Services
GES Exposition Services Exhibitor Discretionary: Installing & Dismantling Labor Logistics/Transportation Exhibit Rental Furnishings & Carpet Graphics Lighting Storage Refurbishing Show Organizer: Show Planning & Production Look & Feel Design Layout & Floor Plan Designs Furnishings & Carpet Signage G
Slide 7: Producing an Exhibition
Producing an Exhibition 1 2 3 4 5 6 7 8 9 10 11 12 Month Planning Show Post Show Show Move-in Move-out Client meetings Concept design Operations plan Produce exhibitor kit Planning meetings Work orders GES National ServicenterSM activity Finalize operations & service plan Make labor calls Order equi
Slide 8: Exhibition and Event Market
Exhibition and Event Market Conventions & Exhibitions Meetings Incentive Travel East 67.92 48.15 6.24 Source: Convention Industry Council 2004 Economic Impact Study Exhibitions, meetings and incentive travel contribute an estimated $122 billion to GDP Business Services Exhibit Space Dining & Retail
Slide 9: Exhibition and Event Market
Exhibition and Event Market Exhibition Growth Metrics Indexed to 1972 Source: Tradeshow Week. The U.S. exhibition industry has a long history of steady growth CAGR = 5.5% CAGR = 4.5% CAGR = 4.3%
Slide 10: GES Leading Market Share
GES Leading Market Share GES Freeman Other 4-Yr Avg 0.66 0.26 0.08 Source: 2002 - 2006 Tradeshow Week Top 200 indoor shows in the U.S.; 5-year average. GES services a leading share of the largest exhibitions Freeman 66% of Top 10 Exhibitions over the past 5 years
Slide 11: GES Revenue Visibility
GES Revenue Visibility Enter each year with > 60% of forecasted revenue under contract Typical contract length is 3 to 5 years Renewal rate is > 90% GES has strong backlog of business with high revenue visibility Q106 Q206 Q306 Q406 Q107 Backlog 0.886 0.9 0.9 1.1 1
Slide 12: GES Focused Growth Strategy
GES Focused Growth Strategy Increase penetration of exhibitor discretionary services Double-digit same-show growth in discretionary revenue in past two years Supported by Products and Services group Developed marketing database Drive customer service enhancements and discernible differences National
Slide 13: GES is Strong and Growing
GES is Strong and Growing Market leader Strong, long-term customer relationships Solid and dependable cash flow and operating margins Good customer and industry diversity Strong, diverse and experienced management team Focused growth strategy 2005 2006 East 568.006 623.082 GES is a very strong and g
Slide 14: Exhibitgroup/Giltspur
Exhibitgroup/Giltspur Full-service exhibition program management: Exhibit design & production Installation and dismantling labor Graphics Logistics management E-services and marketing services Show services Refurbishing and storage Kiosks, RMUs, permanent installations International operations: Oper
Slide 15: Exhibitgroup/Giltspur
Exhibitgroup/Giltspur Demand for new exhibit construction decreased following 9/11 as a result of lower marketing budgets and increased exhibitor focus on ROI In response, Exhibitgroup's efforts were focused internally to reduce its cost structure and become more efficient Consolidated facilities St
Slide 16: Exhibitgroup/Giltspur
Exhibitgroup/Giltspur 2007 will be a year of investment in new strategies to reposition Exhibitgroup for future growth Improve sales pipeline and win rate Created vertical sales teams to deliver more customer value and drive revenue growth within key client industry segments Developed new tools to s
Slide 17: Travel and Recreation Services
Travel and Recreation Services 33.8% of Viad's 2006 operating income was generated by the Travel and Recreation Services segment Travel and Recreation Services Exhibition and Event Services East 0.338 0.662 Viad's 2006 Operating Income Mix Glacier Park Brewster
Slide 18: Travel and Recreation Services
Travel and Recreation Services Brewster Inc. Banff, Alberta, Canada Glacier Park, Inc. Waterton-Glacier International Peace Park 81% of segment's 2006 operating income Exclusive provider of one-of-a-kind attractions in Banff National Park Columbia Icefield Ice Explorer Tours Banff Gondola Lake Minne
Slide 19: Travel and Recreation Services
Travel and Recreation Services Great cash flow and ROC Very strong operating margins Exclusive providers of one-of- a-kind services mostly within North American national parks The Travel and Recreation Services segment delivers consistently strong results 2006 2005 2004 East 79.26 73.933 67.46 West
Slide 20: Driving Shareholder Value
Driving Shareholder Value Driving Shareholder Value
Slide 21: Strong Cash Flows and Balance Sheet
2003 2004 2005 2006 19.401 26.289 52.852 Free Cash Flow (1) (In Millions) (2) Shareholders' equity (including minority interest) plus total debt. (3) 3/31/07 capacity of $132.7 million. Strong Cash Flows and Balance Sheet 12/31/2006 3/31/2007 178.1 128.6 15 14.8 Viad generates significant free cash
Slide 22: William Blair Growth Stock Conference June 20, 2007
William Blair Growth Stock Conference June 20, 2007
Slide 23: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures Income Before Other Items Free Cash Flow Appendix
Slide 24: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures (1) These non-GAAP measures should be considered in addition to, but not as a substitute for, similar measures presented in accordance with GAAP. 2004 2005 2006 Income Before Other Items per Share: Income (loss) from continuing operations $(2.68) $1.64 $2.35 Impai