National Cinemedia, Inc. · NASDAQ:NCMI
National Cinemedia — Q3 2021 Earnings Presentation
15 slides from National Cinemedia's earnings presentation, November 2021
Slide 1: Q3 '21 Earnings Supplemental Presentation
Q3 ’21 Earnings Supplemental Presentation Liquidity and COVID-19 Update
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains various forward-looking statements that reflect management’s current expectations or beliefs regarding future events. Investors are cautioned that reliance on these forward-looking statements involves risks and uncertainties. Although the Company
Slide 3: National CineMedia Business Update – Covid-19 Impact
National CineMedia Business Update – Covid-19 Impact • Despite the increase in network attendance, in-theater advertising revenue for the third quarter of 2021 remained significantly below historical levels. • NCM has the following cash and receivable positions: - NCM LLC began the third quarter of
Slide 4: National CineMedia Business Update – Covid-19 Impact
National CineMedia Business Update – Covid-19 Impact • Approximately half of our top 20 upfront partners from 2019 have closed deals with us for 2021, with several additional clients expected to make commitments by the end of the year. • Just completed three weekends in a row with box office of more
Slide 5: Q3 2021 Highlights versus Q3 2020
Q3 2021 Highlights versus Q3 2020 Financial: • Total revenue increased 428% to $31.7 million. • Adjusted OIBDA(1) improved 27% to negative $8.2 million. • National and Regional Sales revenue increased 554% to $22.9 million. • Local revenue increased 135% to $5.4 million. • Beverage revenue increased
Slide 6: Revenue (Q3)
Revenue (Q3) ($ in millions) 428% 554% 135% $3.2m $35.0 $31.7 $30.0 $25.0 $22.9 $20.0 $15.0 $10.0 $6.0 $5.4 $5.0 $3.5 $2.3 $3.4 $0.2 $0.0 Q3 2021 Q3 2020 Q3 2021 Q3 2020 Q3 2021 Q3 2020 Q3 2021 Q3 2020 Total National/Regional Local Beverage Revenue Revenue Revenue Revenue 6
Slide 7: Other Financial Metrics (Q3)
Other Financial Metrics (Q3) $16.6 $0.2 $2.4 $13.7 $0.0 $0.9 Q3 2021 (1) Q3 2020 (1) Q3 2021 Q3 2020 Q3 2021 Q3 2020 $0.0 CAPITAL INTEREST INTEGRATION EXPENDITURES(2) EXPENSE PAYMENTS(3) In Millions In Millions In Millions (1) Includes capital expenditures of $0.5 million in Q3 2021 related to our d
Slide 8: YTD 2021 Highlights versus YTD 2020
YTD 2021 Highlights versus YTD 2020 Financial: • Total revenue decreased 31.6% to $51.1 million. • Adjusted OIBDA(1) decreased 354% to negative $43.1 million. • National and Regional Sales revenue decreased 35.5% to $35.5 million. • Local revenue decreased 31.4% to $9.6 million. • Beverage revenue i
Slide 9: Revenue (YTD)
Revenue (YTD) ($ in millions) 31.6% 35.5% 31.4% 5.3% $80.0 $74.7 $70.0 $60.0 $51.1 $55.0 $50.0 $40.0 $35.5 $30.0 $20.0 $14.0 $9.6 $10.0 $6.0 $5.7 $0.0 YTD 2021 YTD 2020 YTD 2021 YTD 2020 YTD 2021 YTD 2020 YTD 2021 YTD 2020 Total National/Regional Local Beverage Revenue Revenue Revenue Revenue 9
Slide 10: Other Financial Metrics (YTD)
Other Financial Metrics (YTD) $1.4 $48.2 $0.3 $7.9 $40.9 $4.3 YTD 2021 (1) YTD 2020 (1) YTD 2021 YTD 2020 YTD 2021 YTD 2020 CAPITAL INTEREST INTEGRATION EXPENDITURES(2) EXPENSE PAYMENTS(3) In Millions In Millions In Millions (1) Includes capital expenditures of $1.3 million in YTD 2021 related to ou
Slide 11: Diversified Debt Structure
Diversified Debt Structure Q3 $1,108.0M $167.0M $111.3M 5.6% N/A 2021 Q3 $1,061.6M $167.0M $220.7M 4.9% 10.4X 2020 Total Debt Outstanding Consolidated Average Consolidated Outstanding Revolver Balance Cash and Interest Rate Total Leverage Investment on All Debt Ratio(2)(3) Balances(1) (Total Debt /
Slide 12: Cash Dividends in Q4'21 and Annualized FY '21 Dividend
Cash Dividends in Q4’21 and Annualized FY ‘21 Dividend The dividend was reduced from 2020 quarterly dividend amounts due to the reduced cash flows to NCM LLC from the theater closures from the COVID-19 pandemic and the corresponding limitations on available cash distributions from NCM LLC to NCM, In
Slide 13: 2021 Annual Guidance
2021 Annual Guidance Due to the continued uncertainties related to the COVID-19 pandemic over the near term and the impact of changes in consumer behavior on attendance following the reopening of the theaters, the Company is not providing revenue and Adjusted OIBDA guidance for the fiscal year endin
Slide 14: Operating Income to Adjusted OIBDA and Adjusted OIBDA Margin
Operating Income to Adjusted OIBDA and Adjusted OIBDA Margin $ in millions (1) Share-based compensation costs are included in network operations, selling and marketing and administrative expense. (2) The impairment of long-lived assets primarily relates to the write-off of certain internally develop
Slide 15: Thank You!
Thank You! National CineMedia, Inc. Investor Contact: Ronnie Ng 800-844-0935 investors@ncm.com 15