Slide 1: 1H2024 Results Presentation
CORPORATE PRESENTATION October 2023 1H2024 RESULTS PRESENTATION WINKING STUDIOS LIMITED 14 August 2024
Slide 2: Disclaimer
Disclaimer Winking Studios Limited (the “Company”) was listed on Catalist of the SGX-ST on 20 November 2023. The initial public offering of the Company was sponsored by PrimePartners Corporate Finance Pte. Ltd. (the “Sponsor"). This presentation is prepared for information purposes only, without reg
Slide 3: Agenda
1. 1H2024 Highlights 2. Financial Review Agenda 3. Corporate Updates
Slide 4: 1H2024 Key Highlights
1H2024 Key Highlights 1 REVENUE GROWTH 2 ADJUSTED EBITDA1 3 NEW GROWTH MARKET ▲7.1% YoY US$ 15.2 M On a constant currency basis, ▲10.5% YoY US$ 2.2 M Japan ▲nearly 3 times YoY The ongoing listing expenses on the SGX-ST of Robust growth from Arts Outsourcing and US$0.2 million in 1H2024 are not inclu
Slide 5: 1H2024 Key Highlights
1H2024 Key Highlights 7 STRONG FOCUS & NICHE 8 REVENUE VISIBILITY Our Manpower Usage for The Group expects a stronger pipeline of Games with Online Connectivity projects in 2H2024 from indicative bookings of (such as Mobile, Console and C) our artists by customers of at least 90.50% 1 US$ 10.1 M as
Slide 6: Financial Review
Financial Review
Slide 7: Key Financial Highlights
Key Financial Highlights Revenue Gross Profit/ Gross Margin On a constant Gross Profit Gross Margin currency basis, ▲10.5% YoY 15 ▲7.1% YoY 10 30.7% 27.9% US$ million US$ million 15.2 14.2 5 4.4 4.2 0 1H 2023 1H2024 1H 2023 1H2024 • The Group’s revenue in 1H 2023 was propelled mainly by pent-up dema
Slide 8: Key Financial Highlights
Key Financial Highlights Adjusted EBITDA Adjusted Net Profit Adjusted EBITDA Adjusted EBITDA Margin Adjusted Expenses Net Profit 6 5.5 5 19.6% 14.6% 4.5 4 US$ million US$ million 3.5 Increased marketing and 3 0.5 promotional expenses 2.5 0.2 ongoing -listing expenses (SGX) 1.8 0.5 Increased marketin
Slide 9: Revenue Breakdown (by Business Segment)
Revenue Breakdown (by Business Segment) 0.6% 0.4% 16.4% 16.2% Art Outsourcing 1H2024 Game Development Services 1H2023 US$15.2M Global Publishing & Others US$14.2M 83.4% 83.0% • Revenue growth for Art Outsourcing: ▲6.6% YoY • Revenue growth for Game Development Services: ▲8.1% YoY • On a constant cur
Slide 10: Revenue Breakdown (by Geographical Area)
Revenue Breakdown (by Geographical Area) 3.0% 3.5% 0.3% 10.1% Inclusive of 4.4% from Inclusive of 4.3% from - Chinese subsidiaries of Chinese subsidiaries of European and American 16.2% European and American 33.0% customers; and customers 43.9% 12.2% - Overseas subsidiaries of China customers 1H2024
Slide 11: Profit & Loss
Income Statement (Key Highlights) • Revenue growth of 7.1% driven by: - Increase in Art Outsourcing segment revenue of US$0.8 million, driven by an increase in orders from both new and existing clients US$’000 1H2024 1H2023 % Change in Japan and South Korea - Increase in Game Development segment rev
Slide 12: Alternative Performance Measures
Alternative Performance Measures (APMs) US$’000 1H2024 1H2023 % Change • The Group also reports a number of APMs to showcase the financial performance of the Net Profit 909 1,263 (28.0) Group, which are not standard accounting measures defined by the International Financial Adjusted Net Profit 1,217
Slide 13: Balance Sheet
Balance Sheet (Key Highlights) • Decline in cash and cash equivalents largely due to the As at As at acquisition of two art studios, dividend payments, purchase US$’000 % Change of bond investments of US$1.5 million and partially offset 30 Jun 2024 31 Dec 2023 by the returns from bond investments Cu
Slide 14: Cash Flow Statement
Cash Flow and Cash Position (Key Highlights) US$’000 1H2024 1H2023 % Change • Net cash generated from operating activities increased 53.9%, mainly due to increased revenue, accelerated cash Net cash generated from operating activities 905 581 55.8 collections and increased interest income, which are
Slide 15: Corporate Updates
-— Corporate —. Updates WINKING.
Slide 16: Recent Mergers & Acquisitions
Recent Mergers & Acquisitions April 2024: Completed acquisition of On Point Creative Taipei-based art studio providing art outsourcing services June 2024: Completed acquisition of the business and certain assets of Pixelline Production Kuala Lumpur-based art studio, mainly engaged in the provision o
Slide 17: Successful Placement: Raised Gross Proceeds of S$27.0 Million
Successful Placement: Raised Gross Proceeds of S$27.0 Million Placement Shares 108.0 million new ordinary shares S$0.25 for each Placement Shares Issue Price A discount of approximately 1.0% to VWAP of S$0.2524 for trades done on the SGX-ST on 9 April 2024, being the full market day on which the pla
Slide 18: Thank You
Thank You Winking Studios Limited https://www.winkingworks.com/en-US/