Vista Group International Ltd · NZX:VGL
Vista Group International — H1 2022 Earnings Presentation
27 slides from Vista Group International's earnings presentation, Aug 29, 2022
Slide 1: Interim Results 2022
Interim Results 29 August 2022 2022 Vista Group International Limited
Slide 2: Important notice
Important notice This presentation has been prepared by Vista Group International Limited • Although Vista Group’s management may indicate and believe the (“Vista Group”). assumptions underlying the forward-looking statements are reasonable, any assumptions could prove inaccurate or incorrect and, t
Slide 3: Agenda
Agenda 01 Vista Group summary Kimbal Riley, Group Chief Executive 02 Financial results Matt Cawte, Chief Financial Officer 03 Operational highlights Kimbal Riley, Group Chief Executive 04 Outlook 05 Questions
Slide 4: Vista Group's purpose
Vista Group’s purpose is to bring more people together to experience the magic of movies and cinema by creating the platform that connects the industry and powers the moviegoer experience
Slide 5: Vista Group – H1 2022: Back in the Picture
Vista Group – H1 2022 Back in the Picture “Our conclusion is expensive direct-to- streaming movies......is no comparison to what happens when you launch a film in • Moviegoer sentiment has recovered – box office growth is following the theaters... and so we’re making a strategic shift.” • Interest i
Slide 6: Financial results
Financial results
Slide 7: Financials
Financials Total Revenue Recurring Revenue1 SaaS Revenue1 $62m +39% $54m +43% $18m +49% EBITDA2 Operating Cashflow $3m +11% (adj ECL3) $5m +$4m 1. For definitions of Recurring Revenue and SaaS Revenue, refer to section 2.1 of the 2022 Interim Report. 2. EBITDA is a non-GAAP measure and is defined as
Slide 8: Trading performance
Trading performance NZ$m (Six Months – Unaudited) 30 Jun 2022 30 Jun 20211 % Change • Revenue ahead of guidance, Retriever and hardware upsides Revenue 62.4 44.9 +39% Expenses (59.2) (42.3) +40% • Good recurring revenue growth, both recovery and new Expected Credit Loss 0.1 3.7 • Year-on-year improv
Slide 9: The recovery story
The recovery story NZ$m 1H20 2H20 1H21 2H21 1H22 % of • Strong 1H22 result (Six Months – Unaudited) Rev Recurring Revenue1 32.9 32.6 37.3 44.1 53.5 86% • Good recurring revenue growth Non-Recurring Revenue1 11.9 10.1 7.6 9.1 8.9 14% • ARR4 now $112m Total revenue 44.8 42.7 44.9 53.2 62.4 Cost to ser
Slide 10: Operating segments
Operating segments 30 June 2022 (Six Months – Unaudited) • All segments showed strong revenue NZ$m Cinema Movio AGC Corporate Total growth as a result of sustained box Revenue 43.7 9.0 9.7 - 62.4 office recovery EBITDA1 7.8 2.0 0.3 (7.0) 3.1 • Good EBITDA1 margins across operating segments – adjusti
Slide 11: Financial position
Financial position • Strong balance sheet maintained NZ$m 30 Jun 2022 31 Dec 2021 % Change and cash position of $51.9m ($33.5m (Unaudited) (Audited) net of borrowings) Cash 51.9 60.4 -14% • Updated banking facilities to 2026 Receivables and other current assets 38.2 39.2 -3% • Receivables aging impr
Slide 12: Cashflow
Cashflow NZ$m (Six Months Ended – Unaudited) 30 Jun 2022 30 Jun 2021 % Change • Positive operating cash, increased Receipts from customers 63.4 45.6 +39% investment in Cloud journey, monthly Payments to suppliers & employees (57.2) (43.1) +33% operating cash burn1 of $0.6m in 1H22, Tax & interest (1
Slide 13: Operational highlights
Operational highlights
Slide 14: Vista Group Strategy
Vista Group Strategy Support our Expand our core platform Create and customers to rebuild that delivers value invest in new their business to our customers and opportunities connects moviegoers 14
Slide 15: Vista Cinema
Vista Cinema Vista Cinema provides cinema management software to the world’s largest cinema exhibitors Revenue $43.7m • Blockbusters driving box office • Veezi site growth flat – driven by globally focus on ARPU • Strong demand for Vista Digital • Retriever acquisition accretive in +39% vs 1H21 Plat
Slide 16: Vista Cinema site count
Vista Cinema site count1 (compared to 31 Dec 2021) Market Channel 31 Dec New Closures 30 Jun Enterprise Market Share2 1 1 2021 Sites / Losses 2022 Direct 5,128 46 (116) 5,058 51% India 1,509 97 1,606 Enterprise China 425 5 430 Total Enterprise 7,062 148 (116) 7,094 New Enterprise Sites Independent V
Slide 17: The Vista Cloud journey
The Vista Cloud journey What we’ve achieved to date Where we are now What’s coming in 2023 and • First customers live • Excellent pipeline with significant beyond number of Vista Cinema customers • Engineering to improve scalability • #1 transitioned from managed service actively engaged and managea
Slide 18: Movio
Movio Global leader in data-driven marketing, providing products and services to exhibitors, studios and film advertising specialists Revenue Movio Cinema Movio Research • Connections and Active Moviegoer counts continue to grow month on month • Research platform development continues with the addit
Slide 19: Additional Group Companies (Portfolio)
Additional Group Companies (Portfolio) Numero • Maccs Flicks Revenue Box office reporting and world leading Movie and cinema review and $9.7m theatrical distribution software showtime guide • Solid financial results with revenue and • Unique user growth ahead of plan – just EBITDA1 growth under 2m i
Slide 20: Associate companies
Associate companies Vista China • Public health response to cases of COVID has made for a tough first half, outlook remains uncertain and government policies fluid • Conservative decision to take non-cash impairment charge (against the non-cash fair value gain from the 2016 partial divestment) • Vis
Slide 21: Outlook
Outlook
Slide 22: Industry outlook
Industry outlook • Universal recognition of the value of theatrical experience and an exclusive window across all major studios • Very strong performance of blockbuster titles a highlight • Pipeline of content growing in 2023 and beyond as production gears up again post-pandemic • Average revenue pe
Slide 23: Film Slate 2022 - 2023
Film Slate 2022 - 2023 TEENAGE MUTANT NINIA TURTLES THE MEG 2 RENFIELD ‘ THE Gran TURISMO HaROLD =e AND THE q . / “ r BLUE FABELMANS coo? ; PURPLE M BEETLE IT'S ME, MARGARET CRAYON
Slide 24: Global Cinema Revenue Forecast - PWC
Global Cinema Revenue Forecast - PWC 52.7 $7.00 In its Global 50.7 50 48.7 $6.80 46.4 Entertainment & Media 43.6 45.2 41.9 $6.60 Outlook 2022-26, PwC 40 38 $6.40 predicts “Cinema $6.20 revenues will rise to 30 $6.00 record highs as 22.8 $5.80 attendance rebounds.” 20 $5.60 CAGR 2019-25 12.7 Box Offi
Slide 25: Vista Group Outlook
Vista Group Outlook • Customer interest in Vista Cloud, Digital and EQ platform is well ahead of our expectations • The commercial outcomes we are achieving with the platform remain robust and ahead of our initial projections • Upgraded full year revenue guidance for 2022 in the range of $123m – $12
Slide 26: Questions
Questions
Slide 27: Slide 27
Vista Group International — H1 2022 Earnings Presentation on 6ix