Vista Group International Ltd · NZX:VGL
Vista Group International — FY2022 Earnings Presentation
25 slides from Vista Group International's earnings presentation, Mar 1, 2023
Slide 1: Annual Results 2022
Annual Results 1 March 2023 2022 Vista Group International Limited
Slide 2: Important notice
Important notice This presentation has been prepared by Vista Group International Limited and its • Although Vista Group’s management may indicate and believe the assumptions related companies (collectively referred to as Vista Group). This notice applies to underlying the forward-looking statements
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 – 2022
Vista Group – 2022 Continued ARR growth as SaaS platform gains momentum • Strong financial performance highlighted by 38% revenue growth and $118.0m ARR "We're back to theaters. Around the • Significant platform signing with Cineplex (top 5 North American world, people are going back to circuit) com
Slide 6: Financial results
Financial results
Slide 7: Financials
Financials Total Revenue Recurring Revenue1 SaaS Revenue1 $135.1m +38% $112.3m +38% $38.4m +38% ARR2 EBITDA3 Operating Cashflow $118.0m +22% $10.6m +63% $12.4m +10% 1. For definitions of Recurring Revenue and SaaS Revenue, refer to section 2.1 of the 2022 Annual Report. 2. ARR is Annualised Recurrin
Slide 8: Trading performance
Trading performance NZ$m 2022 2021 % Change • Revenue ahead of guidance, with box Revenue 135.1 98.1 +38% office improvements supporting Expenses (126.1) (94.2) +34% client recovery ECL1 benefit 1.0 3.1 • EBITDA2 improvement of 63%, or 131% Foreign exchange (FX) gains/losses 0.6 (0.5) after adjustin
Slide 9: Six monthly breakdown
Six monthly breakdown NZ$m 1H20 2H20 1H21 2H21 1H22 2H22 • Six monthly recurring revenue1 growth (Six months – unaudited) of 10%, or 33% year on year Recurring Revenue1 32.9 32.6 37.3 44.1 53.5 58.8 Non-Recurring Revenue1 11.9 10.1 7.6 9.1 8.9 13.9 • Favourable impacts of Retriever, Total revenue 44
Slide 10: Operating segments
Operating segments 2022 • All segments showed strong revenue NZ$m Cinema Movio AGC1 Corporate Total growth supported by strengthening Revenue 93.5 19.9 21.7 - 135.1 box office EBITDA2 19.3 4.9 2.1 (15.7) 10.6 • Sustained EBITDA margins2 across EBITDA % of revenue 21% 25% 10% 8% Cinema and Movio • Co
Slide 11: Financial position
Financial position • Strong balance sheet maintained and cash position of $46.0m NZ$m 2022 2021 % Change ($28.4m net of ASB borrowings) Cash 46.0 60.4 -24% • Updated bank facilities to 2026 Receivables and other current assets 42.6 39.2 +9% • Cash and undrawn facilities of $70.4m Non-current assets
Slide 12: Cashflow
Cashflow NZ$m 2022 2021 % Change Receipts from clients 131.5 105.7 +24% • Positive operating cash Payments to suppliers & employees (115.5) (92.2) +25% • Capitalised development up with Settlement of US sales tax provisions (2.1) - increased investment in SaaS platform Tax & interest (1.5) (3.1) • A
Slide 13: Operational highlights
Operational highlights
Slide 14: Vista Group Strategy
Vista Group Strategy Support our Expand our core platform Create and clients to rebuild that delivers value invest in new their business to our clients and opportunities connects moviegoers 14
Slide 15: Vista Cinema
Vista Cinema Vista Cinema provides cinema management software to the world’s largest cinemas Revenue $93.5m • Strong recurring revenue1 growth • Retriever products end of life continues announced – accelerating transition to Cloud and Veezi • Transition of perpetual license clients to +41% vs 2021 s
Slide 16: Vista Cinema site count
Vista Cinema site count1 (compared to 30 June 2022) 30 Jun New Closures 31 Dec Enterprise Market Share2 Market Channel 1 1 2022 Sites / Losses 2022 Direct 5,058 139 (213) 4,984 51% India 1,606 7 1,613 Enterprise China 430 (75) 355 Total Enterprise 7,094 146 (288) 6,952 Veezi 974 55 (73) 956 Independ
Slide 17: Movio
Movio Global leader in data-driven marketing, providing products and services to exhibitors, studios and film advertising specialists Revenue Movio Cinema EQ Movio Research • Record connections of 4.2b, up from 3.2b in 2021 • Research Console 3.0 launched in the US and UK $19.9m +32% vs 2021 • 2022
Slide 18: The platform journey
Significant progress has been made on the SaaS platform, The platform journey and early adopters are getting the first experience of the best technology the market has to offer.
Slide 19: Additional Group Companies (AGC)
Additional Group Companies (AGC1) Numero • Maccs Flicks Revenue Box office reporting and world leading Movie and cinema review and $21.7m theatrical distribution software showtime guide • Good revenue and EBITDA2 growth, • App launched, and won Bronze at Best especially in Numero Design Awards (NZ)
Slide 20: Outlook
Outlook
Slide 21: Industry outlook
Industry outlook • Global cinema industry continues to build momentum, with blockbusters jostling for release dates again • Studio pipeline of more diverse content announced for 2023 • Cinema and streaming models settling down to co-exist • 2023 box office growth forecasts in range of 10-20%, contin
Slide 22: Upcoming Blockbusters
Upcoming Blockbusters
Slide 23: Vista Group Outlook
Vista Group Outlook • 2023 revenue forecast in the range of $142m – $147m • Aspirations from the October 2022 Investor Day reaffirmed • Larger clients showing strong interest in Digital and Movio Cinema EQ led cloud strategy • EQ migration expected to be completed by end 2023 • Engineering focus on
Slide 24: Questions
Questions
Slide 25: Slide 25
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