Vista Group International Ltd · NZX:VGL
Vista Group International — H1 2023 Earnings Presentation
23 slides from Vista Group International's earnings presentation, Aug 25, 2023
Slide 1: FY23 Half Year Results
FY23 Half Year Results 25 August 2023
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 this underlying the forward-looking state
Slide 3: Agenda
Agenda 01 Our Business Stuart Dickinson | Chief Executive Officer 02 Financial Results Matt Cawte | Chief Financial Officer 03 Questions 3
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 4
Slide 5: Financial Highlights
Financial Highlights Total Revenue Recurring Revenue1 SaaS / Cloud Revenue1 $69.7m +12% $60.5m +13% $21.1m +17% ARR2 EBITDA3 Operating Cashflow $118.3m +6% $2.5m -19% $6.2m +22% 1. For definitions of Recurring Revenue and SaaS Revenue, refer to section 2.1 of the 2023 Interim Report. 2. ARR is Annua
Slide 6: Recurring Revenue Growth
Recurring Revenue Growth 60 1H23 Recurring Revenue1 +29% has increased 29% from 55 2H 2019 50 45 NZDm 40 35 30 25 20 2H19 1H20 1H21 1H22 1H23 1. Recurring Revenue is defined in section 2.1 of the 2023 Interim Report. 6
Slide 7: Vista Group Outlook
Vista Group Outlook • 2023 revenue guidance of $142m – $147m range • Free cash flow positive expected 4Q 2024 • Transformation underway to drive greater client alignment / outcomes and deliver improved financial performance 7
Slide 8: Strategic Priorities
Strategic Priorities Support our Expand our core Create and invest in clients to thrive platform and new opportunities deliver value 8
Slide 9: The world of movies…gets bigger
The world of movies…gets bigger Mega movie titles see audiences flock to theatres “[Barbenheimer] is a • Q2 global box office produces best quarterly result since 2019 victory for cinema.” • The Super Mario Bros. Movie was the biggest worldwide opening ever for Francis Ford Coppola, July 2023 an ani
Slide 10: Upcoming 2023 Blockbusters
Upcoming 2023 Blockbusters 10
Slide 11: Industry outlook: US$2 Billion combined global box office
US$2 Billion Industry outlook Combined global box office • Strong blockbusters with original content drive excitement for the cinema experience • Studio pipeline of more diverse content announced for 2023 and 2024, potential headwind from writers and actors strikes • Apple and Amazon movies on relea
Slide 12: Addressing our clients' needs
Addressing our clients’ needs What our clients want Studio / • Greater customer/moviegoer intimacy Distribution clients • Expanded digital reach and engagement • Operating efficiency, reduced costs • Connected actionable data to drive decision making • Expanded offerings – the movie and more Cinema
Slide 13: Exhibition platform momentum
Exhibition platform momentum Vista Cinema / Movio Vista Cinema Total Revenue Vista Cinema Movio Cinema management software used by the world’s largest cinema Global leader in data-driven marketing, providing products $47.5m exhibitors and services to exhibitors, studios and film advertising special
Slide 14: Site count
Site count1 Compared to 31 December 2022 Enterprise Market Share2 31 Dec New Closures 30 Jun Market Channel 1 1 2022 Sites / Losses 2023 Direct India 4,984 1,613 62 71 (62) (192) 4,984 1,492 50% Enterprise China 355 3 358 Total Enterprise 6,952 136 (254) 6,834 Veezi 956 19 975 Independent Veezi Chin
Slide 15: Create new opportunities
Create new opportunities Additional Group Companies (AGC) Numero • Maccs Flicks AGC1 Total Revenue Box office reporting and world leading Movie and cinema review theatrical distribution software • Combined total revenue up by 23% and showtime guide • Total revenue up by 33% due to higher $12.5m aver
Slide 16: Financial results
Financial results Name Surname Job title 16
Slide 17: Income statement
Income statement NZ$m 1H23 1H22 % Change (Six months – Unaudited) Total revenue 69.7 62.4 +12% Total operating expenditure (66.3) (59.1) +12% • Total revenue up 12% supported by underlying ARR2 Foreign exchange losses (0.9) (0.2) growth EBITDA1 2.5 3.1 -19% • Costs in line with 2023 ASM Depreciation
Slide 18: Six monthly breakdown
Six monthly breakdown NZ$m 1H20 2H20 1H21 2H21 1H22 2H22 1H23 (Six months – Unaudited) • Strong underlying revenue Recurring Revenue1 32.9 32.6 37.3 44.1 53.5 58.8 60.5 performance despite Non-Recurring Revenue1 11.9 10.1 7.6 9.1 8.9 13.9 9.2 headwinds Total revenue 44.8 42.7 44.9 53.2 62.4 72.7 69.
Slide 19: Operating segments
Operating segments 30 June 2023 (Six months – unaudited) NZ$m Vista Cinema Movio AGC1 Corporate Total • Solid underlying revenue Total revenue 47.5 9.7 12.5 - 69.7 growth in Vista Cinema and EBITDA2 7.9 1.8 1.5 (8.7) 2.5 Movio, with strong performance in studio focused EBITDA % of revenue 17% 19% 12
Slide 20: Financial position
Financial position • Strong cash position of $37.1m NZ$m Jun 2023 Dec 2022 % Change ($18.8m net of bank (Unaudited) (Audited) borrowings) Cash 37.1 46.0 -19% • Cash and undrawn bank Receivables and other current assets 37.2 42.6 -13% facilities of $60.8m Non-current assets 152.7 146.5 +4% • Working
Slide 21: Cashflow
Cashflow NZ$m 1H23 1H22 % Change (Six months – Unaudited) Receipts from clients 78.4 63.4 +24% • Good operating cash flows Payments to suppliers & employees (71.7) (57.2) +25% Tax & interest (0.5) (1.1) • Capitalised development up Cash flow from operating activities 6.2 5.1 +22% with increased inve
Slide 22: Questions
Questions 22
Slide 23: vista numero >
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