Spaceandpeople Plc · LSE:SAL
Spaceandpeople — FY2020 Earnings Presentation
12 slides from Spaceandpeople's earnings presentation, Jun 4, 2021
Slide 1: Retail Proposal. 2020 Full Year Results Investor Presentation
S P A C E A N D P E O P L E S P A C E A N D P E O P L E RETAIL PROPOSAL. 2020 FULL YEAR RESULTS INVESTOR PRESENTATION Affinity Water at Atria Watford
Slide 2: Financial Results
S P A C E A N D P E O P L E • Net revenue down 64% to £2.8m (2019: £7.7m) due to Covid-19 lockdowns in both the UK and Germany and significant sales credits • Operating loss before non-recurring costs of £2.1m (2019: £0.1m profit) • Net cash outflow from operating activities £1.2m (2019: £0.03m) • C
Slide 3: Operational Highlights
S P A C E A N D P E O P L E • Extended periods of lockdown in the UK and Germany had a fundamental impact on trading during the year • Significant new business agreements won for former intu venues • Extension of major Landsec agreement in the UK • Improved new five-year agreement with ECE in German
Slide 4: UK Performance
S P A C E A N D P E O P L E • Promotional revenue before provisioning down 77% to £0.8m (2019: £3.5m) • Retail revenue down 57% to £0.9m (2019: £2.8m) • Severely curtailed by repeated national and local lockdowns • Railway stations accepted very few bookings during 2020 • Overhead reduction plan imp
Slide 5: German Performance
S P A C E A N D P E O P L E • Retail revenue stable at £1.0m (2019: £1.0m) • Legacy promotional revenue of £0.05m (2019: £0.3m) • Periods of lockdown in Germany were shorter than UK in 2020 • Underlying average number of RMUs utilised due to lockdowns was 61 (2019: 54) City Arkaden - Wuppertal GERMA
Slide 6: Cost Savings & Cash Management
S P A C E A N D P E O P L E Temporary Savings • Circa £0.5m saved through use of UK furlough scheme • Circa £0.1m saved through use of German salary support scheme Permanent Savings • Staff headcount reduced by 23 and Group board restructured, saving a combined £0.8m per annum • German headcount red
Slide 7: Outlook
S P A C E A N D P E O P L E Most venues now operating in the UK. German venues beginning to reopen from 1 June Retail business bouncing back well, but brand experience business slower to re-emerge. New venues contracting with us and major clients extending their relationships gives good traction for
Slide 8: Summary
S P A C E A N D P E O P L E • Business fundamentally affected by pandemic during 2020 • Government support critical to emerging from lockdowns as a viable business • Over £1m annual cost reductions achieved combined with cash management strategy means that we emerge as a more efficient business • St
Slide 9: Profit and Loss
S P A C E A N D P E O P L E 2020 2019 2020 2019 2020 Loss before tax Profit / (Loss) Net revenue Net revenue before tax UK promotions £0.8m £(0.8m) £3.5m £1.0m UK retail £0.9m £(0.1m) £2.9m £0.4m German promotions £0.0m £(0.2m) £0.3m £0.1m German retail £1.1m £(0.4m) £1.0m £(0.6m) Discontinued opera
Slide 10: Cash Flow
S P A C E A N D P E O P L E 2020 2019 Operating cash flow £(1.21m) £0.23m Tax paid £0.06m £(0.26m) Investment in fixed assets £(0.03m) £(0.05m) Cash flow before financing £(1.18m) £(0.08m) Movement in borrowings £0.79m £0.56m Dividends paid - £(0.10m) Net cash flow £(0.39m) £0.38m Cash balance £0.84
Slide 11: Disclaimer
S P A C E A N D P E O P L E This presentation should be read in conjunction with the RNS announcement published by SpaceandPeople plc (the “Company”) on 4 June 2021. This document has been sent to you by Zeus Capital Limited (“Zeus”) who is authorised to carry on regulated activities by the Financia
Slide 12: Contact
S P A C E A N D P E O P L E CONTACT NANCY CULLEN (CEO) SPACEANDPEOPLE PLC nancy.cullen@spaceandpeople.co.uk www.spaceandpeople.com 07872 666419 www.spaceandpeople.co.uk 100 West Regent Street GlasgowHouse Delta G2 2QD GREGOR DUNLAY (CFO) 50 West Nile Street Glasgow gregor.dunlay@spaceandpeople.co.uk