United Parks & Resorts Inc. · NYSE:PRKS
United Parks & Resorts — SeaWorld Entertainment — Q4 2013 Earnings Presentation
11 slides from United Parks & Resorts's earnings presentation, Mar 13, 2014
Slide 1: Q4 2013 Earnings Call Presentation
Exhibit 99.2 Q4 2013 Earnings Call Presentation March 13, 2014
Slide 2: Cautionary Statements
Cautionary Statements Statement Regarding Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of U.S. federal securities laws. All statements contained in this presentation other than statements of historical facts are forward-looking statements. You
Slide 3: Full Year 2013 Highlights
Full Year 2013 Highlights A year of many accomplishments • Successful initial public offering • Amendment of credit facility • Commencement of quarterly dividend program • Completion of secondary offering by selling stockholders and concurrent share repurchase from them • Opening of Antarctica: Empi
Slide 4: Consolidated 2013 Financial Results
Consolidated 2013 Financial Results Focus on profitable growth and financial performance (In $ millions except per capita data) Revenue Revenue Per Capita CAGR • Strong performance at our CAGR +4.8% +5.3% SeaWorld-branded parks propelled the Company to record consolidated Revenue and Adjusted EBITDA
Slide 5: Twin Goals: Growing Adjusted EBITDA and Free Cash
Twin Goals: Growing Adjusted EBITDA and Free Cash Focus on high flow-through revenue and cost management (In $ millions) • Expand revenue through • Maintain stable levels of • Pursue disciplined capital high flow-through leverage while enhancing investment and expansion opportunities free cash flow
Slide 6: 2014 – The Year Ahead
2014 – The Year Ahead Focus on delivering a compelling lineup of new attractions and entertainment • New attractions will open in 9 of our 11 parks – 50th Anniversary Celebration “Sea of Surprises” at all three SeaWorld parks – Explorer’s Reef at SeaWorld San Diego – Falcon’s Fury at Busch Gardens T
Slide 7: 2014 Annual Guidance
2014 Annual Guidance Focus on strategic execution and maintaining momentum Management Guidance • The following estimates are based on current management expectations – Revenue: $1.49 to $1.52 billion or 2% to 4% growth – Adjusted EBITDA: $450 to $465 million or 3% to 6% growth Other Guidance • Q1 20
Slide 8: Appendix
SEAWORLD ENTERTAINMENT a
Slide 9: Reconciliation of Adjusted EBITDA to Net Income
Reconciliation of Adjusted EBITDA to Net Income (In $ millions) 2011 2012 2013 Net Income $19 $77 $50 Provision for Income Taxes 13 39 25 Loss on Early Extinguishment of Debt -- -- 32 Interest Expense 110 111 94 Depreciation & Amortization 214 167 166 Secondary offering costs -- -- 1 Termination of
Slide 10: Reconciliation of Adjusted Free Cash Flow to Cash Flow from Operations
Reconciliation of Adjusted Free Cash Flow to Cash Flow from Operations (In $ millions) 2011 2012 2013 Cash Flow from Operations $268 $304 $290 Advisory termination fee cash payment -- -- 46 Adjusted Cash Flow from Operations 268 304 336 Capital Expenditures 225 192 166 Adjusted Free Cash Flow $43 $1
Slide 11: Q4 2013 Earnings Call Presentation
Q4 2013 Earnings Call Presentation March 13, 2014
SeaWorld Entertainment — Q4 2013 Earnings Presentation on 6ix