Emerald Holding, Inc. · NYSE:EEX
Emerald — Q2 2024 Earnings Presentation
19 slides from Emerald's earnings presentation, Aug 7, 2024
Slide 1: Emerald Holding, Inc. Second Quarter 2024
Emerald Holding, Inc. Second Quarter 2024 August 7, 2024 Exhibit 99.2
Slide 2: Legal Disclaimer
Legal Disclaimer Forward-Looking Statements The information provided in this presentation is for general informational purposes only. This presentation contains certain forward-looking statements regarding Emerald Holding, Inc. and its subsidiaries (the “Company”), including, without limitation, sta
Slide 3: Participants
Participants Hervé Sedky President and Chief Executive Officer David Doft Chief Financial Officer
Slide 4: Key Q2 2024 Takeaways
Key Q2 2024 Takeaways Continued year-over-year growth during seasonally slower second quarter. Strong re-booking trends provide forward visibility and support reiterated outlook of $415 to $425 million in Revenue and $110 to $115 million in Adjusted EBITDA in FY 2024 Target to expand Adj. EBITDA mar
Slide 5: Revolutionizing the Trade Show Model
Revolutionizing the Trade Show Model Integrating technology and first party data to create a next-generation B2B platform Collection of leading B2B trade shows and conferences that bring together industry-specific communities Revenue is generated from the production of trade shows and conference eve
Slide 6: Enduring Value of Trade Shows
Enduring Value of Trade Shows (1) Source: Freeman, New Freeman Research Shows an Accelerated Return to In-Person Events. (2) Source: TSL, 2023 150+ Trade Show Stats That Reveal All. (3) Source: CEIR, Omnichannel Marketing Insights Report 1. (4) Source: Gartner, What Marketing Budgets Look Like in 20
Slide 7: Three Pillars of Value Creation
Three Pillars of Value Creation Emerald’s focus is on maximizing value of operations and expanding offerings Action the holistic consolidated customer database 3-year brand operating plans across portfolio Value-based pricing structure Rigorous, perpetual brand reviews Improved customer retention Hi
Slide 8: Acquisitions and New Event Launches Driving Portfolio Optimization
Acquisitions and New Event Launches Driving Portfolio Optimization Strategic expansion into high growth industries and categories Select New Event Launches from Xcelerator New Event Launches Expected to Contribute 1-2 Percentage Points of Organic Revenue Growth per Year Educational platform that bri
Slide 9: Adj. EBITDA, Free Cash Flow, Net Income (Loss), Diluted EPS
9 Adj. EBITDA(1) Free Cash Flow(2) Net Income (Loss) Diluted Income (Loss) Per Share ($ in Millions) ($ in Millions) (1) See slide 14 of this presentation for a reconciliation of Net Income (Loss) to Adjusted EBITDA and Adjusted EBITDA excluding event cancellation insurance proceeds. (2) The calcula
Slide 10: Revenue and Adjusted EBITDA by Segment Quarterly
10 ($ in Millions) Revenue and Adjusted EBITDA by Segment Quarterly Connections $66.1 $30.5 $88.6 $60.7 $51.4 $81.9 $112.2 $75.6 $62.1 $90.3 $123.4 $75.0 All Other $10.4 $10.6 $9.9 $10.7 $11.0 $11.7 $10.1 $10.9 $10.4 $11.2 $10.0 $11.0 Total $76.5 $41.1 $98.5 $71.4 $62.4 $93.6 $122.3 $86.5 $72.5 $101
Slide 11: 2024 Guidance Signals Continued Growth and Margin Expansion
11 2024 Guidance Signals Continued Growth and Margin Expansion Revenue ($ in Millions) Adjusted EBITDA ex-Insurance(1) ($ in Millions) $415 to $425 Guidance On average, revenue per event is progressing toward normalized levels Guidance implies ~27% Adj. EBITDA margins, with room for continued improv
Slide 12: Capital Allocation: Dividends, Leverage and Buybacks
Defined as the ratio of net debt to consolidated trailing twelve month EBITDA as defined in Amended and Restated Senior Secured Credit Facilities. Annual Recurring Dividends Re-introduce recurring quarterly cash dividend given free cash flow generative nature of business Gradually increase the divid
Slide 13: Appendix
“ Appendix @ EMERALD
Slide 14: Adjusted EBITDA Reconciliation
Adjusted EBITDA UNAUDITED RECONCILIATION OF NET (LOSS) INCOME TO ADJUSTED EBITDA Other items for the three months ended June 30, 2024 included: (i) $0.9 million in acquisition-related transaction costs; (ii) $1.0 million in acquisition integration and restructuring-related transition costs, (iii) $0
Slide 15: Free Cash Flow Reconciliation
Free Cash Flow UNAUDITED RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (dollars in millions) (unaudited) Net Cash Provided by Operating Activities $ 9.8 $ 7.3 $ 17.1 $ 16.2 Less: Capital expendi
Slide 16: Income Statement – Consolidated
Income Statement – Consolidated Emerald UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME
Slide 17: Income Statement – Connections Reportable Segment
Income Statement – Connections Reportable Segment UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME – CONNECTIONS REPORTABLE SEGMENT
Slide 18: Income Statement – All Other Category
Income Statement – All Other Category UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME – ALL OTHER CATEGORY
Slide 19: Income Statement – Corporate-Level Activities
Income Statement – Corporate-Level Activities UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME – CORPORATE-LEVEL ACTIVITIES