Winking Studios Limited · SGX:WKS
Winking Studios — Shareholder Meeting (April 2024)
18 slides from Winking Studios's shareholder meeting presentation, Apr 30, 2024
Slide 1: Annual General Meeting Presentation
CORPORATE PRESENTATION October 2023 ANNUAL GENERAL MEETING PRESENTATION WINKING STUDIOS LIMITED 30 April 2024
Slide 2: Disclaimer
Disclaimer Winking Studios Limited (the “Company”) was listed on Catalist of the SGX-ST on 20 November 2023. The initial public offering of the Company was sponsored by PrimePartners Corporate Finance Pte. Ltd. (the “Sponsor"). This presentation is prepared for information purposes only, without reg
Slide 3: Agenda
1. 2023 Highlights 2. Future Plans / Corporate Update Agenda
Slide 4: 2023 Highlights
2023 Highlights
Slide 5: 2023 Highlights
2023 Highlights Rewarding Public Listing Strong Financials Gaming Growth Expansion Plans Shareholders • Successful listing • Strong top and • Gaming industry • Capture market • 1st dividend post- on SGX-ST bottom-line continues to grow opportunities in listing Catalist on 20 growth in 1st • Rising g
Slide 6: Strong YoY Growth
Strong YoY Growth Revenue Gross Profit/Gross Margin 29.3 15 31.9% 35 24.5 30 26.3% US$ million 9.3 25 US$ million 10 20 6.4 15 5 10 5 0 0 FY2022 FY2023 FY2022 FY2033 Gross Profit Gross Margin Adjusted EBITDA1 Net Profit US$ million US$ million 5.3 1.8 2.5 1.0 FY2022 FY2023 FY2022 FY2023 1 After adju
Slide 7: Revenue Breakdown (by Business Segment)
Revenue Breakdown (by Business Segment) • Art Outsourcing remained largest business segment • Game Development doubled revenue YoY to US$5.0 million (FY2022: US$2.2 million) 0.5% 1.0% 9.1% 17.1% Art Outsourcing FY2023 Game Development FY2022 Global Publishing & Others 82.4% 89.9%
Slide 8: Revenue Breakdown (by Geographical Area)
Revenue Breakdown (by Geographical Area) • Mainland China and Hong Kong remained largest revenue contributor by region • Higher contribution from the US market due to an increase in new contracts 5.4% 3.8% 1 PRC and Hong Kong 9.7% 16.8% Taiwan 2 40.9% Korea 19.6% FY2023 FY2022 51.6% United States 18
Slide 9: Income Statement
Income Statement • Revenue growth of 19.5% driven by: US$’000 FY2023 FY2022 % Change - Increase in Art Outsourcing revenue Revenue 29,281 24,498 19.5 arising from new contracts with customers from US and South Korea - Increase in Game Development revenue Gross Profit 9,334 6,448 44.8 due to expansio
Slide 10: Alternative Performance Measures
Alternative Performance Measures US$’000 FY2023 FY2022 % Change • Adjusted EBITDA after one-off IPO-related expenses grew 2x to US$5.3 million from US$2.5 million in FY2022 Net Profit 1,780 1,037 71.6 • Adjusted EBITDA margin grew 7.8 ppt to Alternative Performance Measures Interest Expenses 89 60 4
Slide 11: Balance Sheet
Balance Sheet • Strong cash position As at As at US$’000 % Change Increase in cash and cash equivalents of 31 Dec 2023 31 Dec 2022 171.1%, mainly due to IPO proceeds Current Assets 23,768 12,736 86.6 • Increase in trade and other receivables, Cash and cash equivalents 16,423 6,057 171.1 in line with
Slide 12: Cash Flow and Cash Position
Cash Flow and Cash Position • Strong operating cash flow growth of US$’000 FY2023 FY2022 % Change 75.3%, due to increase in profitability and better working capital management Net cash generated from operating activities 3,469 1,979 75.3% • Net cash used in investing activities of Net cash (used in)
Slide 13: Dividend
Dividend Dividend Special Dividend Type Cash Dividend Amount Per Share SGD0.005 Tax Rate Tax-Exempt
Slide 14: Future Plans
Future Plans Corporate Update
Slide 15: Acquisition of On Point Creative
Acquisition of On Point Creative • 1st Acquisition Post-Listing Rationale of In line with strategy to pursue strategic acquisitions to boost sales, capabilities Acquisition and market presence globally On Point Creative Co., Ltd. About • Mainly engaged in the provision of art outsourcing services On
Slide 16: Proposed Acquisition of Pixelline
Proposed Acquisition of Pixelline • Entered into non-binding MOU with Vendors on 8 April 2024 • Subject to both parties entering into definitive agreement after due diligence, further update announcements to be made Rationale of In line with strategy to pursue strategic acquisitions to boost sales,
Slide 17: Business Strategies and Future Plans
Business Strategies and Future Plans Enhance our presence globally to capture market opportunities Pursue strategic acquisitions, joint ventures and strategic alliances to expand our scale and capabilities Monitor and explore the use of AI and/or invest in AI-related companies or businesses to impro
Slide 18: Thank You
Thank You Winking Studios Limited https://www.winkingworks.com/en-US/