Slide 1: Preliminary Results 27 March 2019
A accesso. Preliminary Results 27' March 2019
Slide 2: Agenda
1. Overview 2. Financials 3. Operational Review 4. Evolving our approach 5. Summary & Outlook 2
Slide 3: Technology to redefine the guest experience
Tech ale) = Sz logy me the power rede ine.thie guest exper file
Slide 4: Before, during the experience, after
Before During the experience After 4
Slide 5: Clients Served Across the World
® accesso. Clients Served Across the World Over 1000 Venues Across 30 Countries
Slide 6: Right strategy in place
Acquisitions Proactive Strong Right strategy further steps to product in place strategic address demand ambition change Large Changing Fluctuating One-off acquisition guest weather impacts not behaviour completed 6
Slide 7: Highlights: Delivering against strategy in 2018
® accesso. Highlights Delivering against strategy in 2018 i/ Aes SR * Strong customer Continued momentum in Growing penetration in Digital Guest Experience with demand for offering traditional verticals adjacent verticals multi-product installations +> 3S 3 - Distribution platform Enhanced financial
Slide 8: Financials
Financials
Slide 9: Group revenue and key financial metrics
Ticketing & Distribution 15.5% 21.9% 25.5% 23.8% GROUP Guest Experience REVENUE 4.6% ADJ. OPERATING PROFIT ADJ. EPS Ticketing & Distribution 18.3% 36.5% 15.1% 7.8% Guest Experience ORGANIC REVENUE (11%) REPEATABLE & ADJ. EDITDA TRANSACTIONAL REVENUE 9
Slide 10: New reporting segments
Acquisitions since 2012 adding new revenue streams and market dynamics New reporting segments reflect main business activities go-to-market characteristics Additional revenue and profit disclosures add clarity to our performance Easier differentiation between organic and inorganic revenue Updated an
Slide 11: Ticketing & Distribution
Ticketing & Distribution (83% repeatable) accesso. Revenue Model Product o accesso. Revenue Transactional and repeatable — revenue recognised represents share of ticket value generated by operator, or fee per item (ticket, parking, etc) Growth Drivers Pricing policy from operators, attendances (not
Slide 12: Guest Experience
Guest Experience (58% repeatable ) accesso. Revenue Model Product Revenue * Transactional and repeatable — revenue recognized Attendance represents accesso share of revenue (net) generated from % of guests using system = a BeSees accesso guest rentals New venues & pricing LoQueue |. Very Seasonal *
Slide 13: Revenue split 2017 vs 2018
+15.1% 26% $88.4m $76.7m 74% $26.1m $30.3m 2017 2018 (2017: 75%) 13
Slide 14: Revenue: reported and organic growth
2018 YoY% YoY% 2017 ($m) Reported Organic * ($m) Overall a reported 15.5% increase split Group revenue 118.7 15.5% 7.8% 102.8 evenly between organic and Ticketing and Distribution revenue acquisitive accesso Passport, accesso Siriusware, accesso ShoWare and Ingresso 78.6 21.9% 18.3% 64.4 Ticketing a
Slide 15: Organic revenue and 2017 acquisitions
Includes revenue of pre-acquisition period of 2017 FY 2018 FY 2017 YoY YoY Ticketing & Distribution: ($m) ($m) ($m) % • Continued strong growth Organic (excl 2017 acqs) Queuing: Ticketing and distribution 56.4 47.7 8.7 18.3% • 2017 benefitted from non-repeatable revenue Guest Management 23.6 26.5 (2
Slide 16: Revenue, COGS, gross profit and adjusted operating profit
FY 2018 FY 2017 ($m) YoY% ($m) IFRS15 IFRS15 Revenue 118.7 15.5% 102.7 Margin increase – increased proportion of ticketing and increased mix of up front COGS (30.5) (7.0%) (28.5) licenses Gross Profit 88.2 18.7% 74.3 Gross Profit % 74.3% 72.3% Admin: • full year of acquisitions Administrative expens
Slide 17: Adjusted operating profit and EBITDA reconciliation
2018 ($m) 2017 ($m) Operating profit 6.3 10.1 2018: $1.7m professional fees related Add: Acquisition expenses (incl. abort fees) 1.7 1.2 to late stage abort of acquisition Add: Deferred and contingent payments 3.2 2.2 Add: Amortisation related to acquired intangibles 11.7 8.6 Less: Profit recognised
Slide 18: Segment adjusted EBITDA
2018 YoY% 2017 ($m) Reported ($m) Ticketing and Distribution adj EBITDA 30.8 29.4% 23.8 New disclosure for 2018, % of segment revenue 39.2% 36.9% which offers visibility to the costs and profitability Guest Experience adj EBITDA 19.3 6.0% 18.2 associated with each % of segment revenue 48.0% 47.4% se
Slide 19: Cash flow and net cash
FY 2018 ($m) FY 2017 ($m) Change ($m) Underlying cash from operations 26.0 21.2 4.8 Underlying operating cash/ Adj EBITDA Tax (0.5) (0.2) (0.3) 74.9% (2017: 83.4%) Fixed assets – tangible (2.0) (1.0) (1.0) • Higher mix of up-front POS - cash Fixed assets - development (21.1) (12.4) (8.7) received ac
Slide 20: Development expenditure and capitalisation
Total expenditure of $29.4m (2017: $20.0m) representing 24.6% of revenue (2017: 19.5% of revenues) The increase in expenditure follows significant acquisitions in 2017 which has increased development as a proportion of revenue: • Expenditure excluding 2017 acquisitions (organic) was $17.0m in 2018 (
Slide 21: Tax charge
Tax charge of $1.9m (2017: credit of $2.7m) Effective tax rate (ETR) on adjusted earnings for 2018 was 18.8% (2017: 24%) • Benefit from adjustments from prior year provisions • Statutory ETR 36.4% - driven by the non cash accounting charges – deferred consideration Forward guidance re the ETR on adj
Slide 22: 2018 Operational Review
A) accesso ey 2018 Operational Review
Slide 23: Tickets, transactions and mobile growth
+14% MOBILE GROWTH Increase in mobile usage globally +3M TRANSACTIONS Increase in amount of transactions globally 14M TICKETS +18% Increase in tickets sold globally by over 10M. eCOMMERCE Tickets Increase in eCommerce tickets sold globally 23
Slide 24: Addressable verticals for Ticketing & Distribution
® accesso. Addressable Zoos & | Aquariums/Cultural Verticals | @ ee Live Entertainment/ Water Parks ' Performing Arts Ticketing & Distribution Market /\ Tours & Attractions Fairs & Festivals ©. Ski Resorts Hotels & Resorts
Slide 25: Established Verticals: integration across installed base
® accesso. Established Verticals Increasing demand for integration across installed base SAVES A W7 The Bear Grylls Sy a VILLAGE ROADSHOW THEME PARKS First same-site Further TE2 and accesso Passport integration First holistic integration of accesso Passport, accesso LoQueue, accesso ShoWare and TE2
Slide 26: Established Verticals: positive actions for sustainable growth
Installation of Qsmart for all European clients A accesso. Established Verticals Positive actions to drive sustainable growth Prism wearable’s first season as premium queuing device at a tier-1 US park Alternative product and pricing models gaining traction 26
Slide 27: Adjacent Verticals
accesso. Adjacent Verticals Increased penetration in Ski, Live Entertainment & Cruise Lines accesso Passport and Wins with Vibes accesso Siriusware working International Music in tandem in twelve Festival, Hockey, locations including 3 Football and Major existing ski clients League Rugby Deployment
Slide 28: Greenfield Opportunities
A accesso. Greenfield Opportunities Building global scale to tap demand for inventory distribution Theater Restaurants Sightseeing Concerts Sports Museums @s° (Dgresso K ticketmaster’ GROUPON Google Y/Plan Attractions © o®o © © © Growth despite Amazon’s decision to exit Uk ticketing distribution mar
Slide 29: Evolving our approach to the Digital Guest Journey
(A) accesso Evolving our approach to the Digital Guest Journey Customer-led prograrnme to elevate our product platform
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Slide 31: Current Product
Current Product O LoQueue Queuing Products ® accesso. accesso A. SIRIUSWARE Passport Ticketing/POS Products rganization Distribution Guest Experience
Slide 32: Current Product Integration Approach
® accesso Current Product Integration Approach een Passport LoQueue A. SIRIUSWARE
Slide 33: Flexible, accessible, economical platform
FLEXIBLE SCALABLE Add new modules or features Client accesso Equally and quickly deploy to clients of all sizes ACCESSIBLE OPEN Clients and third parties can easily Client accesso Easy to integrate for clients, third integrate parties and accesso also supports collecting fees at any level ECONOMICAL
Slide 34: Technology ROI
Technology ROI Seamless and integrated guest experience from advance Increased per capita spend online reservations, to in-venue meal and retail purchases Support for secure and cashless payments Increased likelihood to return / recommend Data, user context, and location based services integrated wi
Slide 35: accesso Cloud Platform
accesso Cloud Platform Identity & Personalization Ticketing F&B Retail Assigned Seating Reseller API Java Spring Microservices Private APIs Versioned Client APIs Next generation accesso platform New revenue opportunities accesso accesso accesso Third-Party Client Apps Certified Online Applications O
Slide 36: Approach to Evolution
® accesso. Approach to Evolution Improving Metrics and Driving Group Revenue S/ Modern SY SaaS Architecture Deployment SA Aaile Sy Ae Development Implementation Continuous Evolution 36
Slide 37: 2019 Outlook and guidance
Revenue: • Organic growth in line with that achieved in 2018 • Ticketing and Distribution is expected to be in line with the percentage growth achieved in 2018, adjusting for the non-repeatable ($2m) • Guest Experience revenues overall expected to be largely flat: • evolution of repeatable platform
Slide 38: Summary and Outlook
accesso. Summary and Outlook Seizing opportunity in 2019 and beyond 38