Vista Group International Ltd · NZX:VGL
Vista Group International — Shareholder Meeting (May 2019)
32 slides from Vista Group International's shareholder meeting presentation, May 29, 2019
Slide 1: Vista Group 2019 Annual Meeting of Shareholders
VISTA GROUP 2019 ANNUAL MEETING OF SHAREHOLDERS 29 May 2019. Event Cinema 6, Gold Class.
Slide 2: Agenda
• Introduction • Chairman’s Address • Group CEO’s Address • Questions on Annual Report & Financial Statements • Resolutions • Resolution 1 – Re-election of Kirk Senior as a Director • Resolution 2 – Re-election of Cris Nicolli as a Director • Resolution 3 – Remuneration of Auditors • Resolution 4 –
Slide 3: Chairman's Address
CHAIRMAN'S ADDRESS KIRK SENIOR
Slide 4: Chairman's Address
CHAIRMAN’S ADDRESS • Exceptional Results • Focus on Core • Healthy Industry • Opportunities – Strong Balance Sheet • Incredible People 4
Slide 5: Vista Group Revenue Since IPO
VISTA GROUP REVENUE SINCE IPO 140.0 130.7 CAGR: 29% 120.0 106.6 100.0 88.6 80.0 65.4 $M 60.0 47.2 40.0 20.0 - FY2014 FY2015 FY2016 FY2017 FY2018 5
Slide 6: Vista Group Share Price (NZX) Since IPO
VISTA GROUP SHARE PRICE (NZX) SINCE IPO 1 6.50 6.00 VGL 5.50 5.00 4.50 4.00 SHARE PRICE ($) 3.50 3.00 2.50 2.00 1.50 1.00 0.50 0.00 1 To 28 May 2019. Adjusted for 2:1 Share Split in November 2017. Aug 14 Feb 15 Aug 15 Feb 16 Aug 16 Feb 17 Aug 17 Feb 18 Aug 18 Feb 19 6
Slide 7: Total Shareholder Returns Since IPO
TOTAL SHAREHOLDER RETURNS SINCE IPO 1 360% VGL 320% 280% TOTAL SHAREHOLDER RETURN (%) 240% 200% 160% 120% S&P/NZX 50 INDEX 80% S&P/NZX IT SECTOR INDEX 40% 0% 1 Total Shareholder Returns calculated to 27 May 2019 assuming reinvestment of net dividends and adjusted for capital events. -40% Aug 14 Feb
Slide 8: Chairman's Address
CHAIRMAN’S ADDRESS • Exceptional Results • Focus on Core • Healthy Industry • Opportunities – Strong Balance Sheet • Incredible People 8
Slide 9: Group CEO's Address
GROUP CEO’S ADDRESS KIMBAL RILEY
Slide 10: Financial Highlights
FINANCIAL HIGHLIGHTS TOTAL REVENUE RECURRING REVENUE OPERATING PROFIT $130.7m $79.9m $24.7m (up 23%) (up 24%) (up 21%) EBITDA1 OPERATING CASHFLOW FINAL DIVIDEND $29.2m $27.6m 2.10 (up 17%) (up 150%) CENTS P/SHARE (Total FY18 dividend up 27%) 1EBITDA is a Non-GAAP measure and is defined as earnings b
Slide 11: Vista Group 2018 Highlights
VISTA GROUP 2018 HIGHLIGHTS • Balance sheet remains very strong with low debt and a strong cash position • Vista Cinema global market share of 20+ screens segment increased to 40% • Signed integrated Group agreements with leading global Cinema Circuits – Cineworld and Odeon • Core businesses – Vista
Slide 12: Operating Segments
OPERATING SEGMENTS CINEMA MOVIO ADDITIONAL GROUP COMPANIES EARLY STAGE INVESTMENTS ASSOCIATES
Slide 13: Operating Segments
OPERATING SEGMENTS 2018 Additional Group Early Stage NZ$M Vista Cinema Movio Corporate Total Companies Investments Revenue 82.4 22.8 15.0 4.5 5.9 130.7 EBITDA1 25.6 6.2 1.4 0.4 (4.5) 29.2 EBITDA % of revenue 31% 27% 9% 10% (76%) 22% 2017 Additional Group Early Stage NZ$M Vista Cinema Movio Corporate
Slide 14: Cinema Segment
CINEMA SEGMENT $82.4M GROWTH +22% REVENUE $25.6M GROWTH +29% EBITDA Vista Cinema provides cinema management software to the world’s largest cinema exhibitors • 1013 new sites in 2018 (including 199 sites in China) • Total now 7,202 (161 sites removed from count at half year in France). Total in Chin
Slide 15: Cinema Segment - Continued (Veezi)
CINEMA SEGMENT - CONTINUED Provides cinema management software to the world’s independent cinema exhibitors • 258 new sites bring total site numbers to 901 – including China • China now with 93 sites, an increase of 72 over 2017 • 14% increase in revenue per site compared to 2017 • USA continues to
Slide 16: Cinema Segment - Drivers for Growth
CINEMA SEGMENT - CONTINUED Drivers for growth • Strong focus on trans-national ‘super-circuits’ validated by recent wins • Significant interest in cloud version of Vista and increasing opportunities for managed service arrangements • Continued product innovation into new areas such as F&B, data ware
Slide 17: Movio Segment
MOVIO SEGMENT $22.8M GROWTH +47% REVENUE $6.2M GROWTH +74% EBITDA Global leader in data-driven marketing to provide products and services to cinema exhibitors, film studios and their media agencies and other specialists in film advertising. Purpose: to connect moviegoers with their ideal movie. • Th
Slide 18: Movio Segment - Continued
MOVIO SEGMENT - CONTINUED Active Moviegoers Revenue / Active Moviegoer (Millions) (NZ cents) Region 2017 2018 2017 2018 USA 24 20 45 86 Rest of World 21 25 23 22 Global 45 45 35 51 Growth Strategy Increase Volume - Active Moviegoers: • Movio brand refresh focused on demonstrable uplift exhibitors ex
Slide 19: Additional Group Companies Segment
ADDITIONAL GROUP COMPANIES SEGMENT $15M $1.4M GROWTH +123% REVENUE EBITDA GROWTH +22% World leading film marketing products Provides world leading theatrical distribution Movie and cinema review and showtime guide • Excellent revenue growth (52%) delivered software • Unique visitors up 24% to 8.2m a
Slide 20: Early Stage Investments Segment
EARLY STAGE INVESTMENTS SEGMENT $4.5M GROWTH +285% $0.4M +$2.2M REVENUE EBITDA Software to optimise film forecasting and A platform to share film digital assets & enable Social app to share video reaction to movies scheduling new cinema ticketing sales channels to access and TV shows • Excellent rev
Slide 21: Associate Companies
ASSOCIATE COMPANIES Box office tracking and reporting product • International business (outside USA) progressing well with increased coverage and positive EBITDA • New country dashboards live in - Argentina, Bolivia, Indonesia, Malaysia, Mexico, Netherlands, Nigeria, Paraguay, Singapore, and Uruguay
Slide 22: Associate Companies - Continued
ASSOCIATE COMPANIES - CONTINUED Performance • Revenue of $NZD20.6m, 19% increase over 2017 • 199 new sites added – 41% from existing customers – total now 958 sites • Vista China market share of 20+ screens segment estimated as 17% • Top 5 circuit Stellar now rolling out – Vista China will have 3 of
Slide 23: Outlook
OUTLOOK • Recurring revenue base coupled with strong pipeline across Vista Group is expected to support our target of a 6th consecutive year of revenue growth in the region of 20% (excluding consolidation of Vista China) • Very exciting outlook for Movio – in particular Movio Media, with strong grow
Slide 24: Questions
To 2 ans Wo | Tauestions 4
Slide 25: Resolutions
RESOLUTIONS • Resolution 1 – That Kirk Senior be re-elected as a Director of Vista. • Resolution 2 – That Cris Nicolli be re-elected as a Director of Vista. • Resolution 3 – That the Board is authorised to fix the fees and expenses of PwC as auditor for the ensuing year. • Resolution 4 – That Vista’
Slide 26: Resolution 1
RESOLUTION 1 Resolution 1 – That Kirk Senior be re-elected as a Director of Vista. Confirmation of Proxies: • Proxies and Postal Votes received: • For 96,093,162 (83.10%) • Proxy discretion 280,105 (0.24%) • Against 19,262,605 (16.66%) • Abstain 4,000 (0.00%) 26
Slide 27: Resolution 2
RESOLUTION 2 Resolution 2 – That Cris Nicolli be re-elected as a Director of Vista. Confirmation of Proxies: • Proxies and Postal Votes received: • For 115,251,707 (99.74%) • Proxy discretion 280,105 (0.24%) • Against 26,086 (0.02%) • Abstain 81,974 (0.05%) 27
Slide 28: Resolution 3
RESOLUTION 3 Resolution 3 – That the Board is authorised to fix the fees and expenses of PwC as auditor for the ensuing year. Confirmation of Proxies: • Proxies and Postal Votes received: • For 115,304,793 (99.76%) • Proxy discretion 280,105 (0.24%) • Against 0 (0.0%) • Abstain 54,974 (0.03%) 28
Slide 29: Resolution 4
RESOLUTION 4 Resolution 4 – That Vista’s existing constitution is revoked, and the constitution referred to in the Explanatory Notes on pages 3 and 4 of the Notice of Meeting, is adopted as the constitution of Vista with effect from the date that Vista transitions to the new NZX Listing Rules dated
Slide 30: General Business, Further Questions, Closing
GENERAL BUSINESS FURTHER QUESTIONS CLOSING
Slide 31: Important Notice
IMPORTANT NOTICE This presentation has been prepared by Vista Group International Limited (“Vista Group”). Information in this presentation: • is provided for general information purposes only, does not purport to be complete or comprehensive, and is not an offer or invitation for subscription or pu
Slide 32: Vista Group 2019 Annual Meeting of Shareholders
VISTA GROUP 2019 ANNUAL MEETING OF SHAREHOLDERS 29 May 2019. Event Cinema 6, Gold Class.
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