Slide 1: Prime Focus Limited Q2FY15 Investor Presentation
Prime Focus Limited Q2FY15 Investor Presentation February 2015 Q2 FY15 Earnings Presentation 1
Slide 2: Safe Harbor
Safe Harbor Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factors that could cause our actual results to differ ma
Slide 3: Agenda
Agenda I. Q2 & H1FY15 Performance………………………………………4-14 II. About us……………………..……………………………………..15-18 III. Annexure i. Financials…………………………………………….........20-21 ii. Shareholding pattern…………………………………….…...22 Q2 FY15 Earnings Presentation 3
Slide 4: The curtain begins to rise
The curtain begins to rise Benefits of 3 landmark transactions in FY15 emerging PFW-DNeg merger (July 2014) • Margins start to rebound – Creative Business EBITDA margin up from 4% in Q1 to 16% in Q2, major integration costs behind, cost synergies starting to Successful integration of accrue. On path
Slide 5: Established ourselves as Tier-1 Global M&E player
Established ourselves as Tier-1 Global M&E player Combined order book continue to be robust PFW+DNeg delivered creative services in 6 PFT expands global footprint post DAX out of top 10 global B.O. hits in 2014 Rank 2014 PFW/ in Movie Worldwide DNeg 2014 Gross ($mn) 1 Transformers: Age of Extinction
Slide 6: Margins rebound driven by cost-consolidation
Margins rebound driven by cost-consolidation EBITDA margin up to 11% in line with long term target of 20+% Net Revenues EBITDA/Margin PBT PAT Quarter Rs 3,187 mn Rs 355 mn / 11.1% Rs (395) mn Rs (362) mn ending Dec 14 Quarter ending Sep 14 Rs 3,570 mn Rs 144 mn / 4% Rs (681) mn Rs (220) mn • Revenue
Slide 7: Q2FY15 Segmental Analysis
Q2FY15 Segmental Analysis: Creative, Technology & India FMS EBITDA Margin at 16%, 26% & 38% Segment-wise revenues Figures in Rs Million; Consolidated financials 2,684 Qtr Sep 14 Qtr Dec 14 2,475 468 579 253 350 ViewD+VFX PFT India FMS Segment-wise EBITDA Qtr Sep 14 Qtr Dec 14 394 149 132 111 100 101
Slide 8: PFW's key projects delivered in Q2 include
PFW’s key projects delivered in Q2 include current Box Office Hits Hollywood Bollywood Interstellar Jupiter Kingsman: The Over $672 mn box Ascending Secret Service office collection TVCs Exodus: Gods The Hunger Games and Kings Mockingjay Part 1 Source: Boxofficemojo.com Over $729 mn box as on 15th F
Slide 9: With a strong pipeline of ongoing projects
With a strong pipeline of ongoing projects Avengers: Batman v Superman Insurgent Age of Ultron Ant-Man Mission Terminator-Genisys Impossible 5 The Hunger Alice in Games: Wonderland: Grimsby Mockingjay-Part 2 Through the Looking Glass Q2 FY15 Earnings Presentation 9
Slide 10: PFT continues on non-linear growth path
PFT continues on non-linear growth path • Revenue up 24% QoQ and 34% YoY Revenue by contract type • Warner Brothers renews contracts for Closed Captioning services • South African broadcaster SABC signs contract with PFT to offer CLEAR as a workflow management platform for their International Conten
Slide 11: H1FY15: Revenues scale up to Rs 6.8 bn post DNeg
H1FY15: Revenues scale up to Rs 6.8 bn post DNeg Transitory impact on margins due to one-time integration costs Figures in Rs Million; Consolidated financials Net Revenue EBITDA Margin PAT 6,756 499 / 7.4% (582) Six Months ending Dec 14 Six Months ending 4,184 1,141 / 27.3% 317 Dec 13 • YoY financia
Slide 12: Debt profile
Debt profile • Consolidated debt of $157 mn (Rs 9,981 mn) as on Dec 31, 2014 compared to $152 mn (Rs 9,339 mn) as on Sept 30, 2014 • Increase is primarily due to a new $4 mn EXIM facility for PFT, working capital facility for the backend and accretion of NCD interest partly offset by monthly repayme
Slide 13: Q2FY15 reflects impact of integration efforts
Q2FY15 reflects Impact of integration efforts EBITDA Margin up by 4-5% • Phase 1 started with PFT-DAX and PFW-DNeg EBITDA Margin up by 2– 4% • Phase 3 integration • Partner of choice for M&E • PFL – RMW FMS • Phase 2 services across EBITDA Margin up by 1.5 to 2 % Hollywood, Bollywood & business merg
Slide 14: About us
About us Q2 FY15 Earnings Presentation 14
Slide 15: PFL: World's Largest Integrated Media Services player
PFL: World’s Largest Integrated Media Services player Unique DNA Present in top M&E Higher growth ahead Markets ‘Creative cum tech’ Increasing presence Acceleration via M&A combination helps PFL across all major to spur next phase of emerge as only player to content markets with growth. Year 2015 ha
Slide 16: Fuelling success with marquee clients across the globe
Fuelling success with marquee clients across the globe Creative services Technology services Leading Hollywood and Bollywood studios Leading broadcasters, studios, brands, sports and digital businesses Q2 FY15 Earnings Presentation 16
Slide 17: 'WorldSourcing' model providing unmatched competitive edge
‘WorldSourcing’ model providing unmatched competitive edge Largest global network providing highest quality, fastest time to market and most efficient pricing & significant cost synergies Stronger front-end Unmatched off-shoring UK synergies CANADA Tax incentives Tax incentives Strong domest
Slide 18: Annexure
Annexure Q2 FY15 Earnings Presentation 18
Slide 19: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Six Six Qtr Qtr Qtr Months Months Particulars (Rs mn) ending ending ending % QoQ ending ending % YoY Dec 14 Sep14 Dec 13 Variance Dec 14 Dec 13 Variance Net sales / income from operations 3,187 3,570 2,223 -11% 6,756 4,184 61% Total Expenditure 2,792 3,458 1,774
Slide 20: Consolidated Balance Sheet
Consolidated Balance Sheet Qtr ended Year ended Particulars Dec 31, 2014 June 30, 2014 Shareholder's Equity* 6,874 7,375 Total Debt** 12,497 7,475 Minority Interest 2,306 1,613 Other Long Term Liabilities 1,616 606 Provisions 16 14 Trade Payables 2,775 1,249 Deferred Tax 99 119 Other Current Liabili
Slide 21: PFL Shareholding Pattern Evolution
PFL Shareholding Pattern Evolution As on 31st Dec 2014 Fully diluted Outstanding shares – 185 mn Outstanding shares* – 299 mn Public & Others, 8.3% Public, Institutions 24.0% Promoters 33.5% Corporate Promoters, Bodies, 41.6% 26.2% SCPE 12.3% FII/FVCI, 4.0% Reliance DII, 0.2% Group 30.2% SCPE, 19.7%
Slide 22: About Us
About Us Prime Focus Limited (PFL), the world’s largest media services powerhouse employs over 5,500 professionals in 16 cities across 4 continents and 7 time zones. We provide end-to-end creative and technology services including visual effects, stereo 3D conversion, animation, post-production, Dig