Emmis Corporation · OTC:EMMS
Emmis — Emmis Communications — Shareholder Meeting (July 2018)
13 slides from Emmis's shareholder meeting presentation, Jul 12, 2018
Slide 1: Emmis Communications Annual Meeting of Shareholders
Emmis Communications Annual Meeting of Shareholders July 12, 2018 10:00 a.m.
Slide 2: Forward-looking statements note
• Note: Certain statements in this presentation constitute “forward- looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, pe
Slide 3: Emmis Overview
Emmis Overview Company overview Radio market statistics Headquartered in Indianapolis, IN, Emmis is a publicly traded radio broadcasting communications company (NASDAQ: EMMS). Market Revenue Stations The Company was incorporated in 1979 and went public in 1994 Market Name Rank Share FM AM Total
Slide 4: Emmis Radio Pro Forma Market Summary
Emmis Radio Pro Forma Market Summary Pro forma for asset sales, our radio division consists of three strong clusters in New York, Indianapolis and Austin. FY18 Radio Net Revenues FY18 Radio Station Operating Income 100% = $84.6 million 100% = $20.7 million 60% 56% 70% 64% 50% 60% 40% 50% 40% 30% 25%
Slide 5: New York Update
New York Update New York Market Revenue Summary FY18 NY market revenue summary Q1 FY19 NY market revenue summary National -5% National -3% Local -4% Local -9% Network/NTR +23% Network/NTR -3% Digital +4% Digital -3% Total revenues Flat Total revenues -7% Emmis total NY revenues -2% Emmis
Slide 6: Austin Update
Austin Update Austin Market Revenue Summary FY18 Austin market revenue summary Q1 FY19 Austin market revenue summary National +10% National +12% Local -4% Local -4% Network/NTR +34% Network/NTR +4% Digital -10% Digital +10% Total revenues +1% Total revenues Flat Emmis total Austin revenue
Slide 7: Indianapolis Update
Indianapolis Update Indianapolis Market Revenue Summary FY18 Indy market revenue summary Q1 FY19 Indy market revenue summary National +1% National +2% Local -6% Local -9% Network/NTR +7% Network/NTR +7% Digital -12% Digital +20% Total revenues -3% Total revenues -4% Emmis total Indy reven
Slide 8: Summary of Recent Asset Sales
Summary of Recent Asset Sales Asset(s) Closing Date Sales Price LTM SOI* Sales Multiple Texas Monthly November 1, 2016 $25.0 million $0.8 million 31x Terre Haute radio January 30, 2017 $5.2 million $0.2 million 26x stations Los Angeles, Atlanta, Cincinnati February 28, 2017 $6.5 million ($1.3 millio
Slide 9: Leverage Comparables
Leverage Comparables Due to these opportunistic asset sales, Emmis’ leverage ratio is one of the lowest in the radio industry. 13.0 7.0 5.8 5.5 4.2 4.1 Net Leverage Ratio Leverage Net 1.7 iHeart Urban One Salem Townsquare Beasley Entercom/CBS Emmis Source: Public company filings 9
Slide 10: Stock Price Performance
Stock Price Performance Aggressive debt repayment contributed to 57% stock price appreciation in FY18. $4.50 $4.00 $3.50 $3.00 $2.50 $2.00 $1.50 $1.00 $0.50 $0.00 Source: Capital IQ 10
Slide 11: Emerging Technologies: NextRadio and Digonex
Emerging Technologies: NextRadio and Digonex Radio Attribution Powered by Emmis owns 100% of the NextRadio smartphone application, Offers dynamic pricing solutions to TagStation network, and DialReport data attribution reporting platform help clients optimize revenues given Data has become the
Slide 12: Strategic Priorities in FY19
Strategic Priorities in FY19 Pursue businesses that exhibit strong long-term growth characteristics • Targeting businesses both inside and outside traditional media where we can leverage our organizational strengths Opportunistically dispose of assets when it makes sense for shareholders • History o
Slide 13: Emmis Communications Annual Meeting of Shareholders
Emmis Communications Annual Meeting of Shareholders July 12, 2018 10:00 a.m.
Emmis Communications — Shareholder Meeting (July 2018) on 6ix