Vista Group International Ltd · NZX:VGL
Vista Group International — H1 2016 Earnings Presentation
26 slides from Vista Group International's earnings presentation, Aug 26, 2016
Slide 1: Vista Group – FY 2016 Half Year Results
Vista Group – FY 2016 Half Year Results 26 August 2016
Slide 2: 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, purch
Slide 3: Agenda
> Results highlights and Group update > Operating performance and trading metrics > Financial performance > China transaction > Outlook > Questions PAGE 3
Slide 4: Vista Group – Results Highlights & Group Update
VISTA GROUP – RESULTS HIGHLIGHTS & GROUP UPDATE
Slide 5: Result Highlights
Result Highlights > Consolidated Vista Group Revenue of $40.7m represents growth over first half FY2015 of 49% (42% excluding acquisitions) > Performance compared to FY2015 half year NZ$m 30 June 2016 30 June 2015 Revenue 40.7 27.3 49% EBITDA1 5.3 3.6 47% Net Profit 2.4 1.1 118% Highlights > Complet
Slide 6: Vista Group Update
VISTA GROUP UPDATE • Founded1996 & listed on NZX/ASX in Aug 2014 with market cap of $187M; now $538M. A 187% increase in 2 years VISTA ENTERTAINMENT SOLUTIONS • 435+ staff & offices in 8 cities: • Auckland, Sydney, London, LA, Dallas, Holland, Shanghai, Romania • Completed the acquisitions of : • 50
Slide 7: Vista Group – Operating Performance & Trading Metrics
VISTA GROUP – OPERATING PERFORMANCE & TRADING METRICS
Slide 8: Vista Group – Trading Metrics
VISTA GROUP – TRADING METRICS TOTAL REVENUE ANALYSIS 25% AVERAGE REVENUE GROWTH PER YEAR FOR LAST 3 YEARS PROFORMA REVENUE ANALYSIS 70000 66.3% 60000 50000 OF FY2016 TOTAL REVENUE 40000 $000's IS RECCURRING REVENUE 30000 Other 20000 49% Maintenance 10000 License Fees REVENUE GROWTH 0 OVER FY2015 HAL
Slide 9: Vista Entertainment Solutions
Vista Entertainment Solutions > Another very strong performance > 329 new sites installed > 161 sites added via CCG distribution agreement > Significant deployment to Jinyi in China of 119 sites > Continuing investment to drive future growth > Addition of 47 new staff despite tight labour market in
Slide 10: Vista Cinema – Metrics
VISTA CINEMA – METRICS AVERAGE LICENSE AVERAGE LICENSE AVERAGE MAINTENANCE AVERAGE MAINTENANCE REVENUE PER SITE REVENUE PER SITE REVENUE PER SITE REVENUE PER SITE ↑ 4% $26K ↑ 20% $6K FROM 2014 OVER 3 YEARS FROM 2014 OVER 3 YEARS NEW SITES ADDED TOTAL SITE COUNT 1200 6,000 1000 5,000 800 4,000 acquis
Slide 11: Veezi
Veezi > 429 contracted sites by 30 June 2016 > Average revenue per site increased to $500 per month > Entry to France via the CCG distribution agreement has been well progressed > Opportunities to enter China and India are progressing PAGE 11
Slide 12: Veezi – Metrics
VEEZI – METRICS 429 $2.65M $500 GLOBAL TOTAL OF ANNUALISED RECURRING AVERAGE REVENUE CONTRACTED SITES REVENUE PER SITE EACH MONTH TOTAL SITE COUNT AVERAGE REVENUE PER 500 $600 $500 SITE 400 300 $400 200 $300 100 $200 0 $100 Dec-13 Dec-14 Dec-15 May 16 $- YTD Dec-13 Dec-14 Dec-15 May 16 YTD
Slide 13: Movio
Movio > Movio Cinema > Continued expansion of customer footprint. Recent success in US, Europe, Middle East and Africa > Email volume is at record levels > New SMS module use is growing rapidly > Movio functionality continues to act as a draw card for Vista Entertainment Solutions to potential > cus
Slide 14: Movio Cinema – Metrics
MOVIO CINEMA – METRICS CONTRACTED CUSTOMER REVENUE PER 1,000 REVENUE GROWTH ACTIVE MEMBERS TOTAL 26,424 SCREENS 390% ↑ 85% $225 YEAR ON YEAR AVERAGE SINCE 2014 GROWTH SINCE 2013 SCREEN COUNT MEMBER DATABASE 30,000 120,000 25,000 100,000 20,000 80,000 000's 15,000 60,000 10,000 40,000 5,000 20,000 -
Slide 15: MACCS
MACCS > Revenue up 33% over FY2015 half year > Core business performed to expectation > Revenue from the contract with Warner Bros. in USA provided a key uplift in overall performance > Continued penetration and market share growth in other international markets PAGE 15
Slide 16: Numero
Numero > Collecting box office results for over 99% of the Australasian market > 6 major studios in Australia have now signed for subscription services. > Opportunities in other major territories are being progressed. PAGE 16
Slide 17: Vista Group – Financial Performance
VISTA GROUP - FINANCIAL PERFORMANCE
Slide 18: Trading Performance
Trading Performance For six months ended NZ$m 30 June 2016 30 June 2015 Revenue 40.7 27.3 49% Operating Expenses 35.8 26.3 36% Foreign exchange losses / (gains) 0.8 (1.9) Operating Profit 4.1 2.9 41% Net Profit attributable to shareholders 2.4 1.1 118% Net Profit before Tax 4.2 2.6 62% NZ$m 2016 Act
Slide 19: Financial Position
Financial Position > Higher receivables at 30 June 2016 due to revenue growth of 40% plus increase in accrued revenue balance > Cash balance has reduced due to acquisitions > Intangibles including Goodwill increased with acquisitions of Powster, Share Dimension and Flicks > No impairment of Intangib
Slide 20: Cash Flow
Cash Flow For six months ended NZ$m 30 June 2016 30 June 2015 Cash received from trading 39.1 30.9 Cash applied from trading > Cash receipts reflected the higher trading Operating expenses (35.7) (21.6) in the last quarter with cash to be collected in Q3 and Q4. Tax and interest (1.6) (1.8) (37.3) (
Slide 21: China Transaction
CHINA | TRANSACTION
Slide 22: Transaction overview
Transaction overview > Vista Group is bringing WePiao, a scale local Chinese operator and an affiliate of Tencent, in to Vista China as a partner to grow Vista China’s position in the China film market. > Vista China will have exclusive distribution rights to Vista Cinema, Veezi, Movio, Maccs and Nu
Slide 23: Transaction overview
Transaction overview > Transaction Values > Vista Entertainment Solutions has sold shares in Vista China and will receive circa $17m for these > WePiao has paid circa $33m to subscribe for additional shares in Vista China to provide the necessary working capital for the business to fund the distribu
Slide 24: Outlook
OUTLOOK
Slide 25: Outlook
Outlook > The half year result supports the revenue growth projection for FY2016 of 20% to 30% > The pipeline for future revenue remains strong > Veezi expected to grow at a faster rate with addition of France, China and Indian markets > Movio to continue sales of Movio Cinema and to enhance the mon
Slide 26: Questions
QUESTIONS
Vista Group International — H1 2016 Earnings Presentation on 6ix