Slide 1: Fourth Quarter and Full Year 2023
Emerald Holding, Inc. Fourth Quarter and Full Year 2023 February 29, 2024 Exhibit 99.2
Slide 2: Forward-Looking Statements
Notes Forward-Looking Statements The information provided in this presentation is for general informational purposes only. This document contains certain forward-looking statements regarding Emerald Holding, Inc. and its subsidiaries (the “Company”), including, without limitation, the Company’s abil
Slide 3: Participants
Participants Hervé Sedky President and Chief Executive Officer David Doft Chief Financial Officer
Slide 4: Key Q4 and FY 2023 Takeaways
Key Q4 and FY 2023 Takeaways Sustained recovery trend in live events is driving significant year-over-year growth, supported by ongoing improvements in customer supply chains and a rebound in international travel Trajectory of recovery and forward visibility into event bookings supports updated outl
Slide 5: Revolutionizing the Trade Show Model
Revolutionizing the Trade Show Model Integrating technology and first party data to create a next-generation B2B platform Collection of leading B2B trade shows and conferences that bring together industry-specific communities Revenue is generated from the production of trade shows and conference eve
Slide 6: Enduring Value of Trade Shows
Enduring Value of Trade Shows (1) Source: Freeman, New Freeman Research Shows an Accelerated Return to In-Person Events. (2) Source: TSL, 2023 150+ Trade Show Stats That Reveal All. (3) Source: CEIR, Omnichannel Marketing Insights Report 1. (4) Source: Gartner, What Marketing Budgets Look Like in 20
Slide 7: Three Pillars of Value Creation
Three Pillars of Value Creation Emerald’s focus is on maximizing value of operations and expanding offerings Action the holistic consolidated customer database 3-year brand operating plans across portfolio Value-based pricing structure Rigorous, perpetual brand reviews Improved customer retention Hi
Slide 8: Acquisitions and New Event Launches Driving Portfolio Optimization
Acquisitions and New Event Launches Driving Portfolio Optimization Strategic expansion into high growth industries and categories Entered long-term partnership with the NBA to launch fan events and festivals globally adjacent to high profile NBA events such as the All Star Game, NBA Draft and NBA Su
Slide 9: Adj. EBITDA, Free Cash Flow, Net Income, Diluted Income (Loss) Per Share
9 Adj. EBITDA(1) Free Cash Flow(2) Net Income Diluted Income (Loss) Per Share ($ in Millions) ($ in Millions) Excludes insurance proceeds (1) See slide 14 of this presentation for a reconciliation of Net Income (Loss) to Adjusted EBITDA and Adjusted EBITDA excluding event cancellation insurance proc
Slide 10: Revenue and Adjusted EBITDA by Segment
10 ($ in Millions) Revenue and Adjusted EBITDA by Segment Quarterly Connections $5.7 $4.4 $66.1 $30.5 $88.6 $60.8 $51.3 $81.9 $112.2 $75.6 $62.1 $90.3 All Other $7.2 $10.6 $10.4 $10.6 $9.9 $10.7 $11.0 $11.7 $10.1 $10.8 $10.5 $11.2 Total $12.9 $15.0 $76.5 $41.1 $98.5 $71.5 $62.3 $93.6 $122.3 $86.4 $7
Slide 11: 2024 Guidance Signals Covid Recovery and Company Growth
11 2024 Guidance Signals Covid Recovery and Company Growth Revenue ($ in Millions) Adjusted EBITDA ex-Insurance(1) ($ in Millions) $415 to $425 Guidance On average, revenue per event is progressing toward normalized levels Guidance implies ~27% Adj. EBITDA margins, with room for continued improvemen
Slide 12: Conservative Balance Sheet and Strong Liquidity: Capital Structure
Common Shares Outstanding 62.9M Preferred Shares Liquidation Preference per Share as of December 31, 2023 $6.90 Initial Conversion Price / 3.52 Common Shares per Converted Preferred Share = 1.96 shares Convertible Preferred Shares Outstanding × 71.4M Additional Common Shares from Preferred Conversio
Slide 13: Appendix
“ Appendix @ EMERALD
Slide 14: Adjusted EBITDA Reconciliation
Adjusted EBITDA UNAUDITED RECONCILIATION OF NET (LOSS) INCOME TO ADJUSTED EBITDA For the year ended December 31, 2022, represents non-cash charges of $6.3 million for goodwill in connection with the Company’s interim testing of goodwill for impairment resulting from the change in operating segments
Slide 15: Free Cash Flow Reconciliation
Free Cash Flow UNAUDITED RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW Three Months Ended December 31, Year Ended December 31, 2023 2022 2023 2022 (dollars in millions) (unaudited) Net Cash Provided by (Used in) Operating Activities $ 15.6 $ (23.6 ) $ 40.3 $ 175.1 Les
Slide 16: Income Statement – Consolidated
Income Statement – Consolidated Emerald UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME
Slide 17: Income Statement – Connections Reportable Segment
Income Statement – Connections Reportable Segment UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME – CONNECTIONS REPORTABLE SEGMENT
Slide 18: Income Statement – All Other Category
Income Statement – All Other Category UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME – ALL OTHER CATEGORY
Slide 19: Income Statement – Corporate-Level Activities
Income Statement – Corporate-Level Activities UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME – CORPORATE-LEVEL ACTIVITIES