(i.z.) Queenco Ltd. · TASE:QNCO
(i.z.) Queenco — Queenco Leisure International — Q3 2008 Earnings Presentation
27 slides from (i.z.) Queenco's earnings presentation, Nov 26, 2008
Slide 1: Third Quarter Results Presentation
Third Quarter Results Presentation 26 November 2008
Slide 2: Introduction
Introduction ♣ Emerging market developer and operator of casino resorts ♣ Operating in Greece, Romania and Serbia ♣ New Management Team ♣ Reviewing current investment programme in light of market conditions ♣ Building on the strength of our financial position 2
Slide 3: Results Highlights
Results Highlights Year ended Three months Three months Nine months Nine months 31 December ended 30 ended 30 ended 30 ended 30 2007 September 2008 September 2007 September 2008 September 2007 €m €m €m €m €m 205.7 Gross Revenues 48.0 56.3 151.3 149.4 142.9 Net Revenues 33.5 39.6 105.8 103.7 62.0 EBI
Slide 4: Operating Highlights
Operating Highlights Result by casino for nine months ended 30 September 2008 Net Revenue EBITDA Visitors Win per Visitor QLI's Economic Casino (EURm) EURm) (EURm) EURm) (000’ (000’s) (EUR) Interest 2008 2007 2008 2007 2008 2007 2008 2007 *Loutraki 133.8 139.1 59.1 68.4 872 821 225 247 38.5% Rodos 1
Slide 5: Financial Review
Financial Review Neomi Enoch, Chief Financial Officer
Slide 6: Summary IFRS Profit and Loss Account
Summary IFRS Profit and Loss Account Three months Three months Nine months Nine months Year ended 31 ended 30 ended 30 ended 30 ended 30 December 2007 September 2008 September 2007* September 2008 September 2007* €m €m €m €m €m 142.9 Net revenues 33.5 39.6 105.8 103.7 (80.9) Operating, Selling and A
Slide 7: Summary IFRS Balance Sheet
Summary IFRS Balance Sheet Year ended 31 As at 30 September As at 30 September December 2007 2008 2007 €m €m €m 141.7 Non-current assets 147.5 133.6 76.0 Cash & cash equivalents 71.6 71.1 13.7 Other current assets 8.4 13.6 231.4 Total assets 227.5 212.5 55.4 Current liabilities 58.6 51.2 29.6 Non-cu
Slide 8: Summary IFRS Cash Flow Statement
Summary IFRS Cash Flow Statement Three months Three months Nine months Nine months Year ended 31 ended 30 ended 30 ended 30 ended 30 December 2007 September 2008 September 2007 September 2008 September 2007 €m €m €m €m €m 46.3 Net cash from operating activities 11.5 12.6 24.1 30.6 (33.3) Net cash us
Slide 9: Operational Review
Operational Review Uri Ben- Ben-Ari, Chief Executive Officer
Slide 10: Business Strategy
Business Strategy ♣ Focusing on Core Activities ♣ Prioritising investments (incl. Capex) ♣ Monitoring expenses; without compromising growth ♣ Enhancing Company Strengths ♣ Investing in core operating competencies ♣ Developing and training key personnel ♣ Seeking Growth Opportunities ♣ Leveraging cas
Slide 11: Club Hotel Casino Loutraki - Greece
Club Hotel Casino Loutraki - Greece Q3 Highlights ♣ No. of visitors in the period increased by 1% to 285k (2007: 283k) despite economic downturn ♣ Net revenues for the period of €42.5m (2007: €49.4m) ♣ Average win per visit of €215 (2007: €251) ♣ Market leader in Greece with a market share of over 3
Slide 12: Club Hotel Casino Loutraki - Greece
Club Hotel Casino Loutraki - Greece Number of Visitors / Win per Visitor Gross Gaming Revenues / EBITDA Margin Three months ended 30 September 2008 Three months ended 30 September 2008 290 300 85 Gross gaming revenues (EURm). Number of visitors (000's). 285 55% 251 Win per visitor (EUR) EBITDA margi
Slide 13: Grand Casino Beograd - Serbia
Grand Casino Beograd - Serbia Q3 Highlights ♣ Casino Loutraki holds 39% of Casino Beograd ♣ Casino Beograd has exclusivity in Belgrade, a city with a population of two million ♣ Casino Beograd became fully operational in February 2008 and expects to reach profitability in the future ♣ For the three
Slide 14: Casino Rodos - Greece
Casino Rodos - Greece Q3 Highlights ♣ Net revenues of €7.6m (2007: €8.9m) ♣ Average win per visit of €194 (2007: €217) ♣ Number of visitors of 55k (2007: 58k) ♣ Continues to focus on attracting high rollers ♣ Private jet available for VVIPs from March 2009 14 14
Slide 15: Casino Rodos - Greece
Casino Rodos - Greece Number of Visitors / Win per Visitor Gross Gaming Revenues / EBITDA Margin Three months ended 30 September 2008 Three months ended 30 September 2008 60 300 18 50% Gross gaming revenues (EURm). Number of visitors (000's) . 15 Win per visitor (EUR) 250 EBITDA margin (%) 45 49.5%
Slide 16: Casino Palace - Romania
Casino Palace - Romania Q3 Highlights ♣ Overall Casino Palace has delivered a very strong performance in 2008 ♣ Net revenues were €4.5m (2007: €5.8m) ♣ EBITDA margin affected by fixed gaming tax on gaming equipment ♣ Average win per visit of €189 (2007: €218) ♣ Number of visitors of 25k (2007: 27k ♣
Slide 17: Casino Palace - Romania
Casino Palace - Romania Number of Visitors / Win per Visitor Gross Gaming Revenues / EBITDA Margin Three months ended 30 September 2008 Three months ended 30 September 2008 250 10 50% Gross gaming revenues (EURm). 218 Number of visitors (000's) . 30 Win per visitor (EUR) 8 EBITDA margin (%) 189 200
Slide 18: New Project – Casino Constanta
New Project – “Casino Constanta” ♣ Development started on Casino Constanta in a building of historical interest ♣ Constanta is Romania’s largest port and the Country’s main tourist destination ♣ Opening date to be reviewed ♣ Purchase of one square kilometre of land next to the casino in which we pla
Slide 19: New Project – SaSaZu, Prague
New Project – “SaSaZu”, Prague ♣ Entertainment centre to open under the name of SaSaZu ♣ Includes a night club, Asian restaurant, a slot machine hall and a garden café ♣ Scheduled to open in 2009 ♣ Plans to extend license to full casino 19 19
Slide 20: New Project - Sihanoukville
New Project - Sihanoukville ♣ Acquired nine hectares of land with the vision to establish a beachfront resort and casino ♣ Due to the economic slowdown, the timeframe for completion of this project is being reviewed * Picture shown is an artist’s impression of the project 20 20
Slide 21: New Project – Bulgaria
New Project – Bulgaria ♣ Theatre building was purchased in Sofia ♣ Cinema building was purchased in Varna ♣ We acquired these premises with the vision to develop new casinos based on the progress in Bulgarian gaming regulations 21 21
Slide 22: Summary
—~ Leisure International Ltd. Jen C0 xX TAC o, Summary
Slide 23: Outlook
Outlook ♣ Challenging environment continuing ♣ Focus on maintaining customer loyalty ♣ Continued investment in marketing to new and existing customers ♣ Reviewing investments in new projects ♣ Monitoring cost controls ♣ Long term potential remains unchanged 23
Slide 24: Appendix
—~ Leisure International Ltd. INIT IV Ks, X 4/ LAC L/ Appendix
Slide 25: Timeline
Timeline 1995 1999 2001 2002 2004 2005 2006 2007 2008 ♠ Opening of ♠ Take over ♠ Purchase of ♠ Secured ♠ $10m land acquisition for the casinos in operations and real estate in property in Cambodian beachfront resort Loutraki and commencement Varna and Prague ♠ Acquisition of plane to Bucharest of tu
Slide 26: Shareholding
Shareholding Free Float, 20.4% Yigal & Muli Ltd, 9.1% Y.Z. QUEENCO Ltd Fredy Robinson, 6.8% (with Shahar Hamilllenium) 63.7% 26
Slide 27: Disclaimer
Disclaimer This document has been prepared by the Company solely for use at presentations held in connection with the announcement of its Third Quarter Results for the three months ended 30 September 2008. The information in this document has not been independently verified and no representation or
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