Vista Group International Ltd · NZX:VGL
Vista Group International — H1 2024 Earnings Presentation
30 slides from Vista Group International's earnings presentation, Aug 6, 2024
Slide 1: 2024 Half Year Results
2024 Half Year Results 6 August 2024
Slide 2: Important Notice
Important Notice This presentation has been prepared by Vista Group International Limited and its • although Vista Group’s management may indicate and believe the assumptions related companies (collectively referred to as Vista Group). This notice applies to this underlying the forward-looking state
Slide 3: Agenda
Agenda 01 Highlights / Strategy Stuart Dickinson | Chief Executive Officer 02 Financial Results Matt Cawte | Chief Financial Officer 03 Questions 3
Slide 4: Highlights
Highlights ora oneview Home ‘Showtime shut: Being the box office curtain > Play Box office $6.59M = 178% numero $3,389,429 mere Sietieora: North ames
Slide 5: Vista Group's vision for our digital ecosystem
Vista Group’s vision is for our digital ecosystem to connect the film industry and power the moviegoer experience. 5
Slide 6: Financial Highlights
Financial Highlights 1H24 $69.6m Total Revenue $69.6m n/c 1H23 $69.7m • Strong Recurring Revenue1 1H22 $62.4m and SaaS Revenue1 growth 1H24 $63.4m Recurring Revenue1 $63.4m 5% 1H23 $60.5m • EBITDA3 margin of 10%, up 1H22 $53.5m from 4% in 1H23 1H24 $25.4m SaaS Revenue1 $25.4m • Disciplined focus on
Slide 7: The Industry and 1H24
The Industry and 1H24 The Industry • Impacts of delayed movies, due to the writers' and actors' strikes, flowed through the first five months of 2024 • Stronger end to the period with: • Inside Out 2 the highest grossing animated movie of all time1 • Deadpool & Wolverine has the sixth-highest openin
Slide 8: Strong 2H24 Movie Slate
Strong 2H24 Movie Slate Building box office momentum $8B+ Domestic market forecast2 Inside Out 2 Released June 2024: US$1.5B+1 1. Source: Box office mojo 2H24 2. Source: Omdia Wide releases every week for rest of year3 3. Source: The Numbers 8
Slide 9: Vista Cloud – The Proof Points
Vista Cloud – The Proof Points 2023 2024 2025 Proving product-market fit Proving delivery at scale Delivery at scale, at pace On track for ~800 sites live On track for $175m+ on Vista Cloud capabilities ARR1 by end of 2025 by end of 2024 1. ARR is Annualised Recurring Revenue, calculated as trailing
Slide 10: Clear Client Pathway to Vista Cloud Adoption
Clear Client Pathway to Vista Cloud Adoption Operational Excellence Moviegoer Engagement Delivers early benefits, path and pace tailored to client priorities Digital Enablement Data Empowerment Core Confidence Data Data Digital Digital Moviegoer Moviegoer Operational Operational Empowerment Empowerm
Slide 11: Cinema Cloud Momentum
Cinema Cloud Momentum Acceleration across all cloud solution areas Live Now Live in 24/25 Contracting 1 Dec-23 Sites ‘live’ Live Live Target Target 30 Jun 5 Aug 31 Dec 31 Dec Vista Cloud 648 2024 2024 2024 2025 Vista 700 – Cloud 59 138 ~400 1,000 1,091 Digital Digital solutions solutions 166 247 ~80
Slide 12: Cinema Alignment to Industry Drivers
Cinema Alignment to Industry Drivers Solutions enable clients to capture value The movie Create memorable experiences and more with broader entertainment offerings Increase in revenue and Loyalty and Build audience engagement, drive incremental per admit engagement returns, and boost moviegoer reten
Slide 13: Real AI-Driven Solutions to Empower our Clients
Real AI-Driven Solutions to Empower our Clients Delivering practical business-oriented benefits “Vista Group is ahead of the curve. They’re using leading-edge [AI] tools like agents, which have really only been around as a concept for less than a year.” Microsoft New Zealand 13
Slide 14: Our Connected Ecosystem
Our Connected Ecosystem iil Movie marketing Websites & apps Film booking & sales Kiosk In-seat dining service Cinema & streaming guide Boxoffice reporting _-«==Releasedate planning = Markating §= Stock management Ticket valida ion Loyaity & subseriptions Circuit management Digital signage Gift cards
Slide 15: Financial Results
Financial Results 15
Slide 16: Income Statement
Income Statement NZ$m (Six months – Unaudited) 1H24 1H23 % Change • Total revenue flat, non- Total revenue 69.6 69.7 - recurring down 33% Total segmental expenditure (47.0) (48.7) -3% • Recurring Revenue4 up 5% Contribution margin1 22.6 21.0 +8% and SaaS Revenue4 up 20% General and administrative ex
Slide 17: Six Monthly Breakdown – SaaS P&L
Six Monthly Breakdown – SaaS P&L • Recurring revenue1 growth NZ$m (Six months – Unaudited) 1H22 2H22 1H23 2H23 1H24 underpinned by SaaS revenue1 Recurring revenue1 53.5 58.8 60.5 63.5 63.4 acceleration Non-recurring revenue1 8.9 13.9 9.2 9.8 6.2 Total revenue 62.4 72.7 69.7 73.3 69.6 • Post transfor
Slide 18: Post Transformation SaaS Costs
Post Transformation SaaS Costs SaaS Costs as % of Revenue G&A R&D S&M CTS • Overall operating leverage 100% showing significant 90% improvement 80% • Business transformation has CTS, 37% changed cost classifications 70% CTS, 41% 60% • Account management now classified as CTS (previously 50% S&M, 10%
Slide 19: Reporting Segments
Reporting Segments1 Cinema Cinema Segment – NZ$m (Unaudited) 1H23 2H23 1H24 • SaaS Revenue2 up 20%, SaaS revenue2 16.2 19.3 19.5 supporting overall 4% Non-SaaS revenue2 32.6 31.7 31.4 Recurring Revenue2 growth Recurring revenue2 48.8 51.0 50.9 Non-recurring revenue2 6.7 7.7 4.5 on 1H23 Total revenue
Slide 20: Financial Position
Financial Position NZ$m Jun 2024 Dec 2023 % Change • Cash position of $20.0m Unaudited Audited ($0.9m net of bank Cash 20.0 28.5 -30% borrowings) Receivables and other current assets 37.4 42.9 -13% • Cash and undrawn bank Non-current assets 152.6 149.0 +2% facilities of $42.9m Current liabilities (4
Slide 21: FCF / Cash Usage
FCF / Cash Usage1 NZ$m (Unaudited) 1H22 2H22 1H23 2H23 1H24 • Working capital was $3.1m Net movement in cash held (9.1) (6.0) (9.2) (8.0) (8.7) adverse in 1H243, after a Adjust for loan movements 0.1 - - (0.4) (0.8) sustained period of positive contribution from strong post Adjust for business trans
Slide 22: Cashflow
Cashflow NZ$m (Unaudited) 1H24 1H23 % Change Receipts from clients 75.3 78.4 -4% Payments to suppliers & employees (70.4) (71.7) -2% • Adjusting for changes in Business transformation items1 (0.5) - working capital2, operating Tax & interest (1.4) (0.5) cash flows of $6.1m Cash flow from operating a
Slide 23: Outlook
Outlook 23
Slide 24: Vista Group Outlook
Vista Group Outlook Strong cost control and accelerated client onboarding leads to margin expansion and 4Q24 FCF1 positive 2024 total revenue guidance of $148m-$153m (was $152m-$157m) Recurring Revenue2 of $133m-$137m (was $134m-$139m, implied) Non-Recurring Revenue2 of $15m-$16m (was ~$18m)
Slide 25: FY24 Recurring v Non-Recurring Guidance
FY24 Recurring v Non-Recurring Guidance Feb 24 Revenue Guidance Aug 24 Revenue Guidance Aug 2024 Key Assumptions: 160 160 • Improved 2H24 domestic box 152-157 150 150 148-153 office, full year now $8b+2 18 15-16 • Recovery of non-recurring 140 140 purchasing of hardware and 134-139 NZ$m NZ$m 133-137
Slide 26: Guidance and aspirations updated, higher EBITDA margin
Guidance and aspirations updated, higher EBITDA1 margin 100% Platform Jun 2024 FY24 Dec 2025 Aspirations Actuals Guidance Aspirations (not updated) Recurring $133m-137m Revenue Non-recurring $15m-16m Total $148m-153m Sites ~800 1,600+ 6,000+ (~400 on Vista Cloud) (Digital solutions or Cloud) ARR2 $1
Slide 27: Questions
Questions 27
Slide 28: Appendix
Appendix 28
Slide 29: Enterprise Site Count
Enterprise Site Count On-Premises & Vista Cloud: Compared to 30 June 2024 31 Dec New Closures 30 Jun Market Channel 2023 Sites 1 / Losses 1 2024 Enterprise Market Share3 46% Direct 4,630 50 (49) 4,631 India 1,663 106 (309) 1,460 Enterprise China2 362 362 Total Enterprise 6,655 6,453 Veezi 1,008 48 (
Slide 30: Thank You
V vista GRouP Thank You vista numero MOVIO maccs POWSTER oS
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