Cinemark Holdings, Inc. · NYSE:CNK
Cinemark — Q4 2020 Earnings Presentation
28 slides from Cinemark's earnings presentation, Feb 26, 2021
Slide 1: Investor Presentation
Investor Presentation March 11, 2021 1
Slide 2: Forward Looking Statements
Forward Looking Statements FORWARD LOOKING STATEMENTS: Certain matters within this presentation include “forward–looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The “forward-looking s
Slide 3: Cinemark Overview
Cinemark Overview 3
Slide 4: Cinemark Overview
Cinemark Overview 331 Theatres 4,507 Screens • One of the largest and most influential movie theatre companies in the world – 531 theatres with 5,958 screens in 16 countries (1) • U.S. Operations (2) – Third largest exhibitor in terms of market share – 42 states, 104 DMAs – #1 or #2 in box office re
Slide 5: Highly Experienced Management Team
Highly Experienced Management Team Lee Roy Mitchell Mark Zoradi Founder & Executive Chairman CEO & Board Director Founded Cinemark in 1987, served as CEO Served as Cinemark’s CEO since 2015. Spent through 2006 and has served as Executive 30+ years at Walt Disney Company, most Chairman since 1996 rec
Slide 6: Exhibition Industry Trends
Exhibition Industry Trends Stable, long-term industry growth trends across technology innovations and economic cycles North America Box Office Trends Recliners and enhanced food DVD player Digital projector conversion Investments ... drops to$100 (DVD heyday) Mass OTT streaming adoption ... Recessio
Slide 7: Broad and Leading Presence in the Americas
Broad and Leading Presence in the Americas Strong presence across the U.S. and Latin America that is strategically important to film distributors as well as promotional partners Market Share - North America1 Market Share - Key Latin American Markets1 Cinemark 27% Cinepolis 37% Kinoplex AMC Brazil Ar
Slide 8: Pre-COVID Summary & Financials
Pre-COVID Summary & Financials 8
Slide 9: Initiatives to Drive Growth and Outperformance
Initiatives to Drive Growth and Outperformance Cinemark’s strategic initiatives drove growth and consistent outperformance leading into the crisis. While the initiatives are currently being reprioritized, we expect these to be a focus over the long-term. 1 Create an extraordinary in- theatre guest e
Slide 10: Consistent Industry Outperformance
Consistent Industry Outperformance Cinemark has surpassed North American industry box office growth 40 out of the past 45 quarters and has consistently led the industry in profitability 2014 - 2019 Admission Revenue Growth 1 CNK WW Adjusted EBITDA Growth 1, 2 +6% 22.9% CAGR $745 17.3% $551 10.1% Nor
Slide 11: 2019 Financial Summary
2019 Financial Summary Amounts in millions 2019 Worldwide Results Highlights • Served ~280 million patrons globally • Achieved 5th consecutive year of record revenue with top- 5-Year line growth in U.S. and International2 segments 2019 CAGR • Exceeded North America industry box office growth by Atte
Slide 12: Track Record of Balance Sheet Strength
Track Record of Balance Sheet Strength Cinemark has historically maintained a conservative, low leverage profile and maintained cash on-hand of ~$0.5B with a focus on maintaining the balance sheet strength as it was considered a strategic asset 2015 - 2019 Leverage Secured Debt / Adj. EBITDA Net Deb
Slide 13: COVID-19 Update
COVID-19 Update 13
Slide 14: 2020 Financial Summary
2020 Financial Summary Amounts in millions FY 2020 Worldwide Results Highlights • Ahead of the crisis, through Feb QTD, on relatively flat attendance, revenue was up 5%, Adj. EBITDA had increased 16% and Adj. EBITDA margin expanded ~200 bps compared to 1Q19 FY20 FY19 • The impact of COVID-19, includ
Slide 15: Liquidity Runway
Liquidity Runway Based on our current estimates for recovery, we believe we have and will generate sufficient cash to sustain operations Liquidity Runway Highlights $’s in millions • Liquidity runway extends into fourth quarter of 2021 and into FY20 2022 with the incremental tax refunds we expect to
Slide 16: Key Liquidity Actions
Key Liquidity Actions We have been working aggressively to preserve cash and bolster liquidity to effectively navigate through the crisis; we have limited cash burn and secured a runway into 2022 if the current operating environment continues Eliminated Non- Cash Preservation & Liquidity Actions Ess
Slide 17: Streamline & Business Efficiency Actions
Streamline & Business Efficiency Actions Have enacted, and are continuing to pursue, varied productivity and efficiency initiatives to achieve our strategic cash management and profitability objectives, including aligning expenses with near-term demand. Optimizing operating hours and showtime schedu
Slide 18: Enhanced Cleaning, Safety and Efficiency Measures
Enhanced Cleaning, Safety and Efficiency Measures A range of enhanced cleaning and distancing protocols have been implemented to ensure guest and employee safety • Staggering show times to minimize crowds and implementing seat buffering technology within our point-of-sale system that will ensure phy
Slide 19: Domestic Theatre Results
Domestic Theatre Results The results of our test-and-learn theatres were instrumental in the phased reopening of our global circuit with key learnings on training, communication, implementation and execution of our clean and safety protocols in this new operating environment. • Box office of $44.4M
Slide 20: Theatre Reopening Status
Theatre Reopening Status Cinemark’s reopening strategy was based on a range of strategic health, regulatory and consumer considerations, as well as active collaboration with our studio partners on the timing of their new film releases Reopening Considerations Reopening Timeline and Approach • ~75% U
Slide 21: A Look Ahead
A Look Ahead 21
Slide 22: Theatre Industry – A Look Ahead
Theatre Industry – A Look Ahead • Innovating and evolving movie-going the movie-going experience with Private Watch Parties and reparatory content as we await the reignition of the industry • We believe pent-up demand for out-of-home entertainment, along with a backlog of strong film content, bodes
Slide 23: 2021 Film Slate
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Slide 24: 2022 Film Slate
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Slide 25: International Theatrical Momentum
International Theatrical Momentum As shown in international markets where COVID-19 is more contained, such as China, Japan and Australia, the box office has seen significant pent-up demand and record-breaking theatrical releases Japan China Australia Demon Slayer: Detective Hi, Mom Wonder Woman 1984
Slide 26: Appendix
Appendix 26
Slide 27: FY 2020 Non-GAAP Measure Reconciliations
FY 2020 Non-GAAP Measure Reconciliations $’s in thousands Reconciliation of Cash Flows (Used for) Reconciliation of Net Income/(Loss) to Adjusted EBITDA Provided by Operating Activities to Free Cash Flow FY 2020 FY 2019 FY 2020 FY 2019 Net Income/(Loss) ($617,948) $193,848 Cash flows (used for) prov
Slide 28: Thank You
Thank You Chanda Brashears SVP Investor Relations cbrashears@cinemark.com 972-665-1671 28