Vista Group International Ltd · NZX:VGL
Vista Group International — FY2015 Earnings Presentation
24 slides from Vista Group International's earnings presentation, Feb 26, 2016
Slide 1: Vista Group – FY 2015 Results
Vista Group – FY 2015 Results 26 February 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: Introduction Results highlights Operating performance
> Introduction > Results highlights > Operating performance > Financial performance > Growth strategies > Questions PAGE 3
Slide 4: Vista Group - Introduction
VISTA GROUP - INTRODUCTION
Slide 5: Result Highlights
Result Highlights > Strong year on year performance with revenue up 39% and EBITDA up 60% on FY14 > Performance compared to PFI NZ$m 2015 Actual 2015 PFI Revenue 65.4 61.5 6% EBITDA 15.1 13.2 14% Adjusted Net Profit1 9.0 8.1 11% Highlights > Strong performance again from Vista Entertainment Solution
Slide 6: Timeline
Timeline November 2014 Vista March 2015 Ticketsoft July 2015 MACCS December 2015 Cinema completes acquisition in the USA signs Warner Bros in Share Dimension rollout to Regal completed USA acquisition Entertainment’s 582 announced sites in the USA August 2014 Vista May 2015 CCG August 2015 Group lis
Slide 7: Vista Group update
Vista Group update > Vista Group founded 1996 and listed on the NZX and ASX in Vista Entertainment August 2014 with a market capitalisation of $187.5m, at Solutions Ticketsoft acquisition listing and now at $410.0m 100% > Global footprint of sales and support with 350+ staff across 7 offices in Auck
Slide 8: Vista Group – Operating Performance
VISTA GROUP – OPERATING PERFORMANCE
Slide 9: Vista Entertainment Solutions
Vista Entertainment Solutions > Another very strong performance > 461 sites installed in 2015 (excluding Ticketsoft and CCG sites) Vista Entertainment Solutions installed sites > Regal’s commitment to Vista strengthened further – that will increase 5,000 their contribution in 2016 and beyond 4,500 4
Slide 10: Vista Entertainment Solutions
Vista Entertainment Solutions Large and/or high growth markets Country Market update China Good base but low penetration in large market USA/Canada Strong market share (40%+) but still significant upside Japan Distributor appointed Korea No presence currently France Distributor appointed and initial
Slide 11: Veezi
Veezi > 350 total installed sites by 31 December 2015 – more than 100 over PFI forecast > Revenue building with additional revenue from on-line fees, and additional chargeable modules, has increased average revenue per site > Certification for Veezi granted by Chinese authorities in 2015 > Opportuni
Slide 12: Movio
Movio > Movio Cinema > 37 Circuits using Movio Cinema – up from 20 at start of 2015 > 81 million members in the Movio database – the largest database of cinema going individuals in the world > 745 million emails sent in 2015 – up 53% > SMS integration introduced in Q4 – 500,000 SMS sent > Movio func
Slide 13: MACCS
MACCS > Core business performed well in 2015, with new 10 new customer installations of MACCS > Now installed in 45 territories TD Theatrical NT iMACCS > Signed Warner Bros. in USA Distribution Non Theatrical Web Portal System > Significant product development being undertaken and full implementatio
Slide 14: Numero
Numero > Numero provides fast and accurate box office numbers for film studios, distributors and cinema exhibitors > Now collecting box office results for over 99% of the Australasian market > Launched LIVE box office reporting service delivering up to the minute results from major multiplexes > 7 y
Slide 15: Vista Group - Financial Performance
VISTA GROUP - FINANCIAL PERFORMANCE
Slide 16: Trading Performance
Trading Performance NZ$m 2015 Actual 2015 PFI 2014 Actual Revenue 65.4 61.5 6.3% 47.2 38.6% Operating Expenses 55.3 49.7 11.3% 41.6 32.9% (13.6%) 82.1% During the year the 2014 actual was Operating Profit 10.2 11.8 5.6 restated from $4.0m to $8.2m due to an Net Profit attributable to shareholders 5.
Slide 17: Reconciliation to NPAT
Reconciliation to NPAT NPAT reconciliation Tax After Tax NZ$m Value Effect Value 2015 Net Profit attributable to shareholders 5.8 - Movio Contingent Consideration 2.0 0% 2.0 - LTI accrued expense 0.2 28% 0.1 - Acquisition expenses 0.7 28% 0.5 - Amortisation of Ticketsoft and CCG Intangibles 0.6 0% 0
Slide 18: Financial Position
Financial Position NZ$m 2015 Actual 2015 PFI 2014 Actual Current assets Cash and short term deposits 27.3 43.5 30.7 > Higher receivables at year end due to higher billing in last quarter and larger December quarter Other receivables 30.5 19.6 22.1 maintenance invoicing 57.8 63.1 52.8 Non current ass
Slide 19: Cash Flow
Cash Flow NZ$m 2015 Actual 2015 PFI 2014 Actual Cash received from trading 62.8 60.5 48.2 Cash applied from trading Operating expenses 53.0 44.0 39.3 > The high sales in the last quarter and Tax and interest 3.5 3.1 2.2 larger December maintenance renewals Listing costs 1.8 resulted in higher sales
Slide 20: Key Points
KEY POINTS
Slide 21: Dividend Policy
Dividend Policy > Dividend policy for FY15 to remain as per Prospectus guidance > That is there is no intention to pay a dividend on the FY15 results > Dividend policy for Vista Group has been reviewed and set for the future. > Dividend policy for FY16 and beyond is to distribute 30% to 50% of net p
Slide 22: Growth strategies – comparison to Prospectus
Growth strategies – comparison to Prospectus Vista Entertainment Solutions Expansion of market share Growth market share in key markets; US now over 40%, UK and Europe, China market > shares have also grown Expansion into new markets > New countries include France, Belgium, Switzerland, Indonesi
Slide 23: Outlook
Outlook > Historic CAGR for Group has been in 20% to 30% range – we would expect that to continue > Strong start to 2016 year for Vista Cinema, many good prospects > Veezi expected to grow at a faster rate with addition of France, China and Indian markets > Movio to continue sales of Movio Cinema an
Slide 24: Questions
QUESTIONS
Vista Group International — FY2015 Earnings Presentation on 6ix