Slide 1: Filing cover letter to BSE and NSE
FWEFQCEUSD ;_ August 20, 2019 - To, To, BSE Limited TheNational Stock Exchange of India Limited ' _ ListingDepartment Listing Department Exchange Plaza, Phiroze Jeejebhoy Towers, ' Dalal Street, 'Bandra-Kurla Complex Bandra East, Mumbai- 400 051 Mumbai - 400 001 Fax Nos: 26598237 / 26598238 Fax Nos.
Slide 2: Investor Presentation August 2019
Investor Presentation August 2019
Slide 3: Safe Harbor
Safe Harbor Certain statements in this document may be forward-looking statements. Such forward- looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factors that could cause our actual results to differ m
Slide 4: Contents
Contents 1 Q1 FY20 Performance … 4-12 2 About Prime Focus … 13-23 3 Annexures … 24-27
Slide 5: Q1 FY20 Performance
Q1 FY20 Performance
Slide 6: Q1FY20 highlights: Steady growth in revenues with steady EBITDA margins
Q1FY20 highlights: Steady growth in revenues with steady EBITDA margins Consolidated Income DNEG named 6% ‘Media Company of the Year’ Rs. 679 Cr YoY at Evening Standard Business Awards 2019 India, FMS 7% Worked on the biggest blockbusters Divisional 11% for the quarter as well top web series Revenue
Slide 7: Q1FY20 – Robust performance led by Creative Services
Q1FY20 – Robust performance led by Creative Services Revenue Adjusted EBITDA1 6.3% YoY 119 18.5% 22.0% 118 16.7% 20.0% 639 679 117 18.0% 116 118 16.0% 14.0% 115 12.0% 114 10.0% 8.0% 113 6.0% 112 111 113 4.0% 2.0% 110 0.0% Q1FY19 Q1FY20 Q1FY19 Q1FY20 Adjusted EBITDA Margin Figures in Rs Crore; Consol
Slide 8: IndAS 116 Impact – as on 1st April
IndAS 116 Impact – as on 1st April INR CR P&L Impact DNEG PFT PFL Consol Reduction in Rent Expenses (17) (3) (2) (22) Increase in Depreciation 13 2 2 16 Increase in Finance Cost 7 2 1 9 Additional Cost in P&L 2 0.4 0.7 3 Balance Sheet Impact DNEG PFT PFL Consol Operating Lease Capitalization 501 37
Slide 9: Robust performance by Creative Services, revenue and EBITDA continue to grow
Robust performance by Creative Services, revenue and EBITDA continue to grow Robust growth in revenues with strong execution Revenues1 Strong execution of VFX projects and continued broad basing in revenues with higher share coming from OTT / TV & Feature Animation – broadening base of revenues 8.
Slide 10: Working on top Hollywood projects
Working on top Hollywood projects Upcoming Movie Projects Upcoming TV Projects Aug-19 Aug-19 July-19 2019 2019 The Eight Hundred Hobbs & Shaw The New Pope Y The Dark Crystal: Age of Resistance Aug-19 Aug-19 Jul-19 2019 2020 Black Mirror S 5 The Boys Westworld – The New Mutants Fast and Furious: 9 Se
Slide 11: Tech/Tech Enabled Services reports stable revenues for the quarter
Tech/Tech Enabled Services reports stable revenues for the quarter Revenue growth impacted due to: Revenues Strong headwinds in FY19. Some promise and signs of recovery 120 100 New hires across Leadership, re-jig in team and re-engineered 80 business plan to re-energize the business 60 79 76 40
Slide 12: India FMS delivers steady performance with high profitability
India FMS delivers steady performance with high profitability Revenues Highlights: 42 Delivered revenue of Rs 39 Cr with Adj, EBITDA margins of 28.7% 39 Worked on the Bollywood blockbusters Kabir Singh among other projects like web series for Amazon – Leila. Q1FY19 Q1FY20 Strong Movie Releases
Slide 13: Indian Film and Media Services continues to remain strong
Indian Film and Media Services continues to remain strong Upcoming Movie Projects Recent TV Commercials Spotify Myntra https://www.youtube.com https://www.youtube.com /watch?v=g_jFPgXlWAo /watch?v=a1CVdRptU2k Mission Mangal Good news Dabang 3 Amazon Swiggy https://www.youtube.com https://www.youtube
Slide 14: Debt profile
Debt profile Consolidated Net Debt stood at Rs. 2,403 Cr as on 30th June, 2019 o Additional liability of Rs. 681 Cr as Operating Lease created due to adoption of Ind AS 116 The Company and its subsidiaries continue to consider options to raise funding through equity (including through private pl
Slide 15: About Prime Focus
About Prime Focus
Slide 16: PFL at a glance FY19
PFL@ FY19 Delivered creative services in 7 of top 10 global B.O. hits released in FY19 Revenues1 9% CAGR 2,645 900 Adj. EBITDA2 & EBITDA Margin (%) FY16 FY17 13% CAGR FY18 FY19 26.0% $500 mn+ Order Book 4 Oscar th in 5 years for work on First Man 2 23.5% 23.0% 24.0% for First Man & 800 20.3% 700 22.
Slide 17: Corporate Structure
Corporate Structure Founders Reliance Standard Other 34.97% 35.08% 22.0% 7.95% (Malhotra Family) Group Chartered PE Public Promoter has recently announced infusion of Rs 330 cr through Warrants at PFL at Rs.106 per share. The proceeds are largely expected to be used to pay off Debt; Proforma holding
Slide 18: Strong Leadership in all verticals
Strong Leadership in all 3 verticals Tier-1 Visual Effects Creative 5 Player & 30% Market Services Oscars Share in 3D Conversion • Visual Effects, including 3D Conversion and Animation Leader in cloud solutions for Media &Entertainment Tech/Tech industry Enabled • CLEARTM Media ERP Suite • Cloud-bas
Slide 19: Creative Services: World's No. 1 independent Tier 1 player
Creative Services: World’s No. 1 independent Tier 1 player Strong Leadership Proven Expertise 5 Oscar wins for Tier-1 Visual Effects Player House of choice for Inception, Interstellar, visually enhanced Ex Machina, Blade services Runner 2049 & First Man Top Grossers Unprecedented scale 82% US$310 mn
Slide 20: Technology Services: Pioneer & leader in cloud solutions for M&E industry
Technology Services: Pioneer & leader in cloud solutions for M&E industry Owns & operates World’s only Continue to have a robust Strong revenue model with Revenue at Rs. 3.0 bn, 81% Annuity contribution & hybrid cloud enabled Media order book to be executed 11% share ERP platform – CLEAR™ over next
Slide 21: CLEAR Media ERP – One Software for the entire M&E Enterprise
CLEAR™ Media ERP – One Software for the entire M&E Enterprise Production Create Transform Distribute Marketing Creation Across Supply Chain Broadcast Opportunity to Across Content Lifecycle be Oracle & Across Enterprise Enterprise SAP for M&E Applications Industry Transform Legal Marketing Workflow
Slide 22: India FMS: Dominating on home turf
India FMS: Dominating on home turf Offering complete media services across the spectrum. . Film Equipment Film chemical Editing/Color Film Studios Film Shooting treatment Correction Restoration & image Digital Distribution enhancement 2D to 3D Animation VFX & Animation High Margin in range of 30-40%
Slide 23: 'WorldSourcing' model = unmatched competitive edge
‘WorldSourcing’ model = unmatched competitive edge Global network providing highest quality, fastest time to market & most efficient pricing India (Mumbai, Kolkata, Noida, Hyderabad, Chandigarh, Bengaluru, Chennai and Goa) Canada • Over 7,000 skilled employees • Over 600 employees for MONTREAL • App
Slide 24: Robust financial performance ...
Robust financial performance ... Strong Revenue Growth Strong Growth in Adj. EBITDA Margins Operating profit Revenue 9% CAGR Adj EBITDA Adj EBITDA Margin Operating Profit 13% CAGR 23% CAGR - 12mth numbers 23.7% 372 2,645 600 23.0% 25.0% 400 348 353 2,314 20.3% 350 2,178 500 17.1% 1,901 544 537 20.0%
Slide 25: .. and continued focus on leverage
.. and continued focus on leverage Reported Net Debt / EBITDA 5.7x 4.3x 4.4x 3.0x 4.3x Net Debt – Rs 23 bn 2.4x FY14* FY15 FY16** FY17 FY18 FY19 Interest cost <10% on the back of higher share of foreign currency loans As on 30th March, 2013 As on 30th June , 2019 Proportion of $ linked debt Overseas
Slide 26: Annexure
Annexure
Slide 27: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Q1FY20 (ex % YoY % QoQ Particulars (Rs Crores) Q1FY20 Q1FY19 Q4FY19 Ind AS 116) Variance Variance Net sales / income from operations 677 677 624 8% 690 -2% Other Income 2 2 14 -84% 21 -89% Total Income 679 679 638 6% 710 -4% Total Expenditure 588 566 521 13% 529
Slide 28: Standalone Profit & Loss Statement
Standalone Profit & Loss Statement Q1FY20 (ex % YoY % QoQ Particulars (Rs Crores) Q1FY20 Q1FY19 Q4FY19 Ind AS 116) Variance Variance Net sales / income from operations 36 36 34 5% 49 -26% Other income 3 3 8 -61% 8 -59% Total Income 39 39 42 -7% 57 -31% Total Expenditure 28 26 25 10% 32 -14% Personne
Slide 29: PFL Shareholding Pattern
PFL Shareholding Pattern As on 30th June - 2019 Outstanding shares – 299 mn Others Public, 7.95% SCPE, 22.00% Promoters, 34.97% RMW Financial Services , 35.08% 28 28 Investor Update Q1 FY20
Slide 30: Contact us
Contact us Alok Gupta Nitesh Kumar/ Seema Shukla Prime Focus Limited Four-S Services Pvt Ltd Phone: +91 8291070073 Phone: +91 98915 70250/+91 124 4251442 Email: alok.gupta@primefocus.com Email: nitesh.kumar@four-s.com seema@four-s.com www.primefocus.com © 2016 Prime Focus Limited. All Rights Reserve
Slide 31: About Prime Focus Limited
About Prime Focus Limited Prime Focus Limited (PFL), the world’s largest independent integrated media services powerhouse, employs over 9,000 professionals in 18 cities across 5 continents. We provide end-to-end creative services (visual effects, stereo 3D conversion and animation), technology produ