Vista Group International Ltd · NZX:VGL
Vista Group International — Shareholder Meeting (May 2016)
39 slides from Vista Group International's shareholder meeting presentation, May 24, 2016
Slide 1: 2016 Annual Shareholders Meeting Chairman's Address
For personal use only Vista Group International Limited 2016 Annual Shareholders Meeting Chairman’s Address
Slide 2: Chairman's Address: Financials, Dividends, Operating Performance
Before moving to the formal business of today’s meeting, I would like to comment on some of the Group’s activities and achievements of the last 12 months. Financials For personal use only Vista Group delivered strong growth in the 12 months to 31 December 2015 and performed strongly against the targ
Slide 3: Investments and People
Investments Over the last 12 months, we have completed investments in Ticketsoft (USA), Share Dimension (The Netherlands) and Powster (UK) as well as the acquisition of Flicks (NZ). These are all For personal use only terrific businesses with great talent and will make a major contribution to Vista
Slide 4: For personal use only
For personal use only VISTA GROUP 2015 AGM : Event Cinema 3, Gold Class 24 May 2016
Slide 5: Meeting agenda
For personal use only • Introduction • Chairman’s Address • CEO Address • Questions on Annual Report & Financial Statements • Business Resolutions • Resolution 1 – Remuneration of Auditors • Resolution 2 – Re-election of Susan Peterson as a Director • Resolution 3 – Re-election of Kirk Senior as a D
Slide 6: Chairman's Address
For personal use only ADDRESS CHAIRMAN'S
Slide 7: Group CEO Address May 2016
For personal use only GROUP CEO ADDRESS 24 May 2016
Slide 8: Vista Group companies within the film industry value chain
For personal use only VISTA GROUP COMPANIES WITHIN THE FILM INDUSTRY VALUE CHAIN PRODUCTION DISTRIBUTION CINEMA EXHIBITION MOVIEGOER
Slide 9: VGL Update
VGL UPDATE For personal use only • Founded1996 & listed on NZX/ASX in Aug 2014 with market VISTA ENTERTAINMENT SOLUTIONS cap of $187M; now $470M • 400+ staff & 8 offices: - Auckland, Sydney, London, LA, Dallas, Holland, Shanghai, Romania • Completed the acquisition of Ticketsoft in 2015, a US compet
Slide 10: Financial Performance
For personal use only FINANCIAL PERFORMANCE
Slide 11: Result Highlights
Result Highlights For personal use only PFI ACHIEVEMENT Revenue up $3.9M or 6% - 65.4M actual vs 61.5M PFI. INVESTMENT & EBITDA up $1.9M or 14% - STRATEGY $15.1M vs $13.2M. OPERATING METRICS Successful installation of Vista into most Ticketsoft sites Strong cinema performance with VES turning in ano
Slide 12: Trading Performance
Trading Performance For personal use only All figures in $m’s 2015 ACTUAL 2015 PFI 2014 ACTUAL TRADING $ $ % $ % Revenue 65.4 61.5 6% 47.2 39% EBITDA 15.1 13.2 14% 9.4 61% 1 Adjusted Net Profit 9.0 8.1 11% 4.0 125% Note : percentages are 2015 actual increase/decrease to the PFI number & the 2014 act
Slide 13: Revenue Components
Revenue Components For personal use only Revenue by Type ARR as a % of Revenue 70.0 90% 60.0 80% 50.0 70% 40.0 60% 30.0 50% 20.0 40% 10.0 30% - 20% 10% 0% Base + 50% services + licenses to 2013 2014 2015 existing customers 2013 2014 2015 • Growth in all categories of revenue • Base = recurring licen
Slide 14: Pro Forma Financial Overview
Pro Forma Financial Overview For personal use only NZ$000 (Year ended 31 FY11 FY12 FY13 FY14 FY14 FY15 December) Pro Forma Pro Forma Pro Forma Pro Forma Actual Actual Total Revenue 25.0 33.7 38.7 50.7 47.2 65.4 EBITDA 4.5 8.8 9.0 9.62 9.4 15.1 Adjusted Net Profit3 4.0 9.0 Note: EBITDA is a non-GAAP
Slide 15: Financial Position
Financial Position For personal use only NZ$m 2015 Actual 2015 PFI 2014 Actual Current assets Cash & short term deposits 27.3 43.5 30.7 • Higher receivables at year end due to higher billing in last Other receivables 30.5 19.6 22.1 quarter including maintenance invoicing 57.8 63.1 52.8 • Cash balanc
Slide 16: Cash Flow
Cash Flow For personal use only 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 & larger Tax & interest 3.5 3.1 2.2 December maintenance renewals resulted in Listing costs
Slide 17: Dividend Policy
Dividend Policy For personal use only • Dividend policy for FY15 to remain aligned with Prospectus guidance, which was: • There is no intention to pay a dividend on the FY15 results. • Dividend policy for Vista Group has been reviewed & set for the future: • Dividend policy for FY16 & beyond is to d
Slide 18: Business Unit Review
For personal use only REVIEW BUSINESS UNIT
Slide 19: Vista Entertainment Solutions
Vista Entertainment Solutions For personal use only • Another very strong performance: Vista Cinema Sites • 461 sites installed in 2015 (excluding ~400 Ticketsoft & CCG sites in the process of being converted to Vista software) 5,000 • Regal’s commitment to Vista strengthened further; will increase
Slide 20: World Reach
87% CANADA 2,042/2,327 screens 22% EUROPE 4,172/18,600 screens 24% ASIA For personal use only 41% USA 12,784/31,293 screens 5,620/23,926 screens 97% CENTRAL AMERICA 5,865/6,072 screens 49% MIDDLE EAST 1,055/2,155 screens 22% SOUTH AMERICA 1,210/5,605 screens 95% AUSTRALASIA 1,604/1,636 screens 88% A
Slide 21: Veezi
Veezi For personal use only • 350 total installed sites by 31 December 2015 – more than 100 over PFI forecast – now 400+ • Revenue building with additional revenue from on-line fees & additional chargeable modules has increased average revenue per site • Certification for Veezi granted by Chinese au
Slide 22: Movio
Movio For personal use only • Movio Cinema • 37 Circuits using Movio Cinema – up from 20 at start of 2015 Member Data Held in Movio Database • 81 million members in the Movio database – the largest database of cinema going individuals in the world 90 81 • 745 million emails sent in 2015 – up 53% 80
Slide 23: MACCS
MACCS For personal use only • Core business performed well in 2015; 10 new MACCS installations The World’s Leading • Now installed in 45 territories Film Distributor Software • Signed Warner Bros. in USA • Significant product development being undertaken & full implementation expected in second half
Slide 24: Numero
Numero For personal use only • Numero provides fast & accurate box office numbers for film studios, distributors & 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
Slide 25: New Acquisitions
For personal use only NEW ACQUISITIONS
Slide 26: Share Dimension
SHARE DIMENSION For personal use only Key product is Cinema Intelligence: • Business Intelligence for Exhibitors – Big Data analysis Optimise film performance in a cinema environment: • Extract historical information from BO systems (Vista Cinema & others) • Build forecasting models for film perform
Slide 27: Powster
POWSTER For personal use only Provides world-leading film marketing products including interactive content to promote films. POWSTER Movie Platform: • Marketing platform for movie studios, powering the world’s biggest blockbusters • One destination per film with all cinemas & show-times listed • Off
Slide 28: Flicks
FLICKS For personal use only • Authoritative Australasia movie & cinema guide • Moviegoer access nationally for every movie playing; + cinemas, session times, booking links, videos & trailers, reviews (user & critical) + editorial from Australasia’s best industry contributors • NZ’s no. #1 film buff
Slide 29: China Partnership Transaction
For personal use only CHINA PARTNERSHIP TRANSACTION
Slide 30: China Cinema Industry
China Cinema Industry For personal use only Industry Background • China box office revenue is forecast to overtake the US by 2017: • China grew 48.7% 2014-2015 • ~1800 Cinemas opened in last 2 years Number of Screens Per Million People (2015) 200 • Fragmented cinema market; top 10 providers = 44% sh
Slide 31: Chinese Transaction – Key Terms
Chinese Transaction – Key Terms For personal use only WePiao Investment: • WePiao to acquire existing shares in Vista China for cash; will subscribe for new shares in Vista China, providing growth capital to the business • WePiao acquiring 2.0% of new shares in Vista Group issued at a one month VWAP
Slide 32: Summary
Summary For personal use only • Group Financial performance in excess of PFI for 2015 • Vista Cinema – Continued Growth in excess of 20%+ per annum • Recurring Revenue continues to grow • Movio continues to add exhibitor clients & is positioned for their studio products; strong growth prospects • Ot
Slide 33: Questions
For personal use only QUESTIONS
Slide 34: Business Resolutions
BUSINESS RESOLUTIONS For personal use only Confirmation of Proxies: • Resolution 1 – That the Board is authorised to fix the auditors remuneration. • Resolution 2 – That Susan Peterson be re-elected as a director of Vista. • Resolution 3 – That Kirk Senior be re-elected as a director of Vista.
Slide 35: Business Resolutions: Resolution 1
BUSINESS RESOLUTIONS For personal use only Confirmation of Proxies: • Resolution 1 – That the Board is authorised to fix the auditors remuneration. • Proxies held by the Chair 38,112,071.
Slide 36: Business Resolutions: Resolution 2
BUSINESS RESOLUTIONS For personal use only Confirmation of Proxies: • Resolution 2 – That Susan Peterson be re-elected as a director of Vista. • Proxies held by the Chair 38,112,071.
Slide 37: Business Resolutions: Resolution 3
BUSINESS RESOLUTIONS For personal use only Confirmation of Proxies: • Resolution 3 – That Kirk Senior be re-elected as a director of Vista. • Proxies held by the Chair 38,112,071.
Slide 38: General Business, Further Questions, Closing
For personal use only GENERAL BUSINESS FURTHER QUESTIONS CLOSING
Slide 39: For personal use only
For personal use only VISTA GROUP 2015 AGM 24 May 2016
Vista Group International — Shareholder Meeting (May 2016) on 6ix