Reading International Inc · NASDAQ:RDI
Reading International — Shareholder Meeting (December 2023)
72 slides from Reading International's shareholder meeting presentation, Dec 13, 2023
Slide 1: 2023 Annual Meeting of Stockholders
DECEMBER 7, 2023 READING INTERNATINAL 2023 ANNUAL MEETING F STCKHLDERS
Slide 2: Agenda: Welcome, Introductions and Meeting Procedures
2023 annual meeting f stckhlders Agenda WELCME AND INTRDUCTINS MARGARET Ctter Chair, Serving as Presiding fficer ESTABLISHMENT F SATISFACTIN F MEETING PREREQUISITES (Satisfactin f Ntice and Qurum Requirements); MEETING CALLED T RDER S. Craig Tmpkins Executive Vice President and General Cunsel, Servi
Slide 3: Agenda: Presentation of Proposals and Discussion
2023 annual meeting f stckhlders Agenda IV. PRESENTATIN F PRPSALS AND DISCUSSIN; PENING F PLLS Prpsal 1 – T elect Five (5) Directrs t serve until ur Cmpany’s 2024 Annual Meeting f Stckhlders r until their successrs are duly elected and qualified. Prpsal 2 – Independent Auditr Ratificatin – T ratify
Slide 4: Agenda: Voting, Adjournment and Management Presentation
2023 annual meeting f stckhlders Agenda V. VTING VI. REVIEW AND ANNUNCEMENT F PRELIMINARY VTING RESULTS SYLVIA MRALES Cmputershare Inspectr f Electins VII. ADJURNMENT F ANNUAL STCKHLDERS MEETING MARGARET Ctter Presiding fficer Chair VIII. MANAGEMENT PRESENTATIN AND QUESTIN & ANSWER SESSIN Questins m
Slide 5: Disclaimers
DISCLAIMERS ur cmments tday may cntain frward-lking statements and management may make additinal frward-lking statements in respnse t yur questins. Such written and ral disclsures are made pursuant t the Safe Harbr prvisin f the Private Securities Litigatin Refrm Act f 1995. Althugh we believe ur ex
Slide 6: Financial Reconciliations
FINANCIAL RECNCILIATINS We use EBITDA in the evaluatin f ur Cmpany’s perfrmance since we believe that EBITDA prvides a useful measure f financial perfrmance and value. We believe this principally fr the fllwing reasns: We believe that EBITDA is an accepted industry-wide cmparative measure f financia
Slide 7: Two Businesses, Three Countries
TW BUSINESSES, THREE CUNTRIES 738,115 SF 88,824 SF 8,956 SF UP T 70,077 SF* 21,000 SF 14,000 SF 27,090 SF* Retail/ffice building in NYC 75% interest in NYC cinema building (ptential t build 96,000 SF) 2 ff Bradway Live Theatre fee prperties in NYC ffice building in Culver City, CA 3 mixed-use center
Slide 8: Long-Term Mission and 2024 Priority
LNG-TERM MISSIN STRATEGICALLY DRIVE THE DEVELPMENT AND PERATIN F UR GLBAL REAL ESTATEANDCINEMA ASSETS T CREATE LNG-TERM STCKHLDER VALUE . 2024 PRIRITY DUE T 1) INTEREST RATES REACHING HIGHEST LEVELS IN 22 YEARS, 2) UR UPCMING DEBT MATURITIES IN ACHALLENGED LENDING MARKET, AND 3) N U.S. SHUTTERED VEN
Slide 9: Committed to Sustaining Long-Term Stockholder Value
CMMITTED T SUSTAINING LNG-TERM STCKHLDER VALUE DUAL BUSINESS STRATEGY INTERNATINAL DIVERSIFICATIN STRNG BALANCE SHEET EXPERIENCED MANAGEMENT TEAM Pre-CVID: o ur steady cinema cash flow supported real estate development . Through and past -CVID: Diverse real estate portfolio supported o ur Company wh
Slide 10: Synergistic Diversification Supports Long-Term Value
SYNERGISTIC DIVERSIFICATIN SUPPRTS LNG-TERM VALUE Q3 2023 REAL ESTATE & CINEMA REVENUE (Diversified by business line and geography ) US CINEMA 50.5% NZ PRPERTY 0.6% US PRPERTY 2.4% $67.7 M Q3 2023** AU CINEMA 35.7% NZ CINEMA 6.3% AU PRPERTY 4.5% **Highest Total Revenues achieved for any quarter sinc
Slide 11: Pandemic Rebound: Total Revenue
READING INTERNATINAL, INC. - PANDEMIC REBUND Total Revenue (Cinema & Real Estate) In USD YTD September 2019-2023 $207,886 $62,841 $89,142 $155,908 $177,425 YTD YTD YTD YTD YTD 85% Recovery Worldwide Vs. 2019 Sep Sep Sep Sep Sep 2019 2020 2021 2022 2023 Worldwide (in thousands ) ** Second half f 2023
Slide 12: RDI Has Recovered Since Q2 2020 Despite Headwinds
RDI HAS RECVERED SINCE Q2 2020, DESPITE A VARIETY Of HEADWINDS CVID-19 PANDEMIC SUPPLY CHAIN ISSUES INFLATIN INCREASED LABR CSTS INCREASED INTEREST DEBTMATURITIES FFICE SPACE LEASING HLLYWD STRIKES SEISMIC ISSUES IMPRVED CAPITAL STRUCTURE IMPRVED CINEMACASH FLW STRENGTHENED REAL ESTATE EXPANDED ANGE
Slide 13: Total Revenue by Quarter
2020 – 2023 RDI TTAL REVENUE BY QUARTER – PRGRESSIVE IMPRVEMENT PST-PANDEMIC $21,307 $40,200 $45,807 $3,422 $36,033 $64,511 $65,055 $10,191 $31,803 $51,196 $66,563 $15,021 $49,918 $47,207 2021 2022 2023 2021 2022 2023 2020 2021 2022 2023 2020 2020 2021 2022 FIRST QUARTER SECND QUARTER THIRD QUARTER
Slide 14: Operating Income (Loss) by Quarter
2020-2023 RDI PERATING INCME (LSS) BY QUARTER – PRGRESSIVE IMPRVEMENT PST-PANDEMIC ($13,977) ($11,780) ($7,880) ($22,195) ($12,532) ($1,572) $1,789 ($17,375) ($10,951) ($6,731) $1,019 ($14,703) ($4,332) ($8,403) 2021 2022 2023 2021 2022 2023 2020 2021 2022 2023 2020 2020 2021 2022 FIRST QUARTER SECN
Slide 15: Adjusted EBITDA by Quarter
2020-2023 RDI ADJUSTED EBITDA BY QUARTER – PRGRESSIVE IMPRVEMENT PST-PANDEMIC $36,732 ($7,003) ($2,835) ($16,921) $37,059 $7,692 $6,682 ($11,569) ($2,364) $3,858 $6,148 ($7,775) $2,819 ($4,603) *EBITDA includes proceeds from the sale f assets t create liquidity during CVID-19 pandemic, including Man
Slide 16: The Power of the Movie Going Experience
THE PWER F THE MVIE GING EXPERIENCE IS Strong JESUS REVLUTIN Studies demonstrate dedication t the theatrical experience and commitment t theatrical window . Diversity f choices for moviegoers . Compelling and event driven marketing expanding audience. Content providers expanding Apple and MGM Amazon
Slide 17: Global Cinema Business Pandemic Rebound
RDI GLBAL CINEMA BUSINESS - PANDEMIC REBUND Total Cinema Revenue (B o x office , F&B and Ancillary) In USD YTD September 2019-2023 YTD Sep 2019 YTD Sep 2020 YTD Sep 2021 YTD Sep 2022 YTD Sep 2023 Worldwide 84% Recovery Worldwide vs. 2019 Source : Company SEC 10Q Filings.
Slide 18: 2023 Record-Breaking Releases
2023 RECRD BREAKING RELEASES* DEMNSTRATE STRENGTH F THEATRICAL EXPERIENCE APR 2023 JUL 2023 CT 2023 At $1.36 billion , second highest grossing animated film f all time, behind Disney’s Frozen 2 Highest grossing film released by Illumination Biggest worldwide opening for an animated film At $1.4 bill
Slide 19: US, AU, NZ Cinema Divisions Rebound
RDI’S US, AU, NZ CINEMA DIVISINS REBUND Total Cinema Revenue (B o x office , F&B and Ancillary) In USD** YTD September 2019-2023 YTD Sep 2019 YTD Sep 2020 YTD Sep 2021 YTD Sep 2022 YTD Sep 2023 YTD Sep 2019 YTD Sep 2020 YTD Sep 2021 YTD Sep 2022 YTD Sep 2023 YTD Sep 2019 YTD Sep 2020 YTD Sep 2021 YT
Slide 20: 2024 Capital Allocation Priorities
2024 CAPITAL ALLCATIN PRIRITIES BALANCE SHEET SNAPSHT AS F SEPTEMBER 30, 2023 2024 CAPITAL ALLCATIN PRIRITIES Review Real Estate Portfolio for cash generating opportunities Create liquidity through sale of non -strategic assets Focus on debt paydown Build cash reserves Conservatively invest in guest
Slide 21: Real Estate Strategy Priorities
Strategically evaluate o ur profile to find assets t o best liquidity and reduce interest expense. Continue to execute operational , marketing, leasing and capital investment strategies t engage with o ur communities and increase the value f o ur real estate assets. Advance re- development plans for
Slide 22: Global Real Estate 2024 Strategy to Increase Liquidity
GLBAL REAL ESTATE - 2024 STRATEGY T INCREASE LIQUIDITY Strategically evaluate Real Estate Portfolio to determine the most efficient assets t o monetize in light o ur upcoming liquidity needs. Similar t o o ur earlier Liquidity Strategy which started in 2020, we will prioritize assets whose value wou
Slide 23: AU/NZ Real Estate Portfolio
AU/NZ REAL ESTATE PORTFOLI7 MULTI-TENANTED PROPERTIES 317,252 SF (29,474m2) 78 4 LAND PARCELS IMPROVED WITH READING CINEMAS 180,240 SF (16,744m2 ) THIRD-PARTY TENANTS 260,637 SF (24,214m2 ) 2 UNDEVELOPED LAND PARCELS 84,195 SF (7,822m2)
Slide 24: AU/NZ Real Estate 2023 Highlights
AU/NZ REAL ESTATE 2023 HIGHLIGHTS 97% IMPROVED FROM Q2 2023 (95%) & Q1 2023 (95%) THIRD-PARTY TENANT OCCUPANCY RATE
Slide 25: Q3 2023 AU Real Estate Portfolio Highlights
OTHER Q3 2023 AU REAL ESTATE PORTFOLIO HIGHLIGHTS ANNUAL NEWBARKET MARKETS Sold Maitland property (NSW) in October 2023 for A$2.8 million and leased back to Reading Cinema on a short-term basis. Book Value of property was A$1.1M. AU Property Level Cash Flow increased by 8.3% vs. Q2 2023 (in local cu
Slide 26: Newmarket Village
Newmarket VILLAGE WELL-CURATED DEVELOPMENT ANCHORED BY READING CINEMA IN BRISBANE CITY(QLD) NEWMARKET VILLAGE ANCHORS AU REAL ESTATE PORTFOLITHIRD PARTY TENANTS 49 ANCHOR TENANTS Coles Supermarket Reading Cinemas Newmarket Hotel by ALH NET RENTABLE SQUARE FEET 165,828 SF (15,406 m2) OCCUPANCY YTD 99
Slide 27: Cannon Park
CANNON PARK GOV’T TENANT 3% VACANT 6% THIRD PARTY TENANTS 16 ANCHOR TENANTS Reading Cinemas Kingpin QLD Gov’t Dept of Transport NET RENTABLE SQUARE FEET 133,032 SF (12,359 m2) OCCUPANCY YTD 94%* WEIGHTED AVERAGE LEASE TERM 2.6 years** NEW LEASES YTD 7 New or Renewed Leases 33,626 SF (3,124 m2) VACAN
Slide 28: The Belmont Common
THE BELMONT COMMON READING CINEMA ANCHORED CENTER IN PERTH (WESTERN AUSTRALIA) THIRD PARTY TENANTS 6 ANCHOR TENANTS Reading Cinemas Dome Cafe NET RENTABLE SQUARE FEET 60,118 SF (5,585 m2) OCCUPANCY YTD 100%* WEIGHTED AVERAGE LEASE TERM 2.9 years** NEW LEASES YTD 0 VACANCIES YTD 0% READING CINEMAS 1%
Slide 29: YTD Nov 2023 AU Real Estate Portfolio Leases
YTD NOV 2023 AU REAL ESTATE PORTFOLI9 NEW LEASES (43,184 SF) / (4,012 m2 ) Signed with existing tenants with lease expiries NEW LEASES (7,190 SF) / (668 m2 ) Signed with new operators improving our well-curated tenancy mix 5 LEASE RENEWALS (2,432 SF) / (226 m2 ) Signed with existing tenants YTD NOV
Slide 30: AU Property Portfolio Tenant Sales Increase
+3.2% AU PROPERTY PORTFOLIQ3 2023 Combined AU Third Party Tenant Sales Increase (vs.Q3 2022), despite inflationary headwinds
Slide 31: AU Portfolio Improving Percentage Rent
AU PORTFOLIO IMPROVING PERCENTAGE RENT Newmarket VILLAGE THE BELMONT COMMON CANNON PARK A$265K YTD 11/30/2023 Paid by Third Party Tenants
Slide 32: Retail Ground Lease and South Melbourne Property
RETAIL GROUND LEASE REGIONAL MELBOURNE AREA Multi-year ground lease situated in Waurn Ponds, a residential suburb of Victoria. In addition to 8 screen Reading Cinema with TITAN LUXE, fully leased with two tenants and one telco tenant. SOUTH MELBOURNE, VIC Building is located on York Street in South
Slide 33: Assets in Wellington's Te Aro District
OUR ASSETS ARE LOCATED IN THE VIBRANT HEART OF WELLINGTON’S TE ARO DISTRICT “NEW ZEALAND’S MOST CREATIVE CITY” WELLINGTON
Slide 34: Our Key Property Assets, Wellington NZ
OUR KEY PROPERTY ASSETS WELLINGTON, NZ 161,071 SF OF LAND 85,000 SF improved with Courtenay Central building - Reading Cinemas, 53,755 SF retail space and 4,843 SF office To ensure community’s safety, we temporarily closed Courtenay Central in early 2019 for seismic reasons. One of a very few remain
Slide 35: Wellington Neighborhood Landmarks
Tākina - Wellington’s new convention and exhibition center owned by Wellington City Council (WCC), which opened June 2023 St. James Theatre - the recently renovated and strengthened crown jewel of Wellington’s theatre scene owned by WCC Museum of New Zealand Te Papa Tongarewa Wellington Harbour ACRO
Slide 36: Heart of the Cultural & Entertainment District
WE’RE IN THE HEART OF THE CULTURAL & ENTERTAINMENT DISTRICT Tākina Convention Centre (opened June2023) Tākina expected to host over 500,000 visitors in its first year. June 2023 - September 2023:Brickman Lego exhibition enjoyedapprox.100,000 visitors. December 2023:Marvel Exhibition targeting175,000
Slide 37: View of Wellington Harbour
VIEW OF VIBRANT WELLINGTON HARBOUR From COURTENAY CENTRAL LOCATION
Slide 38: US Real Estate Portfolio
US REAL ESTATE PORTFOLIO Up to 70,077 SF* of net leasable area (inclusive of potential BOMA adjustments) comprised of retail & office – 44 Union Square 75% interest in a 21,000 SF NYC cinema building (with development potential of 80,000 SF, plus additional 16,000 SF of air rights) - Cinemas 123 9,0
Slide 39: 44 Union Square
“We’re delighted to welcome pets and pet parents to this revolutionary flagship experience that embodies Petco’s fully integrated, omnichannel pet health and wellness ecosystem within a single pet care center,” -JUSTIN TICHY, PETCO’s COO 44 UNION SQUARE On June 1, 2023, Petco opened a new 25,000 SF
Slide 40: New York City Off-Broadway Theatres
NEW YORK CITY OFF-BROADWAY THEATRES COMPANY OWNS LAND & BUILDINGS MINETTA LANE THEATRE (approx.. 9,000 SF) One stage (399 seats) in the heart of New York City’s West Village Audible, a subsidiary of Amazon, just celebrated its 5th Anniversary of Audible Theater. Since its founding in 2018, Audible T
Slide 41: New York City Cinemas
NEW YORK CITY CINEMAS 123 COMPANY OWNS Land & Buildings 7,900 SF gross land area With inclusionary rights, we can build up to a maximum of approx. 96,000 RSF above grade. Currently operated as the Cinemas 123, boutique cinema on Upper East Side of NYC. Historically, asset treated as held for long-
Slide 42: Reading Viaduct & Adjacent Properties
READING VIADUCT & ADJACENT PROPERTIES PHILADELPHIA, PA In light of NYC's High Line and London's Camden Highline, benefits are clear. Reading Viaduct, though shorter than NYC’s High Line, is substantially wider. Its Southern terminus connects to Center City, a jump shot from the proposed new home of
Slide 43: Historic Rail Asset, Williamsport
HISTORIC RAIL ASSET 2438 TRENTON AVENUE, WILLIAMSPORT, PENNSYLVANIA COMPANY OWNS LAND & BUILDING 26.6-acre site, which includes 30,000 SF industrial building and multiple internal rail lines. It provides a user with a direct connection to the regional rail system operated by SEDA-COG. To improve Com
Slide 44: Office Building 5995 Sepulveda, Culver City
OFFICE BUILDING 5995 SEPULVEDA, CULVER CITY COMPANY OWNS LAND & BUILDING 27,090 RSF, three story office building ideally located in the heart of Culver City, one of the most dynamic creative nodes in West Los Angeles. To improve our Company’s overall liquidity, the property is an asset held for sale
Slide 45: Global Cinema Strategy 2024-2025
GLOBAL CINEMA STRATEGY 2024 – 2025 Proactively improve our dollar spend per guest through focus on programming, marketing, operational and pricing strategies. Grow cinema business through a disciplined approach to renovations and new opportunities. READING CINEMAS ANGELIKA FILM CENTER & CAFÉ CONSOLI
Slide 46: Movie Theaters Across Australia, New Zealand and US
62 MOVIE THEATERS (507 screens) ACROSS AUSTRALIA, NEW ZEALAND AND THE UNITED STATES AUSTRALIA 30 locations / 226 screens 4th largest exhibitor* As of today, one new cinema in the pipeline Operations began in 1996 – over 27 years of operating experience NEW ZELAND 11 locations / 67 screens 3rd larges
Slide 47: Cinema Portfolio Competitive Advantage
CINEMA PORTFOLIO COMPETITIVE ADVANTAGE INTERNATIONAL PORTFOLIO AU and NZ ARE stable economies with strong local FILM PRODUCTION, ENHANCING programming led BY HOLLYWOOD MOVIES 46% of our Total Theater Revenues generated in AU and NZ* OWNERSHIP VS. LEASING Reduces monthly occupancy costs, provides fin
Slide 48: 2023 Global Industry Box Office Is Bouncing Back
2023 GLOBAL INDUSTRY BOX OFFICE IS BOUNCING BACK 2019 BOX OFFICE 2022 BOX OFFICE TTM NOV 2023 BOX OFFICE Global $42.5 Billion $26.0 Billion (down 39% vs. 2019) $30.7 Billion (down 28% vs. 2019) North America $11.4 Billion $7.5 Billion (down 34% vs. 2019) $8.7 Billion (down 19% vs. 2019) Australia AU
Slide 49: 2024 Blockbuster Line-Up
2024 BLOCKBUSTER LINE-UP MARVEL 4 MOVIES DC 1 MOVIES BLOCKBUSTER FRANCHISES 25+ MOVIES FAMILY FAVORITES 12+ MOVIES
Slide 50: 2024 Blockbuster Line-Up Calendar
2024 BLOCKBUSTER LINE-UP JAN 12 Mean Girls FEB 14 Madame Web MAR 1 Dune : Part Two APR 12 Godzilla x Kong: The New Empire MAY 3 The Fall Guy JUN 14 Inside Out 2 JUL 3 Despicable Me 4 AUG 30 Kraven the Hunter SEP 6 Beetlejuice 2 OCT 4 Joker: Folie a Deux NOV 8 Venom 3 DEC 20 Mufasa: The Lion King
Slide 51: Angelika in NYC 2023 Specialty Films
ANGELIKA IN NYC – 2023 SPECIALTY FILMS THAT DELIVERED PAST LIVES At over $605,000, Angelika’s Box Office engagement ranked highest in North America and over 6% of North American reported Box Office ASTEROID CITY At almost $475,000, Angelika’s Box Office engagement ranked highest in North America BOT
Slide 52: AU/NZ Film Production Will Support Local Box Office
CONTINUING BOX OFFICE TREND 2024 – AU/NZ FILM PRODUCTION WILL SUPPORT LOCAL BOX OFFICE FORCE OF NATURE THE DRY 2 OPENS FEB. 8, 2024 200% WOLF OPENS APR. 25, 2024 MEMOIR OF A SNAIL OPEN TBC THE CONVERT OPENS APR. 25, 2024
Slide 53: Creative Programs and Experiences
CONTINUE TO DELIGHT OUR GUESTS WITH CREATIVE PROGRAMS & EXPERIENCES To supplement the release schedule and improve overall seat occupancy percentages, our global programming teams will continue to create exclusive content programs or series to keep our audiences engaged with our brands.
Slide 54: Focus on Elevating the Guest Experience
FOCUS ON ELEVATING THE GUEST EXPERIENCE SIGNIFICANT INVESTMENT MADE IN THE LAST DECADE IN NEW AND EXISTING CINEMA ASSETS LUXURY RECLINER SEATING 51% of US screens feature Luxury Recliner Seating 30% of AU/NZ screens feature Luxury Recliner Seating PREMIUM LARGE FORMAT (PLF) SCREENS 38% of US theater
Slide 55: F&B Spend Per Person Global Growth
F&B SPEND PER PERSON – GLOBAL SIX-YEAR GROWTH (US, AU & NZ) $4.99 $5.52 $5.84 $7.48 $7.60 $7.81 $4.62 $4.91 $5.67 $6.73 $7.33 $7.43 $4.12 $4.51 $4.90 $5.56 $6.24 $6.63 $3 $4 $5 $6 $7 $8 2018 2019 2020 2021 2022 2023 YTD Sep AU NZ *All in functional currency
Slide 56: Strong F&B Metrics Supported by Movie-Themed Menus
STRONG F&B METRICS SUPPORTED BY MOVIE-THEMED MENUS (US, AU & NZ)
Slide 57: Improve Guest Experience Through Digital Improvements
IMPROVE GUEST EXPERIENCE THROUGH DIGITAL IMPROVEMENTS 1. SUCCESSFUL ROLL OUT OF F&B ORDERING VIA WEBSITE & APP AU/NZ – Q3 2023 F&B ORDERING VIA WEBSITE/APP GENERATED A$0.71 PER HEAD IN AU AND NZ$0.51 PER HEAD IN NZ US - SOFT LAUNCHING Q4 2023 2. US WEBSITE SOFT LAUNCHING Q4 2023 IMPROVE PRIVATE WATC
Slide 58: US, AU & NZ Cinema Divisions Q3 2023 Operational Strength
US, AU & NZ CINEMA DIVISIONS Q3 2023 OPERATIONAL STRENGTH Q3 2023 CASH FLOW PRE-OCCUPANCY PER CAPITA* HIGHEST THIRD QUARTER EVER FOR US, AU & NZ CINEMA WITH EACH COUNTRY DELIVERING STRONG PER CAPITAS - BOX OFFICE, F&B & ANCILLARY REVENUE Q3 2023 ANCILLARY REVENUE HIGHEST THIRD QUARTER EVER FOR US CI
Slide 59: First International Angelika Opens in Brisbane
FIRST INTERNATIONAL ANGELIKA OPENS IN BRISBANE (QLD) Angelika Film Centre opened in Brisbane (QLD) on August 24, 2023 in the sophisticated mixed-use development, South/City/SQ 8 screens featuring all luxury recliners 3 ultra luxury Soho Lounge cinemas with waiter service from curated F&B menu Elegan
Slide 60: Expansion of AU/NZ Cinema Portfolio 2023-2026
EXPANSION OF AU/NZ CINEMA PORTFOLIO - 2023-2026 AUSTRALIA Three cinemas opened in AU in 2023 o Angelika Film Centre in Brisbane – October 2023 o Reading Cinemas with TITAN LUXE in Busselton – September 2023 o Reading Cinemas in Armadale – January 2023 One new Reading Cinemas planned in Noosa (QLD) (
Slide 61: US Cinema Renovation in 2024
US CINEMA RENOVATION IN 2024 ANGELIKA FILM CENTER & CAFÉ IN DALLAS, TX Full Top-to-Bottom Renovation with recliner seating Elevated F&B menu Lobby redesign
Slide 62: Reading International Financial Review
READING INTERNATIONAL FINANCIAL REVIEW GILBERT AVANES EXECUTIVE VICE PRESIDENT CHIEF FINANCIAL OFFICER & TREASURER
Slide 63: Summary Financial Data: Nine Months Ended September 30
SUMMARY FINANCIAL DATA STATEMENT OF OPERATIONS NINE MONTHS ENDED SEPTEMBER 30 ($ in thousands, except per share data) 2023 2022 2021 Revenues $ 177,425 $ 155,908 $ 89,142 Operating Income (Loss) (5,073) (20,080) (37,461) Interest Expense, net (14,063) (10,242) (10,437) Gain (Loss) on Sale of Assets
Slide 64: Summary Financial Data: Year End December 31
SUMMARY FINANCIAL DATA STATEMENT OF OPERATIONS YEAR END, DECEMBER 31 ($ in thousands, except per share data) 2022 2021 Revenues $ 203,115 $ 139,060 Operating Income (Loss) (28,483) (41,793) Interest Expense, net (14,392) (13,688) Gain (Loss) on Sale of Assets and Other Income (Expense) 6,763 95,981
Slide 65: Summary Balance Sheet
SUMMARY BALANCE SHEET ($ in thousands) 9/30/23 12/31/22 12/31/21 Cash and Cash Equivalents $ 11,925 $ 29,947 $ 83,251 Receivables 5,779 6,206 5,360 Other Current Assets 23,824 11,359 11,695 Total Current Assets 41,528 47,512 100,306 Operating Property, Net 261,614 286,952 306,657 Operating Lease Rig
Slide 66: Reading International Debt Summary
READING INTERNATIONAL DEBT DEBT SUMMARY AS OF SEPTEMBER 30, 2023 AS OF DECEMBER 31, 2022 ($ in thousands) Corporate and/or Property Debt Expiration Year Contractual Capacity Capacity Used Unused Capacity Contractual Capacity Capacity Used Unused Capacity Trust Preferred Securities C 2027 $ 27,913 $
Slide 67: Financing Matter Subsequent to Filing Q3 2023 Form 10Q
FINANCING MATTER SUBSEQUENT TO FILING Q3 2023 FORM 10Q WESTPAC/NZ LOAN On November 29, 2023, Westpac extended the terms and conditions of our loan to January 1, 2025. Currently our balance is NZ$13.8 million.
Slide 68: 2019 - Sept 2023 TTM Yearly Financial Trend
2019 – SEPT 2023 TTM YEARLY FINANCIAL TREND (IN USD) 2019 2020 2021 2022 09/30/23 TTM Assets* $674,989 $690,169 $687,702 $587,055 $532,597 Debt $208,380 $284,121 $236,110 $214,795 $207,751 Revenue $276,768 $77,862 $139,060 $203,115 $224,632 Adj EBITDA** $34,024 $(38,902) $(17,973) $(55) $5,392 $- $1
Slide 69: Core Values and Guiding Principles
EMPATHETIC approach to our stakeholders approach to our business analysis underpins our strategies our guests is paramount to our success Is a focus of our multi-year strategy means pursuing a long-term value strategy THE CORE VALUES & GUIDING PRINCIPLES INSPIRED BY OUR FOUNDER CONTINUE TO GUIDE US
Slide 70: Thank You to the Reading Team and Congratulations on 2023 Honors
THANK YOU TO THE ENTIRE READING TEAM AND, CONGRATULATIONS ON WELL-DESERVED HONORS IN 2023! SHOPPING CENTRE COUNCIL OF AUSTRALIA 2023 MARKETING AWARDS KYLER KOKUBUN Marketing & Events Manager 40 UNDER 40 BY PACIFIC BUSINESS NEWS HONOREE ROBERT SMERLING President, US Cinemas Reading International, Inc
Slide 71: Q&A Session
READING INTERNATINAL Q&A SESSION
Slide 72: Thank You
THANK YOU WE ARE STILL HERE OUR REAL ESTATE IS STRONG OUR CINEMAS CONTINUE THEIR REBOUND
Reading International — Shareholder Meeting (December 2023) on 6ix