Slide 1: accesso: interim results 2016
accesso: interim results 2016 Wednesday, 14 September 2016 1
Slide 2: First half highlights
First half highlights 2
Slide 3: First half highlights
First half highlights Strong year-on-year growth in good market conditions Growth across all key financial Mix shift towards mobile metrics continues Group Revenue 23.7% $39.7m Six Flags extension signed & 57 new wins Merlin roll-out continuing on- time and on-track Adj, Operating Profit 212.5% $5.0m
Slide 4: Since we last met
Since we last met Change at the macro, management, operational and product levels Board Changes Ensures structure reflects how Group is run, enables the pursuit of growth and places key leadership roles in the right geographic locaMons ShoWare Rebrand Rebrand complete on May 5 2016, reflecMng ShoWare’
Slide 5: Operational Review
L : a —_ fe Operational Review
Slide 6: Accesso at the heart
Accesso at the heart Embedding accesso at the heart of a venue’s operations through long-lasting partnerships The Mcket • Four solutions addressing challenges and obstacles all operators share • The guest journey is geography and Loyalty and rewards Up and cross-sell vertical-ambivalent. Any region,
Slide 7: Winning new business
Winning new business Attracting new clients across both ticketing & queueing businesses 57 2 11 New New wins in New queuing Siriusware the period Parks clients 44 31% 31% Queueing Ticketing Passport guest Wins volumes up revenue up Strong new business performance from each division New wins driving
Slide 8: Expanding existing relationships
Expanding existing relationships Leveraging the strength of our portfolio to sell additional services to existing clients 8
Slide 9: Extending Market Leadership
Extending Market Leadership Decision to focus product R&D around customer needs is central to our strategy Operators standardising on our technology. Creates distance and differentiation from competitors Customers come with unique requirements We build accordingly, but non-exclusively All current acc
Slide 10: Financial performance
Financial performance 10
Slide 11: Financial KPIs
Financial KPIs Strong year-on-year key metric growth Group Revenue Adj. EPS 23.7% 260.2% Adj. Operating Profit Operating Cash Flow 212.5% $3.2m 11
Slide 12: Income statement
Income statement Step-change in performance following period of significant investment % of 1H 2016 ($m) 1H 2015 ($m) % of revenue YoY % revenue Revenue 39.7 100.0% 32.1 100.0% 23.7% COGS (17.4) (43.8)% (15.2) (47.4)% (14.5)% Gross Profit 22.3 56.2% 16.9 52.6% 32.0% Administrative expenses (15.8) (39.
Slide 13: Cash Flow
Cash Flow Improvement in EBITDA substantially converted into cash 1H 2016 ($m) 1H 2015 ($m) Change ($m) Operating cash flow 2.2 (1.0) 3.2 Fixed assets - tangible (0.7) (0.5) (0.2) Fixed assets – intangible - development (6.2) (2.8) (3.4) Share issue 2.1 0.0 2.1 Other financing/ forex (0.5) (0.2) (0.3)
Slide 14: Balance Sheet
Balance Sheet Balance sheet healthy 1H 2016 ($m) FY 2015 ($m) Change ($m) Intangible assets 74.9 71.9 3.0 Tangible assets 3.1 3.1 0.0 Inventory/ receivables/ payables 3.8 0.5 3.3 Income tax 0.4 0.8 (0.4) Deferred tax (2.6) (3.2) 0.6 Finance lease (0.1) (0.1) 0.0 Cash & debt (12.5) (9.4) (3.1) Net as
Slide 15: Debt Facility
Debt Facility Facility with Lloyds Signed – 14 March 2016 $25m – fixed throughout term Term: March 2019 but extendable to March 2020 Additional $10m (accordion) available to fund acquisitions Interest on drawdowns: 1.35% above Libor (Previously 1.75%) Fee on undrawn funds: 0.54% (previously 0.70%) 15
Slide 16: Looking ahead
Looking ahead 16
Slide 17: Strong foundations for the future
Strong foundations for the future A strategy underpinned by recurring revenue and loyal client base 1 2 3 Transaction-based Enviable revenue Long-term revenue model visibility partnerships Revenue from current Long-term commitments c.90% of full year revenue contracted customers from Merlin, Six Fla
Slide 18: Strategy: accelerating accesso's growth
Strategy: accelerating accesso’s growth A strong organic growth strategy with the ability to accelerate considerably via M&A and other initiatives 1 > Further penetration with existing clients > New clients, in both existing and new verticals ORGANIC GROWTH > Continued product development > Very sca
Slide 19: Outlook
Outlook Promising 1H momentum, with work to do in the second half l Strong start to 2016 l Challenges in July and August l Any impact from Brexit expected to be minimal l Board is comfortable with Group’s ability to meet its targets for the full year 19
Slide 20: accesso.
® accesso. &A Q