Century Casinos, Inc. · NASDAQ:CNTY
Century Casinos — FY2016 Earnings Presentation
34 slides from Century Casinos's earnings presentation, Mar 10, 2017
Slide 1: Century Casinos Financial Results Year End 2016
CENTURY CASINOSFinancial ResultsYear End 2016
Slide 2: Forward-Looking Statements, Business Environment and Risk Factors
Forward-Looking Statements, Business Environment and Risk FactorsThis presentation may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the Privat
Slide 3: 2016 Net Operating Revenue by Reportable Segment and Operating Segment
Year End 2016 Net Operating Revenue by Reportable Segment and Operating Segment (in USD)Excluding Corporate and Other Operating SegmentCanada36%United States22%Poland39%Ships & Other3%CRA16%CSA1%CAL5%CDR12%CBS2%CTL13%CRC9%CPL39%Ships & Other3%
Slide 4: 2016 Earnings from Operations by Reportable Segment and Operating Segment
Year End 2016 Earnings from Operations by Reportable Segment and Operating Segment (in USD)Excluding Corporate and Other Operating SegmentCanada55%United States19%Poland22%Ships & Other4%CRA28%CSA2%CAL1%CDR22%CBS1%CTL11%CRC9%CPL22%Ships & Other4%
Slide 5: 2016 Net Income Attributable to Shareholders by Segment
Year End 2016 Net Income (Loss) Attributable to Century Casinos, Inc. Shareholdersby Reportable Segment and Operating Segment (in USD)Excluding Corporate and Other Operating SegmentCanada56%United States19%Poland20%Ships & Other5%CRA29%CSA2%CAL0%CDR24%CBS1%CTL11%CRC8%CPL20%Ships & Other5%
Slide 6: 2016 Adjusted EBITDA by Reportable Segment and Operating Segment
Year End 2016 Adjusted EBITDA*by Reportable Segment and Operating Segment (in USD)Excluding Corporate and Other Operating SegmentCanada50%United States22%Poland25%Ships & Other3%CRA23%CSA2%CAL3%CDR21%CBS1%CTL12%CRC10%CPL25%Ships & Other3%
Slide 7: Net Operating Revenue per Quarter
Net Operating Revenue per Quarter(in USD)17.617.818.717.718.028.328.829.429.131.628.131.330.437.933.531.933.235.234.536.30510152025303540Q1Q2Q3Q420122013201420152016
Slide 8: Balance Sheet (Selected Information in USD)
Balance Sheet(Selected Information in USD)*Book Value per Share is defined as total Century Casinos, Inc. shareholders’ equity divided by outstanding common shares.**Net Debt is calculated as total principal minus cash and cash equivalents. Debt as of December 31, 2016 includes $40.5 million related
Slide 9: Income Statement (Selected Information)
Income Statement(Selected Information as of December 31, 2016 in USD)*Adjusted EBITDA is a non-GAAP financial measure. See Appendix A for the definition and reconciliation of Adjusted EBITDA.
Slide 10: Constant Currency Results (in USD)
Constant Currency Results (in USD)*Net Operating Revenue and Earnings from Operations on a constant currency basis are non-GAAP financial measures. See Appendix A.
Slide 11: Constant Currency Results (in USD)
Constant Currency Results (in USD)*Adjusted EBITDA and Net Earnings Attributable to Century Casinos, Inc. Shareholders and Adjusted EBITDA on a constant currency basis are non-GAAP financial measures. See Appendix A.
Slide 12: Debt to Adjusted EBITDA
Debt to Adjusted EBITDA (in USD)As of December 314.3x2.0x1.7x0.8x0.3x2.7x3.0x1.6x2.2x0x1x2x3x4x5x200820092010201120122013201420152016
Slide 13: Canada (Selected Information in CAD)
Year End Highlights –CANADA(Selected Information in CAD)*Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See Appendix A for the definition and reconciliation of Adjusted EBITDA and Adjusted EBITDA margin.
Slide 14: Canada (Selected Information in CAD)
Year End Highlights –CANADA(Selected Information in CAD)*Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See Appendix A for the definition and reconciliation of Adjusted EBITDA and Adjusted EBITDA margin..As of December 31, 2016, the facility had 777 slot machines, 35 tab
Slide 15: Canada (Selected Information in CAD)
Year End Highlights –CANADA(Selected Information in CAD)*The Company acquired this casino on October 1, 2016.**Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See Appendix A for the definition and reconciliation of Adjusted EBITDA and Adjusted EBITDA margin..As of Decembe
Slide 16: Canada (Selected Information in CAD)
Year End Highlights –CANADA(Selected Information in CAD)*Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See Appendix A for the definition and reconciliation of Adjusted EBITDA and Adjusted EBITDA margin..As of December 31, 2016, the facility had 504 slot machines, 16 tab
Slide 17: Canada (Selected Information in CAD)
Year End Highlights –CANADA(Selected Information in CAD)*Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See Appendix A for the definition and reconciliation of Adjusted EBITDA and Adjusted EBITDA margin..As of December 31, 2016, the facility had 550 slot machines and 7 V
Slide 18: Canada (Selected Information in CAD)
Year End Highlights –CANADA(Selected Information in CAD)*Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See Appendix A for the definition and reconciliation of Adjusted EBITDA and Adjusted EBITDA margin..As of December 31, 2016, Century Bets provided pari-mutuel wagering
Slide 19: United States (Selected Information in USD)
Year End Highlights –UNITED STATES(Selected Information in USD)*Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See Appendix A for the definition and reconciliation of Adjusted EBITDA and Adjusted EBITDA margin.
Slide 20: United States (Selected Information in USD)
Year End Highlights –UNITED STATES(Selected Information in USD)*Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See Appendix A for the definition and reconciliation of Adjusted EBITDA and Adjusted EBITDA margin..As of December 31, 2016, the facility had 497 slot machines
Slide 21: United States (Selected Information in USD)
Year End Highlights –UNITED STATES(Selected Information in USD)*Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See Appendix A for the definition and reconciliation of Adjusted EBITDA and Adjusted EBITDA margin..As of December 31, 2016, the facility had 446 slot machines
Slide 22: Poland (Selected Information in PLN)
Year End Highlights –POLAND(Selected Information in PLN)*Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See Appendix A for the definition and reconciliation of Adjusted EBITDA and Adjusted EBITDA margin..As of December 31, 2016, Casinos Poland had 495 slot machines and 7
Slide 23: Corporate and Other (Selected Information in USD)
Year End Highlights –CORPORATE AND OTHER(Selected Information in USD)*Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See Appendix A for the definition and reconciliation of Adjusted EBITDA and Adjusted EBITDA margin..The Corporate and Other segment includes Cruise Ship a
Slide 24: Corporate and Other (Selected Information in USD)
Year End Highlights –CORPORATE AND OTHER(Selected Information in USD)*Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See Appendix A for the definition and reconciliation of Adjusted EBITDA and Adjusted EBITDA margin..As of December 31, 2016, Cruise Ships and Other had 22
Slide 25: Corporate and Other (Selected Information in USD)
Year End Highlights –CORPORATE AND OTHER(Selected Information in USD)*Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See Appendix A for the definition and reconciliation of Adjusted EBITDA and Adjusted EBITDA margin..Expenses incurred by Corporate Other consist primarily
Slide 26: Additional Projects Under Development
Year End Highlights –ADDITIONAL PROJECTS UNDER DEVELOPMENT Century Mile In September 2016, the Company was selected as the successful applicant by Horse Racing Alberta to own, build and operate a horse racing facility in the Edmonton market area, which the Company will operate as Century Mile. Centu
Slide 27: Appendix A – Non-GAAP Financial Measures
Appendix A –NON-GAAP FINANCIAL MEASURESThe Company supplements its condensed consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles (“US GAAP”) by using the following non-GAAP financial measures, which management believes are useful in properly un
Slide 28: Appendix A – Non-GAAP Financial Measures
Appendix A –NON-GAAP FINANCIAL MEASURESThe Company defines Adjusted EBITDA as net earnings (loss) attributable to Century Casinos, Inc. shareholders before interest expense (income), net, income taxes (benefit), depreciation, amortization, non-controlling interest (earnings) losses and transactions,
Slide 29: Appendix A – Non-GAAP Financial Measures
Appendix A –NON-GAAP FINANCIAL MEASURESThe impact of foreign exchange rates is highly variable and difficult to predict. The Company uses a Constant Currency basis to show the impact from foreign exchange rates on current period revenue compared to prior period revenue using the prior period’s forei
Slide 30: Reconciliation of Adjusted EBITDA – Canada
Appendix A –NON-GAAP FINANCIAL MEASURESReconciliation of Adjusted EBITDA (in thousands) -CANADA
Slide 31: Reconciliation of Adjusted EBITDA – United States
Appendix A –NON-GAAP FINANCIAL MEASURESReconciliation of Adjusted EBITDA (in thousands) –UNITED STATES
Slide 32: Reconciliation of Adjusted EBITDA – Poland
Appendix A –NON-GAAP FINANCIAL MEASURESReconciliation of Adjusted EBITDA (in thousands) –POLAND
Slide 33: Reconciliation of Adjusted EBITDA – Corporate and Other
Appendix A –NON-GAAP FINANCIAL MEASURESReconciliation of Adjusted EBITDA (in thousands) –CORPORATE AND OTHER
Slide 34: Reconciliation of Net Debt
Appendix A –NON-GAAP FINANCIAL MEASURESReconciliation of Net Debt (in thousands)