Onespaworld Holdings Limited · NASDAQ:OSW
Onespaworld — Investor Presentation (December 2019)
21 slides from Onespaworld's investor presentation, December 2019
Slide 1: Investor Presentation | December 2019
INVESTOR PRESENTATION | DECEMBER 2019
Slide 2: Forward-Looking Statements
Forward-Looking Statements This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The expectations, estimates, and projections of the Company may differ from its actual results and consequen
Slide 3: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures This Investor Presentation includes non-GAAP financial measures for OSW which do not conform to SEC Regulation S-X in that it includes financial information (such as EBITDA, Adjusted EBITDA, Adjusted Net Income, Unlevered After-Tax Free Cash Flow, Levered After-Tax
Slide 4: FY 2019 and Q4 2019 Guidance
FY 2019 2019 Total revenues of $560-565M GUIDANCE Adj ust ed EBITDA of $58-60M Adj ust ed net income of $33 -34M Adjusted diluted EPS of $0.44-0. 47 on 73.4M shares as of September 30, 2019 Q4 2019 Total revenues of $137-142M Adj ust ed EBITDA $12-14M Adj ust ed net income $6-8M Adj ust ed diluted E
Slide 5: First Nine Months of Fiscal 2019 Accomplishments
S E C U R I N G E XIS TI NG C ONTR AC T S E x t e n d e d a g r e e m e n t s w it h N o r w e g i a n C r u i s e L i n e s ( t h r o u g h 2 0 2 4 ) , FIRST NINE P&O C r u i s e s UK (5 y e a r s ) , SA GA C r u i s e s (4 y e a r s ) , and W i n d s tar C r u i s e s (5 y e a rs ) . MONTHS OF FIS
Slide 6: Preeminent Global Health & Wellness Services Company
U N D I S P U T E D LEADER IN A HI GHLY ATTRACTI VE I NDUSTRY GLOBAL MEGATR ENDS D R I VI N G R OB U S T SEC TOR GROW TH PREEMINENT C OMPLEX BUS I NESS MODEL WHI C H C ANNOT BE R EP L I C ATED GLOBAL HI GH LY VI S I B L E, U NI QU E LY P R EDI C TABLE GROW TH HEALTH & WELLNESS EARLY I NNI NG S OF G
Slide 7: More Than 20 Consecutive Years of Global Passenger Growth
GL OB AL CR UI SE S HI P PA S S E N G E R S MORE THAN 20 CONSECUTIVE YEARS OF 28.5 30 GLOBAL PASSENGER GROWTH The global cruise industry has proven resilient through recessions, with passenger counts growing consistently for more than 20 years. 2018 2019P Sources: CLIA, Cruise Industry News, Managem
Slide 8: Global Mega Trends Drive Robust Cruise Sector Growth
GLOBAL MEGA R OB U S T GR OW TH IN CR U I S I NG ACR OSS ALL G EOG R APHI E S TRENDS MULTI PLE MEGA T R ENDS DR I VE P OS I T I VE OUTL OOK Global C r ui s e C apaci t y Gr owt h: 201 8 – 2023 DRIVE ROBUST CRUISE SECTOR AGI NG GL OB AL P OP U L ATI ONS GROWTH 6.6% Multiple long-term + CAGR 36.6M P E
Slide 9: OneSpaWorld Is a "Category of One"
ONESPAWORLD IS A “CATEGORY OF ONE” Undisputed Global Leader for More Than 50 Years OneSpaWorld is the ~ 10 x Next Largest Competitor undisputed leader in maritime health and Contracts with Almost Every Major Cruise Line that wellness services with Outsources Its Health & Wellness Centers 84% market
Slide 10: Comprehensive Services and Curated Brands to an Attractive Captive Audience
Broad Offering of Leading Brands Cruise Passengers are an Attractive Demo UNMATCHED SERVICE AND PRODUCT * * BREADTH ONBOARD COMPREHENSIVE SPA & BEAUTY $114,000 SERVICES SERVICES AVERAGE INCOME * AND CURATED MEDI-SPA BRANDS SOLD TO AN ATTRACTIVE FITNESS HEALTH 49 84% CAPTIVE * * YEARS OLD MARRIED NUT
Slide 11: Long-Term Agreements with the Largest Cruise Lines
20+ ~95% 5 Long-Term C-Level Relationships Across OSW’s Entire Fleet YEARS AVERAGE HISTORICAL YEAR Cruise CruiseLine Line Relationship Total CRUISE LINE CONTRACT AVERAGE Banner Relationship TotalShips Ships OSW Ships OSW Ships Banner RELATIONSHIP RENEWAL CONTRACT LONG-TERM HISTORY RATE LIFE 27 Years
Slide 12: Revenue Sharing Contracts
ONBOARD SALE OF HEALTH AND WELLNESS PRODUCTS AND SERVICES REVENUE SHARING ONESPAWORLD CRUISE LINES CONTRACTS OFFER COMPELLING RE S P ON S I B I L I T Y RE S P ON S I B I L I T Y VALUE FOR Recruit, train and manage Fund multi-million dollar buildout ONESPAWORLD the world’s largest onboard staff Depen
Slide 13: Global Cruise Operations Are Highly Complex
GL OB AL PA S S EN G ER CR UI SE R OUTE S GLOBAL CRUISE OPERATIONS ARE HIGHLY COMPLEX { VISITED EMBARKED ON WELCOMED 20M PASSENGERS AT OVER 1,270 GLOBAL PORTS OF CALL 7,872 VOYAGES 172 PORTS OF EMBARKATION In 2018, OneSpaWorld: MADE PLACED SENT STAFF ON OVER 2,263 MANAGEMENT VISITS TO SHIPS IN PORT
Slide 14: The Only Platform with the Processes and Infrastructure Necessary
BACK-END PLATFORM FRONT-END PLATFORM THE ONLY & KNOW-HOW & KNOW-HOW PLATFORM WITH THE PROCESSES Yield and Revenue Global Recruiting, Training AND INFRA- Management and Human Logistics STRUCTURE Product Supply Chain Exceptional NECESSARYTO Pre-Through Post-Cruise MANAGE THE Facility Design Expertise
Slide 15: Uniquely Visible and Predictable Growth
GR OW TH S TR ATEGY B UI LT ON THE F OLL OWI NG KE Y D R I VER S : UNIQUELY VISIBLE AND 1 Capture Highly Visible New Ship Growth with Current Cruise Line Partners Cruise capacity growth is highly visible and predictable, 4 Focus on Enhancing Health and Wellness Center Productivity Increase pre-booki
Slide 16: Predictable New Ship Orderbook
Public Global Cruise Orderbook Outlines Future New Ships History of On-Time Cruise Ship Builds PREDICTABLE NEW SHIP ORDERBOOK OneSpaWorld is the undisputed leader in maritime health and wellness services with 84% market share and unmatched global capabilities. ALL R EC ENT NEW S HI PS HAVE BEEN D E
Slide 17: Exclusive Access to a Highly Attractive Global Channel
Intro duct i on of High Val ue Ser vi c e s Drives Revenue Growt h Acro ss Exis ting Foot pr i nt SERVICE & PRODUCT INNOVATION AC UPUN C TURE 1ST V ESSEL EXCLUSIVE ACCESS TO 2005 AGR 85 86 84 94 25.1% C A HIGHLY 55 62 66 ATTRACTIVE FLEET ROLLOUT 47 GLOBAL 110 VESSELS BY 22 34 CHANNEL 2010 10 2008
Slide 18: Cruise Lines Are Increasingly Aligned with Us to Drive Onboard Revenue
Onboard Spend 2013-2018 1 HISTORICAL COLLABORATION } $9.1B CRUISE LINES ARE $6.5B INCREASINGLY >$2.6 BILLION ALIGNED WITH INCREMENTAL SPEND US TO DRIVE ONBOARD REVENUE NEW AREAS OF COLLABORATION 2013 2018 Cruise lines focus more and more on onboard spend and increasingly collaborate with OneSpaWorld
Slide 19: Strong, Visible and Consistent Revenue & EBITDA Growth
Historical & Projected Revenue Historical & Projected PF Adj. EBITDA1 ($ M , F Y E D e c . ) ($ M , F Y E D e c . ) $58 - $60 $560 - $565 $56 $535 $53 $507 $49 $476 $45 $453 STRONG, VISIBLE AND CONSISTENT REVENUE & EBITDA GROWTH Ship Count 152 156 157 163 170 EBITDA Margin 10.0% 10.3% 10.5% 10.5%. ~
Slide 20: Superior After-Tax Free Cash Flow Conversion
Unlevered After-Tax Free Cash Flow Conversion1 ~90% 2 MINIMAL NEW H&W CENTER CAPEX SUPERIOR Cruise lines fund nearly all 72% AFTER-TAX FREE maritime health and wellness 63% 62% 62% 51% CASH FLOW center buildout costs ASSET-LIGHT MODEL OneSpaWorld does not own any of its maritime H&W centers – all ma
Slide 21: Preeminent Global Health & Wellness Services Company
PREEMINENT GLOBAL HEALTH & WELLNESS U N D I S P U T E D LEADER IN A HI GHLY ATTRACTI VE I NDUSTRY SERVICES COMPANY GL OB AL MEGATR ENDS D R I VI N G R OB U S T SEC TOR GR OW TH COMPLEX BUS I NESS MODEL WHI C H C ANNOT BE R EP L I C ATED HI GH LY VI S I B L E, U NI QU E LY P R EDI C TABLE GR OW TH PR
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