Vista Group International Limited/Announcement

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Investor Presentation3 March 2019VGLInformation Technology

VISTA GROUP 2018 FULL YEAR RESULTS
INVESTOR ROADSHOW UPDATE
4 March2019

AGENDA
VISTA GROUP SUMMARY
KIMBAL RILEY
GROUP CHIEF EXECUTIVE
FINANCIAL RESULTS
RODNEY HYDE
CHIEF FINANCIAL OFFICER
OPERATIONAL HIGHLIGHTS
KIMBAL RILEY
GROUP CHIEF EXECUTIVE
WILL PALMER
CEO MOVIO
OUTLOOK
Q+A

VISTA GROUP SUMMARY
A bumper year as Vista Group continues to deliver consistently strong
growth and profit.
•23%increase in Revenue –the 5th consecutive year of 20%+ growth
•Increase in operating leverage (EBITDA % of revenue)in both Cinema
(+6%) and Movio(+18%)
•21%increase in Operating Profit
•150%increase in Operating Cash Flow
•24%increase in Recurring Revenue to $79.9m –61% of Total Revenue
•26% increase in Earnings Per Share from $0.06 in 2017 to $0.07
•29% CAGR for revenue since the IPO in 2014.
3

VISTA GROUP 2018 HIGHLIGHTS
•Balance sheet remains very strong with low debt and a strong
cash position
•Vista Cinema global market share of 20+ screens segment
increased to 40%
•Signed integrated Group agreements with leading global
Cinema Circuits –Cineworld and Odeon
•Core businesses –Vista Cinema and Movio-deliver stellar
performances –Movioa standout
•SaaS
1
revenue represent 32%of Total Revenue in 2018,
up from 25% in 2017.
1 SaaS revenue is defined as revenue earned from solutions that are hosted by Vista Group, which typically attract a subscription revenue type.
4

FINANCIAL HIGHLIGHTS
RECURRING REVENUE
$79.9m
(up 24%)
OPERATING PROFIT
$24.7m
(up 21%)
TOTAL REVENUE
$130.7m
(up 23%)
OPERATING CASHFLOW
$27.6m
(up 150%)
FINALDIVIDEND
2.10
CENTS P/SHARE
(Total FY18 dividend up 27%)
EBITDA
1
$29.2m
(up 17%)
1
EBITDA is a Non-GAAP measure and is defined as earnings before net finance expense, income tax, depreciation, amortisation, acquisition costs and equity-accounted results from
associate companies. Expenses related to the VCL deferred consideration is also excluded. This is consistent with the measureused in the Prospectus
dated 3 July 2014. Depreciation and amortisationin 2018 $4.2m (2017: $3.6m).
5

VISTA GROUP -5 YEAR REVENUE
0.
35.
70.
105.
140.
20142015201620172018
$ MILLIONS
+$18.2M
+$23.2M
+$18.0M
+$24.1M
29%
CAGR 2014-2018
6

22% ASIA
10,358/46,339 screens
97% AUSTRALASIA
1,849/1,910 screens
29% EUROPE
6,014/20,497 screens
96% AFRICA
821/854 screens
38% SOUTH AMERICA
2,433/6,378 screens
98% CENTRAL AMERICA
7,217/7,387 screens
85% CANADA
2,082/2,446 screens
48% USA
16,505/34,230 screens
58% MIDDLE EAST
1,661/2,886 screens
Vista World Share
Vista Cinema percentage of the world market –for cinema exhibition companies with 20+ screens
40% WORLD WIDE
48,940/122,927 screens

FINANCIAL RESULTS
8

TRADING PERFORMANCE
•Another year of 20%+ Revenue Growth
•Profit and EBITDA
1
improvements.
1
EBITDA is a Non-GAAP measure and is defined as earnings before net finance expense, income tax, depreciation, amortisation, acquisition costs and equity-accounted results from associate companies.
Expenses related to the VCL deferred consideration is also excluded. This is consistent with the measure used in the Prospectus dated 3 July 2014. Depreciation and amortisationin 2018 $4.2m (2017: $3.6m).
For twelve months ended
NZ$m31 Dec 201831 Dec 2017% CHANGE
Revenue130.7106.623%
Expenses106.987.023%
Foreign exchange losses / (gains)(0.9)(0.8)
Operating Profit24.720.421%
Net finance revenue / (costs)(0.7)(0.3)
Share of loss from associates (3.0)(3.3)
Profit Before Tax21.016.825%
Net Profit attributable to Vista Group Shareholders12.39.727%
NZ$m2018 Actual2017 Actual
EBITDA
1
29.225.017%
9

OPERATING SEGMENTS
10
ADDITIONAL GROUP COMPANIES
CINEMA
MOVIO
ASSOCIATES
EARLY STAGE INVESTMENTS

11
OPERATING SEGMENTS
2018
NZ$M
CinemaMovio
Additional Group
Companies
Early Stage
Investments
CorporateTotal
Revenue
82.422.815.04.55.9130.7
EBITDA
1
25.66.21.40.4(4.5)29.2
EBITDA % of revenue
31%27%9%10%(76%)22%
2017
NZ$M
Cinema
Movio
Additional Group
Companies
Early Stage
Investments
CorporateTotal
Revenue
67.615.512.31.210.0106.6
EBITDA
1
19.83.60.6(1.8)2.725.0
EBITDA % of revenue
29%23%5%(150%)27%23%
•Cinema segment revenue grew 22% and EBITDA
1
29%, demonstrating improved operating leverage.
•Moviodelivered exceptional 2
nd
half performance driving overall revenue increase of 47% and EBITDA
1
increase of 74%.
•Improved operating margin leverage in largest segments, Cinema (+6%), Movio(+18%).
•China localisationrevenue is reported in the Corporate segment but the cost of delivery is embedded within Vista Cinema and Movio.
China localisationwork is now complete in 2018.
Note: EBITDA
1
is a Non-GAAP measure and is defined as earnings before net finance expense, income tax, depreciation, amortisation, acquisition costs and equity-accounted results from associate companies.
Expenses related to the VCL deferred consideration is also excluded. This is consistent with the measure used in the Prospectus dated 3 July 2014. Depreciation and amortisationin 2018 $4.2m (2017: $3.6m).

12
FINANCIAL POSITION
•Strong balance sheet maintained, giving
capacity to take advantage of new
opportunities and development as well as
support dividend program.
•Cash increased $13.4m due to strong
operating cash flows.
•Receivables has reduced $9m despite an
increase in revenues of 23%.
•Increase in intangibles driven by further
capitalisationof internally generated software.
•Increase in investment in associate is due
to 7.9% equity purchase in Vista China
during 2018.
NZ$M
CURRENT ASSETS
31 Dec 201831 Dec 2017
Cash & short term deposits
34.421.0
Trade & other receivables62.371.3
96.692.3
NON CURRENT ASSETS
Plant & equipment5.44.6
Investment in associate
31.926.1
Intangibles87.281.2
124.5112.0
TOTAL ASSETS
221.1204.2
Current liabilities43.741.2
Non current liabilities
Loans11.910.7
Deferred tax and consideration6.04.2
18.014.9
NET ASSETS
159.4148.1
Share capital59.457.8
Retained earnings
80.875.2
Reserves6.03.8
Non controlling interests13.211.2
TOTAL EQUITY
159.4148.1

13
CASH FLOW
•Increase in receipts from customers driven by
YOY revenue increase combined with improved
debtor recovery.
•Investment in internally generated software
consistent with Vista Group's strategy
to continue to invest in projects to improve
our products and provide a platform for
future growth.
•2017 final dividend paid in March and 2018
interim dividend paid in September.
•Other investing activities in 2018 is
predominately purchase of PP&E. This
is less than 2017 due to the absence of
business acquisition payments and contingent
consideration paid.
NZ$M
31 Dec 201831 Dec 2017
Receipts from customers
132.4105.1
Cash was applied to:
Payments to suppliers & staff(96.0)(87.1)
Tax & interest(8.8)(7.0)
(104.8)(94.1)
NET CASH FLOWSFROM OPERATING ACTIVITIES
27.611.0
CASH FLOWS FROM INVESTING ACTIVITIES
Investments in internally generated software(7.9)(5.0)
Other investing activities(2.2)(5.4)
(10.1)(10.4)
CASH FLOWS FROM FINANCING ACTIVITIES
Loans and borrowings
0.26.5
Dividends paid(6.1)(6.5)
(5.9)0.0
NET MOVEMENT IN CASH HELD
11.60.7
Foreign exchange differences1.8(1.0)
CASH BALANCE
34.421.0

DIVIDEND PROPOSAL
•The directors have resolved to pay a final dividend at the top of the policy
range (50%) and that the dividend will carry full imputation credits
•The value of the final dividend will be 2.10 cents per share representing a
total payment of $3.5m
•The record date for the dividend is 5pm on Monday, 11 March 2019 with
the payment date set for Friday, 22 March 2019
•This is in addition to the interim dividend declared and paid in September
2018 of 1.60 cents per share, a total payment of $2.6m
•Total FY18 dividend 27% increase on FY17.
14

15
VISTA GROUP
OPERATIONAL HIGHLIGHTS

CINEMA SEGMENT
Vista Cinema provides cinema management software to the world’s largest
cinema exhibitors
•1013 new sites in 2018 (including 199 sites in China).
•Total now 7,202 (161 sites removed from count at half year in France). Total in China now 958.
•Vista Cinema now has customers in 97 countries.
•Market share globally of 20+ screen segment at 40%.
•Excluding China -market share of 20+ screen segment is 48.1%.
•First cloud deployed customers live and in production.
•Additional revenue stream from 3
rd
parties approaching $3.5m.
$82.4M
REVENUE
GROWTH +22%
13%
GROWTH IN TOTAL
SITES TO 7,202
31%
EBITDA%
(UP BY 6%)
$25.6M
EBITDA
GROWTH +29%
'-
300
600
900
1,200
201320142015201620172018
NEW SITES ADDED
existing customersnew customersacquisitions
0
2,000
4,000
6,000
8,000
201320142015201620172018
TOTAL SITE COUNT
0
16

CINEMA SEGMENT -CONTINUED
14%
INCREASE IN SITE
REVENUE TO
$588P.MTH
59%
INCREASE
IN ARR TO
$6.35M
40%
GROWTH IN
CONTRACTED
SITES TO 901
56%
REVENUE
GROWTH
Provides cinema management software to the world’s independent cinema
exhibitors
•258 new sites bring total site numbers to 901 –including China.
•China now with 93 sites, an increase of 72 over 2017.
•14% increase in revenue per site compared to 2017.
•USA continues to be strongest market for Veeziwith over 500 sites.
•Veezinow present in 36 countries.
0
250
500
750
1,000
201320142015201620172018
VEEZI –TOTAL SITE COUNT
0
150
300
450
600
750
201320142015201620172018
AVERAGE REVENUE PER MONTH
17

CINEMA SEGMENT -CONTINUED
Drivers for growth
•Strong focus on trans-national ‘super-circuits’ validated by recent wins
•Significant interest in cloud version of Vista and increasing opportunities for
managed service arrangements
•Continued product innovation into new areas such as F&B, data warehouse,
Omnichannel, CXM
•Competitive wins –globally
•Expansion from beach-heads in new markets –Brazil, Italy, Japan, France
•Continued demand in Latin America, Eastern Europe, and Africa
•Additional revenue streams from ecosystem –hardware, payment processors etc.
•Veeziexperiencing growing interest from customers transitioning from ‘vanilla’
POS solutions.
18

MOVIO SEGMENT
122%
GrowthinMovio
Media revenue
89%
growth in total revenue
per active moviegoers
in North America
to 86 cents
46%
growth in Global total
revenue per active
moviegoers to 51 cents
22%
growth in connection
messages sent
to 2.2bn
2018 PERFORMANCE METRICS
Global leader in data-driven marketing to provide products and services to cinema
exhibitors, film studios and their media agencies and other specialists in film advertising.
Purpose: to connect moviegoers with their ideal movie
•The MovioCinema business grew 17%, increasing its global footprint to 53 countries. Achievements included the
successful deployment of two of the leading Brazilian exhibitors; and the launch of innovative pricing, with 22
customers agreeing to accept a compounding annual increase in return for access to Movio'sfuture innovation.
•The MovioMedia business grew revenue 122%. This was driven by growth in research revenue, with the addition
of Disney, Direct email campaign revenue and the successful launch of a digital campaign solution.
•Moviosuccessfully navigated the changes in data legislation (GDPR) in the EU, ensuring continued uninterrupted
service across the region.
•Total connections (email, SMS, mobile push and digital) increased 22%, with more that 2B personalised
communications made in 2018.
•Rule of 40 for SaaS: Movio'sRevenue Growth of 46% + EBITDA Margin of 27% = a combined score of 73.
$6.2M$22.8M
EBITDA
GROWTH +74%
REVENUE
GROWTH +47%
19

MOVIO SEGMENT
Growth Strategy
Increase Volume -Active Moviegoers:
•Moviobrand refresh focused on demonstrable uplift exhibitors experience using Movio, with a view to engaging
with the C-level of the remaining top 15 global exhibitors not currently licensing Movio’ssoftware and services.
•Deploy non-member solution allowing exhibitors to build moviegoer profiles based on online ticket purchases of
non loyalty members.
Increase Revenue Per Active Moviegoer
•Successful adoption of ‘Innovation Pricing’, providing all MovioCinemas latest innovation for a compounding
annual increase circa 7% including CPI. Currently 22 exhibitors have agreed.
•Productisationof the MovioMedia Digital Campaign platform, enabling rapid deployment of digital marketing
campaigns coupled with the ability to scale sales.
Active Moviegoers
(Millions)
Revenue /ActiveMoviegoer
(NZ cents)
Region
2017201820172018
USA
24204586
Rest of World21252322
Global45453551
20

Financial Performance
Movio Media20172018Percent
Total Revenue (NZ$)$4.37 m$9.67 m+ 121%
Research$2.7 m$4.7 m+ 74%
Direct Campaigns$892 k$2.3 m+ 156%
Digital Campaigns$766 k$2.7 m+ 249%
Movio Cinema20172018Growth
Total Revenue (NZ$)$10.6 m$12.4 m+17%

Active Moviegoers
Active Moviegoers (millions)
Closing
2017
Closing
2018
Growth
USA2420-15%
Rest of World212516%
Global45450%
Increase Volume Active Moviegoers
•Moviobrand refresh focused on demonstrable uplift
exhibitors experience using Movio, with
a view to engaging with the C-level of the remaining
top 15 global exhibitors not currently licensing Movio’s
software and services.
•Deploy non-member solution allowing exhibitors to
build moviegoer profiles based on online
ticket purchases of non loyalty members

Connected Moviegoers US Only
4.7m 2017 vs 8.3m 2018 = Annual growth of 75%
Drivers for growth:
•Signing of Data Sharing Agreements with existing clients
•New sales –remaining top 10 exhibitors
•Deployment of the Movio Cinema Non-Member Solution

MovioMarket Footprint
Movio Cinema Global Coverage
Movio Market Share (20+
Screens) 26%

Direct Campaign Highlights

Digital Campaign Highlights

Serviceable Obtainable Market (SOM) for Movio
Media Digital
201920212023
Averagemarketing spend per release in North America ¹$28.5m$29.7m$30.8m
Wide release films estimate –12 permonth144144144
Portion of film marketing budgets spenton digital marketing, increasing 15%
annually ¹,
14.0%18.5%24.5%
Estimate of North Americanfilm industry digital marketing spend$575m$790m$1,087m
Estimate of Globalfilm industry digital marketing spend$2,015m$2,771m$3,812m
Movio Media’s serviceable obtainable market ³$69 -86m$133 -167m$234 –293m
1 NeustarDecember 2018 White Paper: Do Movie Marketing Budgets Need a Digital Reboot? Adjusted for inflation.
2 Management estimate: Rest of World marketing spend scales in line with BO revenue, 251% of NA spend
3 Management estimate: Movio Media’s current SOM is 10 -15% of TAM
Quoted in USD

Movio Media Research
New CustomersExisting Customers

ADDITIONAL GROUP COMPANIES SEGMENT
World leading film marketing products
•Excellent revenue growth (52%) delivered
strong EBITDA
•Created 31% more movie destination sites
(1,750) in 2018
•LA Studio well established –12 people –
PowsterLabs offer to studios generating
good interest
•Promising early signs with products on
Facebook Messenger –very good user
engagement, strong pipeline of prospects.
Provides world leading theatrical distribution
software
•Pleasing improvement 2nd half over
1st half –though full year result still
not acceptable
•Stronger delivery performance enables
focus on new business with 3 new customer
wins in 2nd half
•Joined up customer propositions with
Numerounder development
•6,000+ cinema sites delivering weekly
audited box office results to MACCSBox.
Movie and cinema review and showtime guide
•Unique visitors up 24% to 8.2m across
New Zealand and Australia
•2
nd
half 44% ahead of 1
st
half as impact of
marketing spend and deployment of sales
resource in Sydney felt
•140% increase in advertising revenue in
Australia
•Extending the lead as the largest
independent movie site in Australasia.
$15M
REVENUE
GROWTH +22%
$1.4M
EBITDA
GROWTH +123%
29

EARLY STAGE INVESTMENTSSEGMENT
Social app to share video reaction to movies
and TV shows
•Additional external investment moves
Stardust to Associate company status in
2019
•2
nd
half 2018 focus was to enhance app to
increase user engagement and retention
•1
st
half 2019 will see relaunch and
marketing push
•Positive signs of studio interest in quality
of users on Stardust.
Software to optimisefilm forecasting and
scheduling
•Excellent revenue growth (80%) reduces
EBITDA loss close to break even for full year
•Penetration of Vista customer base at 6% -
big runway ahead
•Key integrations with Vista products in beta –
with Film Manager, and with MovieTeam
•Starting 2019 with pilots in 2 significant Vista
customers in APAC.
A platform to share film digital assets & enable
new cinema ticketing sales channels to access
cinema exhibitors
•MX Film good progress –servicing 8,000+
screens with content –and integrating with
group companies to deliver consistent film
database
•MX Tickets travelling steadily –boosted mid-
year by one-off volume spike –now servicing
10 live ticketing partners worldwide
•MX collecting showtimes from key large and
small customers –millions of showtimes each
month.
$4.5M
REVENUE
GROWTH +285%
$0.4M
EBITDA
+$2.2M
30

ASSOCIATE COMPANIES
Box office tracking and reporting product
•International business (outside USA) progressing well with increased coverage and positive EBITDA
•New country dashboards live in: Argentina, Bolivia, Indonesia, Malaysia, Mexico, Netherlands, Nigeria,
Paraguay, Singapore, and Uruguay
•In 2019 Numerowill launch further dashboards in Europe and Latin America
•USA coverage significantly increased –2,400 sites reporting
•Revenue growth overall strong
•Numerorequires ongoing support from Vista Group –provision made for all advances during 2018.
31

ASSOCIATE COMPANIES
Performance
•Revenue of $NZD20.6m, 19% increase over 2017.
•199 new sites added –41% from existing customers. Total now 958 sites.
•Vista China market share of 20+ screens segment estimated as 17%.
•Top 5 circuit Stellar now rolling out –Vista China will have 3 of the top 5 circuits as customers when rollout is complete.
•Total of 93 Veezisites, 72 added in 2018.
•Impressive local product add-ons built by Vista China team –Wechatmini-programs, 3
rd
party integration products.
China film industry
•China box office revenue in 2018 grew 9% over 2017 –adding RMB5billion of ticket sales. Local productions accounted
for 61% of the box office.
•Government has proposed a funding plan to expand cinema building in tier 3 and 4 cities –in particular in the west of China.
•Continued domination by 3
rd
party ticket sellers –Maoyanand Tao Piaopiaoremain the top 2.
•Cinema building continues apace in China –18% increase in 2018.
Update on structure
•The transaction to acquire 7.9% of Vista China was completed in August –Vista Group and Weyingnow each hold 47.5%,
and staff the remaining 5%.
•As previously announced additional transactions are contemplated which will lead to Vista Group being able to consolidate.
•We will update on the status of these transactions during the first half of 2019.
32

OUTLOOK
•Recurring revenue base coupled with strong pipeline across Vista Group is expected
to support a 6
th
consecutive year of revenue growth in the region of 20% (excluding
consolidation of Vista China)
•Very exciting outlook for Movio–in particular MovioMedia, with strong growth
expected and a significant runway ahead
•Large cross Vista Group agreements completed in 2018 provide a strong basis for
Vista Cinema through 2019 and 2020
•Vista China expected to continue to win new circuit customers, and make increased
Veezisales in 2019
•Improved performance from MACCS and Numeroexpected to underpin better
results from other segments
•2018 was a strong year for the global film industry with box office approaching or
exceeding records in most countries, and continued growth in screens and cinema
sites. The slate for 2019 is well rated by most observers.
33

34
QUESTIONS

IMPORTANT NOTICE
This presentation has been prepared by Vista Group International Limited (“Vista Group”).
Information in this presentation:
•is provided for general information purposes only, does not purport to be complete or comprehensive,and is
notanofferor invitation for subscriptionorpurchaseof, orsolicitationofanofferto buy or subscribe for,financial
productsin Vista Groupor anyofits related companies;
•does not constitutea recommendation orinvestmentor any other typeofadvice, and may not be relied upon in
connection with any purchase or saleoffinancial products in Vista Group or anyofits related companies;
•should be read in conjunction with, and is subject to, Vista Group’s financial statements, market releases and
informationavailableon Vista Group’s website (www.vistagroup.co.nz)and on NZX Limited’s website (www.nzx.com)
under ticker code VGL;
•may include projections or forward looking statements about Vista Groupand its related companiesand the
environmentsin whichtheyoperate. Such forward-looking statements are based onsignificant assumptions and
subjective judgements which are inherently subject torisks, uncertainties and contingencies outsideofVista Group’s
control. Although Vista Group’s management may indicate and believe the assumptions underlying the forward looking
statements are reasonable, any assumptions could prove inaccurate or incorrect and, therefore, there can be no
assurance that the results contemplated in the forward looking statements will be realised.Vista Group’s actual results or
performance may differ materially from any suchforward lookingstatements;and
•may include statements relating tothepast performanceofVista Group and/or its related companies, whichare not,
andshould not be regarded as,a reliable indicatoroffuture performance.
While all reasonable care has been taken in compiling this presentation, Vista Groupand its related companies, and their
respective directors, employees, agents and advisersaccept no responsibility for any errors or omissions.NoneofVista
Group or its related companies, or anyoftheir respective directors, employees, agents or advisers makes any representation
or warranty, express or implied, as to the accuracy or completenessofthe information in this presentation or as to the
existence, substance or materialityofany information omitted from this presentation.
Unless otherwise stated, all information in this presentation isexpressedat the dateofthis presentationand all currency
amounts are in NZ dollars.
35

36
THANK YOU

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VISTA GROUP –INVESTOR ROADSHOW MOVIO DATA
ADDENDUM
4 March2019

Performance
2018 v 2017
Total Revenue Growth47%
Growth in Connections22%
Growth in Active moviegoers0%
Growth in Revenue per Active Moviegoer46%
Growth in MovioMedia revenue122%
Growth in Connected Moviegoers75%
EBITDA Margin27%
Growth in EBITDA74%

MovioMarket Footprint
Movio Cinema Global Coverage
Movio Market Share (20+
Screens) 26%

Direct Campaign Customers

Digital Campaign Customers

Movio Media Research Customers
New CustomersExisting Customers

Ongoing Disclosure Notices – Directors Ongoing Disclosure Notice – Will Palmer

Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.