Announcement
FLLYR: VGL: VGL - FY2018 Results Announcement
08:30am
VGL
26/02/2019 08:30
FLLYR
PRICE SENSITIVE
REL: 0830 HRS Vista Group International Limited
FLLYR: VGL: VGL - FY2018 Results Announcement
Market Announcement
26 February 2019, Vista Group International Limited, Auckland, New Zealand.
_____________________________________________________________________________
__________________________________
Vista Group Produces Another Highlights Package
Annual result reflects 23% revenue growth - the 5th consecutive year above
20% - increases EBITDA and improves operating cash position
[Auckland, NZ, 26 February 2019]: Vista Group International (NZX & ASX: VGL),
announces its 2018 result today,
reporting impressive growth and profitability stats across its businesses.
Matching the performance record the global business and investor market has
come to expect from this leading New Zealand tech sector company. Continuing
with its integration strategy across the film industry, Vista Group has shown
significant success in its drive toward achieving majority world market share
across its movie industry sectors.
Vista Entertainment Solutions ('Vista Cinema'), Vista's founding and largest
business, continued the journey with 1,013 new cinema sites (including 199 in
China) installed in 2018. The cumulative total of Vista Cinema sites is now
7,202 (958 in China). This achievement took Vista Cinema's share of the
world's large circuit market to 40% and equates to revenue growth of 22%;
excluding China Vista Cinema's global market share has increased to 48%.
Improved operating leverage has also seen an increase in EBITDA of 2%
percentage points to 31%. Strategically the signing of integrated Group
agreements with Cineworld Group and Odeon Cinemas Group provide a platform
for continued growth and deployment of other Group company products.
Movio, Vista Group's business that delivers data-driven marketing and
analytics solutions to the film industry, delivered terrific growth with
revenue up 47% and EBITDA up 74%. The Movio result included 122% growth for
Movio Media - the 2nd year of 100%+ growth - due to the growth in research
revenue and the signing of Disney to the Movio Media platform during 2018.
Additional businesses in the Group also contributed with the speed of their
growth; Powster (providing creative services to the film industry to engage
users with entertainment content), created more than 1,750 online 'movie
destinations' representing growth of 31% on 2017 and resulting in a 52% lift
in revenue and strong EBITDA.
Vista Group's strategy has been to create technology-driven efficiencies in
the film industry to benefit industry participants. In 2018 Vista saw this
strategy beginning to play out through movieXchange: MX Film is a new online
platform developed by Vista that delivers, from the cloud, movie promotional
media directly from film distributor to cinema exhibitors; MX Tickets enables
online listing globally of movie showtimes information and via third party
partners, the sale of movie tickets.
On the product front, the transition to a fully cloud-based Vista Cinema
moved significantly forward with the first customer cinema sites deployed and
running live.
"Vista Group Chief Executive, Kimbal Riley remarked that he, the Board and
all at Vista are delighted with the 2018 result. "Our consistent growth,
including our less mature businesses, and increased income and profitability
can be credited to our 700+ globally-located staff. Their hard work,
engagement with our customers and determination to deliver unprecedented
technology solutions and services is our biggest strength. As a business we
have a shared vision to be the leader in software and data solutions across
the film industry; our 2018 result is evidence that we have a highly
committed and connected team delivering on and progressing toward that
vision."
Vista Group will deliver a final dividend to its shareholders of 2.1
cents/share resulting in a total pay-out at the top end of the policy range
of 3.7 cents/share for 2018 and an increase of 27% on the previous year.
FINANCIAL HIGHLIGHTS
o 23% Revenue growth over FY2017 of $130.7m - the 5th consecutive year of
20%+ revenue growth
o 17% EBITDA(1) growth to $29.2m
o 150% Increase in operating cashflow to $27.4m
o 47% Revenue growth in Movio to $22.8m. 122% Revenue growth in Movio Media
was exceptional
o 27% increase in FY2018 dividend with a final dividend of 2.1 cents per
share representing a total pay-out at the top end of the policy range at 50%
of NPAT
o 26% increase in Earnings per share over the prior year
o 25% increase in Profit Before Tax (NPBT) over the prior year
OPERATIONAL HIGHLIGHTS
o Vista Group global leadership position in the cinema industry sustained
with 40% market share of 20+ screens segment - 48.1% excluding China
o 1013 new Vista Cinema sites (including 199 sites in China) - another very
strong year of site growth to a cumulative 7,202 sites
o 24% growth in Vista Group annuity/recurring revenue to $79.9m -
representing 61% of total revenue.
o 258 new Veezi sites to a cumulative 901 sites
o Very strong result from Movio - Movio Media starring with significant
growth on the back of deals with Disney and Fox
o Key large client agreements signed with super circuits - Aeon, Cineworld,
Marcus, Odeon and Pathe
o Percentage of total revenue from SaaS(2) business across Vista Group
increased from 25% in FY2017 to 32% in 2018
o Outstanding improvement in collection of cash drives record operating cash
flow
Rodney Hyde - Chief Financial Officer
Vista Group International Limited
Contact: +64 9 984 4570
End CA:00331069 For:VGL Type:FLLYR Time:2019-02-26 08:30:54
Click here
to view related attachments.
