Monday 1st March 2021 |
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Vista Group International announces its 2020 Full Year result today, reporting good progress on innovation, deeper customer relationships and a strong position for the recovery of cinemas globally.
Highlights
• Well managed second half results, good levels of cash, locked in cost savings and good protection of recurring revenue, ready for industry recovery
• Second half cash burn within forecast range
• Customer relationships remain at the centre of Group strategy, underscoring critical nature of Vista’s solutions for the film industry, limited permanent customer closures/insolvencies
• Vista Cloud transformation accelerates
Key Financial Metrics
• Positive operating cashflow of $3m, down 81% on 2019
• $3.7m per month average second half cash burn, within forecast range $3-4m per month
• Revenue of $88m (61% of 2019) with recurring revenue of $66m (74% of 2019)
• EBITDA loss of $11m, including non-cash expected credit loss and credit risk provisions of $13m
• Loss after tax $57m, includes $70m net non-cash items
• Year end cash balances of $67m, plus $39m undrawn debt facilities
Key Operational Metrics
• Maintains 51% market share of the 20+ screens segment excluding China
• First customers for Vista Digital and Madex, Odeon UK/Ireland roll out complete (120 sites)
• Vista Cloud represents 60% of Vista Cinema development funding
• Continue to add new customers: Vista Cinema, Movio Cinema, mica
Please see the links below for details:
2020 Full Year Result Investor Presentation
2020 Full Year Result Media Announcement
2020 Full Year NZX Results Announcement
2020 ASX Compliance Confirmation
Source: Vista Group International Limited
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