H1 FY17 RESULTS PRESENTATION 7 June 2017 H1 FY17 Results Presentation
Str trong ng H H1 P Performanc ance ➤ Del eliver ered ed strong p per erformance i e in H H1 201 017 ➤ -0.2% like-for-like 1 revenue growth in H1 2017 ➤ H1 results are not comparable due to calendar shift of Easter holidays ➤ 8.4% increase in like-for-like revenue YTD as of May 7 th (to factor in Easter holidays and May bank holiday weekend) ➤ Our g Ou growth th s str trategy for th the y year is p paying o off ➤ Achieved record in season passes (+21% growth vs. prior year) ➤ Continued expanding the season through off-season events (+16% revenue growth achieved in Halloween and Christmas events) ➤ Delivered strong results during Easter holidays ➤ Focus used o on d n delivering ng 2 2017 r resul ults and nd m making ng p progress on o n our ur e expans nsion s n strategy ➤ H1 rep epres esen ents c c.17 % % o of t total r reven enues es ➤ Enhanced visibility of earnings and reduced weather risk ➤ H1 result lts r refle lect ct new a accountin ing p policy licy regardin ing s season passes ➤ Accounting criteria has been standardized across the entire group and season pass revenues are gradually recorded throughout the year ( 1 ) Like-for-Like figures represent the performance of the business assuming constant FX rates H1 FY17 Results Presentation 2
Flat at H1 Revenue Per erformance a e and + 8.4% Grow owth YT YTD as as of May y 7th th H1 H1 Rep eported ed Fi Figur ures H1 Li H1 Like-fo for-Li Like Fi Figur ures YTD TD Ma May Li Like-fo for-Li Like Fi Figur ures +9.4% % -2.4% % -2.4% % 5,248 Visitors ( ´ 000) 3,525 4,796 3,525 3,441 3,441 YTD FY16 YTD FY17 H1 FY16 H1 FY17 H1 FY16 H1 FY17 -1.4% % -0, 0,2% +8.4% % Revenue (€ MM) 156.8 144.6 106.0 105.8 107.3 105.8 H1 FY16 H1 FY17 H1 FY16 H1 FY17 YTD FY16 YTD FY17 ➤ YTD TD M May f figu gures t s to EBITDA (€ MM) H1 FY16 H1 FY17 H1 FY16 H1 FY17 incl clude th the impact o ct of Eas aster c cal alendar ar sh shift and d May ba bank h holida day week eeken end -24.4 -25.4 -28.3 -28.3 H1 FY17 Results Presentation 3
Q1 F FY17 F Figures under New ew Account Policy for Seas ason Passes Li Like-fo for-Li Like Fi Figur ures ( (ol old account unting ng polic licy) Like-fo Li for-Li Like Fi Figur ures ( (ne new account unting ng polic licy) ➤ Spa ➤ Spa pain, Ro RoE and U d US: Season passes are pain a and d Ro RoE: : Season passes revenues licy ng Polic allocated based on an estimated average are recorded when the season pass is percap multiplied by the actual number of sold unting visitors ➤ US US: Season passes are allocated based Account ➤ No i o impac act on on a y a year arly bas asis on an estimated average percap multiplied by the actual number of visitors +7.8% % +5.6% % MM) nue (€ MM) 70.5 66.8 65.4 63.2 Revenue Q1 FY16 Q1 FY17 H1 FY16 H1 FY17 Q1 FY16 Q1 FY17 MM) (€ MM Q1 FY16 Q1 FY17 Q1 FY16 Q1 FY17 BITDA ( -1.9 -3.3 EBIT -5.5 -5.4 H1 FY17 Results Presentation 4
Spai ain: Achieved Record Per erformance Perc rcap (€ MM) MM) Visito Vi tors (’000) 000) ➤ Rec ecord p per erformance i e in t the e region re +0.6 .6% (+19 19.5 .5% YTD a as o of M May) y) -3.1% .1% (-0.7 .7% Y YTD a as o of May) y) ➤ -2.5% revenue drop in H1 ➤ +19% revenue increase on a 1,493 1,484 like-for-like basis as of May 7 th 20.6 19.9 to factor in the effect of Easter holidays ➤ Growth d h driven n by attend ndanc nce H1 FY16 H1 FY17 H1 FY16 H1 FY17 ➤ + 23% revenue growth during Rev even enues es (€ MM) MM) EBI BITDA DA ( (€ MM) MM) off season events (Halloween and Christmas) -2.5 .5% (+18 18.7 .7% Y YTD a as o of May) y) ➤ +29% revenue growth in season passes (enhancing 30.5 29.8 repetitive visits) ➤ Strong Easter holiday season 1.7 0.9 ➤ H1 reven enues es r rep epres esen ents c c.21% o of annua nnual r revenue nues in S n Spain n H1 FY16 H1 FY17 H1 FY16 H1 FY17 H1 FY17 Results Presentation 5
RoE: Results are On On Track with th Enhanced Visibility from Seas ason Passes Perc rcap (€ MM) MM) Vi Visito tors (’000) 000) ➤ RoE performan ance i is o on t trac ack -3. 3.4% (+5. (+5.4% Y YTD as of M May) -1% 1% (-1.8 1.8% Y YTD a as o of M May) y) ➤ -4.4% revenue drop in H1 ➤ +3.5% increase on a like-for- like basis as of May 7 th to 1,327 1,282 factor in the effect of Easter 30.0 29.7 holidays ➤ Growth d h driven n by attend ndanc nce H1 FY16 H1 FY17 ➤ + 22.5% revenue growth H1 FY16 H1 FY17 during off season events Rev even enues es (€ MM) MM) EBI BITDA DA ( (€ MM) MM) (Halloween and Christmas) ➤ +16% revenue growth in -4. 4.4% 4% (+3 (+3.5% Y YTD a as o of May) season passes (enhancing 39.8 repetitive visits) 38.0 ➤ Strong Easter holiday season ➤ H1 reven enues es r rep epres esen ents c c.17% of H1 FY16 H1 FY17 annua nnual r revenue nues in n RoE H1 FY16 H1 FY17 -2.0 -5.0 H1 FY17 Results Presentation 6
US: Rea eached ed Record Pre-Sales Figures (+23.5% 5% Grow owth ) Visito Vi tors (’000) 000) Perc rcap (€ MM) MM) ➤ Record rd l levels o of p pre re-sa sales s ach chie ieved in in H H1 -6.7 .7% (-3. 3.4% Y YTD a D as o of May) +8.7 .7% (+5. (+5.4% Y YTD as of M May) ➤ +23.5% growth (+ €2 MM of additional revenue) 714 666 ➤ Provides visibility of revenue in 49.4 45.5 coming quarters ➤ Most relevant KPI in a marginal H1 (only represents c.14% of annual revenues in US) H1 FY16 H1 FY17 H1 FY16 H1 FY17 ➤ Ach Rev even enues es (€ MM) MM) EBI BITDA DA ( (€ MM) MM) chie ieved lik like-fo for-like r e reven enue e growth th o of 1. 1.4% % in H H1 a 1 and 1. 1.8% % YTD +1.4 1.4% (+1.8 1.8% YTD a as of M May) y) as of Ma May y 7 th th 32.9 32.5 H1 FY16 H1 FY17 H1 FY16 H1 FY17 -17.9 -16.5 H1 FY17 Results Presentation 7
HQ: Q: Increase in n Manag anagement nt Fees ees Offs ffset et by Expec ected ed Increase in HQ Q Co Costs Rev even enues es (€ MM) MM) EBI BITDA DA ( (€ MM) MM) ➤ Revenue nue growth d h driven n by managem emen ent s ser ervices es provided ed ➤ Increa ease i e in o oper erating e expen enses es in line wit lin ith e expect ctatio ions 5.1 ➤ Increase in costs associated with 3.3 becoming a publicly traded company H1 FY16 H1 FY17 H1 FY16 H1 FY17 -7.2 -7.7 H1 FY17 Results Presentation 8
P&L &L: +27% 7% N Net Incom ome G Growth Net et Incom ome (€ MM) MM) ➤ Achieved ed a +27% Net et Income e growth ➤ Non-recurring items include: ➤ Impairment test amounting €10 MM H1 FY16 H1 FY17 Var.% regarding 3 parks in US Rep eported ed EBITDA DA (24.4 .4) (28.3 .3) (16 16.4 .4%) ➤ €5 MM provision related to Mountain D&A (29.6) (33.1) (11.8%) Creek Termination Fee ➤ Substantial reduction of interests Non-recurrent items (16.9) (17.9) (5.6%) expenses due to post IPO capital Ope perat ating ng pro rofit (70.9 .9) (79.3) 3) (11.9 11.9%) structure Net financial expenses (45.2) (14.2) 68.5% Income tax 26.3 28.1 6.8% Net t inco come (89.8 .8) (65. (6 5.5) 27.1 .1% H1 FY17 Results Presentation 9
Cash Flow G Generation A Affected by Se Seasonality of the B Business Evol olution on Ne Net t De Debt (€MM) MM) ➤ Net et deb ebt i increa eased ed up to to €551 €551 M MM ➤ + €11 MM 700 7.9 665.3 15.8 27.9 2.9 increase due to 31.1 USD 28.3 11.5 551.4 539.8 appreciation 550 ➤ €114 4 MM o of c cas ash swing ng d due ue t to i int ntra 400 year workin ing ca capit ital l need eeds 250 Net Debt FX Impact Net Debt EBITDA Capex Changes in Taxes Interest Others Net Debt + (Sept 2016) (March Working intra-year 2017) Capital WC needs (March 2017) ➤ Int ntra-year ar wo working cap apital al need eeds: : €114 114 M MM H1 FY17 Results Presentation 10
Company Fully Focused on Delivering 201 017 Results ➤ Achieved ed rec ecord r reven enue e le levels ls ➤ Outstanding performance during off-season events ➤ Reached record levels in season passes To Top L Line ➤ Top lin line in init itia iativ ives in in p pla lace t to d deliv liver o our t targets Init itia iativ ives ➤ Season passes to enhance earnings visibility and reduce weather risk ➤ Pricing policies focuses on maximizing ticketing percaps ➤ Multiple initiatives implemented to increase in park revenues ➤ 2017 7 capex ex prog ogram is on on t track k ➤ Main attractions and IPs already launched ➤ 1 st and only Star Trek themed coaster worldwide launched at Movie Park (Germany) ➤ Strong success achieved from recently launched Virtual Reality coasters Capex ex Pla lan ➤ Batman Escape (Warner Park) – the 1 st Virtual Reality coaster in Spain ➤ Virtual Reality upcharge experience at Sky Rocket coaster in Kennywood (US) ➤ Master Thai coaster at Mirabilandia (Italy) ➤ Virtual Reality experience at TNT coaster in Parque de Atracciones de Madrid (Spain) to come soon ➤ 19 th th Divide dends ds €20 M MM ( (€0.25/share) di divi vide dend pa d payment t to be be pa paid o d on J July 1 H1 FY17 Results Presentation 11
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