Vista Group upgrades revenue guidance on box office growth

[Auckland, NZ, 29 August 2022]: Vista Group International (NZX & ASX: VGL) reported its interim results for the period ending 30 June 2022 today, with upgraded revenue guidance for the full year to 31 December 2022.

Guidance Update
Vista Group upgrades its revenue guidance for the full year ended 31 December 2022 to $123-128m. Vista Group had previously projected revenue of $118-123m.

Industry Highlights
• Global cinema industry is showing strong recovery post-pandemic
• Box office growth and momentum sustained across all major markets
• SaaS platform strategy increases Vista Group’s relevance as the industry rebounds.

Financial Highlights
• Total revenue of $62.4m, an improvement of 39% on the first half of 2021, and recurring revenue up 43%
• EBITDA(1) of $3.1m and positive operating cashflow of $5.1m
• Accelerated investment across the SaaS platform, with monthly cash burn of only $0.1m over the last 12 months
• Loss for the period of $18.0m, including $13.8m of non-cash impairment charges (predominantly related to Vista China), equity accounted losses, and acquisition costs.

Operational Highlights
• First major enterprise cinema circuit signed to Vista Cloud with over 300 sites
• Strong customer interest in the SaaS platform
• Maintained 51% market share of the estimated global enterprise market (20+ screens), excluding China.

Please refer to the following attachments for full details of the results:
• 2022 VGL Interim Report
• 2022 Half Year Result Investor Presentation
• 2022 Half Year Result Media Announcement
• 2022 Half Year NZX Results Announcement

Matt Cawte
Chief Financial Officer
Vista Group International Limited
Contact: +64 9 984 4570

(1) EBITDA is a non-GAAP measure and is defined as earnings before net finance costs, income tax, depreciation, amortisation, “other gains and losses” (see section 4.4 of the interim report) and share of equity accounted results from associates and joint ventures.

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Announcement PDF