VGL - Vista Group.

[Sideshow Bob]

https://www.nzx.com/announcements/417028

Vista Group International Limited (NZX & ASX:VGL) reported its interim results for the period ending 30 June 2023 (1H23) today, as the recently announced business transformation accelerates strategy progress.

Industry overview
• Strong box office performance over the northern hemisphere summer, with ‘Barbenheimer’ opening weekend delivering the best domestic box office since April 2019
• Q2 global box office produces the best quarterly result since 2019
• Number of domestic movies released in 2023 trending towards pre-pandemic levels with box office out-performing the return of the number of movies.

Operational overview
• Leading UK cinema group Everyman signed to Vista Group’s cloud platform, including Movio Cinema EQ, Vista Digital and Vista Cloud
• Vista Cloud transition accelerates client benefits, with Vista Oneview app live with pilot client, ahead of September 2023 launch
• Business transformation is underway to support Vista Group’s vision and strategy, drive greater client alignment, increase role clarity for our people, and deliver improved financial performance.

Financial overview
• Total revenue of $69.7m (up 12% on 1H22) and Recurring Revenue1 of $60.5m (up 13% on 1H22)
• Combined Cinema and Movio Recurring Revenue1 of $49.8m, up 10% on 1H22
• Substantial growth in the AGC segment2 with total revenue up 29%
• EBITDA3 of $2.5m (down 19% on 1H22) and positive operating cashflow of $6.2m (up 22% on 1H22)
• Loss for the period of $8.5m (down from a loss of $18.0m for 1H22)
• Average monthly Cash Usage4 of $1.2m in 1H23 now expected to become free cashflow positive during Q4 2024 – a year earlier than previous guidance.

Outlook
• Vista Group reaffirms guidance for 2023 total revenue to be in the range of $142m – $147m
• Through the organisational transformation and the reprofiled capital expenditure program, Vista Group expects to be free cashflow positive during the fourth quarter of 2024
• Vista Group remains on target to achieve its 2023 ASM aspirations of ARR5 between $175m – $205m and EBITDA3 of 15+% by the end of 2025.

[winner69]

Hey Bob …you didn’t post the headline

Vista Group transforms as Barbenheimer ignites box office

Amazing / spectacular update ….the value is in the story not the profits

[X-men]

Another year of bloody loss....arghh....when this company is going to make money!!!

[winner69]

Another year of bloody loss....arghh....when this company is going to make money!!!

Main thing is they going great guns X-men

Bloody heck …wow … expected to become free cashflow positive during Q4 2024 – a year earlier than previous guidance.

[sb9]

Solid update and numbers. Should get past $2 soon.

[X-men]

SP will get hammered.... companies that announced profit when result out ....the sp also got hammered...not to mentioned companies that announced loss

[DavidB]

Well if nothing else 'Barbenheimer' has clearly shown that the cinema business isn't dead yet! Far far from it. What it does show is that Hollywood needs to make better movies than a whole bunch of tired and boring comic book movies or Disney remaking Snow White with no dwarves, no handsome Prince to come to the rescue, and a Snow White whose skin is not as white as snow! That is not Snow White! What are Disney and Hollywood thinking? Once the Hollywood writer's strike is over and Hollywood purges itself of writers, directors, studio execs, and producers who are making bad movies I think the future for both cinema and Vista is very bright. It will take a year or two, but I have faith it will happen. Why? because I understand the American imperative for making a lot of money. And Hollywood, when done right, makes an awful lot of money.
Disclosure: owner of Vista shares.

[Dlownz]

SP will get hammered.... companies that announced profit when result out ....the sp also got hammered...not to mentioned companies that announced loss

I would have to say the complete opposite to your comments today. The thing with results these days is regular updates from company's basically leaves no surprises. They've already said they will be cash positive and in profit next year 1 year a head of schedule. We alreasy know the writers strike will have a knock on effect for up to 2 years. Great result but not unexpected 😁

[X-men]

So..let's punch some no.

H1...almost $70m revenue....loss $8m

Forecast FY $142-147m.... assuming they are achieving it Full year revenue will be around $72-75m.

I do think full year will be still in loss especially with all restructuring.... redundancy payout...one off cost

Future is bright...maybe another year...

Like master winner said....not this year...maybe next

[bull....]

maybe the yr after that one , people getting over big block buster super hero flicks as they have gone to woke and strayed from there core