CIE Second Quarter Corporación Interamericana de Entretenimiento, S.A. de C.V.

Transcription

1 0 CIE Second Quarter 2006 Corporación Interamericana de Entretenimiento, S.A. de C.V.

2 1 Agenda 1. Company Overview 2. Financial Performance 3. Appendix

3 2 Section 1 Company Overview

4 3 LEISURE INDUSTRY LEISURE INDUSTRY ENTERTAINMENT Culinary Arts Travel Reading Hobbies Sports ENTERTAINMENT IN HOME ENTERTAINMENT OUT OF HOME Open Television Cable Television Satellite Television Video/ DVD Internet Videogames Music/radio Gaming (internet) Compete for the time and Spending money of consumers Movies Videogames (Recórcholis, Moy, etc.) Theme Parks Live entertainment: - Sports - Theater, concerts/ cultural - Popular/ folkloric events - Popular dance events Gaming Family Entertainment Centers: Dave & Busters, Recórcholis, Div. Moy, etc.

5 4 BUSINESS MODEL Business Model that adapts to various forms of out-of-home entertainment Events: h h h h Music Sporting Folkloric & Popular Family h Corporate / Special h h Cultural Theater Mechanical Games Betting / Gaming Animals (Zoo) Horse Racing Stadiums Arenas Trade & Exhibition Centers Amusement Parks Zoos Race Tracks Amphitheatres Theaters Auditoriums Sponsors Ticket Sales Food & Beverage Souvenirs

6 ORGANIZATIONAL STRUCTURE KEY OPERATING DIVISIONS CIE Entertainment CIE Las Américas (1) CIE Commercial CIE Amusement Parks (2) CIE International JV with Event promotion Operation of venues Artist agency Food, beverages and souvenirs Sports Books and Yaks (number based games) Horse racetrack Centro Banamex Granja Las Américas (Petting Zoo) Sponsorships Pedestrians overpasses Billboards (Mexico & Panama) Rotational & Static advertising Naming rights JV with Six parks in Mexico Two parks in Bogota Wannado project in the U.S. ) Argentina Zoo & radio Event promotion Chile: event promotion Brazil: event promotion Ticketing Cineminutos Special and corporate events Tele-services (Mexico, Colombia & Panama) 6M 2006 REVENUES 6M 2006 EBITDA 19% Commercial 33% Entertainment 21% Commercial 19% Entertainment 12% International 11% International 6% Parks 31% Las Américas 5 5% Parks 44% Las Américas

7 6 Section 2 Financial Performance

8 7 CIE CONSOLIDATED (Millions of pesos as of June, 2006) +3% REVENUES +18% 4,917 4,161 +2% EBITDA +11% 1, ,273 2, Q05 2Q06 2Q05 2Q06 EBITDA Margin 22.0% 21.8% 21.9% 20.6% OPERATING CASH FLOW* REVENUES 2Q06 EBITDA 2Q06 (3%) +5% % Commercial 25% Entertainment 21% Commercial 18% Entertainment % International 13% International 2Q05 Capex Ps.172 2Q06 Ps.194 Ps.277 Ps.344 7% Parks 33% Las Américas 6% Parks 42% Las Américas * Note : Represents EBITDA - Capex

9 8 CIE CONSOLIDATED DEBT PROFILE AS OF JUNE 30, ,447 2, Bank Debt Ps. Bank Debt US UDIs CEBUR S.T. CEBUR L.T. 10 year Bond Denomination Ratios: 52% Pesos 8% UDIS 39% USD Interest Coverage, net 2.66 x Net Debt / Stockholders Equity 0.88 x Net Debt / EBITDA 2.88 x WACC 11.95% WACD 9.99% Debt with coverage 25.86% Swap/Coupon 15.91% Swap/Principal 9.95% Fixed Rate 42% Floating Rate 58%

10 CIE ENTERTAINMENT (Millions of pesos as of June, 2006) 616 (5%) 586 REVENUES +50% 1,068 1, % EBITDA +125% Q05 2Q06 EBITDA Margin 2Q05 2Q06 6.5% 15.6% 8.0% 12.0% OPERATING CASH FLOW* REVENUES 2Q06 EBITDA 2Q % % Entertainment 25% Entertainment 18% 27 2Q05 2Q06 Capex Ps.12 Ps.32 Ps.25 Ps.71 * Note : Represents EBITDA - Capex 9

11 10 CIE INTERNATIONAL (Millions of pesos as of June, 2006) REVENUES +25% % % EBITDA +10% Q05 2Q06 2Q05 2Q06 EBITDA Margin 19.1% 18.2% 18.9% 18.3% OPERATING CASH FLOW* +13% % REVENUES 2Q06 International 15% EBITDA 2Q06 International 13% 2T05 2T06 Capex Ps.4 Ps.5 Ps.11 Ps.9 * Note : Represents EBITDA - Capex

12 11 CIE COMMERCIAL (Millions of pesos as of June, 2006) 633 (25%) 475 REVENUES 1,210 (24%) (45%) 107 EBITDA 396 (45%) 217 2Q05 2Q06 2Q05 2Q06 EBITDA Margin 30.9% 22.4% 32.7% 23.6% OPERATING CASH FLOW* 382 REVENUES 2Q06 EBITDA 2Q (47%) (47%) 203 Commercial 20% Commercial 21% 97 2Q05 2Q06 Capex Ps.11 Ps.10 Ps.14 Ps.13 * Note : Represents EBITDA - Capex

13 12 CIE AMUSEMENT PARKS (Millions of pesos as of June, 2006) REVENUES (2%) (11%) % EBITDA +120% Q05 2Q06 2Q05 2Q06 EBITDA Margin 8.4% 19.7% 6.6% 16.3% OPERATING CASH FLOW* 18 (398%) (550%) 32 REVENUES 2Q06 Parks 7% EBITDA 2Q06 Parks 6% 2Q05 2Q Capex Ps.20 Ps.12 Ps.28 Ps.13 * Note : Represents EBITDA - Capex

14 CIE LAS AMÉRICAS (Millions of pesos as of June, 2006) REVENUES +46% 1,511 EBITDA +45% % , % Q05 2Q06 2Q05 2Q06 EBITDA Margin 34.2% 28.2% 29.9% 29.7% OPERATING CASH FLOW* REVENUES 2Q06 EBITDA 2Q % % Las Américas 33% Las Américas 42% 2Q05 2Q06 Capex Ps.124 Ps.134 Ps.199 Ps.237 * Note : Represents EBITDA - Capex 13

15 14 CIE LAS AMÉRICAS At the end of 2006 the company will have installed 45 units: Opened Units Opened per year Projected In 2006 there are: 30Yaks 39 Sport Books (3 stand alone) 4 units with Book and Electronic Yak

16 15 CIE LAS AMÉRICAS MARKET LICENSE STATUS May 2005 Total = 150 licenses Currently Total = 342 licenses (1) Televisa % Rivapalacio % Caliente % C1E % C1E % Mio - 3 2% Otros 14 9% (Rivapal., Club21, Alegre, etc.) Caliente % Promojuegos (Femalamex)-10 3% Juega y Juega-18 5% MIO-13 4% Entretenimiento de México % Eventos Festivos de México-20 6% Source: Local Press: La Crónica, Jornada, Universal y Reforma. Ministry of Interior (SEGOB) Sports Books & Yaks Marketshare

17 16 Section 3 Appendix

18 17 CIE SHAREHOLDER STRUCTURE SHAREHOLDER STRUCTURE 359 mm, one series of shares with equal voting rights. Management Group 24% Market Cap Ps.6,357 mm Ticker: CIE (Bolsa Mexicana de Valores) Bloomberg: CIEB MM Free Float 76%

19 18 cie.com..com.mxmx