2Q18 Results August 9, 2018

Transcription

1 Results August 9, 2018

2 The consolidated financial statements of T4F Entretenimento S.A. presented here are consistent with the criteria of international accounting standards - IFRS issued by the International Accounting Standards Board IASB, based on audited financial information. Non-financial information contained herein, as well as other operational information, were not audited by independent auditors and may include forward-looking statements and reflects management's current views and perspectives on the evolution of macro-economic environment, conditions of the live entertainment industry, company performance and financial results. Any statements, projections, expectations, estimates and plans contained in this document that do not describe historical facts, and the factors or trends affecting financial condition, liquidity or results of operations, are forward-looking statements and involve several risks and uncertainties. No investment decision should be based on validity, accuracy or completeness of the information or opinions contained in this presentation. Under no circumstances, neither the Company nor its subsidiaries, directors, officers, agents or employees be liable to third parties (including investors) for any investment decision based on information and statements in this presentation, or for any damages resulting therefrom, corresponding or specific. This presentation and its contents are proprietary information of Company and may not be reproduced or circulated, partially or completely, without the prior written consent of the Company. This presentation is current to date and T4F has no obligation to update it or revise it in light of new information and / or in face of future events, safeguard the current regulations that we have submitted. 2

3 Operating Performance Event Pipeline Financial Performance 3

4 x # Events -74% Live Music Family & Theater # Events x % # Tickets sold (000) % Live Music Family & Theater # Tickets sold (000) % Live Music: In, we promoted only live music events with 58 shows and 230 thousand tickets sold. In addition to the lower activity level of indoor shows in our venues in June, due to the World Cup, the 6 outdoor shows of Ozzy Osbourne s tour were concentrated in arenas, of which only 1 took place in a stadium. Family and Theater: Due to the logistics of tour sets of the original Broadway musical The Phantom of the Opera, which started on August, we did not promote family and theater events in, while in we held the musical Les Misérables and the Magical Ice Festival. Live Music Family & Theater Live Music Family & Theater 4

5 OUTDOOR LIVE MUSIC INDOOR LIVE MUSIC FAMILY & THEATER SPORTS 5

6 x x R$ million R$ million % % Events promotion Ticketing, F&B and venues Sponsorship Events promotion Ticketing, F&B and venues Sponsorship Events promotion: net revenue decreased 60% compared to, amounting to R$41.7 million. This result in is a consequence of the absence of family and theater content, in addition to the promotion of a lower number of indoor shows and of more concerts in arenas than in stadiums in the outdoor segment. Therefore, we registered a reduction in the number of tickets sold and in theaverage ticket price, from R$195 to R$174. Ticketing, F&B and venues: net revenue of R$17.8 million, a decrease of 67% from, due mainly to the fact that we did not open sales for outdoor concerts in 2H18 and due to the lower activity in event promotion. In, we highlight the start of sales for theconcerts of Paul McCartney s tour. Sponsorship: net revenue of R$12.2 million in, in line with, despite thereduction in the activity of event promotion and ticketing operation, reflecting a slight improvement in this segment year-on-year. 6

7 Gross Profit EBITDA and EBITDA Margin R$ million R$ million -28% -68% -44% % % % 10.1% 6.5% Gross profit reached R$11.1 million in versus R$35.0 million in. EBITDA in amounted to R$1.2 million versus R$18.9 million in. The gross profit reflects the decrease in activity this quarter in event promotion and ticketing operation, partially offset bythe performance of sponsorship in line year-on-year. 7

8 Financial Result R$ million R$ million Net Income Financial Income Financial Expenses Exchange rate variation 5.5 Net Financial Result mn mn % 5.2% 4.2% 3.2% In, net financial result was positive in R$6.6 million versus negative R$1.9 million in, as a result of a financial income R$1.1 million higher than financial expenses (due to the low indebtedness), in addition to a positive exchange variation of R$5.5 million in the hedge operations of Brazil and Argentina. Net income in totaled R$3.7 million. 8

9 Cash Flow Net Cash (Debt) R$ million R$ million Operating Investment Financing Exchange Var Debt Cash Net Cash (Debt) 1Q18 We consumed R$58.1 million in operating cash, since we paid artists fees and production costs related to the concerts promoted during 1Q18 and we did not start ticket sales in for future significant shows. We spent R$567 thousand in maintenance capex and we invested R$503 thousand in financial investments. In financing activities, we spent R$21.1 million in dividend payment and R$1.1 million with the acquisition of own shares, partially offset by R$3.4 million received from related parties. Total indebtedness of R$17.1 million, down 51% from and in line with 1Q18. Net cash of R$154.6 million (-32% vs. 1Q18 and +15% vs. ). 9

10 IR Contacts