1Q17 Results May 11, 2017

Transcription

1 1Q17 Results May 11, 2017

2 Disclaimer 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 Agenda Operating Performance Events Pipeline Financial Performance 3

4 14% Operating Performance Live Music Family & Theater % 1Q16 4Q16 1Q17-2% % +58% # Events # tickets sold (000) # Events # tickets sold (000) Live Music Family & Theater Live Music: Even with virtually the same number of events, we sold 65% less tickets year-on-year as 1Q16 was atypical in terms of outdoor concerts, concentrating 21 of the 35 shows of In terms of outdoor concerts, 1Q17 is similar to the 4Q16, in which we promoted 4 outdoor shows of Black Sabbath s tour and 1 arena festival in Chile. In 1Q17 we promoted 2 days of Lollapalooza Brazil Festival, 1 concert of Justin Bieber s tour in Rio de Janeiro and 1 show of Elton John & James Taylor in Curitiba Family & Theater: While in 1Q16 we presented only the musical Wicked, in 1Q17 we had the premiere of the musical Les Misérables and we promoted the show Fuerza Bruta in Rio de Janeiro, in January and February. 4

5 Events Pipeline LIVE MUSIC OUTDOOR 2 SHOWS 64 SHOWS FAMILY & THEATER LIVE MUSIC INDOOR 4 SHOWS SPORTS 5

6 Net Revenue 1Q16 x 4Q16 x 1Q R$ million Q16 4Q16 1Q17 Events promotion Ticketing, F&B and venues Sponsorship Event promotion: net revenue amounted to R$82.3 million. The comparison with 1Q16 is distorted due to the atypical concentration of 21 outdoor concerts in that quarter versus 4 shows in 1Q17. Ticketing, F&B and venues operations: decrease of 12% in 1Q17 versus 1Q16 due mainly to the lower revenue in food, beverage and merchandising as a consequence of the lower activity level, in addition to the fact that we did not start ticket sales for large events in the future. Sponsorship: net revenue R$22.4 million in 1Q17, down 37% from 1Q16 and growth of 34% from 4Q16, reflecting the different mix and calendar of shows between quarters. 6

7 Gross Profit and EBITDA Gross Profit EBITDA and EBITDA Margin R$ million R$ million 41,0% 36,0% ,0% 26,0% 21,0% 16,0% 11,0% 1Q16 4Q16 1Q17 7.5% 8.8% 8.8% 1Q16 4Q16 1Q17 6,0% 1,0% The lower gross profit is observed mainly in the result of sponsorship in event promotion, due to the promotion of less outdoor concerts. EBITDA in 1Q17 amounted to R$12.2 million with EBITDA margin of 8.8%, an increase of 1.4 percentage point from 1Q16 and in line with 4Q16. 7

8 Financial Result and Net Result Financial Result Net Income R$ million R$ million Financial Income 8.9 Financial Expenses Exchange rate variation Net Financial Result Q Q16 4Q16 1Q17 4Q16 1Q In 1Q17, net financial result was positive in R$1.5 million versus expenditure of R$1.6 million in 1Q16, due mainly to the positive result in exchange rate variation. Net income of R$5.8 million in 1Q17. 8

9 Cash Flow and Net Cash (Debt) Cash Flow R$ million R$ million Operating Investment Financing Exchange Var Net Cash (Debt) Q16 4Q16 1Q17 Debt Cash Net Cash (Debt) 1Q16 4Q16 1Q17 Consumption of R$513 thousand of Operating Cash. Despite the promotion of 4 outdoor concerts and the pre-operative costs of the musical Les Misérables, there was a compensation with the cash received from installment sales in previous quarters for these concerts. Generation of R$10.3 million in Investments due to (i) the withdraw of R$10.9 million of the structured note indexed in US dollars and (ii) the maintenance capex in the amount of R$630 thousand. Expenditure of R$10.8 million in financing activities with the amortization of the second tranche and payment of semiannual interest of the second issue of debentures. Total indebtedness of R$33.5 million (-37% vs 1Q16 and - 23% vs 4Q16). Net cash ofr$92.2 million. 9

10 IR Contacts