Enjoy S.a. · BCS:ENJOY

Enjoy — IPO Roadshow (June 2009)

89 slides from Enjoy's IPO roadshow presentation, Jun 17, 2009

  1. Slide 1: Initial Public Offering

    Initial Public Offering June 2009 Antofagasta Coquimbo Vifia del Mar Santa Cruz Pucon Puerto Varas Mendoza

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  5. Slide 5: Revenue CAGR 2002-2007

    The gaming industry . (SB) Strong Growth Casinos y juegos

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  12. Slide 12: Enjoy Casino & Resort

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  13. Slide 13: Antofagasta

    PSS Antofagasta

  14. Slide 14: Enjoy Antofagasta

    enjoy’ Casino & Resort enjoy” 2 8 < = = 3

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  16. Slide 16: Enjoy Antofagasta

    * _ enjoy’ | anroracasta 6 + enjoy VIR DELMAR Ganno& Fesert TPP risen 4 SANTIAGO enjoy’ Casino & Resort

  17. Slide 17: Viña del Mar

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  18. Slide 18: Enjoy Colchagua

    enjoy’ Casino & Resort | enjoy” | gimorscesre oP Pie | . COLCHAGUA: BE + o> enjoy via DELMAR fsino & fesert

  19. Slide 19: ny ad s Miadadiaababane

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  20. Slide 20: Enjoy Casino & Resort

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  21. Slide 21: <=

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  22. Slide 22: Enjoy Coquimbo

    x a 4 enjoy’ Casino & Resort 2 8 < = = 3 COCUIMBO = = VIR DELMAR é me Ganno& Fesert

  23. Slide 23: Puerto Varas

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  24. Slide 24: Enjoy Coquimbo

    x a 4 enjoy’ Casino & Resort 2 8 < = = 3 COCUIMBO = = VIR DELMAR é me Ganno& Fesert

  25. Slide 25: >

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  26. Slide 26: Enjoy Santa Cruz

    a@ enjoy’ Casino & Resort enjoy’ SANTA CRUZ 2 8 < = = 3 x VIR DELMAR Ganno& Fesert

  27. Slide 27: ois,

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  28. Slide 28: ENJOY Property Chain

    ENJOY Property Chain 4 enJoy Casino & Resort enjoy | Antoracasra 2 8 < = 5 3 * ro @ aeeete , Deskeislt .4 enjoy via DELMAR fsino & fesert

  29. Slide 29: Current ownership structure

    Current ownership structure | Familia Martinez Segui [ | Almonacid Cumbres Piero Zaccarelli 18,4% 76,6% 5%

  30. Slide 30: Management and board

    Antonio Martinez | Antonio Martinez Dario Calderon Ruiz Segui Gonzalez Presidente Vice Presidente Director Fiscal Percy Ecclefield Gerente Asuntos Corporativos Sofia Moreno Gerente de Gerente de Desarrollo Personas y Tecnologia Susana Garcia Juan Foo. Mufioz en of Casino & Resort Juan José Cueto Cec

  31. Slide 31: > $ "" - " A;$ -$ $ " ""-" "

    > 2 $ "" - " A;$ -$ $ " ""-" " 5 31

  32. Slide 32: Income breakdown by business type

    ! $ ! + , -) ,., . Income breakdown by business type 32

  33. Slide 33: EBITDA breakdown

    ! $ " #$ /0+1$, -) EBITDA breakdown 33

  34. Slide 34: The Enjoy Model: A Differentiation Strategy

    Casino & Resort The Enjoy Model: A Differentiation Strategy

  35. Slide 35: The Business Model

    uss millones” The Business Model (SB) Proven and successful a |enioy' Enjoy Gross Gaming Revenue and mix = 100% pee 75% pee 50% pm 25% Gamingincome = Slot machines (%) —__—_—_

  36. Slide 36: Differentiation

    Differentiation e A unique and powerful brand. From... \\ SS WX , i Runs WY CASINO CASINO COQUIMBO VINA DEL MAR Z~ — Casino & Resort

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    ## 26! 2*3)333 233)333 '*3)333 '33)333 *3)333 37

  38. Slide 38: Income per customer

    ## 26! Income per customer (CLP$ of each period)* (*) First 5,000 customers with a minimum of 2 years in the Enjoy loyalty program 38

  39. Slide 39: The comprehensive gaming and entertainment chain

    Enjoy The comprehensive gaming and entertainment chain 5.013 members of staff Composicion de la dotacion de personal por area Restaurantes Seguridad

  40. Slide 40: Sound foundations

    Sound foundations provide support to our business model Centro de Convencianes Personas Club de FidelizadeS

  41. Slide 41: A @  !  Game • B @# 

    6 A @ ! • ) Food and Beverage Game • )$"#@ $$ ! Convention • B @# Center Convention Center • )@ 41

  42. Slide 42: Investment Plans

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  43. Slide 43: Investments Plans

    Investments Plans ° Objectives: e Select new opportunities based on profit generation criteria e Enhance existing Business Units

  44. Slide 44: # * ./ , #1223 1226 89!298 89!298 1227 :3!7;9 :3!7;9 #1226 9!669 9!669

    # * ./ , 0 #1223 40 5 1226 89!298 89!298 1227 :3!7;9 :3!7;9 #1226 9!669 9!669 1226 1!826 1!826 - 1227 19!:>1 19!:>1 = #1226 4 1223 92!2>1 93!382 1292 < 9!338 93!889 1299 1226 9;!611 9;!611 4 /988!::; /961!312 44

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  46. Slide 46: Strategic Focus for Period 2009 - 2010

    Strategic Focus for Period 2009 - 2010

  47. Slide 47: Maximise profit from the Investment Plan

    Antofagasta Enjoy The comprehensive gaming and entertainment chain Maximise the profit generation expected from the Investment Plan for CLP$180,000 million Coquimbo Vifia del Mar Santa Cruz Puerto Varas Mendoza

  48. Slide 48: Project stages

    D#$ " ? D PROSPECTING STAGE Æ ENJOY CROATIA INVESTMENT STAGE Æ ENJOY CHILOÉ COMMISSIONING STAGE Æ ENJOY PUERTO VARAS* GROWTH STAGE Æ ENJOY ANTOFAGASTA Æ ENJOY COQUIMBO Æ ENJOY MENDOZA Æ CASINO DE COLCHAGUA MATURITY STAGE Æ ENJOY PUCÓN Æ ENJOY VIÑA DEL MAR *: New comprehensive project 48

  49. Slide 49: Months since begin operations

    D#$ " ? D , # 3#99$;78 %5=? 11$219 97$171 99$313 96+ # ;;$>69 4 5 3 6 7 5 3 %@04- 43# 4 # 4 3# 9$623 4# #0 Months since begin operations 49

  50. Slide 50: Months since begin operations

    D "" $ " ? D 9: # 3# 3#99$;7899$721 %5=? 11$:77 93$9;3 %5=? >1+ 11$219 93$818 97$171 91$867 99$313 96+ 6;$>;7 # # ;;$>69 44 5 5 3 3 6 6 7 7 5 5 3 3 %@04- %@04- 43# 43# 4 # 4 # 4 3# 4 3# 9$623 4# 4# Months since #0 begin operations #0 50

  51. Slide 51: 51

    51

  52. Slide 52: Coquimbo revenues

    )< C# 6 0 Coquimbo # Revenues %@04- and * Ebitda margin (12months) 91 , 38 # + /9 :;< : /0+1$ 3# 8 + ; =# 38 + / < 5# 8 # 38 # # 52

  53. Slide 53: Win Slots Machines

    )4@6 " • A # 9 Win Slots Machines & • E 86 • 9 8 83 • 0# 8= 85 • 9 8 • 9 8 8 • 9 / 7 > .?6 .?> .?7 ?6 ?6 ?> ?> @?6 ?6 <?6 @?> ?> <?> ?7 ?7 • 9 • # & $ 5 >8 68 8 • 9 38 =8 • F 58 8 8 • FG G / 53

  54. Slide 54: Win Table Games

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  55. Slide 55: Revenues Food and Beverage

    # Revenues Food and Beverage • A # 9 =3 = • H 53 5 • /# 3 • < JK 3 • B # 3 / • 9 ?6 <?6 ?> <?> ?7 @?6 ?6 @?> ?> ?6 .?6 ?> .?> ?7 .?7 • ! • # Revenues Conventions and< # Banquets • 9 = • • @ > • # #@: / = • B # .?6 .?> .?7 ?6 ?6 ?7 @?6 ?6 <?6 ?> ?> <?> ?7 @?> ?> 55

  56. Slide 56: Revenues Hotel

    • A # 9 Revenues Hotel • H 5 3 • B • 3 • #< / • 0# 3 @ ?> ?> , ?> .?> ?> @?> ?> ?> <?> ?> ?7 ,?7 ?7 , ?7 .?7 • 9 • # : ) #) C# # 8 78 >8 • 9 68 8 • @ 38 =8 • <0 58 8 • # 8 / ?> , ?> @ ?> ?> ?> <?> ?7 , ?7 @?> .?> ?> ?> ?7 ,?7 .?7 56

  57. Slide 57: Number of Customers - Coquimbo

    Number of Customers - Coquimbo » 180.000 160.000 140.000 120.000 100.000 80.000 60.000 40.000

  58. Slide 58: Revenues Enjoy Coquimbo

    Revenues Enjoy Coquimbo 14.000 12.000 llones § 10.000 M 8.000 2007 2008 2009e m Mesas de Juego = Tragamonedas m Alimentos y bebidas = Hotel

  59. Slide 59:    E )<   Table Game Slots

    E )< Table Game Slots Food and Beverage 59

  60. Slide 60: Enjoy Revenue Growth

    Enjoy Revenue Growth a@ enjoy’ Casino & Resort Gaming Income (in millions of $) 100.000 90.000 + 80.000 4 70.000 + 60.000 4 50.000 4 40.000 4 30.000 + 20.000 + 10.000 4 0 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Steady business innovation Market development capabili

  61. Slide 61: Business background details

    x Business background details > All markets need a development period to reach their potential: 4 enJoY* Casino & Resort Gaming revenue (in USS million) Enjoy Coquimbo we “a Enjoy Vifia del Mar Enjoy Pucon ‘ Y oF Enjoy Puerto Varas

  62. Slide 62: Gaming, Food and Hotel Positions

    ! Gaming Positions = >8 8 =8 8 Food and Beverage Positions # @ 46 @ 47 38 8 38 8 38 @ 46 @ 47 Hotel Positions B 58 8 8 @ 46 @ 47 62

  63. Slide 63: Consolidated Assets, Daily Capacity

    ! Consolidated Assets 38 8 / 38 8 38 $46 : 47 Daily Capacity to Attend Customers C 538 58 38 8 38 8 38 @ 46 @ 47 63

  64. Slide 64: Enjoy advantages

    Business background details Enjoy advantages Experience markets’ investment maturity returns + Proven business model } Speed up Higher

  65. Slide 65: Investments already implemented

    Business background details Investments already implemented Business units in operation Operations generating EBITDA Growth capability already in place

  66. Slide 66: Antofagasta Coquimbo Viña del Mar

    ! Antofagasta Coquimbo Viña del Mar Santa Cruz Pucón Puerto Varas Mendoza 66

  67. Slide 67: ƒ E+ < F 4! " G!

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  68. Slide 68: ! A) @" C : ƒ . ) = >=3 < I! 3> ƒ

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  69. Slide 69: Financial background

    Financial background Enjoy’s Consolidated Balance Sheet $ million at March 2009 6 5 8 8 5 8 86 ƒ 86I A Current assets >=3 55 7= K %; I! 3> 3 38>=> ƒ I! ) 4 B 6 = 5 633 ƒ + < 1 > 6=6 76 < ,C 3: , ƒ ) , 5 67 %; Long term liabilities 5> > Minority interest > 3 ƒ / @.J,K /J . =>7 ƒ / @. K Liabilities an

  70. Slide 70: Financial background

    Financial background Enjoy’s Consolidated Balance Sheet C : 7 6 Assets 5 8 8 5 8 86 Current assets >=3 55 7= Fixed assets 3> 3 3 >=> Other assets 6 = 5 633 1 > 6=6 76 , ƒ $, Current liabilities 5 67 =856> Long term liabilities 5> > 7 533 Minority interest > 3 7 377 /J . =>7 7 55 Liabilities and Equi

  71. Slide 71: Financial background

    Financial background Enjoy’s Consolidated Balance Sheet C : 7 > Assets 5 8 8 5 8 86 5 8 8> ƒ % Current assets >=3 55 7= 5 = A %; Fixed assets 3> 3 3 >=> 5>8633 ƒ 1/ @. @ Other assets 6 = 5 633 3 857 J, 1 > 6=6 76 >6 , Current liabilities 5 67 = 56> ƒ % A K Long term liabilities 5> > 7 533 Minority i

  72. Slide 72: Financial background

    Financial background Enjoy’s Consolidated Balance Sheet C : 7 > Assets 5 8 8 5 8 86 5 8 8> Current assets >=3 55 7= 5 = Fixed assets 3> 3 3 >=> 5> 633 Disbursement of credit lines Other assets 6 = 5 633 3 57 1 > 6=6 76 >6 , ƒ Financing of Enjoy Antofagasta still on short Current liabilities 5 67 = 5

  73. Slide 73: Financial background

    Financial background Enjoy’s Consolidated Balance Sheet $ million at March 2009 : G7 Assets 5 8 8 5 8 86 5 8 8> 5 8587 Current assets >=3 55 7= 5 = 6 > ƒ % K Fixed assets 3> 3 3 >=> 5> 633 =58> Other assets 6 = 5 633 3 57 3 > 1 > 6=6 76 >6 537 , Current liabilities 5 67 = 56> 53 5 6 => Long term lia

  74. Slide 74: Financial background

    Financial background Enjoy’s Consolidated Balance Sheet $ million at March 2009 %LBIBL: Assets 5 8 8 5 8 86 5 8 8> 5 8587 >=3 55 7= 5 = 6 > Fixed assets 3> 3 3 >=> 5> 633 =5 > Other assets 6 = 5 633 3 57 3 > 1 > 6=6 76 >6 537 , Current liabilities 5 67 = 56> 53 5 8=> Long term liabilities 5> > 7 533

  75. Slide 75: Financial background

    Financial background Enjoy’s Consolidated Income Statement C : 7 5 4 4 B =7 = B 4= =3= M/! 4 5> /0+1 = = /0+1 78# /, 85 /, = 6# ƒ A normal year with 4 active operations ƒ + /, /, 75

  76. Slide 76: Financial background

    Financial background Enjoy’s Consolidated Income Statement $ million at March 2009 5 4 4 5 4 46 Net Revenues Operational income =7 = =7 557 Operational Operational costs costs 4= =3= 4= >5 SG&A Admin.Expenses and sales’ overheads 4 5> 4 = 3 EBIT Operational result = = =>3 EBIT margin margin Operatio

  77. Slide 77: Financial background

    Financial background Enjoy’s Consolidated Income Statement $ million at March 2009 31 12 06 31 12 07 31 12 08 Net Revenues 49,242 49,339 64,499 O Operational ti l costs t 24 454 24,454 24 803 24,803 48 721 48.721 SG&A Expenses 10,386 14,050 12,661 EBIT 14,400 , 10,485 , 3,118 , EBIT margin 29.2% 21.

  78. Slide 78: Financial background

    Financial background Enjoy’s Consolidated Income Statement $ million at March 2009 %LBIBL: 5 4 4 5 4 46 5 4 4> Net Revenues Operational revenues =7 = =7 557 = =77 Operational Operational costs costs 4= =3= 4= >5 4= 8 7 SG&A Admin.Expenses and sales’ overheads 4 5> 4 = 3 4 EBIT Operational result = =

  79. Slide 79: Financial background

    Financial background Enjoy’s Consolidated Profit and Loss Statement $ million at March 2009 %LBIBL: 5 4 4 5 4 46 5 4 4> 5 4547 Net Revenues Operational income =7 = =7 557 = =77 58536 Operational costs 4= =3= 4= >5 4= 7 4 76= SG&A Admin.Expenses and sales’ overheads 4 5> 4 = 3 4 4 67 EBIT Operational

  80. Slide 80: Financial background

    Financial background Enjoy’s Consolidated Income Statement $ million at March 2009 5 4 4 5 4 46 EBIT = = =>3 H =8=7 =8> + /! 4 765 4 > : . >7 B == 5 77 + ! 4 65= 45 =5 : . 46 66 4 >76 H + > 56 = 6 ƒ < 4 ") ! . & 80

  81. Slide 81: Financial background

    Financial background Enjoy’s Consolidated Income Statement $ million at March 2009 5 4 4 5 4 46 5 4 4> EBIT = = =>3 5 > Non operational result Non operational result = =7 = > 45867 + /! 4 765 4 > 4 8>7 : . >7 > 76 B == 5 77 4 5 + ! 4 65= 45 =5 4 3 : . 46 66 4 >76 4 5=7 H + > 56 = 6 4=86> ƒ + . , ) ,

  82. Slide 82: Financial background

    Financial background Enjoy’s Consolidated Income Statement $ million at March 2009 %LBIBL: 5 4 4 5 4 46 5 4 4> = = =>3 8=6 EBIT H = =7 = > 45867 + /! 4 765 4 > 4 8>7 : . >7 > 76 B == 5 77 4 5 + ! 4 65= 45 =5 4 55 : . 46 66 4 >76 4 7>= H > 56 = 6 835 ƒ Proforma 2008 leaves out non-recurring Start-Up

  83. Slide 83: Financial background

    Financial background A) @ $ million at March 2009 %LBIBL: 5 4 4 5 4 46 5 4 4> 5 4547 Operational income = = =>3 =6 = = H = =7 = > 45 67 4 >57 + /! 4 765 4 > 4 >7 4= > : . >7 > 76 45 > B == 5 77 4 5 35 + ! 4 65= 45 =5 4 55 6 : .+ 46 66 4 >76 4 7>= 4 % > 56 = 6 35 4 5 ƒ + ! , ", &8L ) < , : ) 8 ƒ : .

  84. Slide 84: Financial background

    Financial background ! ƒ J 7 + ! ) ,. Ö < , ) , - . Ö , . C ) 58=87 G Ö , , Ö +%B), , ƒ % @ . .) ) /, 84

  85. Slide 85: A/82 A/:8 A/19 A/;2D

    ! @!@ $$ $ .4 .4 .4 %&# %&# 'B A/82 A/:8 A/19 A/;2D 2007 2008 2008 2008 85

  86. Slide 86: ! @ Â - @ / @.D Â L , - < ) @

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  87. Slide 87: Investment Considerations

    Investment Considerations

  88. Slide 88: # • : , • # • B @/0 • < G • 2"*"

    # • : , • # • B @/0 • < G • 2"*" 4 • # $$ • • "$ "" L# ) # M 88

  89. Slide 89: Warning

    Warning: This information presentation was produced by the Stock Exchange brokers Larraín Vial S.A. Corredora de Bolsa in conjunction with Enjoy S.A. with a view to providing general information about the latter company. The data source has been public and internal Company data. Its specific purpose

Enjoy — IPO Roadshow (June 2009) on 6ix