Wilhelmina International, Inc. · OTC:WHLM
Wilhelmina International — Investor Presentation (March 2014)
25 slides from Wilhelmina International's investor presentation, Mar 7, 2014
Slide 1: Wilhelmina International
WILHELMINA /nternational— OTCBB:WHLM
Slide 2: Forward Looking Statements
—— FORWARD LOOKING STATEMENTS ——— In addition to historical information, this presentation includes certain “forward-looking” statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended (the “exchange Act
Slide 3: Investment Opportunity Summary
INVESTMENT OPPORTUNITY SUMMARY * Consistently profitable * Positive cash flow * No long-term debt * Accomplished management team * Base business growth, particularly in women's "image" category * Ancillary base business opportunities * Hair & Make-up * Stylists * Photographers * International expans
Slide 4: Company Highlights
——— COMPANY HIGHLIGHTS ——— ‘+ Founded in 1967 by Wilhelmina Cooper + 47 year history of success * Strong relationships with over 2,000 clients * 1,500 active models * 92 employees * Full service agency WILHELMINA inert —— ‘oneans
Slide 5: Wilhelmina: The Models
WILHELMINA: THE MODELS ——— 1960’s— + In 1967, Wilhelmina Cooper revolutionized the world of fashion when she founded Wilhelmina Models. Wilhelmina was an international supermodel and scout- immediately discovering rising stars such as Iman. VORUE Withemina Anjelica man 1970's— Huston + Wilhelmina Mo
Slide 6: Wilhelmina: The Models
——— WILHELMINA: THE MODELS 1980's + Wilhelmina Models grew into a top full service agency representing women, men and children i d Whitney Katherine Sela Ward Houston Heigel 1990's- + Wilhelmina Models reinforces their premium status in the industry with top male models joining their talent roster,
Slide 7: Wilhelmina: The Models
——— WILHELMINA: THE MODELS 2000's- + Wilhelmina Models remains at the forefront of the modeling industry expanding with superstars in modeling, film, music and entertainment ieee 1 = 7 m Linda Jessica Zoe Saldana Evangelista __Lundavist Simpson 2010's - present * Wilhelmina Models is one of the most
Slide 8: Financial Highlights
FINANCIAL HIGHLIGHTS AS OF DECEMBER 31%, 2013 * 117.4 million common shares PO] QO Cash $2.6 million; Debt $.8m KALE LAUREN + Gross Billings $68.3m * EBITDA (before Corp. OH) $4.8m * NOLs (84-85 million) TOM FORD * Only U.S, publicly-traded fashion model agency xmacys De.G DOLCEs GABBANA
Slide 9: Competitors
—— COMPETITORS —— There is no public information on the gross billings of these agencies (except for Elite Europe). Management Full Service Women & Men Women Large DNA ELITE Medium WILHELMINA NEXT MARILYN MAJOR WOMEN SELECT ONE MANAGEMENT Small NY MODELS. STORM SOCIETY THE LIONS WILHELMINA 9 nen
Slide 10: Full Service Agency
FULL SERVICE AGENCY + Core Business-fashion model management + Other Women- Image <§° Diveuta)~Golmnibielal WaRnelt © LW1, Inc. = represents actors and actresses in Men- Image © Runway TV & Film (Screen Actors Guild business) 4 Direct Women + Fitness & Marketing and events (model contests) + Direct
Slide 11: Strategy
STRATEGY + Develop Wilhelmina into @ global brand + Expand the high end fashion boards, + Rebuild men’s board/business. + Continue to hire high quality agents. + License the “Wilhelmina” beauty related products, produ artner on television shows, movie and book opportunities associated with the brand
Slide 12: Wilhelmina Gross Billings vs US Advertising Industry Growth
WILHELMINA GORE BILLINGS US ADVERTISING INDUSTRY GROWTH 50% \Winelmina nas eutpertamed ‘Ad Index in recent favorable ‘eeenomie periods ‘Year over year Quarterly Growth af \ fA ) AN
Slide 13: Current Top Models by Image
——— CURRENT TOP MODELS BY IMAGE ——— del: Top Female M L to R) Roehi mith, Sung Hi Joo, Alexandra Richard: Top Male Models: (L to R) Marlon Teixeira, Ton Heunkels, Baptiste, Armando Cabral, Alex Lundqvist
Slide 14: Current Top Models by Earnings
CURRENT TOP MODELS BY EARNINGS ———
Slide 15: 2013/2014 Highlights
—— 2013/2014 HIGHLIGHTS ——— 8 14 a fa Female Models: (L Lauren , Danielle Guess, Elizabeth Erm: Gucci, Cindy Bruna: Pra Male Models: (L to _ Clark Bookleman: Calvin Klein, Marlon T: Karl Lagerfeld, RJ Mitte: The Gap, Marion T & RJ King: Tommy Hilfig
Slide 16: Gross Billings by Business Line
——— GROSS BILLINGS BY BUSINESS LINE ——— 2013 =Men = Women © Other *other denotes Model . . Contesis/TV/Licensing/Artsts Management WILHELMINA 16 orem
Slide 17: Example for Standard $10,000 Model Booking
—— EXAMPLE FOR STANDARD $10,000 MODEL BOOKING —— GROSS BILLINGS TO CUSTOMER
Slide 18: Gross Billings by Year
—— GROSS BILLINGS BY YEAR —— Millions 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 WILHELMINA ereainal-
Slide 19: Operating Leverage
—— OPERATING LEVERAGE —— 28 a mn i | a i | 10 2010 2010 2011 2011 2011 2011 2012 2012 2012 212 2013 2013 2013 2013 2 08 1 2 1 G2 G8 Gt at a2 as mSalaries & Service Cost Office & General Expense = Corporate Ovethead WILHELM inert OTR
Slide 20: Quarterly Gross Billings
— QUARTERLY GROSS BILLINGS Millions @ ry $ Q112 Q212 03 12 412 Q113 WILHELMINA leant —— Q213
Slide 21: Financial Summary
FINANCIAL SUMMARY Gross Billings Core WAM Total Gross Billings WAM % of total Selected Income Stmt Data Revenues Core Revenues from Other Total Revenues Model costs Revenues net of model costs rating expenses cencinisaees eliescitcenada ane mort & Depr ee overhead Total operating expenses ‘Operating
Slide 22: Balance Sheet
— BALANCE SHEET —— WILHELMINA Shit ONG NHN
Slide 23: Roth Presentation Disclosures
ROTH PRESENTATION DISCLOSURES ash 7204 ante Comey oe rt eat thatthe information bs et fe papain, celaog oc pastas fermion may fad to emt als and ck ences may be ateal Non GAAP financial s jon cosine louis aboot Adjusted EBITDA stich the ‘Soancial pet ‘panting incom 25 an indicator ofthe Companys ope
Slide 24: Investment Opportunity Summary
INVESTMENT OPPORTUNITY SUMMARY Consistently profitable Positive cash flow No long-term debt Accomplished management team Base business growth, particularly in women's "image" category Ancillary base business opportunities + Hair & Make-up + Stylists + Photographers International expansion Brand deve
Slide 25: Wilhelmina
WILHELMINA OTCBB: WHLM ‘express prior written authorization.
Wilhelmina International — Investor Presentation (March 2014) on 6ix