Pvr Inox Limited · NSE:PVRINOX
Pvr Inox — PVR — Investor Presentation (June 2016)
25 slides from Pvr Inox's investor presentation, June 2016
Slide 1: Investor Presentation June 2016
INVESTOR PRESENTATION June 2016
Slide 2: Disclaimer
DISCLAIMER Safe Harbor: - Some information in this report may contain forward-looking statements. We have based these forward looking statements on our current beliefs, expectations and intentions as to facts, actions and events that will or may occur in the future. Such statements generally are ide
Slide 3: Company Overview
COMPANY OVERVIEW 74 1 India’s largest cinema chain 1 Million 553 Screens Guests Leadership position in India with approx. 30% share of Hollywood Box Office and approx. 22% share of Bollywood Box Office 121 47 Theatres Cities 5.0 mn sq.ft of operational retail space, another 3 mn sq.ft under de
Slide 4: Largest Multiplex Chain in India
LARGEST MULTIPLEX CHAIN IN INDIA HARYANA 8 Properties| 29 Screens ELI 47 Souane 17 STATES 47 CITIES 121 CINEMAS 553 SCREENS 1 Propeny 3 serene 1,26,612 SEATS UTTAR PRADESH ASSAM 10 Properies|52 Screens 1 Property | 2 screens CHANDIGARH 3 Properties|16 Screens, PUNJAI 7 Properties | 39 screens. RAJAS
Slide 5: India – A High Growth Box Office Market
INDIA – A HIGH GROWTH BOX OFFICE MARKET Movie going is the number 1 entertainment option for people in India Largest number of movies released in the world (1,000 movie releases and over 1.9 billion movie goers annually) 1 Domestic box office collections contribute almost 3/4th of the film ind
Slide 6: India – A High Growth Box Office Market
INDIA – A HIGH GROWTH BOX OFFICE MARKET 227 208 190 Industry is projected to grow @ 10% CAGR in next 5 years 174 159 138 2015 2016(E) 2017(E) 2018 (E) 2019(E) 2020(E) Source: KPMG FICCI Report 2016 6th Largest movie market in the world Source: MPAA Theatrical Market Statistics Report 2014 6
Slide 7: India – A High Growth Box Office Market
INDIA – A HIGH GROWTH BOX OFFICE MARKET 7 Under screened market with huge potential for growth Source: KPMG FICCI Report 2015 Modern day Multiplexes are growing & single screens are shutting down Source: KPMG FICCI Report 2015 7
Slide 8: Update - Acquisition of DT Cinemas
UPDATE - ACQUISITION OF DT CINEMAS Acquired DT Cinemas on 31st May, 2016 for Rs 433 crores on a slump sale basis DT Cinemas (“DT”) is part of the DLF Utilities, a DLF Group Company DT operates 32 screens (29 Operational screens & 3 upcoming screens) across 8 locations in Delhi NCR and Chandiga
Slide 9: Our Key Strengths
OUR KEY STRENGTHS Diversified Product Offerings Strong Location Premium & Product guest Strategy experience Comfort & PVR Cutting Edge Convenience Technology Leader in Ad Best in class revenues concessions 9
Slide 10: Diversified Product Offerings
DIVERSIFIED PRODUCT OFFERINGS 7 Star movie experience along with fine dining 4 Screens One of a Kind movie experience Luxurious comfortable Reclining seats Gourmet menu with live kitchen 28 Screens Intended for an audience who desire a great, exclusive experience Premium seating 106 Scre
Slide 11: Strong Location and Product Strategy
STRONG LOCATION AND PRODUCT STRATEGY “A+ Site” real estate locations providing competitive advantage Anchor tenant in more than 50% of top 20 Malls in India 5.0 mn sq.ft. of existing real estate with another 3 mn signed for future rollout Opened 52 screens in FY15-16, acquired 32 screens of
Slide 12: Cutting Edge Technology
CUT TING EDGE TECHNOLOGY DIGITAL SCREENS 100% Digital Screens using 2K DCI compliant projectors IMAX Largest partnership with IMAX in India Currently 4 screens operational Enhanced Cinema Experience - ECX 7.1 Dolby surround sound,4k digital system with 3D Provide patrons with an enhanced a
Slide 13: Best in Class Concessions
BEST IN CLASS CONCESSIONS Enhanced F&B offerings F&B Spend per patron (INR) Highest F&B spend per patron 72 64 53 46 40 FY11-12 FY12-13 FY13-14 FY14-15 FY15-16 13
Slide 14: Best in Class Concessions
BEST IN CLASS CONCESSIONS Huge potential for growth PVR International Chains F&B Spend Per Head as a % of F&B Spend Per Head as a % Average Ticket Price 38% of Average Ticket Price 36% 59% 51% 47% 32% 31% 34% 27% 29% 28% 25% CJ CGV Major Cineworld Regal AMC Cineplex Cineplex Korea Thailand UK USA
Slide 15: Leader in Advertisement Revenues
LEADER IN ADVERTISEMENT REVENUES Premium brand recognition leading to pricing premium Advertisement Revenue (INR mn) Partnership with multiple brands across sectors 2,145 1,771 Advertisement revenues 2X of the nearest competitor 1,517 859 654 531 FY10-11 FY11-12 FY12-13 FY13-14 FY14-15 FY15-16
Slide 16: Comfort and Convenience – Rising Online Penetration
COMFORT AND CONVENIENCE – RISING ONLINE PENETRATION 89 50% Online ticket booking is extremely convenient, saves time and make 84 40% 34% cinemas more accessible to consumers 79 26% 30% 74 19% PVR’s own mobile app allows consumers to select movie, cinema, 69 20% 70 64 time slot, seat and also pre
Slide 17: Premium Guest Experience
PREMIUM GUEST EXPERIENCE 15 SCREENS | 3 GOLD CLASS | 4DX | IMAX | PLAYHOUSE | PREMIUM LOUNGES 17
Slide 18: FY15-16 Performance Snapshot - Consolidated
FY15-16 PERFORMANCE SNAPSHOT - CONSOLIDATED Revenue Mix 12 Months Particulars (INR mn) F&B Sponsorship FY 2015-16 FY 2014-15 Growth 25% Revenues Income 18,736 14,813 26% 11% Other Expenses 15,389 12,763 21% Businesses Operating Profit 3,347 2,050 63% 7% Other Operating Profit Margin 17.9% 13.8% 4.0%
Slide 19: Box Office and F&B Performance FY2015-16
BOX OFFICE PERFORMANCE –FY 2015 -16 - EXHIBITION Net Box Office (Rs mn) Admits (mn) & Occupancy (%) Average Ticket Price1 (Rs) 34.6% 192 34.6% 31.2% 188 10,143 23% 696 7% 596 11% 31.5% 18% 592 5% 8,245 539 180 178 FY15-16 FY14-15 FY15-16 FY14-15 FY15-16 FY14-15 FY15-16 FY14-15 FY15-16 FY14-15 Compar
Slide 20: Revenue & Expenditure Analysis FY15-16 - Exhibition
REVENUE & EXPENDITURE ANALYSIS –FY15 -1 6 - EXHIBITION 12 Months (Rs mn) Fixed Overheads (% of Total Income) 783 2,065 10.3% 478 9.5% 4,667 1,687 17.2% 19.7% 3,482 3.9% 4.1% 11.3% 13.8% 10,143 8,245 7.9% 5.7% FY15-16 FY14-15 FY15-16 FY14-15 Other Expenses CAM & Electricity Repair & Maintenance Rent
Slide 21: ROCE Analysis as on 31st Mar 2016
ROCE ANALYSIS - AS ON 31 ST MAR, 2016 1. Properties > 2 years - Stabilized 2. Properties < 2 years – Yet to Stabilize 3. Properties under construction After Allocation of Corporate Net Capital Property Level Particulars (Rs Lacs) Revenue Overheads Employed EBIT ROCE EBIT ROCE Properties > 2 years (A
Slide 22: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET Particulars (Rs mn) March 31, 2016 March 31, 2015 Gross Debt / EBITDA Total Shareholder funds 8,695 4,092 (Consolidated) Share Capital 467 415 3.6 Reserves & Surplus 8,228 3,677 1.8 Minority Interest & Others 401 383 As on 31st Mar'16 As on 31st Mar'15 Total Debt1 6,623 7,
Slide 23: Superior Financial Performance vs Competition
SUPERIOR FINANC IAL PERFORMANCE VS COMPETITION Revenues (Rs mn) EBIDTA (Rs mn) 18,971 64% 63% 3,582 84% 14,860 60% 11,632 2,097 1,942 9,036 1,310 FY14-15 FY15-16 FY14-15 FY15-16 PVR INOX PVR INOX EBIDTA per screen (Rs mn) Revenue per screen (Rs mn) 22% 39% 32% 6.5 34.2 28.3 28.2 25% 4.7 21.5 3.9 3.1
Slide 24: Superior Operating Performance vs Competition
SUPERIOR OPERATING PERFORMANCE VS COMPETITION Admits (mn) & Occupancy (%) ATP 1(Rs) 31% 35% 29% 25% 188 70 11% 59 178 9% 53 41 170 164 FY14-15 FY15-16 FY14-15 FY15-16 PVR INOX PVR INOX SPH (Rs) Sonsorship Revenues (Rs mn) 16% 25% 72 2,145 136% 64 1,771 117% 55 58 815 910 FY14-15 FY15-16 FY14-15 FY15
Slide 25: Thank You!
THANK YOU !