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Nordic Cinema Group Jan Bernhardsson, CEO Ratos Capital Markets Day, March 2014 Largest cinema operator in the Nordics and Baltics • The largest cinema operator in the Nordic and Baltic countries. • SEK 2 551 million in revenues (2013) • SEK 466 million in EBITDA (2013) • 27.1 m admissions (2013)* • 80 cities, 103 multiplexes, 590 screens, 81,626 seats* • 1,560 employees in full-time equivalents (2013) • Four brands – SF Bio, SF Kino, Finnkino and Forum Cinemas. • Formed in May 2013 with the merger of SF Bio and Finnkino. • Jointly owned by Ratos (58%), Bonnier (40%) and management and board (2%). * Including partly-owned cinemas 4 Box office accounts for 65 percent of revenues Revenues by market 2013 (%) Revenues by segment 2013 (%) Lithuania Latvia Other/events Estonia 4% 3% Distribution 9% 3% 1% Norway Advertising 6% 7% Concessions Finland 18% 24% Sweden Box office 60% 65% Box office Concessions Advertising Sweden Finland Norway Estonia Latvia Lithuania Distribution Other/events 5 The cinema is an affordable out-of-home entertainment activity Free TV Pay TV Cinemas VOD DVD/ Piracy Blu-Ray Film consumption Books/ Theatre/ Reading Opera Concerts Sports Books/ Restaurants Friends events Reading Museum Family Amusement Bars Other leisure parks/Zoo Home entertainment Out-of-home entertainment 6 Creating world-class cinema experiences Creating world-class cinema experiences 1 • Pleasant atmosphere and lounge areas Creating places to meet • Locations in populous areas close to shopping streets and restaurants 2 • Two VIP cinemas in operation and four under Developing new cinema concepts construction • 100% price premium on VIP tickets 3 • 100% digital cinemas Investing in the latest sound and • 98% 3D-enabled multiplexes screening technology • 30% higher average ticket price for 3D screenings 4 • Examples where implemented zone structures have Optimizing customer flows boosted concession sales by double-digit percentages 8 Zone concept optimizes customer flow and increase concession spending 1 2 Zone 1: Check-in Zone 2: Concession sales 4 3 Theatre Zone 3: Lounge area 9 Market The Nordic Cinema Group Sweden Norway Finland Estonia, Latvia, Lithuania • 69% market share • 8% market share • 70% market share • 51%, 45% and 76% market share (+16% partly owned) (+16% partly owned) (+2% partly owned) • 22 cities • 6 cities • 10 cities • 9 cities • 36 multiplexes • 6 multiplexes • 14 multiplexes • 10 multiplexes • 244 screens • 34 screens • 96 screens • 70 screens • 32,226 seats • 3,823 seats • 15,096 seats • 13,570 seats • 11.4 m admissions (2013) • 0.9 m admissions (2013) • 5.4 m admissions (2013) • 4.8 m admissions (2013) 11 Admission figures do not include partly-owned cinemas Admissions and ticket prices increasing in the Nordics and stable in the Baltics Admissions, 2007-2013 Average ticket price, 2007-2013 50 120 45 100 40 35 80 30 60 25 SEK Million 20 40 15 20 10 5 0 0 2008 2009 2010 2011 2012 2013 2008 2009 2010 2011 2012 2013 Sweden Norway Estonia Sweden Norway Finland Estonia Latvia Lithuania Latvia Lithuania Finland 12 Local content represents around 20-25% of cinema admissions Local content, average market share Top-10 films, average contribution to (Sweden 2006-2013) admissions (Sweden 2006-2013) #1 7% Local film 23% #2-10 27% Rest 66% International film 77% Local film International film #1 #2-10 Rest 13 Blockbusters are growing in importance 2010 2011-2014 Half of all blockbusters grossing more than $1bn were released during the past three years 14 Strong pipeline of upcoming Hollywood blockbusters 2014 2015 2016 2017 • The Hobbit: There and • Bond #24 • Avatar 2 • Avatar 3 Back Again • Star Wars: Episode VII • Pirates of Caribbean 5 • Despicable Me 3 • Hunger Games: Mockingjay part 1 • Hunger Games: • Ice Age 5 • Giants Mockingjay del 2 • Frozen • Finding Dory • Blue Sky animation • The Minions • Interstellar • Ferdinand 3D 15 The cinema market is ’recession-proof’ Admissions per capita, 1990-2011, Sweden GDP per capita growth, current prices, 1990-2011, Sweden 4 15% Recession Recession 3 10% 2 5% 1 0% 0 -5% 1990 1993 1996 1999 2002 2005 2008 2011 16 Strategy and Objectives Three strategic focus areas 1 2 3 Developing the Leveraging our Pursuing expansion cinema experience combined strengths opportunities 18 Driving integration through sharing best practices and realizing synergies Examples • Double-digit growth in gross profit on Sharing best practice in the group concessions since May 2013 Centralized procurement of e.g. • Upcoming procurement of equipment concessions and equipment for 5 new multiplexes in the group Combining advertising sales capabilities • Identifying new sales opportunities by across the region sharing client lists • Centralized IT investments and Realize cost synergies by sharing functions development of new sales channels and ticketing solutions 19 Pursuing expansion opportunities • Intention to grow in both new and existing markets. • Sweden and Finland are mature markets, but we see significant growth opportunities in the Baltic region and Norway. • Focus on prime locations in major and mid-sized cities with population growth. 20 .
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