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Performance Summary 2018

$ 1.3Billion

Revenue

$ 146.3Million

Adjusted Segment EBITDA1

$ 2.34

INCOME BEFORE OTHER ITEMS PER SHARE1

$ 90.6Million

Cash Flow from operations

1 Click here for a reconciliation of this non-GAAP measure to the nearest GAAP measure.

“Our company is committed to making a discernible difference in all that we do. Our reputation for integrity is our most valuable business asset. Our people respect the rights of and deal fairly with our customers, employees, business partners, and communities in which we live. Our commitment to the company and to be Always Honest drives our success.“

Steve W. Moster

President & Chief Executive Officer
NON-GAAP FINANCIAL MEASURES    
ADJUSTED SEGMENT EBITDA   INCOME BEFORE OTHER ITEMS
Millions 2018   (per diluted share) 2018
Net Income Attributable to Viad $ 49.2   Net Income Attributable to Viad $ 2.40
Net Income Attributable to Non-redeemable Noncontrolling Interest 0.5   (Income) Loss from Discontinued Operations Attributable to Viad (0.07)
Net Loss Attributable to Redeemable Noncontrolling Interest (0.3)   Income from Continuing Operations Attributable to Viad 2.33
Income from Discontinued Operations (1.5)   Restructuring Charges, Pre-tax 0.08
Income Tax Expense 17.1   Acquisition-related and Other Non-recurring Expenses, pre-tax 0.08
Net Interest Expense 9.3   Tax Expense (Benefit) on Above Items (0.03)
Other Expense 1.7   Adjustment Related to Tax Reform (0.15)
Restructuring Charges 1.6   Net loss Attributable to FlyOver Iceland Noncontrolling Interest (0.02)
Corporate Activities & Eliminations 10.9   Unfavorable Tax Matters 0.05
Segment Operating Income $ 88.5   Income Before Other Items $ 2.34
FlyOver Iceland Start-up Costs 0.9      
Acquisition Integration Costs 0.2      
Acquisition Transaction-related Costs 0.1      
Adjusted Segment Operating Income 89.7      
Segment Depreciation 45.6      
Segment Amortization 11.0      
Adjusted Segment EBITDA  $ 146.3      
         
Note - Certain amounts above may not total due to rounding        

Opportunity Summary

Strength

Two solid business units
Strong, proven foundation
  • Leading and defensible market positions
  • Recurring revenue streams
  • Strong growth prospects
  • Solid balance sheet

Vision

Well-defined growth strategies
Clear plans for meaningful growth
  • GES: Differentiating as the preferred global, full-service provider for live events
  • Pursuit: Driving economies of scale and scope and enhancing a unique portfolio of integrated tourism assets

Performance

Balanced capital allocation
Focus on shareholder return
  • Business development remains the priority
  • Opportunistically repurchase shares
  • Pay quarterly dividend: $0.10 / share

1In any calendar year.

Strategic Goals

Ges

  • Transform into full-service live event company
    • ~50% of revenue from non-Exhibition segments (41% in 2018)
    • ≥$250M in revenue from AV and Event Technologies ($136M in 2018)
  • Grow revenue mid-single digits (same-show)
  • Increase EBITDA1 margin to ~8% w/o show rotation benefit (5.9% in 2018)

PURSUIT

  • Scale to $250M in revenue ($185M in 2018)
  • Leverage umbrella brand and professional team to maximize revenue across Pursuit’s collection of unique experiences
  • Leverage professional team and systems
  • Maintain strong EBITDA1 margin (37% in 2018)

1.Refers to Adjusted Segment EBITDA and a Non-GAAP to GAAP reconciliation is published 10K