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Performance Summary 2017

$ 1.3Billion

Revenue

$ 152.6Million

Adjusted Segment EBITDA1

$ 2.62

INCOME BEFORE OTHER ITEMS PER SHARE1

$ 112.2Million

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 2017   (per diluted share) 2017
Net Income Attributable to Viad $ 57.7   Net Income Attributable to Viad $ 2.83
Net Income Attributable to Noncontrolling Interest 0.5   Loss from Discontinued Operations Attributable to Viad 0.01
Net Loss Attributable to Redeemable Noncontrolling Interest (0.1)   Income from Continuing Operations Attributable to Viad 2.84
Loss from Discontinued Operations 0.3   Restructuring Charges, Pre-tax 0.05
Corporate Activities Expense 12.9   Impairment Charges (recoveries), pre-tax (1.43)
Corporate Eliminations (0.1)   Acquisition-related Costs and Other Non-recurring Expenses, Pre-tax 0.06
Restructuring Charges 1.0   Tax expense (Benefit) on Above Items 0.37
Impairment Charges (Recoveries) (29.1)   Charge Related to Tax Reform 0.79
Interest Income (0.3)   Favorable Tax Matters (0.06)
Interest Expense 8.3   Income Before Other Items $ 2.62
Income Tax Expense 45.9      
Segment Operating Income $ 97.1      
FlyOver Iceland Start-up Costs $ 0.1      
Acquisition Integration Costs 0.3      
Acquisition Transaction-related Costs 0.2      
Adjusted Segment Operating Income 97.7      
Segment Depreciation 42.5      
Segment Amortization 12.4      
Adjusted Segment EBITDA  $ 152.6      
         
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
  • Credit facility leverage ratio
    • For acquisitions: ≤3.0X
    • For return of capital >20M1: ≤2.5X

1In any calendar year.

Strategic Goals

Ges

  • Transform into full-service live event company
    • ~50% of revenue from non-Exhibition segments (36% in 2017)
    • ≥$250M in revenue from AV and Event Technologies ($133M in 2017)
  • Grow revenue mid-single digits (same-show)
  • Increase EBITDA1 margin to ~8% w/o show rotation benefit (6% in 2017)

PURSUIT

  • Scale to $250M in revenue ($174M in 2017)
  • 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 2017)

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