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Performance Summary 2019

$ 1.4Billion

Revenue

$ 152.7Million

Adjusted Segment EBITDA1

$ 2.48

INCOME BEFORE OTHER ITEMS PER SHARE1

$ 108.1Million

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 2019   (per diluted share) 2019
Net Income Attributable to Viad $22.0   Net Income Attributable to Viad $1.02
Net Income Attributable to Non-redeemable Noncontrolling Interest 2.3   Loss from Discontinued Operations Attributable to Viad -
Net Loss Attributable to Redeemable Noncontrolling Interest (0.8)   Income from Continuing Operations Attributable to Viad $1.02
Loss from Discontinued Operations 0.1   Restructuring Charges, Pre-tax 0.41
Income Tax Expense 2.5   Impairment Charges, Pre-tax 0.26
Net Interest Expense 13.8   Legal Settlement, Pre-tax 0.42
Other Expense 1.6   Pension Plan Withdrawal, Pre-tax 0.77
Legal Settlement 8.5   Acquisition-related and Other Non-recurring Expenses, Pre-tax 0.28
Pension Plan Withdrawal 15.7   Tax Benefit on Above Items (0.50)
Impairment Charges 5.3   Favorable Tax Matters (0.21)
Restructuring Charges 8.4   Adjustment to the Redemption Value of Redeemable Noncontrolling Interest 0.06
Corporate Activities & Eliminations 10.8   Net Loss Attributable to FlyOver Iceland Noncontrolling Interest (0.03)
Segment Operating Income $90.2   Income Before Other Items  $2.48
Attraction Start-up Costs (A) 2.3      
Acquisition Integration Costs 1.0      
Acquisition Transaction-related Costs 0.4      
Adjusted Segment Operating Income $94.0      
Segment Depreciation 45.4      
Segment Amortization 13.4      
Adjusted Segment EBITDA  $152.7      
         
Note - Certain amounts above may not total due to rounding        
(A) Includes costs related to the development of Pursuit's new FlyOver attractions in Iceland, Las Vegas, and Toronto.        

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 (44% in 2019)
    • ≥$250M in revenue from AV and Event Technologies ($142M in 2019)
  • Grow revenue mid-single digits (same-show)
  • Increase EBITDA1 margin to ~8% w/o show rotation benefit (6.2% in 2019)

PURSUIT

  • Scale to $250M in revenue ($223M in 2019)
  • 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 (36% in 2019)

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