AMC Investor Day Presentation Deck
Medium to Long-Term Financial Targets (Reprise)
Total Revenue Growth
Adjusted EBITDA Margin
Capital Expenditures
amc
Net Leverage
Medium to Long-Term Target
3% - 5%
(2% -3% box office growth +
1% -2% industry outperformance)
17% -19%
(Up to ~200 bps of margin expansion)
$250-300M of net capex within 3-5 years
($150M maintenance + $100-150M net growth capex)
3.5x4.5x 3-year target
~3x long-term target
Rationale
Outperformance driven by the AMC Platform
(e.g., Stubs, A-List, premium food &
beverage, high ROI growth capex)
Margin expansion from operating leverage
Reversion to normalized capex level as
highest ROI projects are executed
Cash generation and Adjusted EBITDA
growth enable deleveraging
Due to ramp of A-List program, 2019 is expected to be a transitionary year with
dollar Adjusted EBITDA growth / accretion, but limited margin expansion
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