AMC Other Presentation Deck
Med. to Long-Term Financial Targets: Revised for ASC 842
Total Revenue Growth
Capital Expenditures
amc
Adjusted EBITDA
Margin
A WANDA GROUP COMPANY
Net Leverage
Medium to Long-Term Target
3% - 5%
(2% -3% box office growth +
1% -2% industry outperformance)
16% - 18%
(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
Revisions
None
Non-operational reduction in Adjusted
EBITDA as a result of rent expense
increase from lease reclassification
None
No material changes to leverage ratio under
ASC 842 (reduction in debt commensurate
with Adjusted EBITDA decrease)
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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