Distribution and Expansion Fuel Cinema City Q3 Profits

21-11-2013

Distribution and Expansion Fuel Cinema City Q3 Profits

By Cathy Meils

WARSAW: Central European multiplex operator Cinema City recorded an 8.3% increase in revenues at 212.3m EUR for the first three quarters of 2013 compared with 2012, despite a 3% drop in same cinema admissions.

Third quarter results were less impressive, with total ticket sales down by 3.6% at 9.4 million and same cinema admissions down by 8%. Poland and the Czech Republic both showed lower results, while Slovakia held stable and Romania, Bulgaria and Hungary posted increases in admissions.

Film distribution revenues grew 2.4% to 15.2m EUR for the first nine months of 2013.

The company continues its aggressive expansion policy, with plans to open 70-80 screens, located mainly in Poland and Romania.

Moshe (Mooky) Greidinger, CEO of Cinema City International, said in a statement: “We continued expanding our business with new, successful multiplexes opened in Sofia and Cluj and remain fully committed to our target to expand on one hand and to grow the cinema going habit on the second hand."

Published in Poland