18-03-2012

Palace Cinemas Drives Cinema City Growth

By FNE Staff

International exhibitor Cinema City posted 14% increase in revenues in 2011, for a total of 267.5 million euros.

{mosimage}

Net profits fell 31.2% for the year, to 20.9 million euros.

Cinema City (www.cinemacity.nl) added 22 multiplexes and 192 screens with the acquisition of the Palace Cinema chain in Central Europe. Overall admissions grew 16.2% to 35.5 million in 2011, but fell by 8.5% on a per screen basis for the year in total. However, in quarter 4, per screen admissions rose by 1.4% to 7.5 million

The company launched distribution entities under the Forum Film brand in Slovakia in 2011, and added the Czech Republic in 2012.

To date, 90% of screens have been digitalized, with plans to have all screens digitalized by the end of 2012.

Cinema City also announced plans to build 5-7 multiplexes with 70-90 screens located in Bulgaria, Romania, Czech Republic and Israel in 2012. The company is developing and committed to 33 new multiplexes with a total of some 350 screens.

Cinema City operates 95 multiplexes with 901 screens in 7 countries: Poland Czech Republic, Hungary, Slovakia, Romania, Bulgaria, and Israel.