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Giantsquid I owe you $2 billion come and take it

1,005,000,000

The fact that they are on a way to increase their venues by 6 between H2 2022 and 2023 is a really good sign

Can we see the number of movies double in 2023?

Why do we have less movies in July 2022 than July 2021? (77 vs. 97)

Hey Betahighalpha. I had a check for the EBIT margin and it is very surprising.
Cineworld
EBIT Margin 2021 0.88% (still positive knowing that we were close for almost half year) and 16.58% as of 2019.
AMC
EBIT Margin 2021 -36.79% (negative this is because they haven’t closed cinemas from Jan to May) 2.49% in 2019
Cineplex
EBIT Margin 2021 -19.79% (negative) and 7.79% in 2019
Cinemark
EBIT Margin 2021 -16.71% and 10.31% in 2019.

Cineworld sp dropped the most but it was the only one with a positive EBIT margin. Mooky was smart to close all the theatres during the half of 2021.

Hey mountainous hope you are well.
I just double checked your numbers on Bloomberg and I agree with that.
Cineworld
Total debt to total capital : 103.88%
EBITDA Adj Margin 27%

Cineplex
Total debt to total capital 113.52%
EBITDA Adj Margin 16.1%

AMC
Total debt to total capital 119.97%
EBITDA Adj Margin 20.4%

Cinemark
Total debt to total capital 92.13%
EBITDA Adj Margin 24.4%

Do you think so Carnival is increasing as well in the same time than Cine

Forecaster do you understand the word Inflation??
20% inflation for the next 3 years and our debt goes from $9bn to $7bn by doing nothing.
Box office of $1bn today represent $850m in 2019 in 5 years most movies will do the billion.
If you want to short go on

Be patient we are at the bottom of the Cash flow waterfall

Mountainous it’s $1bn not $1.2bn.
Capex in 2019 was at $380m manage to reduce at $150m for 2021 and Cine will keep it low for the next few years.
Dividend in 2019 was at $180m.
Negative tax to Cine c. $200m
And a cost reduction at $100m per year.
And with all of these do you think lenders will walk away?

Something I don’t understand with regards the judgement. Even if we lose the appeal and the judge will say that Cine needs to pay $1bn. Cine doesn’t have to pay it with a short deadline it’s not the role of the judge to put a deadline. However, Cine can say that we can pay every year a few millions and pay Plex back within years. Is it right or I am missing something? The fact that if we agree to pay on a yearly basis we don’t need to take debt so no interest to pay.

Insider I am sure they are trying to find an out of court settlement. They are negotiating behind the scene. The payment for Regal shareholders is not as important as cineplex. Plex knows that they won’t receive the full amount they will negotiate l. I don’t see anything else. Because they are not sure about the outcome this is why they have delayed the release of the results and no RNS

Hey Hexam it was negative $ 21m after paying the first part Regal shareholders ? I don’t remember sorry

True - do you think there is a chance to achieve the same amount for July?

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$968,802,787

@Yuri.f Dépréciation and Amortisation are not a cash out expenses. In the income statement D&A are useful to lower the tax liabilities. As a way of update the Government owes Cine circa $160m in terms of negative tax. The amount of the D&A must be added up back to the cash flow statement in the operating activities.
Wages expense : $100m
Financial cost : $800m (it was at $786m for 2021)
Capex : $150m
So we need to have $1,050m of Adjusted EBITDA with a margin of 33.3% Cine needs a revenu of c. $3,160m.
Bloomberg forecast the revenu of Cine for 2022 at $3,700m. So we can easily break even this year. As I said before don’t be worried if you see a negative profit for 2022 they will increase the D&A in order to have a negative taxes again. So the government can pay back Cineplex!

I was reading on Bloomberg some analysis on Cineplex. They put a Buy recommendation with an SP price of $17 down from $19 few months ago. They priced Cineworld award with an amount of $310m which is the probability of winning times (25%) the whole amount which is $1.24bn. So they expect to win with a probability of 25%. They mentioned the huge debt of Cineworld and the fact that if Cineplex would not see the amount they would escalate it to the UK court and it will take ages. Anyway I was happy to see that even a Canadian broker put a probability of 25% of winning.
With regards to B.O. it is better to compare to H2 2021 as Hexam mentioned. B.O. for H1 2022 will be higher than H2 2021 by c. 200m which is not bad. The estimated of H1 revenue will stand to $1650/1750m. The most important will be to see how they manage their cost by reducing their CAPEX. I have read that they hedge the interest increase with a 5 years Swap.

It’s a bit strange to tell you this but try to go one more time to the cinema before Thursday 30th. I usually go to the cinema on the weekend but I have book with my wife to see Jurassic World on Wednesday. She asked me why? I told her that it will be good for the H1 result. So guys stay strong don’t look at the SP the B.O. is a good metrics I would say. Try to go with your family and friends before Thursday midnight so Cine can release a good H1 22 report.

Sorry I meant H2 2021