Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
Thanks hex, and thanks for being a great member of the board. You clearly have a lot of experience and thanks for sharing. I’ve learned a lot ( the hard way) this last year.
Hexam - how has cine been able to increase cash in hand to 189m? I assume that January was operating at a loss again? Is it because ch11 allows cine to halt certain payments?
Just investors bias … I’ve been guilty of it too. I averaged down at 2.8 but still heavy losses. I think it’s time to sell up Monday. I was
Hoping the restructuring would help but CINE has run out of road.
Maid , I think we’re toast mate… your boundless optimism has been fun, but I think the end is here …time to face up !
It’s on the krill website now… :((((
Did I miss this? Can’t find it anywhere?
From the interweb:
The linchpin of the entire process is the business’s creation of a reorganization plan, including a proposal for how much to pay each creditor. After the plan is presented to the court, the business meets with a court-appointed committee of major creditors. At this get-together, called a Section 341 meeting, a business representative has to answer, under oath, creditors’ questions about the business.
Next, creditors submit their desired modifications to the plan, which may be extensive. After some back and forth, the court approves an often-heavily modified version. Then creditors get to vote. If two-thirds accept the plan, the court confirms it and the legal part of the bankruptcy is over.
HNS - agree.
Good luck everyone. I hope we ALL make it out of this hell ride of a share…. Bonkers hope you’re ok mate. IMO I think cine pull recover from these lows… I’ve averaged down - but obviously may be wrong yet again … GLA
Anyone know how to access the status update today?
I’m aware of the risks and I pressed the buy button hard at 2.9p
The company’s revenue in 2021, when the site was open from mid-June onwards subject to restrictions, climbed to €3.8 million. This was up 72 per cent from revenue of €2.2 million in 2020, when it was closed for the majority of the year, but is still way down on the €10.7 million recorded in 2019.
Ticket sales accounted for €2.8 million of the 2021 total, up from €1.5 million, in a year when the Irish box office was led by the much-delayed release of the latest James Bond film, No Time to Die, followed by Spider-Man: No Way Home. Food and drink sales generated most of the rest of its turnover.
Cineworld Group indicated last month that it was seeking out prospective buyers for all of its assets, warning shareholders that there was “no guarantee of any recovery” in their financial interests as a result of its restructuring.
Daniel Craig and Ana de Armas in No Time to Die, the Irish box office leader in 2021. Photograph: MGM
Laura Slattery
Tue Feb 7 2023 - 06:15
After-tax losses at pandemic-struck Cineworld Dublin widened to €2.67 million in 2021, with the auditors of the company behind the multiplex cinema on Parnell Street saying they were unable to express an opinion on its financial statements due to “material uncertainties” at its parent group.
Cineworld, the world’s second-biggest cinema chain, filed for Chapter 11 bankruptcy protection in the US last September.
In accounts just filed at the Companies Office for Adelphi-Carlton Limited, the company behind the sole Cineworld in the Republic, the directors state its net liabilities had swelled to almost €12.3 million as of the end of 2021, up from €9.6 million a year earlier, and that the results for 2022 “have not shown significant improvements”.
While the performance of the 17-screen cinema is expected to gradually return to pre-pandemic levels, “this is anticipated to take a number of years”, with monthly cash flows not expected to return to pre-Covid levels until 2024.
The company expects to be cash negative in the next three reporting periods and “is therefore reliant on financial and other support from its ultimate parent entity Cineworld Group plc in order to meet its obligations”.
The accounts were prepared on a going concern basis, in line with the relevant accounting standards, the directors said. But they added that they recognised that the “uncertainties” surrounding its parent group “may cast significant doubt on the company’s ability to continue as a going concern and therefore that the company may be unable to realise its assets and discharge its liabilities in the normal course of business.”
The company’s auditing firm, PwC, said it had been “unable to form a conclusion on the appropriateness of the going concern basis of preparation of the financial statements” due to the ongoing US bankruptcy proceedings as well as legal fallout in Canada from Cineworld’s scrapped acquisition of Toronto-headquartered Cineplex.
Although Adelphi-Carlton Limited swung from an operating loss of about €945,000 in 2020 to an operating profit of almost €692,000 in 2021 and its pretax losses also narrowed, higher finance costs meant its net loss of €2.67 million deepened from a figure of €2.42 million the previous year.
The company’s revenue in 2021, when the site was open from mid-June onwards subject to restrictions, climbed to €3.8 million. This was up 72 per cent from revenue of €2.2 million in 2020, when it was closed for the majority of the year, but is still way down on the €10.7 million recorded in 2019.
Ticket sales accounted for €2.8 million of the 2021 total, up from €1.5 million, in a year when the Irish box office was led by the much-delayed release of the latest James Bond film, No Time to Die, followed by Spider-Man: No Way Home. Food and drink sales generated most of the rest
And biscuits
Also - note record high quarter concessions
https://www.newswire.ca/news-releases/cineplex-inc-reports-fourth-quarter-and-2022-year-end-results-880117869.html
Given that we’ve been sitting at the bottom of the ocean, I’d settle for sea level right now
"Overall, it’s been a stronger-than-expected start to the year at the box office. In January, domestic returns were down roughly 36% from pre-pandemic times, but they were encouragingly up around 68% from 2022, according to David A. Gross, who runs the movie consulting firm Franchise Entertainment Research. The major boost from last year can be attributed to studios releasing more movies (in January, there were 10 wide releases in 2023, compared to five in 2022 and 11 in 2019) on the big screen."
Lol ok maid … you do you
Maid you need help man