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*this is what Cineworld call ....

Agree with your points, Put.

Something to consider is cinema audiences are heavily bias towards 15-24.

It's a sad reality that many, from this generation, still live at home with their parents.

Often social activites like going to the mall, going bowling, cinema, eating out are often respite from being at home and looking for some time away from the parents to mingle with friends and partners.

Cinema goes beyond the movie the is playing and more about the experience of a leisure activity OUTSIDE the home.

Cineworld already partners with a number of business/restaurants including gyms.

This is what we call 3rd party switching and reward journeys all to promote brand loyalty and membership retention.

You mean like this?

https://www.cineworld.co.uk/static/en/uk/london-unlimited-local-discounts

Good points and we also need to appreciate, per your earlier comment on dividend which was suspended, while the company's executive directors deferred their salary and bonus payments. Non-executive directors of the board also deferred their pay as well.

Hi Johnny did you account for flexible manpower and furlough support? Good breakdown, though and does support the positive sentiment that Cineworld have sufficient liquidity.

Good for cinemas are footfall is directed to the leisure activites that remain open.

This is good news and an interim measure to ensure we reduce the spread of coroanvirus.

Facemasks are just a tactical inconvienence and this double downs on the governments response to move AWAY from national lockdowns. Those are a thing in the past. Regional lockdowns and we don't impact the entire economy.

A good decision I believe.

@Themuir01 - Investroid has done well with Cine so far. He's not de-ramping just posting something for consideration.

NatWest Group (RBS) another one.

Pre-tax loss of £770 million, compared to a £2.7 billion profit the year before.

Analysts had on average expected to see anywhere from £943 million to £1.5 billion hit and they came under this.

Their share price is now UP 1.7%

It's no secret that Cineworld have been closed in their largest territory for over 3 months , thus their second quarter isn't going to report any earnings there.

What will matter is their liquidity position for the balance of the year and their re-opening in other smaller territories.

I believe the numbers will support sustainability into the balance of the year and even the first quarter, half of next year through their aggressive operating negotiations.

The reason the share price is where it is, is because of the uncertainty to survive.

A statement from the Bod re-affirming their viability will be appreciated.

I believe Mooky (CEO) together with his BoD will be looking at strengthening their financial position during these times.

If they can demonstrate sufficient funds for H1 2021, that will be enough to support a vaccine programme being underway and joining global economies restoring along the way.

Time will tell, as you say.

Great comment @ Ian

Feb 16 2018 = Short Position = 14.09%
Share Price = 249p

Feb 20 2020 = Short Position = 14.67%
Share Price = 264p

Mar 20 2020 = Short Position = 4.37%
Share Price = 60p

Between Apr 5 2020 and Jun 24 2020 = ~4%
Share Price = 55p - 79p with a peak of 101p

Cineworld, England, UK is RE-OPENING, tomorrow and the ticket bookings look encouraging.

Cineworld, US are re-opening 26th August and Tenet is premier in the UK and international territories the same day. The US get this 4th September.

You are aware of the FOMO (fear of missing out) - the hype and anticipation, that American's cannot view ahead of Europe will almost certainly drive box office sales. They will want to be part of the experience.

Ignore the noise from the de-ramping shorters and don't let them pry your shares from you.

Remember, only ~20% of the Cineworld shares are publically listed, they rely on spoofing the market by borrowing and selling large blocks to drive down the price so they can shake investor sentiment and then proceedto pick-up cheap shares that PIs have purchased at a much higher price so they can then return the shares and pocket the difference.

If you believe in the funamentals of cinema, recreation activities and if you can sit in an office, sit in a school or take a ride in a plane, you can certanly sit and enjoy a movie experience for 90mins (on average).

Cineworld will disclose their liquidity position soon enough and a rush to close shorts will take place.

For now, ignore the noise, the constant posts particularly from backpassage; it's now just that, noise.

Source: https://shorttracker.co.uk/company/GB00B15FWH70/

The best thing that happen was Cineplex breaching their debt covenants.

It ended up SAVING Cineworld $2.3 BILLION DOLLARS.

From their contract:
"Should the Acquisition Agreement be terminated under certain circumstances. The Major Shareholder has also agreed to pay an additional breakfee of up to £28.3million"

To buy Cineplex at 4 x the premium when their valued reduced to just a quarter - would have been a terrible deal.

So Cineworld have to pay £28million - that is paltry compared to over-paying £1bn for something worth £250m

Thanks for highlighting that positive news!

lol backpedaling when told to quit making up stories.

Backsidepassage, you integrity is shot.

Cineworld will be issuing an RNS soon enough to clarify their position.

Do you think a company with a multi-billion dollar turnover, won't be ontop of their finances gearing towards re-open time.

This isn't an AIM listed company.

Game changer.

Source: https://uk.reuters.com/article/uk-health-coronavirus-russia-vaccine/russian-covid-19-vaccine-approval-imminent-source-says-idUKKCN24U1VJ

Speaking of pensions, it is well known that rival cinema operator, Vue is owned privately by OMERS Private Equity (Ontario Municipal Employees' Retirement System) and Alberta Investment Management. OMERS is a Canadian Province of Ontario Government pension fund created in 1962 to handle the retirement benefits of all local government employees in the province of Ontario in the Canadian province of Ontario.

Source: https://www.omersprivateequity.com/Investments/Portfolio/VUE-Entertainment

Nice post, Johny.

Cineworld also suspended executive pay and have re-iterated their costs are 70% variable.

I'm looking forward to next week when we see CIneworld re-affirm their liquidity position.

This was tested aggressively by the shorters, yesterday. It refused to go below 34p. A bottom has been found.
Investors will now await results 06/08, where I believe Cineworld will re-affirm the liqudidity and give more details on their lease negotiatons and projections for 2020 H2 and into 2021.

The last time Cineworld issued this, the share moved quickly from 40s to 60s to 80s to 90s.

That is great analysis.

I was looking to undertake a similar calculation but you beat me to it.

It is understood by the industry that cinemas are profitable at as little as 20-30% occupancy.