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24 Nov 2015 07:00
CINEWORLD GROUP PLCTrading Update
Cineworld Group plc (the "Group") announces the following trading update.
Revenues for the 46 weeks to 19 November 2015 were as follows:
| Cineworld Group pro forma(1) % change vs. prior period(2) | UK & Ireland % change vs. prior period | CEE(3) & Israel pro forma % change vs. prior period(2) |
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Total revenues | +11.9% | +11.2% | +13.4% |
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Box Office | +10.8% | +10.1% | +12.5% |
Retail | +12.8% | +10.2% | +18.3% |
Other Income | +16.2% | +22.7% | +10.6% |
(1) Pro forma basis reflects the full 46 week year on year performance of Cinema City which became part of the Cineworld Group on 28 February 2014.(2) To provide information on a comparable basis, the prior year reflects the trading for the 46 weeks from 3 January 2014 to 20 November 2014. Where % change vs. prior year information includes performance generated in currencies other than sterling, the % is presented on a constant currency basis. On the basis of actual exchange rates, the total revenues increased by an amount of 8.7% (rather than the 11.9% increase on a constant currency basis).(3) CEE is defined as Central and Eastern Europe and includes Poland, Hungary, Romania, Czech Republic, Bulgaria and Slovakia.
The solid first half performance has continued and for the 46 week period ended 19 November 2015 pro forma box office revenues increased by 10.8%. Admissions growth took place in all territories with the exception of Slovakia. Q4 has started strongly with the release of "Spectre" on 26th October in the UK and on 5th November in CEE and Israel. The increase in admissions and nature of the film mix bolstered the retail revenue growth, which has increased by 12.8% as well as advertising and distribution revenues, which are reflected within the 16.2% increase in other income.
During the second half of the year we have continued to deliver on our expansion plans, recently opening three new cinemas in the UK (Solihull NEC, Newport and Whiteley, with 28 screens in total). In CEE & Israel, during the second half we have opened four new cinemas in Romania (Constanta City Park, Deva, Severin and Suceava, with 30 screens in total), two in Poland (Lublin Felicity and Starogard, with 15 screens in total) and one 16 screen cinema in Jerusalem, Israel. We are scheduled to open a further three cinemas in the UK (Hinkley, Stoke-on-Trent and Crouch End with 19 screens in total) bringing the total number of multiplex cinemas opened during year to a record number of 19, with 160 screens in total. By the end of the year the Group will have over 2,000 screens.
The film slate for the remainder of 2015 includes two major releases, the final Hunger Games title "Hunger Games: Mockingjay Part 2" and "Star Wars: The Force Awakens". The Board remains confident of delivering a performance for the year as a whole in line with current market expectations.
Contacts
Cineworld Group plc
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| Bell Pottinger |
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Israel Greidinger | 020 8987 5000 | Elly Williamson | 020 3772 2579 |
Nisan Cohen | 020 8987 5000 | Charlie Harrison |
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Notes to editors
About Cineworld Group plc
Cineworld Group plc was founded in 1995 and listed its shares on the London Stock Exchange in May 2007.
The company has grown organically and by acquisition to become one of the leading cinema groups in Europe with the number one or number two position by number of screens in each of its regions. Cineworld currently operates 1,999 screens across 216 sites in the UK and Ireland, Poland, the Czech Republic, Slovakia, Hungary, Bulgaria, Romania and Israel.
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