Hollywood strikes lead to lower visitor numbers at Kinepolis

From GlobeNewswire: 2024-08-22 01:00:00

Kinepolis saw a challenging first half of 2024 due to Hollywood strikes impacting visitor numbers. However, a promising lineup for the rest of the year includes releases like ‘Joker: Folie à Deux’ and ‘Gladiator II’. Despite lower revenue and profit, per visitor spending increased, showcasing resilience and investment in customer experience.

Key achievements in the first half of 2024 include opening new ScreenX and Laser ULTRA theaters, as well as launching VIP, Premiere, and Cosy Seats. Kinepolis also received the 2024 Milestone Award for industry excellence. Pieter-Jan Sonck has been appointed as the new CFO, emphasizing growth and innovation initiatives.

Total revenue for H1 2024 was €242.8 million, a 14.9% decrease compared to the same period in 2023. EBITDA and EBITDAL also declined due to decreased visitors. However, there was a slight increase in per visitor spending. The net financial debt increased from €378.3 million in December 2023 to €392.0 million in June 2024.

CEO Eddy Duquenne noted the impact of Hollywood strikes on the first half, with a slow recovery until June. Positive results have been seen from the focus on immersive experiences, with successful events like the Kinepolis Innovation Lab Summit. The company looks forward to a stronger film calendar in the upcoming months.



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