Hollywood strike impacts Kinepolis visitor numbers, but promising film line-up leads to turnaround

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

In the first half of 2024, Kinepolis faced a drop in visitor numbers due to a lack of Hollywood blockbusters caused by last year’s strike. However, a turnaround began in June with successful releases like ‘Inside Out 2’ and ‘Deadpool & Wolverine’. Promising films like ‘Joker: Folie à Deux’ and ‘Moana 2′ will boost autumn line-up.

Despite a decrease in revenue, EBITDA, EBITDAL, and profit compared to the same period last year, Kinepolis saw a slight increase in revenue per visitor. The company remains a financial leader, investing in innovation to enhance customer satisfaction and revenue growth. Key figures for the first half of 2024 show a decline in financial performance.

Significant achievements in the first half of 2024 include the opening of new theatres, rollout of VIP seats, and renovation of acquired cinemas. Revenue for the first half of 2024 decreased by 14.9% compared to the same period in 2023. EBITDA was €54.4 million, EBITDAL was €37.1 million, and total profit was €0.1 million.

CEO Eddy Duquenne highlighted the impact of the Hollywood strike on Kinepolis’ performance up to May, but noted a positive shift in June with successful film releases. The company’s focus on enhancing customer experience and innovation has shown positive results, including the successful organization of the Kinepolis Innovation Lab Summit.



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