Hollywood strike impacts Kinepolis attendance in first half of 2024, but promising fall lineup

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

Kinepolis’ first half of 2024 was impacted by Hollywood’s strike, leading to lower attendance. However, the lineup for the rest of the year looks promising, with successful releases like “Vice-Versa 2” and “Deadpool & Wolverine.” Anticipated fall releases include “Joker: Folie à Deux,” “Gladiator II,” and “Vaiana 2.”

Despite a decrease in revenue, EBITDA, EBITDAL, and profit in the first half of 2024 compared to the previous year, revenue per visitor slightly increased. Kinepolis remains a financial leader, investing in innovative cinema experiences to enhance customer satisfaction and revenue per visitor, ensuring long-term growth.

Key achievements in the first half of 2024 include opening 12 new ScreenX theaters in Europe and North America, introducing 6 new Laser ULTRA theaters, and renovating acquired cinemas like Kinepolis Amnéville and Béziers. Additionally, the inaugural ‘Kinepolis Innovation Lab Summit’ was a success, with Mr. Pieter-Jan Sonck appointed as the new CFO.

Financial figures for the first half of 2024 show total revenue of €242.8 million, a 14.9% decrease from the same period in 2023. Despite lower attendance, revenue per visitor for tickets, drinks, and snacks helped mitigate revenue decline. EBITDA was €54.4 million, EBITDAL was €37.1 million, and total profit was €0.1 million. The net financial debt increased to €392.0 million by June 30, 2024.

CEO Eddy Duquenne commented on the first half, noting the impact of Hollywood’s strike on Kinepolis until May. However, the success of major releases like ‘Vice-Versa 2’ and ‘Deadpool & Wolverine’ in June sets a positive tone for a busier cinematic schedule in the fall. Kinepolis’ focus on enhancing the customer experience and innovation continues to yield positive results.



Read more at GlobeNewswire:: La grève à Hollywood joue sur la fréquentation de Kinepolis