From GlobeNewswire: 2025-03-31 09:00:00

Reading International, Inc. announced its financial results for the fourth quarter and full year of 2024. In the fourth quarter of 2024, total revenues increased by 29.3%. Adjusted EBITDA improved by 250.5%. However, the full year results for 2024 were behind 2023 due to industry-wide movie release schedule shifts from the 2023 Hollywood strikes.

The weakening of the Australian and New Zealand dollar exchange rates against the U.S. dollar negatively impacted global revenue despite the improvement in the fourth quarter of 2024. The company remains optimistic about the quality and quantity of upcoming movie releases in 2025 that could boost revenue.

Reading International, Inc. saw increased box office revenues in the fourth quarter of 2024 due to blockbuster hits. However, the 2023 Hollywood strikes affected the beginning of 2024, leading to a decrease in full year global cinema revenue. Various operational metrics were achieved in 2024, including record F&B spends per person.

The real estate division of Reading International, Inc. saw revenue and operating income improvements in 2024 compared to 2023. The company continues to focus on cinema exhibition in New Zealand and plans to further monetize select assets for debt reduction and liquidity support.

Reading International, Inc. plans to post a webcast discussing its 2024 financial results on its corporate website by April 2, 2025. The webcast will include remarks from key executives and a pre-recorded question and answer session. Investors can submit questions by April 1, 2025.

The financial results of Reading International, Inc. for 2024 show a decrease in total revenues compared to 2023. The company’s balance sheet indicates cash and cash equivalents of $12.3 million and total bank borrowings of $202.7 million as of December 31, 2024. Plans for asset monetization and debt reduction are in place for 2025.



Read more at GlobeNewswire:: Reading International Reports Fourth Quarter and Full Year