Reading International reports decrease in revenue but improvement in operating loss and EBITDA for Q1 2025.
From GlobeNewswire: 2025-05-15 22:11:00
Reading International, Inc. announced its first-quarter financial results for 2025, with total revenues of $40.2 million, a decrease from $45.1 million in Q1 2024. Operating loss improved by 8.5% to $6.9 million, and EBITDA improved by 173% to $2.9 million. The company reported a positive trend in its cinema and real estate divisions.
During the first quarter of 2025, Reading International, Inc.’s revenues were negatively impacted by foreign exchange movements, with the Australian and New Zealand dollar weakening against the U.S. dollar compared to Q1 2024. Despite challenges, the company achieved operational improvements and demonstrated a focus on efficiency in its cinema business.
The company celebrated the box office success of two Warner Bros movies in April 2025, with upcoming releases expected to boost revenues. Reading International, Inc. also reported positive results from its global Real Estate division, with a 79% increase in operating income compared to Q1 2024, driven by asset sales and debt reduction strategies.
Reading International, Inc.’s cinema business saw a decline in financial results for Q1 2025 compared to the same period in 2024, attributed to weaker film slates and lower attendance. The company remains committed to the cinema industry, with strategic actions taken to optimize operations and engage with audiences effectively.
In the real estate sector, the company reported a decrease in global real estate revenue but a significant increase in operating income for Q1 2025 compared to the same period in 2024. Asset sales and debt reduction initiatives contributed to the positive performance of the real estate division.
As of March 31, 2025, Reading International, Inc. had cash and cash equivalents of $5.9 million, total gross debt of $186.6 million, and total assets valued at $440.9 million. The company is contracted to sell assets in Australia and is working on extending the maturity date of loans for live theaters in New York City to strengthen its financial position.
A pre-recorded conference call and webcast discussing the first-quarter financial results will be available on the company’s website on Tuesday, May 20, 2025. Investors can submit questions by email before May 19, 2025. Reading International, Inc. is a leading entertainment and real estate company operating cinemas and properties in the U.S., Australia, and New Zealand.
Read more at GlobeNewswire:: Reading International Reports First Quarter 2025 Results