Hledat v komentářích
Investiční doporučení
Výsledky společností - ČR
Výsledky společností - Svět
IPO, M&A
Týdenní přehledy
 

Detail - články
Cinema City: 2Q12 results in line with market expectations

Cinema City: 2Q12 results in line with market expectations

31.8.2012 10:02

Cinema City’s top line and EBITDA came in line with the consensus expectation for 2Q12, while the operating profit and bottom line were 15% and 11% below consensus respectively in the period. Revenues came in at € 58.6m (down 6.1% y/y) for 2Q12, or 3% above the market’s expectations. The year-on-year deterioration in revenues was the consequence of lower theatre sales (down 5.5% y/y) and distribution revenues (down 13% y/y) in the second quarter. Number of tickets sold dropped 3.6% y/y to 7.6m in 2Q12, despite an increase in the average number of screens in the period (by 50 screens or 5.8% y/y). On a likefor- like basis, ticket admissions dropped by 6.6% y/y in 2Q12. The top line was affected also by a lower average ticket price in € terms (4.50 € in 2Q12 vs. 4.63 in 2Q11), although the average ticket price grew in local currency terms.

EBITDA came in at € 10.8m (down 2.4% y/y, or 4.3% y/y on an adjusted basis) in 2Q12, in line with the consensus. The EBITDA margin increased 0.7pp y/y (or 0.3pp y/y on an adjusted basis) to 18.8% in 2Q12. The improvement in profitability year-on-year was the consequence of the lack of restructuring costs, lower SG&A costs and improved profitability in the cinemas acquired from Palace Cinemas.

The company’s bottom line came in at € 2.3m (down 44% y/y) in 2Q12, or 11% below the market expectations, mainly on the back of higherthan-
expected D&A charges in the period.

As expected, the company’s revenues posted a year-on-year decline in the seasonally weak second quarter. One positive fact is that despite the lower year-on-year revenues, Cinema City managed to lift its profitability in 2Q12. The management expects to open six new cinemas with 80 screens by the end of 2012.


Váš názor
Na tomto místě můžete zahájit diskusi. Zatím nebyl zadán žádný názor. Do diskuse mohou přispívat pouze přihlášení uživatelé (Přihlásit). Pokud nemáte účet, na který byste se mohli přihlásit, registrujte se zde.
Aktuální komentáře

Související komentáře
Nejčtenější zprávy dne
Nejčtenější zprávy týdne
Nejdiskutovanější zprávy týdne
Denní kalendář hlavních událostí
Nebyla nalezena žádná data