The past six months at a glance
* Visitor numbers increased by 5.5% to 8.8 million.
* Total revenue increased by 4.9% thanks to the higher number of visitors and the strong increase in revenue from film distribution. The first six months were characterised by a higher share of 'non-popcorn movies' (local films, niche films). Due, among other things, to the World Cup football, revenue from screen advertising and business-to-business revenue were put under pressure.
* Current EBITDA was 2.6% higher due to the higher number of visitors, further efficiency measures and the results from film distribution.
* Visitors from the recently acquired complexes contributed to a lesser degree to EBITDA, which was also negatively impacted by the expansion costs incurred in Spain and the Netherlands at
EUR 0.6 million.
* Excluding expansion costs, current profit increased.
* Free cash flow increased from EUR 7.6 million to EUR 11.6 million, especially thanks to the positive impact of working capital movements, higher EBITDA adjusted for a number of non-cash items, lower interest paid and a number of one-off and timing effects.
The number of visitors increased by 5.5%, thanks to a good international and local film offer and the mild winter weather in the first quarter. The second quarter was adversely impacted by the World Cup football and the fine June weather in Belgium and France. The recently acquired Spanish multiplexes made a limited contribution to the positive evolution of the number of visitors in the second quarter. The success of Spanish and French films also played its part. The higher number of visitors led to an increase in total revenue of 4.9%. The increase in revenue was lower than that of the visitors due to a slightly lower revenue per visitor, the larger share of France and Spain in the total number of visitors and the decrease in revenue from screen advertising and advertising agency Brightfish, partly offset by the strong increase in revenue from film distribution.
Current EBITDA increased by 2.6% as a consequence of the higher visitor numbers, partly offset by the higher overhead, mainly due to consultancy costs related to expansion projects. Current profit was 1.1% lower due to higher income tax expenses, partly offset by lower interest charges. Excluding the expansion-related expenses current profit increased. Profit per share was EUR 2.52. This is 2.7% down on the previous year.