Kinepolis generates EUR 109.7 million revenue and EUR 14.3 million profit despite fewer visitors

| Financial

Half-yearly Financial Report 30 June 2013

Kinepolis Group welcomed 8.4 million visitors in the first half, a decrease of 11.1%, influenced by the severe winter weather, a weak (local) film offer and the economic crisis combined with the rise in VAT in Spain.

* Ticket and in-theatre sales revenue per visitor rose further.
* The current EBITDA per visitor increased thanks to higher revenue per visitor and improved operating efficiency, as a result of which total current EBITDA decreased by only 4.5% and current profit by only EUR 1.1 million.
* The total revenue from screen advertising (Brightfish) increased further.
* Business-to-business and real estate revenue remained in line with expectations.
* Kinepolis sold part of an undeveloped site in Poland for EUR 2.0 million and realised a capital gain of EUR 0.9 million.
* The earnings per share increased by 5.3% to EUR 2.59 per share, also due to the continued execution of the share buy-back programme.
* The free cash flow decreased from EUR 15.6 million to EUR 7.6 million, due in part to the payment of interest on the bond and a number of one-off and timing effects.
* The net financial debt rose from EUR 90.2 million at 31 December 2012 to EUR 107.5 million at 30 June 2013, as a consequence of the share buy-back for EUR 11.8 million and dividend payments of EUR 13.1 million.

Despite the fall in the number of visitors by 11.1% or 1.0 million, the fall in revenue was limited to 6.5%, thanks to the continued rise in revenue per visitor and the favourable development of screen advertising. Together with the further improvement in operating efficiency, this led to a fall in current EBITDA by just 4.5% to EUR 30.7 million, compared to a rise in the current EBITDA margin to 27.9% and a further rise in the current EBITDA per visitor of 7.3%. 

The fall in current profit by just EUR 1.1 million together with the continued rollout of the share buy-back programme resulted in the creation of greater value for shareholders. Earnings per share rose by 5.3% to EUR 2.59.

About Kinepolis

Kinepolis Group NV was formed in 1997 as a result of the merger of two family-run cinema groups and was listed on the stock exchange in 1998. Kinepolis offers an innovative cinema concept which serves as a pioneering model within the industry. In addition to its cinema business, the Group is also active in film distribution, event organization, screen publicity and property management.

In Europe, Kinepolis Group NV has 63 cinemas spread across Belgium, the Netherlands, France, Spain, Luxembourg, Switzerland and Poland. Since the acquisition of Canadian movie theatre group Landmark Cinemas and American movie theatre group MJR Theatres, Kinepolis also operates 36 cinemas in Canada and 10 in the US.

In total, Kinepolis Group currently operates 109 cinemas worldwide, with a total of 1,131 screens and more than 200,000 seats. Kinepolis’ employees are all committed to giving millions of visitors an unforgettable movie experience. 

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A. Van Troos,
Communication Manager

Kinepolis Group nv
The Office I
Moutstraat 132-146
B - 9000 Gent

T: +32 9 241 00 16


Kinepolis Group NV
Schelde 1
Moutstraat 132-146
B-9000 Gent

+32 9 241 00 00