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Switzerland
Poland
1%
The Netherlands
4%
Spain
13%
France
23%
24%
62%
2%
12%
2013
2014
Belgium
59%
Film distribution
2%
B2B
15%
Real estate
4%
Brightfish
4%
In-theatre
sales
21%
21%
54%
1% 4%
4%
16%
B
5
2013
Switzerland
Poland
1%
The Netherlands
4%
Spain
13%
France
23%
24%
62%
2%
12%
2013
2014
Belgium
59%
Film distribution
2%
B2B
15%
Real estate
4%
Brightfish
4%
In-theatre
sales
21%
21%
54%
1% 4%
4%
16%
2014
Box office
54%
2013
Discussion
of the Results
2014 was a year characterized by expansion. Kinepolis
entered the Dutch market, grew in Spain and
announced various new-build projects. In the course of
the year investments were also made in strengthening
the organization as part of the Group’s expansion.
Revenue by country in 2014 vs. 2013
Revenue by activity in 2014 vs. 2013
Kinepolis welcomed 19.7 million visitors in 2014, a
rise of 8.0% compared to 2013. This increase was
thanks to the acquisition of cinemas in the
Netherlands and Spain and a good local film offer
in France and Spain. The warm weather in June
and in the autumn in Belgium and France,
together with the World Cup Football, as antici-
pated, had a negative impact on the visitor
numbers. The higher visitor numbers led to an
increase in total revenue by 6.8%. The core
activities box office and in-theatre sales per-
formed strongly. Spain’s larger share and the
sectorial price campaigns in France and Spain had
a negative impact on the revenue per visitor. Total
revenue of Brightfish rose due to higher revenue
from events, whereas lower screen advertising
revenue was generated. Film distribution and real
estate revenue increased. Business-to-business
revenue fell, due to the lower screen advertising
revenue and fewer corporate events as a conse-
quence of the World Cup Football.
REVENUE
Turnover was € 262.6 million, an increase of 6.8%
compared to 2013. Revenue did not increase in
line with the number of visitors due to Spain’s
larger share of in the total visitor number and the
decrease in revenue from screen advertising,
partly offset by the increased revenue of advertis-
ing agency Brightfish and film distribution as well
as higher real estate revenue. Revenue from ticket
sales (box office) increased by 6.8%. Revenue from
food, beverages and retail (in-theatre sales) rose
by 7.7%.
Revenue can be broken down as follows:
Box office
revenue was € 140.9 million, a rise of
6.8% compared to 2013. This increase was driven
by the expansion in the Netherlands and Spain,
offset by lower sales of 3D tickets and glasses and
lower virtual print fee (VPF) revenue. There was a
slight drop (-1.1%) per visitor as a consequence of
Belgium’s lower share and Spain’s higher share in
total box office revenue. Per visitor revenue was
also negatively impacted by the “Cine Miercoles”
campaign in Spain, with across-the-board
ticket price reductions on Wednesdays, and
“Actions jeunes” in France, a campaign offering
discounts on film tickets to the under 14s.
22
KINEPOLIS GROUP
ANNUAL REPORT 2014
03 / MANAGEMENT REPORT