54 128
RESEARCH AND DEVELOPMENT
In the year under review, Kinepolis developed a number of
new concepts for the benefit of the operating entities
within the framework of the three strategic pillars.
Kinepolis is committed to constantly adapting the experi-
ence it provides to the changing demographic trends, to be
innovative with regard to picture and sound and other
factors, in order to improve the experience of the custom-
ers and protect the profitability of the group.
As part of this, the Kinepolis Innovation Lab was set up in
2016 with the aim of generating much more bottom-up
innovation from the operating entities rather than the
top-down sort. Examples of concepts developed in 2016
are the Sushicque concept in Spain (sushi bar operated by
Kinepolis), the Cinetray concept in Belgium and the mobile
Nacho island in Spain. Efforts are currently being invested
in the Ciné K concept in France, which focuses on more
local and alternative movies, and the continued rollout of
Cosy Seating. The Belgian e-shop, which sells gift boxes,
was launched in France and the new Kinepolis app was
released in all countries in February 2017.
CONFLICT OF INTERESTS POLICY
The Board of Directors took the following decisions
on 23 March 2016, pursuant to Article 523 of the
Companies Code.
★
★
Evaluation of the 2015 management targets for
Executive Management
★
★
Award the resulting variable remuneration of €400 000
to Mr Eddy Duquenne and € 220 000 to Mr Joost Bert,
as well as a discretionary bonus of € 60 000 to Mr Eddy
Duquenne due to the exceptional results and the
considerable efforts made to implement the expansion
strategy and the successful integration of the acquired
cinemas in Spain and the Netherlands;
★
★
Award to Mr Eddy Duquenne of the balance of the
outperformance bonus for the fiscal year 2014 of
€ 65 000 after the attainment of the targets for the
acquired complexes in Madrid and Alicante and the
complexes that are part of the Wolff Group;
★
★
Establishment of the management targets for fiscal year
2016;
★
★
Allocation of 90 000 share options to Mr Duquenne and
45 000 share options to Mr Joost Bert and Mr Philippe
Ghekiere respectively, subject to the approval of the
2016 Share Option Plan by the General Meeting of
11 May 2016.
The relevant excerpts from the minutes were included in
the Report on the Unconsolidated Financial Statements.
PROFIT APPROPRIATION AND DIVIDEND PAYMENT
In its proposal to the General Shareholders’ Meeting
concerning the appropriation of profit and payment of
dividend the Board of Directors took various factors into
consideration, including the Company’s financial situation,
operating profits, current and expected cash flows and
expansion plans.
The payment of a gross amount of € 0.87
(1)
per share for
fiscal year 2016 is proposed, based on a pay-out ratio of
50% of net profit. Subject to the approval of the General
Meeting, the Board of Directors decided to make the
dividend available to shareholders through a financial
institution of their choice on 16 May 2017 (ex-date:
12 May 2017; record date: 15 May 2017) at a financial
institution of the shareholder’s choosing.
Other information
Cosy Seating
(1) Based on the number of dividend eligible shares on 17/02/2017.
03 / MANAGEMENT REPORT
54
KINEPOLIS GROUP
ANNUAL REPORT 2016