Cineplex Reports Record Amusement &
Leisure First Quarter Results and Highest Combined April Box Office
and Concession Revenues
TORONTO, May 12, 2023
/CNW/ - (TSX: CGX) - Cineplex Inc. ("Cineplex" or the "Company")
today released its financial results for the three months ended
March 31, 2023. Unless otherwise
specified, all amounts are in Canadian dollars.
First Quarter Summary
- Total revenues increased 49% to $341.0
million compared to first quarter of 2022
- Net loss improved to $30.2
million compared to a net loss of $42.2 million in first quarter of 2022
- Adjusted EBITDAaL increased to $20.2
million compared to a loss of $5.7
million in first quarter of 2022
- First quarter record adjusted EBITDAaL of $8.9 million for Player One Amusement Group
("P1AG")
- All time quarterly record adjusted store level EBITDAaL of
$12.1 million for Location-Based
Entertainment ("LBE")
- First quarter record BPP of $12.63, 5.3% higher than prior year
- First quarter record CPP of $8.85, 0.3% higher than prior year
"We were extremely pleased with the record results in our
amusement and leisure businesses, which helped mitigate the
short-term film content supply challenges during the first quarter
of 2023, resulting in total revenues of $341
million and adjusted EBITDAaL of $20.2 million," said Ellis Jacob, President & CEO, Cineplex. "We
are excited to report our highest ever combined April box office
and theatre food service revenues in April
2023."
"Coming out of this year's CinemaCon convention, the commitment
of traditional and non-traditional studios to theatrical has never
been stronger. We are extremely pleased with the quantity and
quality of upcoming film product for the remainder of 2023 and into
2024. We look forward to many more highly anticipated films set to
hit the big screen over the next few months including Fast
X, The Little Mermaid, Spider-man: Across the
Spider-Verse, The Flash, Indiana Jones 5 and the Dial
of Destiny, Mission: Impossible 7 Dead Reckoning Part One,
Oppenheimer, Barbie, and many more."
"With strong film product, commitment from our studio partners,
and the record results from our diversified businesses, we have
much to be excited about in the future," Jacob concluded.
The following table compares 2023 monthly box office revenues to
2019 monthly box office revenues:
Month
|
2019 Box office
(i)
|
2023 Box office
(i)
|
2023 as a percentage
of 2019
|
January
|
$52,034
|
$45,744
|
88 %
|
February
|
$41,892
|
$36,950
|
88 %
|
March
|
$62,570
|
$40,644
|
65 %
|
Q1
Total
|
$156,496
|
$123,338
|
79 %
|
April
|
$63,759
|
$61,278
|
96 %
|
(i) Amounts are in
thousands of dollars.
|
First Quarter Financial Results
Financial
highlights
|
First
Quarter
|
(in thousands of
dollars, except theatre attendance in thousands of patrons and per
share and per patron amounts)
|
2023
|
2022
|
Change
(i)
|
Total
revenues
|
$340,957
|
$228,723
|
49.1 %
|
Theatre
attendance
|
9,767
|
6,661
|
46.6 %
|
Net loss
(ii)
|
$(30,173)
|
$(42,225)
|
-28.5 %
|
Net loss as a
percentage of sales (ii)
|
(8.8) %
|
(18.5) %
|
9.7 %
|
Cash provided by (used
in) operating activities
|
$3,135
|
$(5,437)
|
NM
|
Box office revenues per
patron ("BPP") (iii)
|
$12.63
|
$12.00
|
5.3 %
|
Concession revenues per
patron ("CPP") (iii)
|
$8.85
|
$8.82
|
0.3 %
|
Adjusted EBITDA
(iii)
|
$62,765
|
$36,475
|
72.1 %
|
Adjusted EBITDAaL (ii)
(iii)
|
$20,243
|
$(5,719)
|
NM
|
Adjusted EBITDAaL
margin (ii) (iii)
|
5.9 %
|
(2.5) %
|
8.4 %
|
Adjusted free cash flow
(iii)
|
$1,626
|
$(21,745)
|
NM
|
Adjusted free cash flow
per share (iii)
|
$0.026
|
$(0.343)
|
NM
|
Net loss per share -
basic and diluted (ii)
|
$(0.48)
|
$(0.67)
|
-28.4 %
|
i.
|
Period over period
change calculated based on thousands of dollars except percentage
and per share values. Changes in percentage amounts are calculated
as 2023 value less 2022 value.
|
ii.
|
2023 includes expenses
related to the Cineworld transaction and associated litigation and
claims recovery in the amount of $0.9 million (2022 - $0.3
million).
|
iii.
|
Adjusted EBITDA,
adjusted EBITDAaL, adjusted EBITDAaL margin, adjusted free cash
flow per common share of Cineplex, BPP and CPP are measures that do
not have a standardized meaning under generally accepted accounting
principles ("GAAP"). These measures as well as other Non-GAAP
other financial measures reported by Cineplex are defined in the
'Non-GAAP and Other Financial Measures' section at the end of this
news release.
|
KEY DEVELOPMENTS IN 2023
The following describes certain key business initiatives
undertaken and results achieved during 2023 in each of Cineplex's
core business areas:
FILM ENTERTAINMENT AND CONTENT
Theatre Exhibition
- Reported first quarter box office revenues of $123.3 million, an increase of $43.4 million (54.3%) from $80.0 million due to a 46.6% increase in theatre
attendance as a result of Cineplex's theatre circuit being open
during the entire period, compared to the prior year where select
provinces were subject to operating restrictions.
- Reported a first quarter record BPP of $12.63, $0.63 or
5.3% higher than the $12.00 reported
during the prior year due to a higher percentage of premium ticket
sales in the current period as compared to the prior year.
Theatre Food Service
- Reported first quarter theatre food service revenues of
$86.4 million, an increase of
$27.7 million (47.1%) compared to the
prior year primarily due to a 46.6% increase in theatre
attendance.
- Reported first quarter record CPP of $8.85, an increase of $0.03 or 0.3% compared to the prior year, due to
product mix and modest price increases.
Alternative Programming and Distribution
- Entered into a theatrical distribution partnership with
Lionsgate on January 5, 2023, for its
2023 film slate, bringing 11 titles to Canadian audiences.
- As part of the theatrical distribution partnership with
Lionsgate, Cineplex's distribution business (Cineplex Pictures)
distributed PLANE on January 13,
2023, Jesus Revolution on February 24, 2023 and John Wick: Chapter 4 on March 24, 2023. Additionally, Cineplex Pictures
released a number of feature films during the quarter, including
Creed III and There's Always Hope.
- Featured numerous strong performing international films,
including Pathaan (Hindi), which became Cineplex's
number one Indian and international movie of all time. Cineplex
also featured other strong performing international films including
Kali Jotta (Punjabi), Tu Jhoothi Main Makkaar (Hindi)
and The Wandering Earth 2 (Chinese (Mandarin), of which
Cineplex represented 83%, 40% and 32%, respectively, of the total
North American box office market share.
- During the first quarter of 2023, Event Cinema featured two
major concert events, from K-Pop sensations BTS (BTS: Yet to
Come) and André Rieu (André Rieu in Dublin) and two live presentations of The
Metropolitan Opera, including Fedora (Giordano) and
Lohengrin (Wagner).
Digital Commerce
- Total registered users for Cineplex Store increased 4.0%
compared to the prior year, reaching approximately 2.3 million
registered users.
- Launched the Cineplex Store app on Android TV and Google TV
enabled devices.
- Expanded content offering including HBO's TV series, House
of the Dragon and The Last of Us and AMC TV series,
Better Call Saul and Lucky Hank.
- Celebrated Black History Month with a collection of films
available on the Cineplex Store where $1 from every purchase was donated to The Black
Academy, an organization that celebrates, empowers and showcases
Black Canadian talent.
MEDIA
- Reported first quarter media revenues of $22.3 million, an increase of $6.8 million or 43.4% as compared to the prior
year.
Cinema Media
- Reported first quarter cinema media revenues of $14.3 million, an increase of $6.0 million or 73.3% over the prior year
resulting in the return of advertisers to cinema in a variety of
sectors, including financial services and broadcast media.
Digital Place-Based Media
- Reported first quarter revenues of $8.0
million, an increase of $0.7
million or 9.7%.
AMUSEMENT SOLUTIONS AND LBE
- Reported all-time quarterly record revenues of $75.8 million, an increase of $25.3 million or 50.3% compared to the prior
year.
Player One Amusement Group
- Reported all-time quarterly record revenues of $49.6 million, an increase of $14.8 million or 42.4% compared to the prior
year. Adjusted EBITDAaL during the first quarter was a first
quarter record of $8.9 million, an
increase of $3.9 million or 77.9%
compared to the prior year. The increase in revenues and adjusted
EBITDAaL were primarily due to increases in P1AG amusement revenues
from US and Canada route locations
at FEC's and theatres, along with an increase in distribution
sales.
Location-based Entertainment
- Reported all-time quarterly record revenues of $35.1 million, an increase of $15.0 million or 75.0% compared to the prior
year.
- Reported all-time quarterly record adjusted store level
EBITDAaL of $12.1 million, an
increase of $5.1 million or 71.3%
compared to the prior year. The increase in revenues and adjusted
EBITDAaL were primarily due to all LBE venues being open during the
entire period, compared to the prior year where select provinces
were subject to operating restrictions.
LOYALTY
- Membership in the Scene+ loyalty program increased to over 12
million members as at March 31,
2023.
- Empire brands launched Scene+ in Quebec on March 23,
2023, providing members with opportunities to earn and
redeem Scene+ points through Empire's family of brands across the
country.
CORPORATE
- On March 28, 2023, Cineplex
entered into the Seventh Credit Agreement Amendment (the "Seventh
Amendment"), which revised certain of the financial covenants
throughout the remainder of 2023.
- Celebrated National Popcorn Day on January 19, 2023 by treating Scene+ members
across the country with a free bag of popcorn. Additionally,
theatre teams across Canada gifted
first responders with popcorn as a show of appreciation.
NON-GAAP AND OTHER FINANCIAL MEASURES
National Instrument 52-112, Non-GAAP and Other Financial
Measures Disclosure ("NI 52-112") imposes obligations
regarding disclosure of non-GAAP financial measures, non-GAAP
ratios, and other financial measures. Cineplex reports on certain
non-GAAP measures, non-GAAP ratios, supplementary financial
measures and total segment measures that are used by management to
evaluate Cineplex's performance. The following measures included in
this news release do not have a standardized meaning under GAAP and
may not be comparable to similar measures provided by other
issuers. Cineplex includes these measures because management
believes that they assist investors in assessing financial
performance. These non-GAAP and other financial measures are used
throughout this news release and are defined below.
NON-GAAP FINANCIAL MEASURES
Non-GAAP financial measures are defined in 52-112 as a financial
measure disclosed that (a) depicts the historical or expected
future financial performance, financial position or cash flow of an
entity, (b) with respect to its composition, excludes an amount
that is included in, or includes an amount that is excluded from,
the composition of the most directly comparable financial measure
disclosed in the primary financial statements of the entity, (c) is
not disclosed in the financial statements of the entity, and (d) is
not a ratio, fraction, percentage or similar representation.
NON-GAAP RATIO
A non-GAAP ratio is defined by 52-112 as a financial measure
disclosed that (a) is in the form of a ratio, fraction, percentage
or similar representation, (b) has a non-GAAP financial measure as
one or more of its components, and (c) is not disclosed in the
financial statements.
Below are non-GAAP financial measures or non-GAAP ratios that
are reported by Cineplex.
EBITDA, ADJUSTED EBITDA AND ADJUSTED EBITDAaL
Management defines EBITDA as earnings before interest income and
expense, income taxes and depreciation and amortization expense.
Adjusted EBITDA excludes the change in fair value of financial
instrument, loss on disposal of assets, foreign exchange, the
equity income of CDCP, and impairment, depreciation, amortization,
interest and taxes of Cineplex's other joint ventures and
associates. Adjusted EBITDAaL modifies adjusted EBITDA to deduct
current period cash rent paid or payable related to lease
obligations.
Subsequent to the adoption of IFRS 16, Leases, by
Cineplex effective January 1, 2019,
the calculation of EBITDA no longer includes a charge for amounts
paid or payable with respect to leased property and equipment.
Given the majority of Cineplex's businesses are carried on in
leased premises, Cineplex introduced the measure of adjusted
EBITDAaL which includes a deduction for cash rent paid/payable
related to lease obligations. Cineplex's management believes that
adjusted EBITDAaL is an important supplemental measure of
Cineplex's profitability at an operational level and provides
analysts and investors with comparability in evaluating and valuing
Cineplex's performance period over period. EBITDA, adjusted for
various unusual items, is also used to define certain financial
covenants in Cineplex's Credit Facilities. Management calculates
adjusted EBITDAaL margin by dividing adjusted EBITDAaL by total
revenues.
EBITDA, adjusted EBITDA and adjusted EBITDAaL are non-GAAP
measures generally used as an indicator of financial performance
and they should not be seen as a measure of liquidity or a
substitute for comparable metrics prepared in accordance with GAAP.
Cineplex's EBITDA, adjusted EBITDA and adjusted EBITDAaL may differ
from similar calculations as reported by other entities and
accordingly may not be comparable to EBITDA, adjusted EBITDA or
adjusted EBITDAaL as reported by other entities.
Reconciliation of reported net loss to adjusted
EBITDAaL
|
Three months ended
March 31,
|
|
2023
|
2022
|
|
|
|
Net
loss
|
$
(30,173)
|
$
(42,225)
|
|
|
|
Depreciation and
amortization - other
|
26,006
|
26,892
|
Depreciation -
right-of-use assets
|
22,199
|
24,263
|
Interest expense -
lease obligations
|
16,333
|
14,704
|
Interest expense -
other
|
23,506
|
10,083
|
Interest
income
|
(211)
|
(30)
|
Current income tax
expense (recovery)
|
1,615
|
(724)
|
Deferred income tax
expense
|
2,307
|
—
|
EBITDA
|
$
61,582
|
$
32,963
|
|
|
|
Loss on disposal of
assets
|
744
|
157
|
Loss on financial
instruments recorded at fair value
|
270
|
3,830
|
CDCP equity income
(i)
|
—
|
(854)
|
Foreign exchange
loss
|
14
|
234
|
Depreciation and
amortization - joint ventures and associates (ii)
|
142
|
131
|
Taxes and interest of
joint ventures and associates (ii)
|
13
|
14
|
Adjusted
EBITDA
|
$
62,765
|
$
36,475
|
|
|
|
Cash rent paid/payable
related to lease obligations
|
(43,723)
|
(43,353)
|
Cash rent paid not
pertaining to current period
|
1,201
|
1,159
|
Adjusted EBITDAaL
(iii)
|
$
20,243
|
$
(5,719)
|
(i)
|
CDCP equity income is
not included in adjusted EBITDA as CDCP is a limited-life financing
vehicle that is funded by virtual print fees collected from
distributors. On December 16, 2022, Cineplex divested its
investment in CDCP.
|
(ii)
|
Includes the joint
ventures with the exception of CDCP (see (i) above).
|
(iii)
|
See Non-GAAP and other
financial measures section of this news release.
|
Adjusted Free Cash Flow
Free cash flow is a non-GAAP measure generally used by Canadian
corporations as an indicator of financial performance and it should
not be viewed as a measure of liquidity or a substitute for
comparable metrics prepared in accordance with GAAP. Standardized
free cash flow adjusts the amount of cash from operating activities
to deduct capital expenditures net of proceeds on sale of assets in
ordinary business operations. Standardized free cash flow is a
non-GAAP measure recommended by the CICA in its 2008 interpretive
release, Improved Communication with Non-GAAP Financial
Measures: General Principles and Guidance for Reporting EBITDA and
Free Cash Flow, and is designed to enhance comparability.
Adjusted free cash flow is also a non-GAAP measure used by Cineplex
to modify standardized free cash flow to exclude certain cash flow
activities and to measure the amount available for activities such
as repayment of debt, dividends to owners and investments in future
growth through acquisitions. Adjusted free cash flow includes
repayments of lease obligations that represented the principal
portion of rent expenses that were included in net income
calculation prior to the adoption of accounting standard IFRS 16,
Leases, by Cineplex. Given that the materiality of the
principal portion of the rent expenses and comparability of
adjusted free cash flow disclosure for comparative periods,
adjusted free cash flow also adjusts standard free cash flow to
deduct principal amount of repayment of lease obligation.
Cineplex presents standardized free cash flow and adjusted free
cash flow per share because they are key measures used by investors
to value and assess Cineplex. Cineplex's management defines
adjusted free cash flow as standardized free cash flow adjusted for
certain items, and considers adjusted free cash flow the amount
available for distribution to shareholders. Standardized free cash
flow is defined by the CICA as cash from operating activities as
reported in the GAAP financial statements, less total capital
expenditures minus proceeds from the disposition of capital assets
other than those of discontinued operations, as reported in the
GAAP financial statements; and dividends, when stipulated, unless
deducted in arriving at cash flows from operating activities. The
standardized free cash flow calculation excludes common dividends
and others that are declared at the Board's discretion.
Reconciliation of reported cash used in operating activities
to adjusted free cash flow per share
|
Three months ended
March 31,
|
|
2023
|
2022
|
Cash used in
operating activities
|
$
3,135
|
$
(5,437)
|
Less: Total capital
expenditures net of proceeds on sale of assets
|
(16,485)
|
(9,585)
|
|
|
|
Standardized free cash
flow
|
(13,350)
|
(15,022)
|
|
|
|
Add/(Less):
|
|
|
Changes in operating
assets and liabilities (i)
|
28,998
|
15,077
|
Changes in operating
assets and liabilities of joint ventures and associates
(i)
|
754
|
(707)
|
Repayments of lease
obligations - principal
|
(27,532)
|
(29,267)
|
Principal portion of
cash rent paid not pertaining to current period
|
1,201
|
1,143
|
Growth capital
expenditures and other (ii)
|
12,819
|
7,054
|
Share of income of
joint ventures and associates, net of non-cash
depreciation
|
(1,264)
|
(23)
|
Adjusted free cash
flow
|
$
1,626
|
$
(21,745)
|
Average number of
shares outstanding
|
63,375,471
|
63,346,444
|
Adjusted free cash
flow per share
|
$
0.026
|
$
(0.343)
|
(i)
|
Changes in operating
assets and liabilities are not considered a source or use of
adjusted free cash flow. Refer to Note 25 of Cineplex's 2022 Annual
Consolidated Financial Statements for further details.
|
(ii)
|
Growth capital
expenditures and other represent expenditures on Board approved
projects, exclude maintenance capital expenditures and are net of
proceeds on asset sales. The Revolving Facility is available to
Cineplex to fund Board approved projects.
|
SUPPLEMENTARY FINANCIAL MEASURES
Supplementary financial measures are financial measures that are
not (a) presented in the financial statements and (b) is, or is
intended to be, disclosed periodically to depict the historical or
expected future financial performance, financial position or cash
flow, that is not a non-GAAP financial measure or a non-GAAP ratio
as defined in the instrument. Below are supplementary financial
measures that Cineplex uses to depict its financial performance,
financial position or cash flows.
Loss per Share Metrics
Cineplex has presented basic
and diluted loss per share net of this item to provide a more
comparable loss per share metric between the current periods and
prior year periods. In the non-GAAP and other financial measure,
earnings is defined as net income or net loss attributable to
Cineplex excluding the change in fair value of financial
instruments.
Per Patron Revenue Metrics
Cineplex reviews per patron
metrics as they relate to box office revenue and theatre food
service revenue such as BPP, CPP, BPP excluding premium priced
product, and concession margin per patron, as these are key
measures used by investors to value and assess Cineplex's
performance, and are widely used in the theatre exhibition
industry. Management of Cineplex defines these metrics as
follows:
Theatre Attendance: Theatre attendance is calculated as
the total number of paying patrons that frequent Cineplex's
theatres during the period.
BPP: Calculated as total box office revenues divided
by total paid theatre attendance for the period.
BPP excluding premium priced product: Calculated as total
box office revenues for the period, less box office revenues from
3D, 4DX, UltraAVX, VIP ScreenX and IMAX product; divided by total
paid theatre attendance for the period, less paid theatre
attendance for 3D, 4DX, UltraAVX, VIP, ScreenX and IMAX
product.
CPP: Calculated as total theatre food service
revenues divided by total paid total theatre attendance for the
period.
Premium priced product: Defined as 3D, 4DX,
UltraAVX, IMAX, ScreenX and VIP film product.
Theatre concession margin per patron: Calculated as total
theatre food service revenues less total theatre food service cost,
divided by theatre attendance for the period.
Same Theatre Analysis
Cineplex reviews and reports
same theatre metrics relating to box office revenues, theatre food
service revenues, theatre rent expense and theatre payroll expense,
as these measures are widely used in the theatre exhibition
industry as well as other retail industries.
Same theatre metrics are calculated by removing the results for
all theatres that have been opened, acquired, closed or otherwise
disposed of subsequent to the start of the prior year comparative
period. For the three months ended March 31,
2023 the impact of one location that has been opened or
acquired and four locations that have been closed or otherwise
disposed of have been excluded, resulting in 152 theatres being
included in the same theatre metrics.
Cost of sales percentages
Cineplex reviews and reports
cost of sales percentages for its two largest revenue sources, box
office revenues and food service revenues as these measures are
widely used in the theatre exhibition industry. These measures are
reported as film cost percentage and concession cost percentage,
respectively, and are calculated as follows:
Film cost percentage: Calculated as total film cost
expense divided by total box office revenues for the period.
Theatre concession cost percentage: Calculated as total
theatre food service costs divided by total theatre food service
revenues for the period.
LBE food cost percentage: Calculated as total LBE food
costs divided by total LBE food service revenues for the
period.
Certain information included in this news release contains
forward-looking statements within the meaning of applicable
securities laws. These forward-looking statements include, among
others, statements with respect to Cineplex's objectives and goals,
and strategies to achieve those objectives and goals, as well as
statements with respect to Cineplex's beliefs, plans, objectives,
expectations, anticipations, estimates and intentions. The words
"may", "will", "could", "should", "would", "suspect", "outlook",
"believe", "plan", "anticipate", "estimate", "expect", "intend",
"forecast", "objective" and "continue" (or the negative thereof),
and words and expressions of similar import, are intended to
identify forward-looking statements.
By their very nature, forward-looking statements involve
inherent risks and uncertainties, including those described in
Cineplex's Annual Information Form ("AIF"), and the management's
discussion and analysis for the year ended December 31, 2022 ("Annual MD&A") and in this
news release. These risks and uncertainties, both general and
specific, give rise to the possibility that predictions, forecasts,
projections and other forward-looking statements will not be
achieved. Certain material factors or assumptions are applied in
making forward-looking statements and actual results may differ
materially from those expressed or implied in such statements.
Cineplex cautions readers not to place undue reliance on these
statements, as a number of important factors, many of which are
beyond Cineplex's control, could cause actual results to differ
materially from the beliefs, plans, objectives, expectations,
anticipations, estimates and intentions expressed in such
forward-looking statements, including: Cineplex's expectations with
respect to liquidity and capital expenditures; its ability to meet
its ongoing capital, operating and other obligations, and
anticipated needs for, and sources of,
funds; Cineplex's ability to execute cost-cutting
and revenue enhancement initiatives; risks generally
encountered in the relevant industry, competition, customer, legal,
taxation and accounting matters.
The foregoing list of factors that may affect future results
is not exhaustive. When reviewing Cineplex's forward-looking
statements, readers should carefully consider the foregoing factors
and other uncertainties and potential events. Additional
information about factors that may cause actual results to differ
materially from expectations and about material factors or
assumptions applied in making forward-looking statements may be
found in the "Risks and Uncertainties" section of Cineplex's Annual
MD&A.
Cineplex does not undertake to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by applicable
Canadian securities law. Additionally, Cineplex undertakes no
obligation to comment on analyses, expectations or statements made
by third parties in respect of Cineplex, its financial or operating
results or its securities. All forward-looking statements in this
news release are made as of the date hereof and are qualified by
these cautionary statements. Additional information, including
Cineplex's AIF, can be found on SEDAR at www.sedar.com.
You are cordially invited to participate in a conference call
with the management of Cineplex (TSX: CGX) to review our first
quarter. Ellis Jacob, President
and Chief Executive Officer and Gord Nelson, Chief Financial
Officer, will host the call scheduled for:
Cineplex Inc. Q1 2023 Earnings Webcast:
Date:
Friday, May 12, 2023
Time:
10:00 a.m. Eastern
Daylight Time
Audio Webcast: Audience URL
https://events.q4inc.com/attendee/946554895
Pre-registration
available.
An archive of the
webcast will be available at https://corp.cineplex.com/investors
after the webcast for a limited time.
Please note, analysts who cover the Company, should use the
dial-in option to participate in the live question period:
1-226-828-7575 (Local) or 1-833-950-0062 (Canada Toll-free),
access code 918414.
All attendees should join the event 5-10 minutes prior to the
scheduled start time. Media are welcome to join the call in
listen-only mode.
About Cineplex
Cineplex (TSX:CGX) is a top-tier Canadian brand that operates in
the Film Entertainment and Content, Amusement and Leisure, and
Media sectors. Cineplex offers a unique escape from the everyday to
millions of guests through its circuit of over 170 movie theatres
and location-based entertainment venues. In addition to being
Canada's largest and most
innovative film exhibitor, the company operates Canada's favourite destination for 'Eats &
Entertainment' (The Rec Room), complexes specially designed for
teens and families (Playdium), and a newly launched entertainment
concept that brings movies, amusement gaming, dining, and live
performances together under one roof (Cineplex Junxion). It also
operates successful businesses in digital commerce
(CineplexStore.com), alternative programming (Cineplex Events),
motion picture distribution (Cineplex Pictures), cinema media
(Cineplex Media), digital place-based media (Cineplex Digital
Media) and amusement solutions (Player One Amusement Group).
Providing even more value for its guests, Cineplex is a partner in
Scene+, Canada's largest
entertainment and lifestyle loyalty program.
Proudly recognized as having one of the country's Most Admired
Corporate Cultures, Cineplex employs over 10,000 people in its
offices and venues across Canada
and the United States. To learn
more, visit Cineplex.com.
SOURCE Cineplex