Cineworld Group plc Trading Statement (0652C)
17 January 2018 - 6:00PM
UK Regulatory
TIDMCINE
RNS Number : 0652C
Cineworld Group plc
17 January 2018
FOR IMMEDIATE RELEASE
17 January 2018
CINEWORLD GROUP PLC
Trading update for the year ended 31 December 2017 - Revenue
growth of 11.6% achieved.
Revenue movements for the year were as follows:
Actual Constant Currency
--------------- ------------------------------ ------------------------------
Group UK & Ireland ROW(1) Group UK & Ireland ROW(1)
--------------- ------ ------------- ------- ------ ------------- -------
Total revenue 11.6% 5.9% 20.8% 7.9% 5.9% 10.9%
--------------- ------ ------------- ------- ------ ------------- -------
Box Office 10.3% 6.3% 17.7% 6.9% 6.3% 8.0%
--------------- ------ ------------- ------- ------ ------------- -------
Retail 15.6% 7.1% 29.2% 11.8% 7.1% 18.8%
--------------- ------ ------------- ------- ------ ------------- -------
Other Income 10.3% 1.1% 19.3% 5.8% 1.1% 10.1%
--------------- ------ ------------- ------- ------ ------------- -------
(1) ROW is defined as Rest of the World and includes Poland,
Hungary, Israel, Romania, Czech Republic, Bulgaria and
Slovakia.
Admissions in both the UK & Ireland and the ROW increased
compared with the prior year. Growth has been driven by the
expansion of our estate, the improved results from the ongoing
refurbishment programme and the continued roll-out of our premium
formats. The highest grossing films for the year in the UK were
"Beauty and the Beast", "Star Wars: The Last Jedi" and "Dunkirk".
Locally produced films continued to perform well across the ROW,
especially in Poland where "Listy Do Movie 3" and "Botoks" were the
top performing films for the year.
Retail revenue showed strong growth of 15.6% (11.8% constant
currency), particularly in the ROW with growth of 29.2% (18.8%
constant currency). Retail revenue is a function of admissions,
economic and spending trends in each local market and was
positively impacted by the expansion of the Group's retail
offerings. The Group opened five Starbucks sites and three VIP
sites in 2017 bringing the total to 29 Starbucks sites and 12 VIP
sites at 31 December 2017. For the Group, Other Income growth has
primarily been driven by the ROW, with growth in both the
advertising and distribution income streams.
The Group made significant progress with its expansion and
refurbishment programme. At the end of 2017 the Group operated 232
sites with 2,217 screens. This includes nine sites (110 screens)
opened during 2017, four in the UK and five in the ROW, as well as
the Empire Newcastle site (16 screens) acquired in June 2017. The
Group proactively managed the existing estate through its
refurbishment and selective site closure programme. During the year
four refurbishments were completed in the UK, (Hemel Hempstead,
Ipswich, Northampton and Solihull) and two in Poland (Arkadia and
Mokotow). There are number of sites currently under refurbishment
including at Leicester Square and The O2 in London. Four of the
Group's smaller sites were closed during the year, three in the UK
and one in Hungary.
The Group continued with its strategy to invest in technology
and be leaders in the industry, with 11 4DX screens, 2 Superscreens
and 2 IMAX screens opened during the year. At the end of 2017 the
Group had a total of 38 4DX screens, 35 IMAX screens and 11
Superscreens.
There is a strong film slate for 2018 which includes "Jurassic
World: Fallen Kingdom", "Fantastic Beasts: The Crimes of
Grindelwald", "Avengers: Infinity War", "The Incredibles 2", "Mamma
Mia! Here We Go Again" "Solo: A Star Wars Story", "Deadpool 2",
"Fifty Shades Freed" and "Mary Poppins Returns".
After a successful outcome in 2017 the Group is positioned well
for another year of progress in 2018.
Contacts
Cineworld Group Powerscourt:
plc:
Israel Greidinger 020 8987 5000 Rob Greening +44 (0)20 7250 1446
Nisan Cohen 020 8987 5000 Nick Dibden cineworld@powerscourt-group.com
Lisa Kavanagh
Notes to editors
About Cineworld Group plc
Cineworld Group plc was founded in 1995 and listed its shares on
the London Stock Exchange in May 2007.
The company has grown through expansion and by acquisition to
become one of the leading cinema groups in Europe with the number
one or number two position by number of screens in each of its
regions. Cineworld currently operates 2,217 screens across 232
sites in the UK, Ireland, Poland, the Czech Republic, Slovakia,
Hungary, Bulgaria, Romania and Israel.
The person responsible for this announcement is Fiona Smith,
Company Secretary of Cineworld.
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTBIGDBGUBBGIL
(END) Dow Jones Newswires
January 17, 2018 02:00 ET (07:00 GMT)
Cineworld (LSE:CINE)
Historical Stock Chart
From Apr 2024 to May 2024
Cineworld (LSE:CINE)
Historical Stock Chart
From May 2023 to May 2024