Kinepolis Posts Record Results As Premiumization Of Offering Pays-off; Net Profit Doubles To $60M Amid 20.6% Hike In Visitors
deadline.comThe Kinepolis Group – which operates 109 cinemas worldwide with 1,131 screens and more than 200,000 seats – has posted record results for 2023.
The Belgium-based international exhibitor said it had achieved its highest ever revenue, thanks to a 20.6% hike in visitors to 35.3M, adding that the results were a sign that it had “completely recovered” from the impact of the Covid-19 pandemic.
Revenue increased by 21.1% to $657M (€605.5M), with EBITDAL increasing by 32.8% to $164M (€151.4M). Net profit doubled to $60.8M (€56.1M).
Within the overall revenue figure, there had been a 22.1% increase in box office returns to $372M (€318.6M) and a 24.2% increase in revenue from sale of drinks and snacksto $225M (€192.8M), as a result of higher consumption per visitor and inflation-compensating price increases in almost all the countries.The exhibitor said that alongside the increase in admissions, its performance had also been boosted by higher spending per visitor, as a result of its investment in premium concepts and film experiences.
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