London, February 14, 2018 - Vue International, one of the world’s leading cinema operators, today announces results for the three months to 30 November 2018.
Very strong Q4 2018 with growth in market share, turnover, consolidated EBITDA and consolidated EBITDA margin with delivery of an increase of £3.5m in LTM EBITDA to £122.0m.
Ongoing success across all growth initiatives with strategies across pricing, scheduling, seating, content, digital and CVM showing positive results.
- LTM EBITDA increased to £122.0m with leverage reduced to 5.2x
- Admissions growth of 6.2%, despite overall market reduction of 3%
- Sales per person up 2.2% YTD across the international estate
- Record year for cinema in the UK and Poland
- UK Market Admissions in Q4 2018 4.4% higher than Q4 2017
- Market admissions for major territories up 2.6% from Q4 2017
- Major refurbishments in Poland and Netherlands
- Further investment in operating and scheduling systems
- Showtime Cinemas in the Republic of Ireland fully integrated
- Significant deals agreed to acquire Cinema 3D Circuit in Poland and CineStar circuit in Germany
Tim Richards, Vue’s Founder and CEO, commented:
“Vue’s fourth quarter saw very strong growth and was in line with expectations. In the UK, Poland and Netherlands we saw an increase in market admissions and in particular significant primary market growth in the UK from our growth initiatives.
We had a very successful year for M&A. Vue’s biggest acquisition to date of the CineStar circuit in Germany is expected to complete this summer, Cinema 3D in Poland is expected to complete in March 2019, and Showtime in the Republic of Ireland completed in July 2018.
The outlook remains positive with standout Hollywood titles in the coming months, including a combination of popular franchise sequels, highly anticipated original content and exciting remakes of classic movies.
We remain well positioned to continue developing the business and optimise the diversity of our estate, customer and content offering for long term success.”
Brunswick Group LLP
+44 207 404 5959