London, 21 October 2019 - Vue International, one of the world’s leading cinema operators, today announces its financial results for the three months ending 31 August 2019.
In the third quarter 2019, Vue saw a significant increase in market admissions in all territories, including double digit admissions growth for the quarter in Germany, Netherlands, Italy, and Poland. Market share in all major territories also increased driven by the successful delivery of growth initiatives across the estate.
Turnover in Q3 2019 grew by 18.5% (on a constant currency basis) to £209.6m compared to the same quarter last year, and Q3 EBITDA increased by 82.7% to £29.6m compared to last year. Overall YTD EBITDA reached £104.4m, a 17.6% increase year on year, and net leverage is now at 4.4x at the end of the quarter, down from 5.0x in Q2.
- Group Turnover grew significantly by 18.5% to £209.6m on 23.5m admissions in Q3 2019
- Q3 2019 EBITDA of £29.6m, 82.7% higher than Q3 2018
- Strong market performance across all five major territories in Q3 2019 against prior year, notably Germany, Italy and The Netherlands
- German market admissions up 25.5% and market GBOR up 26.4% in Q3 2019
- Market admissions in Italy up 39.3% compared to Q3 2018
- Market admissions in the Netherlands 21.5% higher in Q3 2019 than Q3 2018
- Net leverage down to 4.5x at Q3, down from 5.0x at Q2 2019 on a constant currency basis
- Total Vue admissions up 19.6% from 19.7m in Q3 2018 to 23.5m in Q3 2019
Tim Richards, Founder and CEO, commented:
“As predicted we have seen continued growth across all of our major markets. The 2019 UK Box Office for this period was confirmed as the highest grossing summer of all time beating the 2018 record. The Summer months have set a solid foundation and as we enter our busiest period ahead 2019 could well surpass the record-breaking year set in 2018.
A strong and diverse slate and our advanced scheduling technology alongside our investment strategy and growth initiatives are delivering well. We are well positioned for the box office momentum to continue as expected for the rest of 2019, with major releases such as Star Wars: The Rise of Skywalker, Cats and Frozen II still yet to come.”
Brunswick Group LLP
+44 207 404 5959
Laura Buchanan / Dan Roberts