Vue International, one of the world’s leading cinema operators with 1,904 screens across ten countries, today announces results for the three months to 28 February 2018, showing a good performance across the diverse portfolio, with significant progress in our international expansion, and announcing a five-year record for UK admissions.
Performance Highlights:
- Highest UK admissions for five years and the third highest group quarter ever
- Turnover up 4.1% to £246.3m, LTM EBITDA £125.7m
- Increased SPP following continued investment in concession offerings
- Expansion into Saudi Arabia
- Major refurbishments completed in Poland and the Netherlands
- Two additional screens added in the Netherlands
- Luxury seating rolled out in Basingstoke and Edinburgh
- Completion of the roll out of VISTA in Italy
- New digital advertising in Poland
- Strong slate for rest of FY18 including Avengers: Infinity War¸ Mama Mia! Here We Go Again and the latest JK Rowling film, The Crimes of Grindelwald
Tim Richards, Vue’s Founder and CEO, commented:
“Our UK business had the highest admissions for five years, a testament to the enduring appeal of big screen entertainment, and our premium offering, as customers enjoyed blockbuster hits including Star Wars: The Last Jedi, and The Greatest Showman.
We continue to seek opportunities for international expansion in high growth markets, and are now expanding into Saudi Arabia. We are excited to enter this country, with a young and growing population, and the opportunity to build a new age of entertainment.
Vue’s strategy is to create a best-in-class cinema experience and investment in our estate continued apace including new screens, luxury refurbishments and premium seating at sites in Poland, the Netherlands, and the UK.
We remain positive about the outlook for Vue; our geographic diversification and sector-leading estate mean the company is well positioned to take advantage of a strong slate for 2018.”
Ends.