Strong performance across Europe delivering Vue’s second biggest ever quarterly earnings of £56.3m driven by a strong film pipeline together with some exciting new initiatives for 2017.
London, April 25, 2017 - Vue International, one of the world’s leading cinema operators with 1880 screens across ten countries, today announces results for the three months to 28 February 2017.
Performance Highlights:
- Turnover of £236.6m
- Revenue per head, up 7.1% compared to Q1 2016
- EBITDA of £56.3m, Vue’s second strongest quarter ever
- Successful “Buy and Build” strategy continues with recent agreement with AMC to take over the iconic 20 screen Printworks site in Manchester
- £6.6m refurbishment of the Vue West End flagship site in Leicester Square site due to complete on time and on budget in June
- Continued investment in the digital and physical estate with IMAX installation, additional screens, seating upgrades, and site refurbishments across key European sites
- Strong start to 2017, with exciting slate for the rest of the year including Guardians of the Galaxy 2, Alien:Covenant and Spider-Man
Tim Richards, Vue’s Founder and CEO, commented:
“Consumers continue to love seeing films on a big screen, and the exciting and varied slate means cinemas are appealing to a wider demographic than ever; from families flocking to Beauty and the Beast to the buzz around Alien:Covenant, films are an important and exciting part of the out of home entertainment business.
Vue’s strong performance in the quarter, the second strongest quarter in the company’s history, reflects our commitment to investing in and creating the highest quality estate with the best experience for all cinema-goers. We continue to develop our estate and over the quarter we’ve agreed to take over the iconic Printworks site in Manchester from AMC, introduced a radically different new Gen2 retail concept in the UK, installed a new IMAX screen in Denmark and have continued with our seating upgrades in Italy and Poland.
Looking forward, we remain focused on delivering our strategy to build a leading global cinema group, and are excited about the pipeline of films for 2017 and beyond.”
-Ends-
Media enquiries
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Lucy Northmore, Group PR Manager, Vue
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