London, 23 July 2019 - Vue International, one of the world’s leading cinema operators, today announces results for the three months to 31 May 2019.
Higher market admissions and growth in market share in this quarter was driven by strong market performance and strategic initiatives delivering across the major territories. Turnover of £204.8m in Q2 2019 was a 17.1% increase on Q2 2018, delivering EBITDA of £29.5m, 78.1% higher than Q2 2018.
Performance Highlights:
- Revenue 17.1% higher than Q2 2018 at £204.8m
- EBITDA 78.1% higher than Q2 2018 at £29.5m
- LTM EBITDA increased to £125.5m with net leverage at 4.8x, in line with previous guidance
- Vue total admissions up by 21.5% in Q2 2019 to 22.8m
- Exceptionally strong film slate including Avengers: Endgame, Captain Marvel, Dumbo, Aladdin, supported by key local titles notably in Poland
- Cinema 3D acquisition in Poland successfully completed with integration progressing well
Tim Richards, Founder and CEO, commented:
“Every major territory has delivered growth in every revenue stream in this quarter, reflecting a strong film slate and the benefits from various strategic growth initiatives. These initiatives include enhancements in Digital and CVM activity, automated scheduling and software improvements, investment in our estate, new site openings, recliner seating roll-outs and large scale refurbishments.
I am delighted to see, as predicted, recovery of the German and Italian markets, and steady growth in the Netherlands and Poland. Vue’s broad content offering, ranging from local films, Hollywood tent poles and event cinema, delivered in a premium environment, makes us exceptionally well positioned to continue growing the business and executing our ambitious international plans.”
Ends
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Laura Buchanan / Dan Roberts