Vue International (“Vue”), one of the world’s leading cinema operators, today announces its third quarter results for the 13 weeks ended 25 August 2016.
• Turnover up 8.7% to £173.7m (2015: £159.8m )
• Q3 LTM EBITDA £137.5m, in line with Q2 of £138.0m
• Over £100m EBITDA delivered Year to Date
Vue International has delivered a solid performance in the third quarter of 2016, continuing the strong momentum from the first half and delivery of our growth initiatives, with key financial metrics up. LTM EBITDA, a key benchmark, was at £137.5m at the end of Q3 in line with the second quarter (£138.0m) and now exceeds £100m for the Year to Date. Turnover was up 8.7% to £173.7m and group leverage remained stable at 4.3x on a constant currency basis.
Tim Richards, Vue’s Founder and CEO, commented:
“We are pleased with our performance in Q3 2016, continuing the momentum from the first half with improved performance across all key metrics. We remain focussed on the delivery of our market leading initiatives as we continue to grow our international cinema group.”
The management team at Vue have a wide range of key cross-territory initiatives including luxury seating, new screen installation programmes, dynamic pricing, digital and CVM development, scheduling technologies and operating efficiencies.
With strong momentum continuing into the second half of the year Q3 has delivered a solid EBITDA performance.
Notes to Editors
Brian Buckley / Rosheeka Field
Brunswick Group LLP
Telephone: 0207 404 5959
Lucy Northmore, Group PR Manager
About Vue International
Vue International is one of the world's leading cinema operators, managing the most respected brands in major European markets and Taiwan, spanning ten countries, 211 sites and 1,875 screens. The group has leading positions in the United Kingdom, Ireland, Germany, Italy, Poland, Denmark, Latvia, Lithuania and Taiwan. From its inception in May 2003 Vue International has grown organically and through strategic acquisition to deliver a premium out-of-home entertainment experience by combining the best content, with the best technology in the best environment.