Vue International, one of the world’s leading cinema operators with 1,902 screens across ten countries, today announces results for the three months to 30 November 2017, showing a solid performance across a diverse portfolio and record turnover for the full year.
Full Year Performance Highlights:
- Highest ever reported annual Turnover of £789.9m
- Strong liquidity, full year EBITDA of £128.1m and net leverage of 4.9x in constant currency
- SPP up 5.1% with continued growth across all territories, driven by new products, initiatives and merchandise
- Continued investment in existing and new sites globally, including two new sites in the UK (Bedford and Manchester) and large scale West End redevelopment and new screens in the Netherlands
- Further roll-out of recliner and VIP seating across territories including UK, Italy, Germany, Poland
- Automated Film Scheduling software fully rolled out across the UK and Ireland circuits with an alternative software solution successfully trialled at CinemaxX
- Next Generation Retail launched in the UK
- Appointed Adam Crozier as Chairman
- Slate highlights include Star Wars: Rogue One, Despicable Me 3, Fast And Furious 8, Beauty & The Beast, La La Land and It
Tim Richards, Vue’s Founder and CEO, commented:
“Vue’s record turnover for the full year is testament to our strategy and continued focus on building and creating value as we expand the business.
We continue to invest in our international estate, in the form of new sites, new screens and luxury refurbishments to create a best-in-class cinema experience.
Cinema has been an exciting form of out of home entertainment for over 100 years and our performance is a testament to the industry’s continuing growth and resilience.
A strong slate for 2018 and Vue’s own strategic initiatives underpin our confidence as we look ahead”.
Ends.
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Laura Buchanan / Rosheeka Field