Press Releases
Cinema City Sun Plaza opens in Bucharest, Romania
18.06.2010Second megaplex in Bucharest opened
Today Cinema City International, N.V. (WSI:CCI) (“CCI”) opens its second megaplex in Bucharest in the Sun Plaza shopping centre. The cinema has 15 screens and 2 934 seats and it’s equipped with 4 digital projectors. Following this opening Cinema City in Romania operates 7 cinemas with 72 screens in 6 cities.
Cinema City financial results through 1st quarter of 2010
18.05.2010Theatre operations boosted by 3D and excellent attendance
Full financial statement is available on the Company’s website www.cinemacity.nl
- In the 1st quarter of 2010, Cinema City International N.V. (“Cinema City”) generated revenues of EUR 70.1 million (+6.4% y/y), EBITDA of EUR 20.3 million (+32.0%) and net profit of EUR 12.5 million (+29.8%). Record financial results are coming from theatre operations.
- Theatre operations noted 60.6% increase in revenues to EUR 64.4 million and EBITDA of EUR 20.3 million ((+103.8% y/y). Cinema City sold 9.3 million tickets (+34.9 y/y) in the entire chain and 8.2 million tickets in the like-for-like terms (+19.3% y/y). Average ticket price went up to EUR 4.94 (+27.9%) as a result of increasing number of tickets sold for 3D format movies and appreciation of CEE local currencies vs euro.
- International blockbusters in 3D format, such as: Avatar or Alice in Wonderland among others, strongly contributed to CCI’s theatre performance.
- At the end of the quarter Cinema City was operating 68 theatres with 664 screens (+12% y/y). The Company has closed one small cinema in Israel with 4 screens. Cinema City has 42 binding lease agreements for additional 426 screens.
- Digitalization progresses. At the end of March there were installed 155 digital projectors in all countries of operations and another 80 is already ordered to be installed in the coming months. In 1Q investments in the cinema circuit development totaled EUR 5.9 million.
- On 21 April 2010 the Company sold all of its real estate development and related activities in Bulgaria to Israel Theatres Ltd., its controlling shareholder for Euro 91.2 million. The Company intends to use the proceeds to fund the expansion of movie theatre activities. Following the transaction the debt of Cinema City was reduced significantly.
Cinema City closes transaction of sale of its Bulgarian real estate business to Israel Theatres Ltd,
22.04.2010Cinema City International, N.V. (WSI:CCI) (“CCI”) announced today that it has signed an agreement with Israel Theatres Real Estate Holding B.V. and Pan-Europe Finance B.V. (both subsidiaries of Israel Theaters Ltd. ("IT")) to sell all its real estate development activity for EUR 91.2 million and the Parties closed the transaction. The initial payment of EUR 76.2 million was already made to Cinema City.
read moreSummary of the Consolidated Financial Information for the year 2009
15.03.2010 read moreCinema City ranked second in the main ranking of Puls Biznesu Stock Exchange Company of the Year 2009
10.03.2010Cinema City International, N.V. has been ranked the second in the main ranking “Stock Exchange Company of the Year 2009” composed for 11th time by Pentor Research International for the Puls Biznesu journal. The Company has taken the first place in the category Quality of Product and Services and the third place in the category Success in 2009.
read moreCinema City sells its Bulgarian real estate business to Israel Theatres Ltd,
03.03.2010Cinema City International, N.V. (WSI:CCI) (“CCI”) announced today that it has agreed in principle with Israel Theatres Ltd. ("Israel Theatres"), its controlling shareholder, to sell all of its real estate development and related activities in Bulgaria to Israel Theatres for approximately Euro 85 million.
read moreForum Film Romania to become the new Disney distributer in Romania (26 February 2010)
26.02.2010It was announced yesterday that Forum Film Romania will become the new Disney theatrical distributer. Forum Film Romania, just being established, is an affiliate of Cinema City International group, and Romania will become the fifth territory for the group to be the Disney distributer.
read moreToday we are opening Cinema City Bonarka in Cracow, the largest Cinema City in Poland
26.11.2009Cinema City International N.V. (“Cinema City”) is opening today its megaplex Cinema City Bonarka in Cracow, Poland. This cinema has 20 screens including 3 VIP halls with a total of 3 275 seats. There are four digital projectors installed. Cinema City is now operating in Poland 28 cinemas with 316 screens and 5 IMAX theatres.
read moreCinema City signs three lease agreements with Plaza Centers in Poland
23.11.2009Cinema City will add 3 new projects in Poland.
Cinema City International N.V. (“Cinema City”) signed lease agreements with Plaza Centers to operate multiplexes in Łódź, Kielce and Toruń with a total of 30 screens. Following the signature of these agreements in 2012 Cinema City will operate in Poland close to 400 screens in 36 cinemas.
Cinema City Cotroceni megaplex opens in Bucharest
23.11.2009Samsung sponsors the first IMAX® in Romania
Cinema City opened its largest cinema in Romania: Cinema City Cotroceni in Bucharest. This cinema has 21 screens including the only IMAX theatre in Romania. The Company installed 4 digital projectors - all with function allowing 3D shows. The IMAX theatre is sponsored by Samsung.