Press Releases
Cinema City expands in Poland (26 September 2008)
26.09.2008 read moreCinema City signs lease for its 30th multiplex in Romania in the city of Sibiu. (26 September 2008)
26.09.2008Cinema City International N.V. (“Cinema City”) will open a multiplex in the Romanian city of Sibiu. It is Cinema City’s 30th project in Romania. In the coming years Romania will be the second largest market of operations for Cinema City. The current investment pipeline provides for opening of additional 285 screens in the country.
read moreCinema City financial results in the 1st half of 2008
14.08.2008Clear growth in sales and profit
- Through the 1st half of 2008, Cinema City International N.V. (“Cinema City”) earned revenues of EUR 92 million (growth of 14.6% over the same period in 2007), EBITDA of EUR 21.9 million (growth of 21.4%) and net profit of EUR 10.6 million (growth of 12.5%).
- In the 2nd quarter alone, revenues were EUR 47.1 million (an increase of 11.9%), EBITDA was EUR 12.5 million (up 26.9%), and net profit was EUR 6.6 million (up 17.3%).
- Revenue from cinema operations grew by 22.1%, to EUR 70.6 million through the 2nd quarter, and in the 2nd quarter alone by 23.9%, to EUR 32.7 million. During the first half of the year, Cinema City sold 10.1 million cinema tickets (+ 8.6%), of which 4.4 million tickets were sold in the 2nd quarter alone (up nearly 8%).
- Cinema City continued the growth in its chain of multiplexes. In the first 6 months of 2008 the Company opened cinemas in Budapest, Hungary (23 screens), Pilzen, the Czech Republic (10 screens), Bydgoszcz, Poland (13 screens), and Modi’in, Israel (6 screens) and through early August 2008 it has already signed 9 further leases in Romania.
- The Company recently launched the “digitalization” of its chain. 100 state-of-the-art digital projectors are to be installed in 2008 and 2009, including 15 which were already installed in cinemas in Israel, Hungary and Poland.
- Increase of holdings in its three existing real estate development projects in Bulgaria became effective upon signing agreements in July 2008, whereby the Company doubled its share in all three projects.
Cinema City consolidates its position ona developer market in Bulgaria (31 July 2008)
31.07.2008The Cinema City Group (“Cinema City”) has doubled its share in its two affiliated companies constructing shopping malls in Bulgaria, in the cities of Plovdiv and Ruse. Cinema City has purchased from the Ocif Group its 15% and 45% interests in each project, for a total price of EUR 18 million.
read moreCinema City opens the biggest multiplex in Israel, Warsaw, 4 June 2008
04.07.2008Cinema City International (“Cinema City”) has opened a 23-screen multiplex in Haifa. It is the company’s 20th multiplex in Israel and the 5th opened in all the company’s operating markets since the beginning of this year.
read moreCinema City’s financial results for 1Q 2008 (15 May 2008)
15.05.2008 In the 1st quarter of 2008, Cinema City International N.V. (“Cinema City”) generated revenues of EUR 44.9 million (up 17.5% from 1Q 2007), EBITDA of EUR 9.4 million (up 14.6%) and net profit of EUR 4 million (up 5.3%).
In the first three months of this year, Cinema City sold 5.7 million movie tickets (up 9.2%).
In the 1st quarter the company opened 2 cinemas, in Hungary and the Czech Republic, and signed 4 leases for space on the Romanian market. The company also worked on opening more projects, including one multiplex that has already opened, in April in Bydgoszcz, Poland and 9 more that are scheduled to be open in the second half of 2008.
The first full quarter of operations of two Cinema City theaters in Romania (24 more projects are underway) show first positive indicators in secondary cities in the country.
Cinema City opens its 24th cinema in Poland
23.04.2008Warsaw 23 April 2008
Cinema City’s opens today its 24th multiplex in Poland, in the city of Bydgoszcz. The cinema is located in the Focus Park shopping center and it offers 13 screens with 2 300 seats.
Cinema City will develop its fourth shopping mall in Bulgaria
28.03.2008 read moreCinema City’s financial results through 4Q2007
03.03.2008Continued growth of revenues and net profit
read moreNew Cinema City project in Romania
15.02.2008Cinema City International N.V. (“Cinema City”) will open a multiplex in the Romanian city of Deva. It is Cinema City’s 22nd project in Romania, and the second lease to be signed since the beginning of this year. By the end of 2008 the company plans to open 5 or 6 multiplexes in the country.
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