Kinepolis achieved record results in 2023
22 Februar 2024 - 7:00AM
Kinepolis achieved record results in 2023
Kinepolis achieved record results in 2023
Regulated information
22 February 2024, 7 a.m.
2023 was a record year for Kinepolis. Compared
with 2022, revenue increased by 21.1% to € 605.5 million, with
EBITDAL increasing by 32.8% to € 151.4 million. Net profit doubled
to € 56.1 million.
With its highest ever turnover, EBITDAL and net
profit, Kinepolis has now completely recovered from the Covid
episode. The strong revenue generation was driven by 20.6% more
visitors compared to 2022 combined with an increase in sales per
visitor, a direct result of Kinepolis' substantial investments in
premium concepts and film experiences.
Following an exceptionally good summer, a weaker
fourth quarter (in terms of attendance figures) followed, partly
due to the actors’ and screenwriters’ strike and the accompanying
postponement of the most anticipated autumn film, ‘Dune: Part Two’,
towards spring 2024. In this background, the anticipated expansion
of the number of Hollywood releases is particularly promising.
The strong operating result led to a balance
sheet that is stronger than before the pandemic, with higher
solvency, lower gearing and substantially lower net debt and
leverage. Free cash flow was € 85.5 million for the full year,
compared with € 70.1 million in 2022.
With record figures and strong confidence in the
future, a gross dividend of € 0.55 per share will be proposed to
the General Meeting.
Important achievements
- Opening of 6
new IMAX screens in Canada, Belgium, Luxembourg, France and
Spain
- Agreement for
21 new ScreenX theatres, with the first 5 being opened this month
(Braine-l 'Alleud, Brussels, Brétigny, Nancy, Enschede)
- Rollout of
Premiere/VIP Seats and Laser ULTRA in North America (US,
Canada)
- Progress in
transition to laser projection: 59% of all screens are now equipped
with sustainable laser projection (77% in Europe); 75 installations
planned for 2024
- Successful
integration of newly acquired cinemas in Amnéville, Belfort and
Béziers
Eddy Duquenne, CEO of Kinepolis Group, about the results
for 2023:
“I am particularly proud of what we have achieved as a Group.
Our focus on innovation and the premiumisation of our offerings –
supported by the expertise and creativity of our teams - has been
the right choice. We sold more premium products than ever, and the
customer satisfaction levels show that our customers appreciate the
experience offered. We will continue to focus on this.
The Group’s current results also present an excellent foundation
to create additional value upon further expansion of the films on
offer, and provide Kinepolis with the capacity for future
expansion."
Full report annual results 2023 attached.
- PR FY results 2023_EN_complete
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