TORONTO, Feb. 8, 2024
/CNW/ - (TSX: CGX) - Today, Cineplex Inc. ("Cineplex" or the
"Company") released its financial results for the three months and
year ended December 31, 2023. Unless
otherwise specified, all amounts are in Canadian dollars.
2023 Highlights (continuing operations):
- Strong year-over-year revenue growth of 25.9%, raising revenues
to $1.4 billion
- Adjusted EBITDAaL increased 190.3% to $157.4 million as compared to $54.2 million in the prior year
- Adjusted EBITDAaL margin significantly improved to 11.3%
in 2023 compared to 4.9% in 2022
- All time annual record BPP of $12.53 and CPP of $8.90
- All time annual record revenues of $132.4 million in the Location-Based
Entertainment (LBE) business
- 2023 marked Cineplex's biggest year for international
programming, delivering 10% of Cineplex's annual box office
revenues
- Achieved strong box office growth of 30.1% and outpaced the
North American box office relative to 2022 by an impressive 785
basis points
- Announced the sale of Player One Amusement Group (P1AG) for
gross proceeds of $155 million in
cash (transaction closed on February 1,
2024), providing additional liquidity to strengthen the
balance sheet
"Cineplex continues to demonstrate its position as a North
American entertainment and media leader," said Ellis Jacob, President and CEO,
Cineplex.
"Reflecting on this past year, the strength of our results can
be attributed to our diversification strategy, our team's skilled
and tenured operating discipline, and our ability to understand our
guests' behaviours through leading data management and analytics.
These initiatives translated into Cineplex generating excellent
year-over-year revenue growth of 25.9% in 2023 and nearly tripling
its adjusted EBITDAaL."
"Despite the content supply challenges our industry faced last
year, we once again outperformed the North American box office
relative to 2022 by a sizable 785 basis points. Our alternative
programming, premium theatrical offerings, enhanced guest
experiences and ability to attract and convert guests through our
Scene+ loyalty program, allowed us to achieve strong box office
revenue growth of 30.1% in 2023."
"This past year we focused on strengthening our capital base and
with the successful sale of P1AG, paired with strong EBITDAaL
results, it allowed us to significantly de-leverage and de-risk the
balance sheet. As outlined in the comprehensive refinancing plans
announced earlier today, we are focused on optimizing our capital
structure."
"As we re-accelerate our growth in 2024, we have proven
strategies that set us apart from our peers. Movie-going is back,
and we are well positioned to anticipate and adjust as content
supply returns following the now resolved writers' and actors'
strikes. Our diversified lines of business will further contribute
to our bottom line. By solidifying the balance sheet and executing
against our financing plans, we are excited about Cineplex's future
and what it will mean for our investors."
Fourth Quarter and Full Year Financial Results
Financial
highlights
|
Fourth
Quarter
|
Full
Year
|
(in thousands of
dollars, except theatre attendance in thousands of
patrons and per share and per patron amounts)
|
2023
|
2022
|
Change
(ii)
|
2023
|
2022
|
Change
(ii)
|
(i)
|
(i)
|
Total
revenues
|
$315,078
|
$309,920
|
1.7 %
|
$1,388,894
|
$1,102,881
|
25.9 %
|
Theatre
attendance
|
9,599
|
9,208
|
4.2 %
|
47,862
|
38,045
|
25.8 %
|
Net (loss) income from
continuing operations
|
$(12,102)
|
$9,572
|
NM
|
$138,051
|
$(9,679)
|
NM
|
Net income from
discontinued operations
|
$3,148
|
$596
|
428.2 %
|
$29,113
|
$9,792
|
197.3 %
|
Net (loss) income
(iii)
|
$(8,954)
|
$10,168
|
NM
|
$167,164
|
$113
|
NM
|
Net (loss) income as a
percentage of sales from continuing
operations (iii)
|
(3.8) %
|
3.1 %
|
-6.9 %
|
9.9 %
|
(0.9) %
|
10.8 %
|
Cash provided by
operating activities
|
$83,385
|
$51,107
|
63.2 %
|
$196,094
|
$78,279
|
150.5 %
|
Box office revenues per
patron ("BPP") (iv)
|
$12.90
|
$13.06
|
-1.2 %
|
$12.53
|
$12.12
|
3.4 %
|
Concession revenues per
patron ("CPP") (iv)
|
$9.28
|
$8.93
|
3.9 %
|
$8.90
|
$8.72
|
2.1 %
|
Adjusted EBITDA
(iv)
|
$65,902
|
$67,744
|
-2.7 %
|
$322,962
|
$220,168
|
46.7 %
|
Adjusted EBITDAaL
(iv)
|
$24,178
|
$25,830
|
-6.4 %
|
$157,363
|
$54,201
|
190.3 %
|
Adjusted EBITDAaL from
discontinued operations (iv)
|
$5,352
|
$5,367
|
-0.3 %
|
$35,732
|
$27,471
|
30.1 %
|
Adjusted EBITDAaL
including discontinued operations (iv)
|
$29,530
|
$31,197
|
-5.3 %
|
$193,095
|
$81,672
|
136.4 %
|
Adjusted EBITDAaL
margin from continuing operations (iv)
|
7.7 %
|
8.3 %
|
-0.6 %
|
11.3 %
|
4.9 %
|
6.4 %
|
Adjusted free cash flow
(iv)
|
$(1,047)
|
$(265)
|
295.1 %
|
$83,691
|
$(13,509)
|
NM
|
Adjusted free cash flow
per share (iv)
|
$(0.016)
|
$(0.004)
|
300.0 %
|
$1.320
|
$(0.213)
|
NM
|
(Loss) earnings per
share from continuing operations - basic (iii)
|
$(0.19)
|
$0.15
|
NM
|
$2.18
|
$(0.15)
|
NM
|
Earnings per share from
discontinued operations - basic
|
$0.05
|
$0.01
|
400.0 %
|
$0.46
|
$0.15
|
206.7 %
|
(Loss) earnings per
share - basic (iii)
|
$(0.14)
|
$0.16
|
NM
|
$2.64
|
$—
|
NM
|
(Loss) earnings per
share from continuing operations - diluted (iii)
|
$(0.19)
|
$0.15
|
NM
|
$1.80
|
$(0.15)
|
NM
|
Earnings per share from
discontinued operations - diluted
|
$0.05
|
$0.01
|
400.0 %
|
$0.32
|
$0.15
|
113.3 %
|
(Loss) earnings per
share - diluted (iii)
|
$(0.14)
|
$0.16
|
NM
|
$2.12
|
$—
|
NM
|
(i)
|
The results of
discontinued operations (P1AG) have been excluded from prior period
figures as applicable per IFRS 5 to conform to current period
presentation. All amounts are from continuing operations unless
noted.
|
(ii)
|
Period over period
change calculated based on thousands of dollars except percentage
and per share values. Changes in percentage amounts are calculated
as 2023 value less 2022 value.
|
(iii)
|
2023 includes recovery
of approximately $150.2 million related to the recognition of
deferred income tax assets recognized during the second quarter and
expenses related to the Cineworld transaction and other
transactions or litigation outside the normal course of business in
the amount of $0.6 million (2022 - $0.9 million) for the fourth
quarter and $3.4 million (2022 - $3.6 million) for the full
year.
|
(iv)
|
Adjusted EBITDA,
adjusted EBITDAaL, adjusted EBITDAaL margin, adjusted free cash
flow per common share of Cineplex, BPP and CPP are measures that do
not have a standardized meaning under generally accepted accounting
principles ("GAAP"). These measures as well as other Non-GAAP
other financial measures reported by Cineplex are defined in the
'Non-GAAP and Other Financial Measures' section at the end of this
news release.
|
|
|
Fourth Quarter and January Box Office Results
The following table compares 2023 and 2024 monthly box office
revenues to 2019 monthly box office revenues:
Month
|
2019 Box office
(i)
|
2023 / 2024 Box
office (i)
|
2023 / 2024 as a
percentage of 2019
|
October
|
$54,528
|
$37,354
|
69 %
|
November
|
$52,314
|
$34,640
|
66 %
|
December
|
$74,946
|
$51,847
|
69 %
|
Q4
Total
|
$181,788
|
$123,841
|
68 %
|
January
|
$52,034
|
$37,620
|
72 %
|
(i) Amounts are in
thousands of dollars.
|
|
KEY DEVELOPMENTS IN 2023
The following describes certain key business initiatives
undertaken and results achieved during 2023 in each of Cineplex's
core business areas:
FILM ENTERTAINMENT AND CONTENT
Theatre Exhibition
- Reported annual box office revenues of $599.9 million, an increase of $138.6 million or 30.1% from $461.3 due to a 25.8% increase in theatre
attendance as a result of the success of highly anticipated films
released during the year, including Barbie, The Super Mario
Bros. Movie and Oppenheimer.
- Reported an annual record BPP of $12.53, $0.41 or
3.4% higher than the $12.12 reported
during the prior year.
- Opened Cineplex's second Junxion location at
Cineplex Junxion Erin Mills in Mississauga, Ontario on May 17, 2023. Cineplex Junxion is an
innovative entertainment destination that brings movies, amusement
gaming, dining and live performances together for the ultimate
guest experience.
- Signed a purchase agreement with IMAX Corporation for several
new IMAX systems, including one IMAX screen that opened
at Cineplex Cinemas Coquitlam and VIP in Coquitlam, British Columbia on December 5, 2023.
- Opened two ScreenX auditoriums at Scotiabank Theatre
Montreal in Montreal, Quebec
and SilverCity Brampton Cinemas in Brampton, Ontario on December 15, 2023.
- Welcomed nearly 700,000 guests on August
27, 2023, in celebration of National Cinema Day, marking the
second busiest day in Cineplex history and donating a portion
of ticket sales to the Canadian Picture Pioneers' Student
Assistance Awards Program.
- Launched the new Cineplex Mobile App, providing guests
with an improved experience while browsing for movies and theatres,
purchasing movie tickets, discovering exciting events at The Rec
Room and Junxion and using CineClub discounts and Scene+
rewards.
- The CineClub subscription program reached over 140,000
members, providing members with benefits accessible across
Cineplex's businesses nationwide including Cineplex theatres LBE
venues and the Cineplex Store.
Theatre Food Service
- Reported annual theatre food service revenues of $425.9 million, an increase of $94.3 million or 28.4% compared to the prior year
primarily due to a 25.8% increase in theatre attendance.
- Reported annual CPP of $8.90, an increase of 0.18 or 2.1% compared to
the prior year, primarily due to an increase in average spend.
- Began the national rollout of mobile food and beverage
ordering, beginning with theatres in select Ontario theatres during the fourth quarter,
allowing guests to select their order, select a time frame and
collect their order prior to the beginning of the movie.
Alternative Programming and Distribution
- As part of the theatrical distribution partnership
with Lionsgate, Cineplex's distribution business (Cineplex
Pictures) distributed several films, including the highly
successful John Wick: Chapter
4 and Hunger Games: The Ballad of Songbirds and Snakes
in 2023. Cineplex extended its theatrical distribution partnership
with Lionsgate until December 31,
2024.
- Expanded alternative programming offerings with major concert
events, including the record-breaking TAYLOR SWIFT | THE
ERAS TOUR, which took home the top spot during the fourth
quarter.
- 2023 marks Cineplex's biggest
year for international programming, delivering 10% of Cineplex's
annual box office revenues. Strong performing international films,
include Animal (Hindi) and Pathaan (Hindi), which
have become Cineplex's top two Indian and international movies of
all time. Cineplex also represented over 80% of the total North
American box office market share for other successful international
films including, Kali Jotta (Punjabi), Annhi Dea Mazaak
Ae (Punjabi) and Godday Godday Chaa (Punjabi).
- Event Cinema presented an assortment of big-screen programs in
2023, including three concerts from cinema-favourite
Andre Rieu; exciting stage performances with the Broadway hit
Waitress: The Musical; a collection of anime titles,
including Demon Slayer and Studio Ghibli classics; as
well as continued presentations from the Metropolitan Opera
featuring popular titles, including Don
Giovanni, Fedora and Florencia en el
Amazonas.
Digital Commerce
- Total registered users for Cineplex Store increased 3.5%
compared to the prior year, reaching approximately 2.4 million
registered users.
- Curated Cineplex Store collections for Black History
Month, Asian History Month, National Indigenous Peoples Day, Pride
Month and National Day for Truth and Reconciliation to highlight
diverse experiences, cultures and artistic expressions.
MEDIA
- Reported annual media revenues of $118.7
million, an increase of $6.9
million or 6.2% compared to the prior year.
- Continued leveraging expertise in data and analytics to drive
revenues.
Cinema Media
- Reported annual cinema media revenues of $80.1 million, an increase of $7.8 million or 10.8% over the prior year.
Digital Place-Based Media
- Reported annual revenues of $38.6
million, a decrease of $0.9
million or 2.2% over the prior year.
- Signed an agreement with Cadillac Fairview to operate a
network of 200 digital displays in 18 Cadillac Fairview shopping
centres, and to sell digital and static media, and sponsorships,
for its extensive network of highly desirable shopping destinations
across Canada.
LOCATION-BASED ENTERTAINMENT
- Reported all-time record annual revenues of $132.4 million, an increase of $21.5 million or 19.4% compared to the prior
year.
- Reported all-time record annual adjusted store
level EBITDAaL of $37.9 million,
an increase of $3.6 million or 10.4%
compared to the prior year.
- Announced plans for one Playdium location in
Toronto, Ontario at Cadillac
Fairview Mall, which is expected to open during the fourth
quarter of 2024.
LOYALTY
- Membership in the Scene+ loyalty program increased to over 14
million members as at December 31,
2023.
- Welcomed Home Hardware Stores Limited to the Scene+ loyalty
program, providing members with additional opportunities to earn
and redeem points.
CORPORATE
- Recognized income taxes recovery of $150.2 million during the second quarter of 2023
on the basis of continued strong return to profitability providing
a reasonable expectation that previously derecognized net
deferred income tax assets will be utilized to offset future
periods of taxable income.
- Celebrated Community Day on November 4,
2023 with a morning of free, family-friendly movies with
select discounted concessions, where one
dollar from every concession order of select
items, XSCAPE Play Card and food and beverage orders and game
bands at LBE venues were donated to BGC Canada.
- On November 22, 2023, Cineplex
announced it had entered into a definitive agreement to sell 100%
of the issued and outstanding shares of P1AG for a purchase price
of $155.0 million, subject to
customary post-closing adjustments.
- On December 13,
2023, Cineplex entered into the Eighth Amended and Restated
Credit Agreement Amendment which extended the maturity date of the
of the credit facility from November 13,
2024 to November 13, 2025,
amended the standard administrative provisions relating to the
potential replacement of benchmark rates, and made certain other
administrative amendments.
NON-GAAP AND OTHER FINANCIAL MEASURES
National Instrument 52-112, Non-GAAP and Other Financial
Measures Disclosure ("NI 52-112") imposes obligations regarding
disclosure of non-GAAP financial measures, non-GAAP ratios, and
other financial measures. Cineplex reports on certain non-GAAP
measures, non-GAAP ratios, supplementary financial measures and
total segment measures that are used by management to evaluate
Cineplex's performance. The following measures included in this
news release do not have a standardized meaning under GAAP and may
not be comparable to similar measures provided by other issuers.
Cineplex includes these measures because management believes that
they assist investors in assessing financial performance. These
non-GAAP and other financial measures are used throughout this news
release and are defined below.
NON-GAAP FINANCIAL MEASURES
Non-GAAP financial measures are defined in 52-112 as a financial
measure disclosed that (a) depicts the historical or expected
future financial performance, financial position or cash flow of an
entity, (b) with respect to its composition, excludes an amount
that is included in, or includes an amount that is excluded from,
the composition of the most directly comparable financial measure
disclosed in the primary financial statements of the entity, (c) is
not disclosed in the financial statements of the entity, and (d) is
not a ratio, fraction, percentage or similar representation.
NON-GAAP RATIOS
A non-GAAP ratio is defined by 52-112 as a financial measure
disclosed that (a) is in the form of a ratio, fraction, percentage
or similar representation, (b) has a non-GAAP financial measure as
one or more of its components, and (c) is not disclosed in the
financial statements.
Below are non-GAAP financial measures or non-GAAP ratios for
continuing operations that are reported by Cineplex.
EBITDA, ADJUSTED EBITDA AND ADJUSTED EBITDAaL
Management defines EBITDA as earnings before interest income and
expense, income taxes and depreciation and amortization expense.
Adjusted EBITDA excludes the change in fair value of financial
instrument, loss (gain) on disposal of assets, foreign exchange,
the equity income of CDCP, and impairment, depreciation,
amortization, interest and taxes of Cineplex's other joint ventures
and associates. Adjusted EBITDAaL modifies adjusted EBITDA to
deduct current period cash rent paid or payable related to lease
obligations.
Subsequent to the adoption of IFRS 16, Leases, by Cineplex
effective January 1, 2019, the
calculation of EBITDA no longer includes a charge for amounts paid
or payable with respect to leased property and equipment. Given the
majority of Cineplex's businesses are carried on in leased
premises, Cineplex introduced the measure of adjusted EBITDAaL
which includes a deduction for cash rent paid/payable related to
lease obligations. Cineplex's management believes that adjusted
EBITDAaL is an important supplemental measure of Cineplex's
profitability at an operational level and provides analysts and
investors with comparability in evaluating and valuing Cineplex's
performance period over period. EBITDA, adjusted for various
unusual items, is also used to define certain financial covenants
in Cineplex's Credit Facilities. Management calculates adjusted
EBITDAaL margin by dividing adjusted EBITDAaL by total
revenues.
EBITDA, adjusted EBITDA and adjusted EBITDAaL are non-GAAP
measures generally used as an indicator of financial performance
and they should not be seen as a measure of liquidity or a
substitute for comparable metrics prepared in accordance with GAAP.
Cineplex's EBITDA, adjusted EBITDA and adjusted EBITDAaL may differ
from similar calculations as reported by other entities and
accordingly may not be comparable to EBITDA, adjusted EBITDA or
adjusted EBITDAaL as reported by other entities.
Adjusted Store Level EBITDAaL Metrics
Cineplex reviews and reports adjusted EBITDAaL at the location
level for the LBE which is calculated as total LBE revenues from
all locations less the total of operating expenses of LBE, which
excludes pre-opening costs and overhead relating to the management
of LBE.
Adjusted Store Level EBITDAaL Margin
Calculated as adjusted store level EBITDAaL divided by total
revenues for LBE for the period.
SUPPLEMENTARY FINANCIAL MEASURES
Supplementary financial measures are financial measures that are
not (a) presented in the financial statements and (b) is, or is
intended to be, disclosed periodically to depict the historical or
expected future financial performance, financial position or cash
flow, that is not a non-GAAP financial measure or a non-GAAP ratio
as defined in the instrument. Below are supplementary financial
measures that Cineplex uses to depict its financial performance,
financial position or cash flows.
Earnings (loss) per Share Metrics
Cineplex has
presented basic and diluted earnings (loss) per share net of this
item to provide a more comparable loss per share metric between the
current periods and prior year periods. In the non-GAAP and other
financial measure, earnings is defined as net income or net loss
attributable to Cineplex excluding the change in fair value of
financial instruments.
Per Patron Revenue Metrics
Cineplex reviews per patron
metrics as they relate to box office revenue and theatre food
service revenue such as BPP, CPP, BPP excluding premium priced
product, and concession margin per patron, as these are key
measures used by investors to value and assess Cineplex's
performance, and are widely used in the theatre exhibition
industry. Management of Cineplex defines these metrics as
follows:
Theatre Attendance: Theatre attendance is calculated as
the total number of paying patrons that frequent Cineplex's
theatres during the period.
BPP: Calculated as total box office revenues divided
by total paid theatre attendance for the period.
BPP excluding premium priced product: Calculated as total
box office revenues for the period, less box office revenues from
3D, 4DX, UltraAVX, VIP ScreenX and IMAX product; divided by total
paid theatre attendance for the period, less paid theatre
attendance for 3D, 4DX, UltraAVX, VIP, ScreenX and IMAX
product.
CPP: Calculated as total theatre food service
revenues divided by total paid total theatre attendance for the
period.
Premium priced product: Defined as 3D, 4DX,
UltraAVX, IMAX, ScreenX and VIP film product.
Theatre concession margin per patron: Calculated as total
theatre food service revenues less total theatre food service cost,
divided by theatre attendance for the period.
Same Theatre Analysis
Cineplex reviews and reports
same theatre metrics relating to box office revenues, theatre food
service revenues, theatre rent expense and theatre payroll expense,
as these measures are widely used in the theatre exhibition
industry as well as other retail industries.
Same theatre metrics are calculated by removing the results for
all theatres that have been opened, acquired, closed or otherwise
disposed of subsequent to the start of the prior year comparative
period. For the three months ended December
31, 2023 the impact of two locations that has been opened or
acquired and two locations that have been closed or otherwise
disposed of have been excluded, resulting in 154 theatres being
included in the same theatre metrics. For the year ended
December 31, 2023 the impact of two
locations that has been opened or acquired and four locations that
have been closed or otherwise disposed of have been excluded,
resulting in 152 theatres being included in the same theatre
metrics.
Cost of sales percentages
Cineplex reviews and reports
cost of sales percentages for its two largest revenue sources, box
office revenues and food service revenues as these measures are
widely used in the theatre exhibition industry. These measures are
reported as film cost percentage and concession cost percentage,
respectively, and are calculated as follows:
Film cost percentage: Calculated as total film cost
expense divided by total box office revenues for the period.
Theatre concession cost percentage: Calculated as total
theatre food service costs divided by total theatre food service
revenues for the period.
LBE food cost percentage: Calculated as total LBE food
costs divided by total LBE food service revenues for the
period.
Certain information included in this news release contains
forward-looking statements within the meaning of applicable
securities laws. These forward-looking statements include, among
others, statements with respect to Cineplex's objectives and goals,
and the strategies to achieve those objectives and goals, as well
as statements with respect to Cineplex's beliefs, plans,
objectives, expectations, anticipations, estimates and intentions.
The words "may", "will", "could", "should", "would", "suspect",
"outlook", "believe", "plan", "anticipate", "estimate", "expect",
"intend", "forecast", "objective" and "continue" (or the negative
thereof), and words and expressions of similar import, are intended
to identify forward-looking statements.
By their very nature, forward-looking statements
involve inherent risks and uncertainties, including those described
in Cineplex's Annual Information Form ("AIF"), and the management's
discussion and analysis for the year ended December 31, 2023 ("Annual MD&A") and in this
news release, which is incorporated herein by reference and
available on SEDAR+ (www.sedarplus.ca). These risks and
uncertainties, both general and specific, give rise to the
possibility that predictions, forecasts, projections and other
forward-looking statements will not be achieved. Certain material
factors or assumptions are applied in making forward-looking
statements and actual results may differ materially from those
expressed or implied in such statements. Cineplex cautions readers
not to place undue reliance on these statements, as a number of
important factors, many of which are beyond Cineplex's control,
could cause actual results to differ materially from the beliefs,
plans, objectives, expectations, anticipations, estimates and
intentions expressed in such forward-looking statements, including:
Cineplex's expectations with respect to liquidity and capital
expenditures; its ability to meet its ongoing capital, operating
and other obligations, and anticipated needs for, and sources of,
funds; Cineplex's ability to execute cost-cutting and
revenue enhancement initiatives; risks generally
encountered in the relevant industry, competition, customer, legal,
taxation and accounting matters.
The foregoing list of factors that may affect future results
is not exhaustive. When reviewing Cineplex's forward-looking
statements, readers should carefully consider the foregoing factors
and other uncertainties and potential events. Additional
information about factors that may cause actual results to differ
materially from expectations and about material factors or
assumptions applied in making forward-looking statements may be
found in the "Risks and Uncertainties" section of Cineplex's Annual
MD&A.
Cineplex does not undertake to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by applicable
Canadian securities law. Additionally, Cineplex undertakes no
obligation to comment on analyses, expectations or statements made
by third parties in respect of Cineplex, its financial or operating
results or its securities. All forward-looking statements in this
news release are made as of the date hereof and are qualified by
these cautionary statements. Additional information, including
Cineplex's AIF and Annual MD&A, can be found on SEDAR+ at
www.sedarplus.ca.
You are cordially invited to participate in a conference call
with the management of Cineplex (TSX: CGX) to review our fourth
quarter and year end 2023 results. Ellis
Jacob, President and Chief Executive Officer and Gord
Nelson, Chief Financial Officer, will host the call scheduled
for:
Cineplex Inc. Q4/YE 2023 Earnings Webcast:
Date:
|
Thursday, February 8,
2024
|
Time:
|
10:00 a.m. Eastern
Daylight Time
|
Audio Webcast:
|
Audience URL
https://events.q4inc.com/attendee/140885495
|
|
Pre-registration
available.
|
|
An archive of the
webcast will be available at
https://corp.cineplex.com/investors after the webcast for a
limited time.
|
|
|
Please note, analysts who cover the Company, should use the
dial-in option to participate in the live question period:
1-226-828-7575 (Local) or 1-833-950-0062 (Canada Toll-free), access
code 495623.
All attendees should join the event 5-10 minutes prior to the
scheduled start time. Media are welcome to join the call in
listen-only mode.
About Cineplex
Cineplex (TSX: CGX) is a top-tier Canadian brand that operates
in the Film Entertainment and Content, Amusement and Leisure, and
Media sectors. Cineplex offers a unique escape from the everyday to
millions of guests through its circuit of over 170 movie theatres
and location-based entertainment venues. In addition to being
Canada's largest and most
innovative film exhibitor, the company operates Canada's favourite destination for 'Eats &
Entertainment' (The Rec Room), complexes specially designed for
teens and families (Playdium), and a newly launched entertainment
concept that brings movies, amusement gaming, dining, and live
performances together under one roof (Cineplex Junxion). It also
operates successful businesses in digital commerce
(CineplexStore.com), alternative programming (Cineplex Events),
motion picture distribution (Cineplex Pictures), cinema media
(Cineplex Media), digital place-based media (Cineplex Digital
Media) and, until February 1, 2024, amusement solutions
(Player One Amusement Group). Providing even more value for its
guests, Cineplex is a partner in Scene+, Canada's largest entertainment and lifestyle
loyalty program.
Proudly recognized as having one of the country's Most Admired
Corporate Cultures, Cineplex employs over 10,000 people in its
offices and venues across Canada
and the United States. To learn
more, visit Cineplex.com.
SOURCE Cineplex