ots Ad hoc-Service: CinemaxX AG <DE0005085708> CinemaxX AG announces 9-month results: Result of DM 8.0 million, weaker final quarter expected
Sales up by 19.2 % to DM 246.4 million
Hamburg (ots Ad hoc-Service) -
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The Hamburg-based company CinemaxX AG reports a positive consolidated result of DM 8.0 million for the first nine months of the 1999/2000 financial year (ending 30.6.) (previous year: DM 0.1 million). Sales revenues were up by 19.2 % to DM 246.4 million, with gross performance rising by 17.4 % to DM 271.1 million.
EBITDA improved by 21 % to DM 20.3 million (previous year DM 16.8 million). The operating result (EBIT) was approximately doubled compared with the previous year, rising by DM 2.5 million to DM 4.8 million.
The total number of cinema visitors rose by 12.6 % to 14.6 million. The films being shown in January and February in particular were of a very high quality, boosting audiences as a result. Between January and March, the group inaugurated three further multiplex cinemas with a total of 6,400 seats in Augsburg, Trier and Lucerne (Switzerland).
Experience has shown that audience totals for the current final quarter will experience a seasonal decline and do not traditionally improve the result. In the light of this situation, the result for the year so far does not provide any guarantee of a similar result for the financial year as a whole. However, the Board of Management is confident that the previous year's figure can be bettered.
The funds of some DM 60 million accrued by the company as a result of the capital increase will be earmarked for accelerating the group's international spread within Europe. However, the particular emphasis of its activities is on measures aimed at consolidating the cinema market, in order to boost the group's long-term prospects for earnings.
The newly created Foreign Operations Division, represented at board level by the current Managing Director Wim Oude Kotte, reflects the high priority being attached to foreign expansion and its strategic importance. This development thus lends added impetus to CinemaxX AG's objective of building on its position as a leading European player.
Queries:
Ernst-Günter Surkus, Investor Relations; Tel. +49-40-45068-120, Fax +49-40-450 68-218 E-Mail: ersu@cinemaxx.de
Thomas Schulz, Press; Tel. +49-40-45068-181, Fax +49-40-450 68-209 E-Mail: thsc@cinemaxx.de
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Original-Content von: CinemaxX Holdings GmbH, übermittelt durch news aktuell