CinemaxX Holdings GmbH

ots Ad hoc-Service: CinemaxX AG CinemaxX AG:CinemaxX AG: provisional result for the 1999/2000 financial year

Ad hoc-announcement edited and sent by DGAP. The sender is solely responsible for the contents of this announcement.


    Hamburg (ots Ad hoc-Service) - According to provisional figures, CinemaxX AG closed the 1999/2000 financial year (ending 30.06.) with a consolidated profit of a round DM 3.1 million (previous year DM 2.1 m). With 18.3 million visitors (+ 11.8 %), the group increased its sales by around 14 % to DM 310 million (previous year DM 272 million). Gross performance including other operating income rose by 13 % to DM 348 million (previous year DM 308 million).

    While 10.5 % more cinema tickets were sold in Germany during the period in question than in the prior-year period, the visitor total of the CinemaxX Group rose by 11.8 %, a higher rate than the general growth of the market. With capacity utilisation 11.1 % better than the average for all multiplex operators, CinemaxX AG was equally able to defend its leading position in the German market.

    A poor fourth quarter, with the combined effect of exceptionally good weather and insufficiently attractive films, has , however, caused higher operating losses than are customary for the season, leading to an overall negative trading result of DM -7 million (previous year DM -14.6 million).

    Even though greater efficiency was achieved specifically in personnel deployment, the newly opened multiplexes have not yet reached their target capacity utilisation in the launch phase. EBIT has moreover been diminished by DM 5 million in one-off expenses for these newly opened facilities. Expenses and provisions not relating to the accounting period have likewise depressed the result by some DM 3.5 million. These charges have been balanced out by extraordinary income of DM 8.2 million from the sale of fixed assets .

    The cash flow totalled DM 24.9 million. As a result of the capital increase in June, the group now has equity of over DM 150 million at its disposal, with low borrowings. The group consequently enjoys sound financial foundations and will exploit its leading market position to improve the result.

    Details of the results for the year will be announced by the Board of Management at a press conference on the financial statements, scheduled to following the meeting at which the Supervisory Board will consider the balance sheet (18.10.).


    Ernst-Günter Surkus, Investor Relations, Tel. +49-40-450 68-120 Thomas Schulz, Press, Tel. +49-40-45068-181

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