Kinepolis has booked record turnover in the first half of the year, according to results published by the cinema chain on Thursday. The number of visitors in the theaters is not yet at the pre-coronavirus level, but Kinepolis did manage to achieve more profit and turnover per visitor.
Kinepolis generated a turnover of 285.3 million euros in the first six months of 2023. That is a quarter (25.1 percent) more than in the same period last year and 19.8 percent more than in the first half of the pre-covid year 2019. Net profit amounted to 20.8 million euros, compared to 9.1 million euros in the first half of last year.
Compared to a year ago, the number of visitors rose by 22.8 percent to 16.8 million, but even with an expansion of the number of cinemas, it is not yet at the pre-coronavirus level. On a comparable basis, i.e. excluding the cinemas that have since been taken over or newly opened, the group amounted to 74.8 percent of visitors in the first half of 2019.
CEO Eddy Duquenne sees great growth potential in the greater demand for “experience” and the increasing number of visitors. They recover in proportion to the increase in the international film offer, he says. Top movies like ‘Avatar 2’ and ‘The super Mario Bros. Movie’ did well in recent months. The success of summer films ‘Barbie’ and ‘Oppenheimer’ is not yet in the figures.
Kinepolis does not expect a fundamental impact from the Hollywood strike. “The exact impact depends on the duration of the strike and individual decisions by studios. However, there is a lot of film content in the pipeline and Kinepolis is confident to fill its screens with quality local and international films,” it sounds.
This article is originally published on bruzz.be
