Market Overview

Cineplex Inc. Reports Record Second Quarter Results

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TORONTO, Aug. 8, 2019 /CNW/ - (TSX:CGX) - Cineplex Inc. ("Cineplex") today released its financial results for the three and six months ended June 30, 2019.  Unless otherwise specified, all amounts are in Canadian dollars.

Cineplex Entertainment LP (CNW Group/Cineplex)

Second Quarter Results






2019

2018

Period over Period
Change (i)

Total revenues

$

439.2

million

$

409.1

million

7.4%

Theatre attendance

17.0

million

17.3

million

-1.7%

Net income*

$

19.4

million

$

24.4

million

-20.4%

Box office revenues per patron ("BPP") (ii)

$

11.13


$

10.82


2.9%

Concession revenues per patron ("CPP") (ii)

$

7.04


$

6.59


6.8%

Adjusted EBITDA (ii)

$

112.2

million

$

67.8

million

65.5%

Adjusted EBITDAaL (ii) (iii)

$

68.1

million

$

63.7

million

6.9%

Adjusted EBITDAaL margin (ii) (iii)

15.5%


15.6%


-0.1%

Adjusted free cash flow (ii)

$

49.3

million

$

43.6

million

13.1%

Adjusted free cash flow per common share of Cineplex ("Share") (ii)

$

0.778


$

0.688


13.1%

Earnings per Share ("EPS") - basic*

$

0.31


$

0.38


-18.4%

EPS - diluted*

$

0.31


$

0.38


-18.4%

*The adoption of IFRS 16 negatively impacted the net income by approximately $3.9 million in the current period and approximately $6.9 million or $0.11 per Share as compared to Q2 2018.

 

Year to Date Results






2019

2018

Period over Period
Change (i)

Total revenues

$

804.2

million

$

799.9

million

0.5%

Theatre attendance

32.0

million

35.1

million

-8.8%

Net income*

$

12.0

million

$

39.6

million

-69.6%

Box office revenues per patron ("BPP") (ii)

$

10.81


$

10.51


2.9%

Concession revenues per patron ("CPP") (ii)

$

6.72


$

6.34


6.0%

Adjusted EBITDA (ii)

$

189.7

million

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