London, July 24, 2018 - Vue International, one of the world's leading cinema operators with 1,989 screens across ten countries, today announces results for the three months to 31 May 2018. This quarter showcases the company’s global growth strategy, as Vue continues to expand across new markets, with new acquisitions in Ireland and Poland, and developments in Saudi Arabia.
- Vue admissions market share growth of 1.5% reflects the success of our ongoing price optimisation strategy, new site openings and screens and volume driving refurbishments
- Net leverage 5.4x on LTM EBITDA £117.3m
- Overall market admissions lower by 9.2% vs. Q2 2017 but Vue admissions only 1.8% lower
- Acquisitions of Cinema3D circuit in Poland (11 sites with 3 more under construction) and Showtime circuit comprising 2 sites in the Republic of Ireland (these acquisitions are not included in the Q2 financial numbers)
- Further progress in the Kingdom of Saudi Arabia including advanced discussions with local partners and site development plans
- Increased SPP following the trend of recent years and continued investment in concessions offerings
- Success from volume market share driving price optimisation strategy
- Major refurbishments completed at 3 sites in the Netherlands along with 3 additional screens at Den Bosch
- Digital CVM enhancements are now complete in all territories
Tim Richards, Founder and CEO, commented:
“We had another busy quarter driven by organic and acquisition led growth across our key markets. Vue recently agreed to acquire entertainment companies in Poland and Ireland, expanding our footprint to 228 sites and 1,989 screens across Europe, and our developments in the Kingdom of Saudi are progressing well. As always, we continue to seek opportunities to drive our international expansion in high growth markets.
While we expand worldwide, our investment in developing our current portfolio is central to our strategy, with 3 major refurbishments completed in the Netherlands. This ensures that all our customers receive the premium out-of-home entertainment experience that we guarantee.
“We are positive about the outlook for Vue in the third quarter. We remain well positioned to take advantage of a promising slate for the rest 2018, as we continue to deliver a high quality, immersive experience for our customers.”
Brunswick Group LLP
+44 207 404 5959
Laura Buchanan / Rosheeka Field
Lucy Northmore, Group PR Manager, Vue
+44 7921 887 296
About Vue International Vue International is one of the world's leading cinema operators, managing the most respected brands in major European markets and Taiwan, spanning ten countries, 212 sites and 1,904 screens. The group has leading positions in the United Kingdom, Ireland, Germany, Denmark, Netherlands, Italy, Poland, Latvia, Lithuania and Taiwan. From its inception in May 2003 Vue International has grown organically and through strategic acquisition to deliver a premium out-of-home entertainment experience by combining the best content, with the best technology in the best environment. www.vue-international.com