Brief: Kinepolis Q1 EBITDA Negative, Impact Limited By Cost Control Measures

Kinepolis NV

29/04/2021 06:43

April 29 (Reuters) - Kinepolis Group NV  KIPO.BR :
    * KINEPOLIS REMAINS FINANCIALLY SOLID DESPITE PROLONGED
CLOSURES
AND LOOKS FORWARD TO REOPENING CINEMAS
    * DUE TO MOST CINEMAS HAVING TO KEEP THEIR DOORS CLOSED,
KINEPOLIS
RECEIVED ONLY 0.4 MILLION VISITORS IN THE FIRST QUARTER, OR 5.0%
OF VISITORS COMPARED TO THE SAME PERIOD LAST YEAR
    * Q1 TOTAL REVENUE DECREASED LESS SHARPLY THAN THE NUMBER OF
VISITORS IN ALL COUNTRIES
    * Q1 EBITDA WAS NEGATIVE, ALTHOUGH THE IMPACT HAS BEEN
LIMITED
THANKS TO THE COST CONTROL MEASURES TAKEN
    * Q1 THE NET RESULT WAS NEGATIVE DUE TO THE NEGATIVE
OPERATING
RESULT, DEPRECIATIONS AND FINANCIAL COSTS, SOMEWHAT OFFSET BY
THE TAX IMPACT
    * NORMALISED FREE CASH FLOW, EXCLUDING WORKING CAPITAL
IMPACT,
AMOUNTED TO € -4.7 MILLION PER MONTH IN THE FIRST QUARTER
    * KINEPOLIS HAS AMPLE LIQUIDITY TO COPE WITH THIS CRISIS FOR
A
CONSIDERABLE PERIOD OF TIME
    * STILL HAD € 144.5 MILLION IN CASH AND UNUSED AVAILABLE
CREDIT
LINES AS AT THE END OF MARCH 2021

Source text for Eikon:  ID:nNDL9BZ7Mh 
Further company coverage:  KIPO.BR 

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