Heat wave concerns dampen Kinepolis' share reaction after strong H1

Kinepolis NV

18/08/2022 10:45

** Shares in Belgian cinema operator Kinepolis  KINO.BR 
rise as much as 7.2% in morning trade before flattening to 0.2%,
as concerns over the heat wave impact overshadow solid H1
performance
    ** "The summer holiday started promisingly, but was then
plagued by the heat wave," the company says
    ** KBC says this comment could be behind the muted share
reaction
    ** The group's H1 EBITDA returned to profit at 68.2 million
euros ($69.3 million) vs loss of 7.2 million last year, and
sales per visitor were higher than 2021  urn:newsml:reuters.com:*:nFWN2ZT5R5
    ** KBC notes attendance recovered in all markets, as even
countries that initially lagged are now catching up, with number
of visitors in H1 over five times higher than in 2021, but only
77% of 2019 levels
    ** The group also appoints Jeroen Mouton as new CFO
    ** Including today's rise, the stock has dropped by 11.7%
YTD

($1 = 0.9837 euros)

 (Reporting by Olivier Cherfan)
 ((olivier.cherfan@thomsonreuters.com))