Cineworld increases its 2015 full year dividend by 28.7%

DividendMax Ltd.

Cineworld increases its 2015 full year dividend by 28.7%

Financial Highlights

Group revenue growth of 13.9% on a statutory basis and 12.4% on a pro forma basis;

- UK & Ireland revenue growth of 12.7% on a 52 week v 52 week basis,

- CEE & Israel revenue growth of 11.7% on a pro forma basis;

EBITDA growth of 22.7% on a statutory basis and 18.5% on a pro forma basis;

Adjusted profit before tax increased by 37.1% to tax of £102.8m after non-recurring costs and amortisation of £3.1m;

Profit after tax increased by 49.2% to £81.3m;

Adjusted diluted EPS growth of 28.7% to 31.4p;

Full year dividend increased by 29.6% to 17.5p;

Net cash generated from operating activities increased by 92.7% to £165.9m; and  

Net debt reduced from £281.9m to £245.2m, reducing the EBITDA to net debt ratio at the year end to 1.6 times.

Operational Highlights

Record number of 18 sites opened during the period, taking the Group to 2,011 screens.

A record 93.6m admissions, an increase of 12.9%.

Top ranked UK cinema chain in highly-regarded annual survey by the Institute of Customer Service.

Integration of the two Groups successfully completed and the synergies achieved have significantly exceeded original expectations.

Commenting on these results, Mooky Greidinger, Chief Executive Officer of Cineworld Group plc, said:

"We are pleased to announce 2015 was another record year for the Cineworld Group and its shareholders. Revenues continued to grow as more than 93 million customers came through our doors and enjoyed the movies we showed. Our strong financial performance was driven by improved efficiencies throughout the business and the cost savings achieved following the successful integration of the two Groups. In addition, we opened a record number of 18 new sites during 2015. The film slate was strong with a number of blockbusters- "Jurassic World", "Spectre" and "Star Wars: The Force Awakens" being the most significant.

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