31/08/2009

Cinema City International, the largest multiplex operator in Central and Eastern Europe (and Israel), is set to open 60-70 new screens by the end of 2009.

According to company director Moshe J. Greidinger, "the key projects are multiplexes in Bucharest, Krakow and Budapest. Their opening will significantly strengthen our position on local markets. And at the same time, we will continue the transition to digital".

Cinema City currently operates 65 multiplexes with a total of 603 screens in six countries (Poland, Czech Republic, Hungary, Romania, Bulgaria and Israel). The group already has contractual agreements in place for the opening of a further 45 multiplexes (472 screens).

The company is also active in the field of cinema advertising and film distribution. In the first semester of 2009, Cinema City opened 37 theatres, including around ten in Poland, at Bielsko-Biala and the Cinema Park in Poznan.

The first half of the current year saw Cinema City achieve a turnover of €73.1m in the film sector, representing a growth of 3.6% compared to the first semester of 2008, despite the widespread loss of value of currencies in Central and Eastern Europe. With regard to the company’s film activities, there was also an increase in the number of admissions sold since the start of 2009: 12.3m in the first semester (+22.5%), including 5.4m in the second quarter (+23.1%).

Accounting for 55% of turnover, the Polish market is the most important territory for Cinema City International’s investment. In Romania, where the group opened its first cinema at the end of 2007, takings have doubled during the past six months, rising to €2.6m thanks to the four multiplexes currently based there. Meanwhile, the opening of 31 more is planned for the coming years.

(Translated from French)