financial analysis of kinepolis

KINEPOLISFinancial analysis

Overview

Kinepolis 1st half 2009 1st half 2008 Financial information Conclusion

Kinepolis Box office In theatre sales B2B Concessions Film distribution

Kinepolis

Global view

 Key figures (in €’000) 1st half 2008 1st half 2009 % change

Visitors (‘000) 10,393 9,843 -5.3 %

Revenue  101.1 100.7 -0.4 %

EBITDA  21.6 21.5 -0.5 %

Recurring EBITDA  21.6 21.9 1.3 %

Net financing cost  4.0 0.6  83.8 %

Tax  1.0 0.8 16.6 %

Net profit  4.7 6.3 33.0 %Recurring net profit  4.7 6.0  25.5 %Free cash flow  - 2.3 15.0  

Net Financial Debt  147.5 119.2 19.2 %

Activities

BoxOffi

ce

Conce

ssio

ns B2B

In T

heat

re S

ales

Film D

istrib

utio

n0%

10%

20%

30%

40%

50%

60%

70%

20082009

Number of visitors

Earnings by country 2009

Belgium France Spain Switzerland Total

Cinemas 11 7 3 1 22

1st half 2009 4,108,124 3,337,675 2,317,704 79,532 9,843,035

1st half 2008 4,441,982 3,606,774 2,264,500 79,219 10,392,475

% growth -7.50% -7.50% -2.30% 0.40% -5.30%

Price of one ticket

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 20090

2

4

6

8

10

12

in e

uro

Net profit

 Key figures (in €’000) 1st half 2008 1st half 2009 % change

Net profit  4.7 6.3 33.0 %

Recurring net profit  4.7 6.0  25.5 %

Financial results

 Key figures (in €’000)  1st half 2008  1st half 2009  % change 

Net Financial Debt   147.5  119.2  - 19.2 % 

Financial information

Share

2008: € 0.68

2009: € 0.94

Conclusion

Sources http://investors.kinepolis.com/Media/Pressrelease_HY1_2009_ENG.pdf http://investors.kinepolis.com/index.cfm?PageID=15848