Record Results at German Multiplex Group CinemaxX
Operating profits climb 10 percent despite drop in ticket sales.
COLOGNE, Germany - German multiplex operator CinemaxX booked record operating profits last year, boosting EBITDA results some 10 percent to $55 million (€41.2 million). Revenue was also up slightly at $297 million (€223 million), though the increase was mainly due to a tax rebate of some $9 million.
Overall attendance at CinemaxX theaters was down by 7.1 percent but pricier 3D tickets made up for the difference.
For 2012, the company is forecasting an increase in ticket sales but, without the one-off tax rebate, for operating profits to below below last year's figures.