Reports Q4 revenue $45.3M vs. $47.2M last year. President and Chief Executive Officer, Ellen Cotter said, “We’re pleased again with our year-over-year top line progress post-pandemic. Not only did we deliver our highest Total Revenues since the pandemic’s start, but also the highest operating income and, excluding 2021 when we delivered $144.7 million in gross real estate asset sales, the highest EBITDA since the start of the pandemic. Disappointingly, the 2023 Hollywood Strikes impacted our cinema revenues given the delays in major studio releases in 2023 and continuing into Q1 2024. However, we believe that the impacts of the Hollywood Strikes are temporary and more and better film releases should commence toward the end of 2024 and into 2025, driving, we hope, better cinema revenues for us. The 2025 movie release schedule looks exciting and encouraging. Disney’s line-up includes almost double the number of releases compared to 2024 and should benefit greatly from Disney’s reported re-focus on creativity and novel storylines. Additionally, in 2025, James Cameron will deliver Avatar 3, Tom Cruise returns in Mission: Impossible 8, Universal will release a new Jurassic World film and Warner Bros. will release James Gunn’s Superman from DC Studios. As our global cinema business continues its recovery, our real estate operations strengthen and we navigate current global economic challenges, our ‘two business/three country’ diversified business structure, together with our dedicated global executive and employee team, will continue to serve as the foundation for our Company’s ability to deliver long-term value for our stockholders.”
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