Cinemark Holdings, Inc. Reports Fifth Consecutive Year of Record Worldwide Revenues and Dividend Increase

Increases Dividend 6% to $1.44 per Annum

(February 21, 2020) – Cinemark Holdings, Inc. (NYSE: CNK), one of the largest motion picture exhibitors in the world, today reported results for the three and twelve months ended December 31, 2019 and announced that its Board of Directors has increased its cash dividend by $0.08 to $1.44 per share of common stock on an annualized basis, effective immediately. The fourth quarter dividend of $0.36 per share of common stock will be paid on March 20, 2020 to stockholders of record on March 6, 2020.

Cinemark Holdings, Inc.’s total revenues for the three months ended December 31, 2019 was $788.8 million compared to $798.6 million for the three months ended December 31, 2018. For the three months ended December 31, 2019, admissions revenues were $434.2 million and concession revenues were $275.0 million. For the three months ended December 31, 2019, attendance was 63.8 million patrons, average ticket price increased 3.2% to $6.81 and concession revenues per patron increased 4.6% to $4.31.

Net income attributable to Cinemark Holdings, Inc. for the three months ended December 31, 2019 increased to $26.3 million from $19.4 million for the three months ended December 31, 2018. Diluted earnings per share for the three months ended December 31, 2019 was $0.22 compared to $0.17 for the three months ended December 31, 2018.

Adjusted EBITDA for the three months ended December 31, 2019 was $178.3 million compared to $198.1 million for the three months ended December 31, 2018. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release and at investors.cinemark.com.

“We are extremely pleased to report our fifth consecutive year of record global revenues, as well as our fifth consecutive annual dividend increase,” stated Mark Zoradi, Cinemark’s Chief Executive Officer. “Continued benefits derived from our strategic initiatives enabled us to surpass North American industry box office results by 200 bps in 2019, and our consistent financial strength gave our Board of Directors confidence to approve an $0.08 increase to our dividend to $1.44 per annum, which has now grown 33% over the past five years.”

Cinemark Holdings, Inc.’s total revenues for the twelve months ended December 31, 2019 increased 1.9% to $3,283.1 million from $3,221.8 million for the twelve months ended December 31, 2018. For the twelve months ended December 31, 2019, admissions revenues were $1,805.3 million and concession revenues increased 4.7% to $1,161.1 million. For the twelve months ended December 31, 2019, attendance was 279.6 million patrons, average ticket price was $6.46 and concession revenues per patron increased 5.6% to $4.15.

Net income attributable to Cinemark Holdings, Inc. for the twelve months ended December 31, 2019 was $191.4 million compared to $213.8 million for the twelve months ended December 31, 2018. Diluted earnings per share for the twelve months ended December 31, 2019 was $1.63 compared to $1.83 for the twelve months ended December 31, 2018.

Adjusted EBITDA for the twelve months ended December 31, 2019 was $745.0 million compared to $781.5 million for the twelve months ended December 31, 2018. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release and at investors.cinemark.com.

As of December 31, 2019, the Company’s aggregate screen count was 6,132 and the Company had commitments to open 13 new theatres and 150 screens in 2020 and 10 new theatres and 93 screens subsequent to 2020.

About Cinemark Holdings, Inc.
Headquartered in Plano, TX, Cinemark (NYSE: CNK) is one of the largest and most influential movie theatre companies in the world. Cinemark’s circuit, comprised of various brands that also include Century, Tinseltown and Rave, operates 554 theatres with 6,132 screens in 42 states domestically and 15 countries throughout South and Central America. Cinemark consistently provides an extraordinary guest experience from the initial ticket purchase to the closing credits, including Movie Club, the first U.S. exhibitor-launched subscription program; the highest Luxury Lounger recliner seat penetration among the major players; XD – the No. 1 exhibitor-brand premium large format; and expansive food and beverage options to further enhance the moviegoing experience. For more information go to https://investors.cinemark.com/

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