Results
Kinepolis achieved record results last year. In the first full year without corona measures, the cinema chain achieved 21.1 percent more turnover than in 2022 and doubled its net profit. Yet visitor numbers are not yet at pre-pandemic levels.
Kinepolis’ turnover in 2022 amounted to 605.5 million euros, the net profit to 56.1 million. “Kinepolis has completely put the Covid episode behind it,” is the group’s conclusion. There were more than 20 percent more visitors, and the amount per visitor also increased.
The fact that a film lover earns Kinepolis more is partly due to investments in what the company itself calls “premiumization”. Customers pay extra for more spacious “cozy seats” or Imax image quality. “We sold more premium products than ever and customer satisfaction shows that the customer appreciates the experience offered. We will continue to focus on this,” says CEO Eddy Duquenne.
Visitor figures are not yet at the level of 2019, the year before the corona pandemic. In Belgium, for example, the eleven Kinepolis cinemas attracted 6.39 million visitors last year, compared to 8.12 million in 2019 and 7.99 million the year before.
Kinepolis says that Hollywood is delivering fewer films than before the pandemic. After an exceptionally good summer, with the hits Barbie and Oppenheimer, a weaker fourth quarter followed. That had to do with the strike in Hollywood. As a result, the blockbuster Dune: part two was postponed to 2024.
