Cinema XXI Raises Revenue Of IDR 5.2 Trillion During 2023

JAKARTA - PT Nusantara Sejahtera Raya Tbk (Cinema XXI) during 2023 managed to reap a total revenue of IDR 5.2 trillion thanks to solid performance in the field of operations and finance.

"The total revenue of Cinema XXI throughout 2023 comes from the contribution of cinema ticket sales of 60 percent, food and beverage products of 35.4 percent, digital platforms of two percent, and advertisements of 1.9 percent," said Cinema XXI President Director Hans Gunadi as quoted by ANTARA from the company's press release, Saturday, March 9.

Hans said the company's revenue during 2023 increased 18.9 percent from IDR 4.4 trillion in the previous year.

The company during 2023 received revenue before interest, tax, depreciation, and amortization (Earnings Before Interest, Taxes, Depreciation, and Amortization/EBITDA) of IDR 1.7 trillion and net taxes after tax of IDR 742.3 billion, an increase of 47.1 percent compared to 2022.

Hans said Cinema XXI continues to improve services to film lovers, including by opening cinemas in new locations to increase access for the public to watch movies.

Meanwhile, Director of Cinema XXI Arif Suherman said the increase in the number of cinemagoers was reflected, among others, in revenue from food and beverage business lines, which in 2023 grew 29.3 percent to Rp2.0 trillion from Rp1.6 trillion in the previous year.

"We are committed to continuing to present innovations in a series of quality foods and drinks to further complement the comfort of watching films at Cinema XXI," he said.