Cinema XXI Earns IDR 529.8 Billion Profit In The Third Quarter Of 2024

Illustration (Photo: Doc Antara)

JAKARTA - PT Nusantara Sejahtera Raya Tbk (Cinema XXI) posted a net profit of IDR 529.8 billion, an increase of 36.6 percent on an annual basis (yoy) in the third quarter of 2024.

Meanwhile, revenue was recorded at IDR 4.3 trillion or a total of 12.1 percent compared to the same period last year.

"Clean traffic after the tax earned reached Rp529.8 billion, an increase of 36.6 percent year on year (yoy), and EBITDA increased by 17.9 percent yoy to Rp1.3 trillion," said Cinema XXI President Director Suryo Suherman as reported by ANTARA, Monday, October 28.

Suryo explained that the company's positive performance growth with the issuer code: CNMA was achieved thanks to the implementation of an effective and always adaptive business strategy to market demand.

In addition, the company also continues to expand in various regions in Indonesia.

"The revenue of Cinema XXI until the third quarter of 2024 is supported by the contribution of cinema ticket sales which is increasing in line with the company's commitment to continue to increase the number of cinema screens in line with the increasing public interest in watching movies in cinemas in various regions in Indonesia," he said.

As of September 30, 2024, the number of viewers at Cinema XXI was 66.1 million viewers, an increase of 11.8 percent compared to the same period last year.

The increase in the number of viewers boosted revenue from cinema ticket sales to IDR 2.67 trillion, or contributed 63 percent of total revenue.

Meanwhile, revenue from the food and beverage product business line is IDR 1.44 trillion or contributes 34 percent of the total revenue.

With this solid performance achievement, Cinema XXI plans to distribute interim dividends to all company shareholders.

The interim dividend is scheduled to be distributed on November 15, 2024, with a total value of IDR 416.7 billion or IDR 5 per share.

"This distribution of interim dividends is a tangible manifestation of the company's commitment to provide added value for all shareholders," explained Suryo.

To continue to improve the company's performance, as well as in the context of expanding viewing access for all Indonesian people, Cinema XXI will continue to expand to various regions in Indonesia.

Until the end of September 2024, Cinema XXI has added 42 new screens spread across various regions so that people who previously could not access cinemas in their area can now watch the best films at Cinema XXI.

Therefore, the company as of September 30, 2024 has operated 249 cinemas with a total of 1,322 screens in 61 cities throughout Indonesia.

"We always innovate to keep up with the development of the country's film industry and ensure that people can experience quality viewing without compromise at affordable prices," concluded Suryo.