Belgian cinema group Kinepolis drawn into the red by Covid-19
Thursday, 20 August 2020
Belgian cinema chain Kinepolis recorded losses during the first six months of the year due to the coronavirus crisis, the cinema group announces on Thursday.
The virus forced Kinepolis to close its cinemas for months. It was not until June that a cautious restart followed.
As a result, the group saw the number of visitors drop by 54.1% to 8.1 million. Turnover fell by 52.7% to €112.6 million. The adjusted EBITDA – the profit before interest, taxes, depreciation and amortisation – came to €16.4 million, a decrease of 76.6%. A net loss of 29.7 million euros remained after six months. A year earlier, a profit of 18.8 million euros remained.