Press release Warsaw, 1 July 2011
Cinema City awarded the title "International Exhibitor of the Year"
Moshe Greidinger receives the highest award of the cinema industry in Amsterdam
Moshe (Mooky) Greidinger received yesterday the award "International Exhibitor of the Year" granted by European theatrical community during CineEurope in Amsterdam, the largest convention of cinema industry in Europe. This is the second award for Cinema City following the title "International Exhibitor of the Year" received in 2004 in Las Vegas during ShoWest convention.
"It's a great feeling to receive this title and to receive it for the second time. This is the highest recognition from the industry for all Cinema City team. We believe very strong in bringing modern multiplexes and best standard of services to territories thirsty for good exhibition." said Moshe (Mooky) Greidinger, CEO of Cinema City, the largest multiplex cinema operator in Central & Eastern Europe and in Israel. "We are now operating close to 900 screens in 7 countries and we came a long way from the beginning of our business and a long way even from 2004, when we were running 350 screens in 4 countries. The greatest potential to expand this business lies in emerging countries, where cinema going levels are much behind mature markets. We will be continuing our expansion as there is still so many empty places on the map."
"It is a great pleasure for CineEurope to be able to acknowledge and pay tribute to Mooky Greidinger, who heads up the leading cinema circuits in Israel and Central and Eastern Europe," noted CineEurope managing director Robert Sunshine. "From its humble beginnings as a family business and the first cinema in Haifa, Israel, to the launch of the first multiplex in Israel to their expansion into Europe, Cinema City International are cinema exhibition forces to be reckoned with."
Cinema City International is the largest multiplex cinema operator in Central & Eastern Europe and in Israel. The Company operates 93 multiplexes with 885 screens, in 7 countries: Poland, the Czech Republic, Hungary, Romania, Bulgaria, Slovakia and Israel. In the beginning of the year the Company boosted its screen count by 141 screens through acquisition of the Palace Cinemas chain in the Czech Republic, Hungary and Slovakia. Cinema City is also actively involved in cinema related advertising through New Age Media and film distribution through Forum Film companies, its wholly owned subsidiaries. Cinema City is the fastest growing cinema chain in Europe having binding lease agreements for 35 more multiplexes, which will offer approximately 360 new screens, which are planned to be opened mostly in the coming 2-3 years. The major portion of openings will be in Romania, where in 2010 the admission per capita ratio stood at 0.3.
In 2010 Cinema City reached EUR 235 million cinema related revenues (24.4% more over 2009), EBITDA of EUR 56 million (21.1% over 2009) and EUR 30.4 million net profit (24.5% over 2009). The company sold 30.5 million tickets in six countries. The Cinema City group employs over 4,000 people in 7 countries.
Investor Relations
Cinema City International NV
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