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AMC ENTERTAINMENT HOLDINGS INC (AMC)
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AMC Entertainment : China's Dalian Wanda Group posts revenue drop for third straight year

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01/12/2019 | 06:32am EST
A sign of Dalian Wanda Group in China glows during an event announcing strategic partnership between Wanda Group and FIFA in Beijing

SHANGHAI (Reuters) - Chinese conglomerate Dalian Wanda Group's revenue fell by 5.7 percent in 2018 as the company sought to relieve debt pressure by offloading domestic and overseas holdings amid a government crackdown on leverage and overseas acquisitions.

Total group revenues were 214.28 billion yuan ($31.70 billion), the company said on Saturday in a statement on its official WeChat account. It was the third consecutive year of falling revenues for the group.

The company did not disclose information about its profits for the year but said total assets fell 11.5 percent to 625.73 billion yuan.

Owned by tycoon Wang Jianlin, one of China's richest men, Wanda has been squeezed by government pressure to cut down on what Beijing sees as irrational overseas deals.

Last year it offloaded stakes in cinema operator AMC Entertainment and Spanish soccer club Atletico Madrid, as well as some property developments.

The company recently filed for a U.S. initial public offering of its sports unit.

(Reporting by Andrew Galbraith; Editing by Kirsten Donovan)

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Financials ($)
Sales 2018 5 446 M
EBIT 2018 272 M
Net income 2018 -46,6 M
Debt 2018 5 001 M
Yield 2018 9,55%
P/E ratio 2018 -
P/E ratio 2019 35,16
EV / Sales 2018 1,19x
EV / Sales 2019 1,15x
Capitalization 1 497 M
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 21,5 $
Spread / Average Target 49%
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Managers
NameTitle
Adam M. Aron President, Chief Executive Officer & Director
Mao Jun Zeng Non-Executive Chairman
Craig R. Ramsey Chief Financial Officer & Executive Vice President
Anthony J. Saich Independent Director
Lloyd L. Hill Independent Director
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