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MarketScreener Homepage  >  Equities  >  Euronext Bruxelles  >  Kinepolis Group SA    KIN   BE0974274061

KINEPOLIS GROUP SA

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Popcorn-on-demand: Belgian cinema chain gets creative amid pandemic

02/25/2021 | 11:49am EDT

Feb 25 (Reuters) - Unconventional ideas such as popcorn deliveries could help cinemas get through the coronavirus pandemic, the head of Belgian cinema group Kinepolis said on Thursday.

The pandemic has battered the industry, with many cinemas forced to close, restrict screenings or ban sales of snacks, while major studios move releases straight to home streaming platforms, dealing another blow to the box office.

As Hollywood waits for cinemas - a core part of the movie value chain - to reopen, many studios have delayed hotly-anticipated blockbusters, such as James Bond's "No Time to Die".

For Kinepolis, which operates over 100 cinemas across Europe and North America, that brought its first annual loss in at least 13 years, with sales down 68%.

But as he commented on 2020 results, the group's chief executive Eddy Duquenne said it was working on a number of new iniatives to limit the damage - including drive-ins, private screenings and popcorn delivery via Uber Eats.

He said Kinepolis started testing popcorn deliveries in Belgium, its home market, after a customer in Canada's Yukon territory walked in and asked the manager if she could buy popcorn without a cinema ticket.

"Essentially in Canada, it looks rather promising," he told analysts, noting a $3 million boost at sites where they ran deliveries, possibly inflated by hungry customers held in home lockdowns.

Duquenne said that rather seeing themselves in direct competitions with streaming platforms such as Netflix, cinemas should focus on improving the quality of their selection amid massive offerings: "We need to become the sommelier of the movie."

Duquenne anticipated a resilient business ahead, with a strong line-up on the back of postponed blockbusters, as people emerge from lockdowns eager to enjoy each other's company.

"It's "No Time to Die", neither for Kinepolis nor the industy," he said.

(Reporting by Sarah Morland and Enrico Sciacovelli in Gdansk Editing by Tomasz Janowski)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
KINEPOLIS GROUP SA 1.94% 46.2 Real-time Quote.32.95%
NETFLIX, INC. 0.13% 555.31 Delayed Quote.2.70%
All news about KINEPOLIS GROUP SA
04/08KINEPOLIS GROUP  : publishes 2020 annual report
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02/25POPCORN-ON-DEMAND : Belgian cinema chain gets creative amid pandemic
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02/25KINEPOLIS  : limits cash burn in 2020 and maintains a solid financial basis thro..
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02/25KINEPOLIS GROUP SA  : Annual results
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01/12KINEPOLIS  : Takes Additional $97.2 Million Loan Amid Extended COVID-19 Lockdown
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01/11KINEPOLIS  : secures 3-year bank credit of EUR 80 million
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2020KINEPOLIS  : Publication of a transparency notification
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2020KINEPOLIS GROUP SA  : Admission of new securities
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2020BUSINESS UPDATE Q3 2020 : Kinepolis stands strong amid COVID-19 crisis
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2020BUSINESS UPDATE Q3 2020 : Kinepolis stands strong amid COVID-19 crisis
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More news
Financials
Sales 2020 179 M 213 M 213 M
Net income 2020 -68,0 M -80,9 M -80,9 M
Net Debt 2020 521 M 620 M 620 M
P/E ratio 2020 -18,2x
Yield 2020 0,09%
Capitalization 1 242 M 1 476 M 1 477 M
EV / Sales 2020 9,87x
EV / Sales 2021 4,71x
Nbr of Employees 4 600
Free-Float 47,0%
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 3
Average target price 45,33 €
Last Close Price 46,20 €
Spread / Highest target 6,06%
Spread / Average Target -1,88%
Spread / Lowest Target -9,09%
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Managers and Directors
NameTitle
Eddy Duquenne Chief Executive Officer & Executive Director
Nicolas de Clercq Chief Financial Officer
Joost Bert Chairman
Marion Debruyne Independent Director
Ignace van Doorselaere Independent Non-Executive Director
Sector and Competitors