Cinema XXI’s Net Profit Increases 95.7% in the First Semester of 2024
- Cinema XXI recorded a 94% increase in net profit after the minority interest from IDR200.7 billion in the first semester of 2023 to IDR389.2 billion in the first semester of 2024.
- Total admissions in the first six months of 2024 reached 46.5 million, a 26% increase compared to the same period last year. National movies contributed 64.6% of the total admissions.
Jakarta, July 26 2024 – PT Nusantara Sejahtera Raya Tbk (Cinema XXI, stock code: CNMA) recorded positive growth throughout the first semester of 2024. The company's revenue reached IDR2.9 trillion, marking a 21.8% increase from the first semester of 2023, which recorded IDR2.4 trillion. Cinema XXI also achieved a net profit of IDR424.5 billion, reflecting a 95.7% growth compared to IDR216.9 billion in the same period last year. In addition, Cinema XXI's EBITDA reached IDR927.5 billion, marking a 36.2% increase compared to the same period in 2023.
Cinema XXI President Director Suryo Suherman stated that the positive performance in the first half of 2024 was achieved by implementing a comprehensive business strategy and strengthening business fundamentals. “This performance growth reflects the cinema industry being on the right track following the post-pandemic recovery,” said Suryo.
During Semester I of 2024, Cinema XXI is focused on optimizing the company's performance. This includes adding new cinema screens and improving the quality of cinema services to increase total admissions. “Cinema XXI's current revenue is still primarily driven by cinema ticket sales, which contribute 63% to the total revenue. Currently, revenue from the food and beverage business line contributes 33% to the total revenue,” said Suryo.
Compared to the previous year, in Semester I 2024, total admissions increased by 26.2%, reaching 46.5 million from 36.9 million in Semester I 2023. “This demonstrates that the movie-going habit in cinemas continues to be favored by Indonesian audiences post-pandemic. What's even more encouraging is that in Semester I 2024, national movies accounted for 64.6% of the total admissions. This indicates strong support and appreciation for national movies among the Indonesian people. Therefore, Cinema XXI remains committed to providing the best movie-going experience and to supporting the development of the Indonesian film industry,” said Suryo.
Suryo mentioned that the strategy to expand the cinema network to 8 new locations and add 37 new screens, including 6 IMAX® studios in the first half of this year, had a positive impact on the Company's performance. As of June 30, 2024, Cinema XXI has operated 248 cinemas with a total of 1,317 screens in 61 cities/regencies across Indonesia. "The addition of Cinema XXI locations in various regions of Indonesia aligns with our commitment to providing the widest possible access to affordable movie watching for all Indonesian people. Cinema XXI will continue to open new cinema locations throughout the year," said Suryo.
According to cinepoint.com, 10 national movies have been watched by more than 1 million viewers across all cinema chains in Indonesia throughout 2024, including:
| No | Movie Title | Total Admissions |
|---|---|---|
| 1 | Agak Laen | 9,125,188 |
| 2 | Vina: Sebelum 7 Hari | 5,815,403 |
| 3 | Ipar Adalah Maut | 4,727,315 |
| 4 | Badarawuhi di Desa Penari | 4,013,558 |
| 5 | Siksa Kubur | 4,000,826 |
| 6 | Sekawan Limo | 2,167,020 |
| 7 | Pemandi Jenazah | 1,645,513 |
| 8 | Ancika: Dia yang Bersamaku | 1,318,272 |
| 9 | The Architecture of Love | 1,003,999 |
| 10 | Kereta Berdarah | 1,000,027 |
Source: cinepoint.com as of July 25, 2024
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About Cinema XXI
Cinema XXI, operates under the auspices of PT Nusantara Sejahtera Raya Tbk, is the largest cinema chain operator in Indonesia with more than 35 years of experience in the film exhibition industry. Cinema XXI is committed to always providing the best moviegoing experience and convenience for the people of Indonesia. As of June 30, 2024, Cinema XXI has presented 1,317 screens in 248 cinema locations across 61 cities/regencies throughout Indonesia.
In 2006, Cinema XXI launched m.tix to facilitate SMS-based cinema ticket ordering which was then developed into an online-based application. In 2012, Cinema XXI presented a movie-viewing experience with revolutionary technology, namely the IMAX theater. To better improve the services given to customers, Cinema XXI has also equipped the theaters with the latest "Dolby Atmos" audio system, which is now available on 75 screens.
Not only a place to watch movies, Cinema XXI is also a second home for people to spend quality time with family and friends. Cinema XXI presents an unforgettable moviegoing experience for today and tomorrow. For three consecutive years in 2017, 2018, and 2019 Cinema XXI has been awarded the "World Branding Award" in Kensington, London as the Best Brand in the Entertainment Cinema Category (National Tier). In early 2019, Cinema XXI was also been awarded the "Millennials Top Brand Awards" by one of the preferred media of Indonesia’s young generation as the first choice of millennials for the category of leading cinema network in Indonesia. Despite the pandemic condition, in 2020, Cinema XXI was named "Industry Champion of the Year" by the Asia Corporate Excellence and Sustainability (ACES) Awards and “Indonesia Best Managed Company” by Deloitte in 2023.