Cinema XXI Reports IDR5.7 Trillion in Revenue for 2024, Strengthening Its Position in the Indonesian Cinema Industry
- Cinema XXI's revenue grew 9.2% compared to 2023, reaching IDR5.7 trillion
- In 2024, Cinema XXI opened 16 new locations, adding 70 new screens, bringing the total number of operating cinemas to 256, with 1,350 screens across 65 cities and regencies.
- Cinema XXI plans to conduct a share buyback of up to IDR300 billion to increase shareholder value.
Jakarta, February 27, 2025 – PT Nusantara Sejahtera Raya Tbk (Cinema XXI, stock code: CNMA) reported a revenue of IDR5.7 trillion as of December 31, 2024. This reflects an increase of 9.2% compared to IDR5.2 trillion for the same period in 2023. Net profit after tax rose to IDR802.5 billion, recorded an 8.1% increase from IDR742.3 billion in 2023. The Company's EBITDA for the year reached IDR1.8 trillion.
As Indonesia's largest cinema chain operator, with more than 36 years of experience, Cinema XXI remains dedicated to sustaining its performance growth by enhancing service quality for consumers. "Cinema XXI expresses our gratitude to our audience and all stakeholders—including the film industry, government, shareholders, and business partners—for their unwavering support. Their continued support has allowed the company to grow and achieve positive performance throughout 2024," stated Suryo Suherman, President Director of Cinema XXI.
Suryo stated that the revenue increase in 2024 was driven by the sales of movie tickets and food and beverages, reaching IDR5.5 trillion, or grew by 9.8% compared to the previous year. This sales growth resulted from various innovations and business strategies, such as opening new cinemas in strategic locations, diversifying food and beverage menus to cater audience preferences, and implementing effective and targeted promotional programs.
In 2024, Cinema XXI opened 16 new cinema locations and added 70 screens to enhance service access and foster business growth. The total number of cinemas operated reached 256, with 1,350 screens in 65 cities and regencies throughout Indonesia. This expansion of the cinema network also contributed to an increase in total admissions, reaching 87.1 million in 2024, grew by 3.3% from 84.3 million in 2023.
“Despite the challenges in recovering the international film market, the domestic film industry in Indonesia has produced a diverse array of quality films that support the cinema industry's growth. This has also led to an increase in Cinema XXI’s total admission, contributing to the Company's revenue growth," said Suryo.
The domestic film industry is showing a positive trend by offering a variety of stories and high-quality productions that attract audiences. In 2024, 21 national movies surpassed one million viewers each, and 7 out of the 10 most-watched movies of the year were domestic titles. Notable movies include "Agak Laen," "Vina Sebelum 7 Hari," "Kang Mak: From Pee Mak," "Ipar Adalah Maut," "Badarawuhi di Desa Penari," and "Siksa Kubur." This trend solidifies the position of domestic movies as the preferred choice among viewers, contributing to an increase in total admissions.
The Company's Share Buyback Plan
Cinema XXI plans to conduct a share buyback of up to Rp300 billion. The buyback is driven by the fact that the current share price of the Company does not reflect its fair value, performance, and prospects. This initiative is expected to provide added value to shareholders, in addition to dividend distribution. Suryo stated, "We hope that the buyback will enhance investor confidence in Cinema XXI's fundamental value and provide flexibility in long-term capital management."
The Company limits the buyback price to a maximum of IDR270 per share while ensuring compliance with the provisions of POJK 29/2023. The buyback will be conducted in stages through the Indonesia Stock Exchange (IDX), in accordance with the provisions of POJK No. 29 of 2023. Cinema XXI plans to execute the share buyback within 12 months after receiving the approval from the Annual General Meeting of Shareholders (AGMS). The AGMS will be held on March 24, 2025, and the Company must complete the buyback by March 24, 2026.
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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 36 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 December 5th, 2024, Cinema XXI has presented 1,347 screens in 255 cinema locations across 64 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 82 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 and 2024.
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