CGV Cinemas Posts Rp11.5 Billion Profit at the End of Q3 2024
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From the beginning of the year to the end of the third quarter of 2024, or the January-September period, PT Graha Layar Prima Tbk (BLTZ), which manages the CGV Cinemas cinema network, recorded a year-to-date profit of Rp11.51 billion.
This is a turnaround from January-September last year, when they incurred a loss of Rp37.49 billion.
BLTZ's positive performance in January-September 2024 was supported by revenue growth of 12.19% (year-on-year/yoy) to Rp893.98 billion.
Positive growth occurred in almost all segments of CGV Cinemas' revenue.
In January-September 2024, their cinema revenue increased by 13.89% (yoy) to Rp566.17 billion.
Food and beverage revenue increased by 16.13% (yoy) to Rp279.57 billion; and licensing and management services increased by 115.72% (yoy) to Rp118.83 million.
However, revenue from events and advertising decreased by 18.29% (yoy) to Rp48.12 billion.
By the end of September 2024, the BLTZ-coded issuer had current assets of Rp322.50 billion, an increase of 15.90% compared to the end of December 2023, which was valued at Rp278.24 billion.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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