PLANO, Texas--(BUSINESS WIRE)--Cinemark Holdings, Inc. (NYSE: CNK), one of the largest motion picture exhibitors in the world, today reported results for the three and twelve months ended December 31, 2020. The Company’s financial results continue to be significantly impacted by the COVID-19 pandemic, as the Company’s theatres were closed for an extended period of time beginning in March 2020. The Company began reopening domestic theatres in June 2020 and international theatres in August 2020, following enhanced health and safety protocols. As of December 31, 2020, the Company had 217 domestic and 129 international theatres open to limited hours, showing library content and some new releases with some limitations on capacities. During the three months ended December 31, 2020, attendance was 6.6 million patrons, average ticket price was $7.42 and concession revenues per patron was $4.75. Admissions revenues were $49.1 million, concession revenues were $31.5 million and total revenues were $98.2 million for the three months ended December 31, 2020.
Net loss attributable to Cinemark Holdings, Inc. for the three months ended December 31, 2020 was $(239.3) million. Diluted loss per share for the three months ended December 31, 2020 was $(2.03) and Adjusted EBITDA for the three months ended December 31, 2020 was $(97.5) million. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release and at investors.cinemark.com.
“It is almost unfathomable that one year ago, we were reporting Cinemark’s fifth consecutive year of record results with the North American industry touting the second-highest grossing box office of all-time,” stated Mark Zoradi, Cinemark CEO. “While COVID-19 has caused significant distress to our industry and our company, Cinemark has maintained discipline and consistency, while demonstrating relentless perseverance and agility.”
Mr. Zoradi continued, “We remain highly confident in the rebound of our industry once the virus is more contained, as evidenced by recent box office results in China, Japan and Australia. Cinemark was well-positioned heading into the crisis, and we have adapted and evolved the way we operate to navigate the current environment, and to ensure we remain successful and further solidify our leadership position as theatrical moviegoing resurges.”
Cinemark Holdings, Inc.’s total revenues for the twelve months ended December 31, 2020 were $686.3 million compared to $3,283.1 million for the twelve months ended December 31, 2019. For the twelve months ended December 31, 2020, admissions revenues were $356.5 million and concession revenues were $231.0 million. For the twelve months ended December 31, 2020, attendance was 54.3 million patrons, average ticket price was $6.57 and concession revenues per patron were $4.26.
Net loss attributable to Cinemark Holdings, Inc. for the twelve months ended December 31, 2020 was $(616.8) million compared to net income attributable to Cinemark Holdings, Inc. of $191.4 million for the twelve months ended December 31, 2019. Diluted loss per share for the twelve months ended December 31, 2020 was $(5.25) compared to diluted earnings per share of $1.63 for the twelve months ended December 31, 2019.
Adjusted EBITDA for the twelve months ended December 31, 2020 was $(276.9) million compared to $745.0 million for the twelve months ended December 31, 2019. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release and at investors.cinemark.com.
As of December 31, 2020, the Company’s aggregate screen count was 5,958 and the Company currently has commitments to open six new theatres and 72 screens during 2021 and 13 new theatres and 123 screens subsequent to 2021.
About Cinemark Holdings, Inc.
Headquartered in Plano, TX, Cinemark (NYSE: CNK) is one of the largest and most influential movie theatre companies in the world. Cinemark’s circuit, comprised of various brands that also include Century, Tinseltown and Rave, operates 531 theatres with 5,958 screens in 42 states domestically and 15 countries throughout South and Central America. Cinemark consistently provides an extraordinary guest experience from the initial ticket purchase to the closing credits, including Movie Club, the first U.S. exhibitor-launched subscription program; the highest Luxury Lounger recliner seat penetration among the major players; XD - the No. 1 exhibitor-brand premium large format; and expansive food and beverage options to further enhance the moviegoing experience. For more information go to https://investors.cinemark.com/
