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CINEWORLD GROUP plc Preliminary Results for the year ended 31 December 2020 Cineworld Group plc ( " the Group " ) presents its preliminary results for the year ended 31 December 2020. These results are presented in US Dollars . Summary . . . Operating loss of ( $ 2,257.7m ) ( 2019 : profit of $ 724.7m ) which has been impacted by asset impairments of $ 1,344.5m Raised $ 810.8m additional liquidity during the period , including issuance of equity warrants Obtained Group leverage covenant waivers until June 2022 and are currently operating under a minimum liquidity covenant Additional Liquidity Secured The COVID - 19 global pandemic has significantly impacted the industry and the Group's results for the period , with all sites across the Group being temporarily closed from mid - March 2020 All sites remain closed as at the date of these results , with re - opening in the US anticipated from 2 April 2021 Group revenue of $ 852.3m ( 2019 : $ 4,369.7m ) and Group Adjusted EBITDA ( loss of $ 115.1m ) ( 2019 : profit of $ 1,580.3m ) for the period was severely impacted by these closures . Management's main priorities have been the safety of customers and employees , liquidity , cash preservation and costs reduction . Announcement of a binding commitment from a group of institutional investors for a new $ 213m Convertible Bond due 2025 In parallel , the Group announces that it will today publish and post ( or otherwise make available ) to shareholders a circular ( the " Circular " ) containing a Notice of General Meeting convening a general meeting to seek shareholder approval of a resolution temporarily suspending the borrowing limit in Cineworld's Articles of Association . Outlook Together with the expected $ 200m US Cares Act Tax refund provides the Group with additional liquidity for reopening and any further closure periods Anticipated cinema re - opening from 2 April in the US , 17 May in the UK and May 2021 in ROW supported by a strong pipeline of movies and current indication that government restrictions will be lifted Strong pent - up demand for affordable out - of - home entertainment anticipated post re - opening due to the COVID - 19 pandemic as indicated by the theatrical industry performing well in re - opened markets such as China , Japan and Australia There can be no certainty as to the future impact of COVID - 19 on the Group . Governments strengthening of restrictions on social gathering may lead to closure of cinemas or studios delaying movie releases . This would have a negative impact on the Group's financial performance and likely require the need to raise additional liquidity . The material uncertainties , as well as some one - off cash flow impacts on the Group are highlighted within the going concern statement in these results Key Financial Information Admissions Revenue Adjusted EBITDA ( ¹ ) ( Loss ) / profit before tax Adjusted ( loss ) / profit before tax ( ¹ ) ( Loss ) / profit after tax Adjusted ( loss ) / profit after tax ( ¹ ) Statutory Year ended 31 December 2020 ( under IFRS 16 ) 54.4m $ 852.3m ( $ 115.1m ) ( $ 3,007.9m ) ( $ 1,326.9m ) ( $ 2,651.5m ) ( $ 913.2m ) Basic EPS Diluted EPS Adjusted diluted EPS ( 1 ) ( 1 ) Refer to Notes 2 and 5 for the full definition and reconciliation . ( $ 193.2c ) ( $ 193.2c ) ( $ 66.5c ) Statutory Year ended 31 December 2019 ( under IFRS 16 ) 275.0m $ 4,369.7m $ 1,580.3m $ 212.3m $ 355.4m $ 180.3m $ 293.0m 13.1c 13.1c 21.3c 2020 Statutory results vs. 2019 ( 80.2 % ) ( 80.5 % ) ( 107.2 % ) Year ended 31 December 2020 ( under IAS 17 ) 54.4m $ 852.3m ( $ 651.6m ) Year ended 31 December 2019 ( under IAS 17 ) 275.0m $ 4,369.7m $ 1,032.6m