Earnings release
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Cineworld Group plc Trading Update Released : 15.11.2021 RNS Number : 3102S Cineworld Group plc 15 November 2021 FOR IMMEDIATE RELEASE 15 November 2021 Cineworld Group plc ( " Cineworld " or the " Group " ) Trading Update Cineworld , the second largest cinema exhibitor in the world with operations in 10 countries including the United States and the United Kingdom and 752 sites and 9,193 screens globally , today provides the following update on trading across the Group for the four months ended 31 October 2021. This follows a period of unprecedented disruption in our industry and the world at large . Since reopening our estate in April 2021 , performance and attendances have steadily grown and this has resulted in revenue growth as seen in the table below . Customer demand has been particularly strong in a number of the Group's markets , in some cases even above the levels experienced in 2019 . Box office and Concession revenue ( 1 ) performance vs. 2019 were as follows : 2021 vs 2019 Jul Aug Sep Group United States 50 % 45 % UK and Ireland ROW ( 1 ) Constant currency revenue 54 % 79 % 54 % 45 % 76 % 70 % 60 % 54 % 72 % 78 % Oct 90 % 80 % 127 % 84 % This recovery has been driven by an excellent slate of movies including " Black Widow " , " Shang - Chi and the Legend of the Ten Rings " , " Venom " , " No Time to Die " and " Dune " . There are still major blockbusters to be released in 2021 including " Ghostbusters : Afterlife " , " Encanto " , " Spider - Man : No Way Home " , " The King's Man " , " Sing 2 " and " The Matrix Resurrections " , which we anticipate will perform very well subject to there being no deterioration in the COVID - 19 situation . This revenue performance has been underpinned by discipline on costs where the company has been focused on streamlining operations wherever possible , although we have seen some inflationary cost increases . As a result of this improvement in revenue and the cost measures implemented , the Group generated positive cash flow in October , an important milestone in the Company's recovery . Mooky Greidinger , CEO commented : " We are thrilled to see audiences returning in significant numbers . Our partnerships with the studios are as strong as ever and with the incredible movie slate to come , there are real grounds for optimism in our industry . I would especially highlight the great performances we saw from our newly refurbished cinemas in the US . These new cinemas clearly support our strategy to enhance the cinema experience for all our customers . I am really proud of the extraordinary efforts that everybody in the business has made to manage this company during an unprecedented time . Whilst there are challenges ahead , I believe these efforts have positioned us for great success in the future and we are all looking forward to continuing to welcome our customers to the best place to watch a movie " .