Cineplex Reports Fourth Quarter and Annual 2024 Results

TORONTO, Feb. 11, 2025 /CNW/ - (TSX: CGX) - Today, Cineplex Inc. ("Cineplex" or the "Company") released its financial results for the three months and year ended December 31, 2024. Unless otherwise specified, all amounts contained in this news release are in Canadian dollars.

Q4 2024 Highlights:

• Reported $362.7 million in revenues, a 15.1% increase over the prior year
• Achieved $40.3M in Adjusted EBITDAaL, an increase of 66.6% relative to the prior year
• Reported net income of $3.3 million, an increase of $12.3 million relative to the prior year net loss of $9.0 million
• Delivered an all-time quarterly BPP record of $13.26 and an all-time Q4 CPP record of $9.41
• Grew media revenues by 25.7% over the prior year due to expanded digital-out-of-home network and improved Cinema advertising business
• Opened 3 new Location-Based Entertainment venues and one new theatre

"2024 was a year of significant progress for our business, a year which was focused on returning long term value to shareholders," said Ellis Jacob, President and CEO, Cineplex. "The sale of Player One Amusement Group and the comprehensive re-financing plan initiatives, which closed in the first quarter of 2024, allowed us to de-leverage and optimize our capital structure. We reaffirmed our belief in the long-term success of the Company by announcing a Normal Course Issuer Bid program in Q3. We continued to invest in our diversified businesses by opening three new LBE venues in highly attractive locations in the fourth quarter, further cementing ourselves as a leader in Canadian entertainment.

Our Cineplex Digital Media network expanded in 2024 with the additions of Cadillac Fairview and Cominar, resulting in impressive year over year revenue growth. With incredible coast-to-coast penetration of Canada's shopping malls, our recent membership with the Canadian Out-Of-Home Marketing and Measurement Bureau ("COMMB"), and the highly attentive and engaged audience in our theatres, our media segment is positioned for growth through our multitude of attractive media assets to clients.

Our diversified business offerings and leading loyalty program continue to differentiate us from our peers. With a film slate that will only strengthen as we move forward, we are excited about the future and look forward to continuing the momentum into 2025." 

Fourth Quarter and Full Year Financial Results

Financial highlights		Fourth Quarter					Full Year
(in thousands of dollars, except theatre attendance in thousands of patrons and per share and per patron amounts)		2024		2023	Change (ii)		2024		2023	Change (ii)
				(i)					(i)
Total revenues	$	362,743	$	315,078	15.1 %	$	1,330,438	$	1,388,894	-4.2 %
Theatre attendance		11,141		9,599	16.1 %		42,946		47,862	-10.3 %
Net income (loss) from continuing operations	$	3,332	$	(12,102)	NM	$	(105,684)	$	138,051	NM
Net income from discontinued operations, including gain on disposition	$	—	$	3,148	-100.0 %	$	68,003	$	29,113	133.6 %
Net income (loss) (iii)	$	3,332	$	(8,954)	NM	$	(37,681)	$	167,164	NM
Net income (loss) as a percentage of sales from continuing operations (iii)		0.9 %		(3.8) %	4.7 %		-7.9 %		9.9 %	-17.8 %
Cash provided by continuing operating activities	$	105,754	$	83,385	26.8 %	$	159,079	$	196,094	-18.9 %
Box office revenues per patron ("BPP") (iv)	$	13.26	$	12.90	2.8 %	$	13.09	$	12.53	4.5 %
Concession revenues per patron ("CPP") (iv)	$	9.41	$	9.28	1.4 %	$	9.47	$	8.90	6.4 %
Adjusted EBITDA (iv)	$	84,749	$	65,902	28.6 %	$	263,925	$	322,962	-18.3 %
Adjusted EBITDAaL (iv)	$	40,275	$	24,178	66.6 %	$	93,267	$	157,363	-40.7 %
Adjusted EBITDAaL from discontinued operations (iv)	$	—	$	5,352	-100.0 %	$	508	$	35,732	-98.6 %
Adjusted EBITDAaL including discontinued operations (iv)	$	40,275	$	29,530	36.4 %	$	93,775	$	193,095	-51.4 %
Adjusted EBITDAaL margin from continuing operations (iv)		11.1 %		7.7 %	3.4 %		7.0 %		11.3 %	-4.3 %
Adjusted free cash flow (iv)	$	20,267	$	(1,047)	NM	$	(7,150)	$	83,691	NM
Adjusted free cash flow per share (iv)	$	0.320	$	(0.016)	NM	$	(0.112)	$	1.320	NM
Earnings (loss) per share from continuing operations - basic (iii)	$	0.05	$	(0.19)	NM	$	(1.66)	$	2.18	NM
Earnings per share from discontinued operations - basic	$	—	$	0.05	-100.0 %	$	1.07	$	0.46	132.6 %
Earnings (loss) per share - basic (iii)	$	0.05	$	(0.14)	NM	$	(0.59)	$	2.64	NM
Earnings (loss) per share from continuing operations - diluted (iii)	$	0.05	$	(0.19)	NM	$	(1.66)	$	1.80	NM
Earnings per share from discontinued operations - diluted	$	—	$	0.05	-100.0 %	$	1.07	$	0.32	234.4 %
Earnings (loss) per share - diluted (iii)	$	0.05	$	(0.14)	NM	$	(0.59)	$	2.12	NM
(i) The results of discontinued operations from P1AG have been excluded from prior period figures as applicable per IFRS 5 to conform to the current period presentation. All amounts are from continuing operations unless otherwise noted.
(ii) Period over period change calculated based on thousands of dollars except percentage and per share values. Changes in percentage amounts are calculated as 2024 value less 2023 value.
(iii) 2024 includes the loss on the 2024 Refinancing of $nil during the fourth quarter and $56.0 million for full year, and expenses related to other transactions or litigation outside the normal course of business in the amount of $nil during the fourth quarter (2023 - $0.6 million) and $2.5 million (2023 - $3.4 million) for full year.  The full year also includes the $39.2 million provision for the Competition Tribunal's administrative monetary penalty.
(iv) Adjusted EBITDA, adjusted EBITDAaL, adjusted EBITDAaL margin, adjusted free cash flow per common share of Cineplex, BPP and CPP are measures that do not have a standardized meaning under generally accepted accounting principles ("GAAP").  These measures as well as other Non-GAAP other financial measures reported by Cineplex are defined in the 'Non-GAAP and Other Financial Measures' section at the end of this news release.

January Box Office Results

The following table compares 2025 monthly box office revenues to 2024 monthly box office revenues:

Month	2024 Box office (i)	2025 Box office (i)	2025 as a percentage of 2024
January	$37,620	$37,454	100 %
(i) Amounts are in thousands of dollars.

KEY DEVELOPMENTS IN THE ANNUAL FINANCIAL STATEMENTS OF 2024

The following describes certain key business initiatives undertaken and results achieved during 2024 in each of Cineplex's core business areas:

FILM ENTERTAINMENT AND CONTENT

Theatre Exhibition

• Reported annual box office revenues of $562.2 million, a decrease of $37.8 million or 6.3% from $599.9 million, due to a 10.3% decrease in theatre attendance as a result of the disruption of the 2024 release schedule from the writers' and actors' strikes in 2023.
• Reported an annual record BPP of $13.09, an increase of $0.56 or 4.5% compared to the prior year of $12.53.
• Opened Cinéma Cineplex Royalmount, in Ville Mont-Royal, Quebec on November 25, 2024, a five screen theatre featuring recliner seating and laser projection.
• Closed three locations at the end of their lease terms as part of Cineplex's portfolio optimization and rationalization strategy.
• Enhanced the theatre circuit with the addition of four IMAX screens, one UltraAVX screen, three ScreenX auditoriums, and installed laser projectors at 31 auditoriums across Canada.
• The CineClub subscription program reached over 180,000 members, providing members with benefits accessible across Cineplex's businesses nationwide including Cineplex theatres and LBE venues.

Theatre Food Service

• Reported annual theatre food service revenues of $406.8 million, a decrease of $19.1 million or 4.5% compared to the prior year, primarily due to a 10.3% decrease in theatre attendance.
• Reported annual record CPP of $9.47, an increase of $0.6 or 6.4% compared to the prior year, primarily due to an increase in average spend.
• Completed the national rollout of mobile food and beverage ordering across the entire theatre circuit, allowing guests to pre-order prior to the beginning of the movie.
• Signed an agreement with DoorDash and launched nationally to provide additional home delivery services.
• Introduced the nationwide refill program in the fourth quarter of 2024, allowing customers to upgrade to a large popcorn or fountain drink and receive one eligible same day refill during the same visit.

Alternative Programming and Distribution

• As part of the theatrical distribution partnership with Lionsgate, Cineplex Pictures (Cineplex's distribution business) distributed The Strangers: Chapter 1, Imaginary, and Borderlands, as well as The Boy and the Heron from GKIDS and My Hero Academia: You're Next from Emic Media in 2024.
• Continued a leadership position in alternative programming, with 10.2% of 2024 box office revenues coming from international films, compared to those films having a 3.7% North-American share. Strong performing titles, Jatt & Juliet 3 (Punjabi), Mittran Da Chaleya Truck Ni (Punjabi), and Ardaas Sarbat De Bhalle Di (Punjabi) of which Cineplex represented over 75% of total North American box office.
• Event Cinema programming consisted of a variety of successful initiatives through 2024 including Terrifier 3, Coraline, Queen Rock Montreal, and ICC Men's T20 Cricket World Cup 2024.

Digital Commerce

• Closed an agreement for the sale of Cineplex Store for nominal proceeds on January 1, 2025. The Cineplex Store will maintain its existing name and branding in market for a transition period of up to one year.
• Curated Cineplex Store collections for Black History Month, Asian History Month, National Indigenous Peoples Day, Pride Month, and National Day for Truth and Reconciliation to highlight diverse experiences, cultures and artistic expressions.

MEDIA

• Reported annual media revenues of $134.8 million, an increase of $16.2 million or 13.6% compared to the prior year.

Cinema Media

• Reported annual cinema media revenues of $79.1 million, a decrease of $0.9 million or 1.1% over the prior year.
• Reported an annual cinema media per patron (CMPP) of $1.84, an increase of $0.17 or 10.2% over the prior year (see Section 'Non-GAAP and other financial measures').
• Continued to leverage expertise in data and analytics to drive revenues.
• In March of 2024, Cineplex Media released the results of its proprietary Canadian Cinema Attention Results from Lumen, a well-known and respected global research company. These results far outperform any other video media option in the marketplace, and highlight the strength of the Cinema advertising channel.
• Cineplex Media's mall network, featuring over 750 screens across 95 shopping destinations, has been officially accredited by the Canadian Out-of-Home Marketing and Measurement Bureau ("COMMB"), establishing Cineplex's advanced mall audience measurement methodology as the new COMMB standard creating a new standard within the digital out of home ("DOOH") space.

Digital Place-Based Media

• Reported annual revenues of $55.7 million, an increase of $17.1 million or 44.3% over the prior year, primarily due to an agreement with Cadillac Fairview that began in the first quarter.
• Annual non-project revenues accounted for $37.4 million, an increase of $10.5 million or 39.3%, compared to the prior year of $26.8 million, which primarily consists of media advertising, sales of software and IT support.
• In 2024, developed, installed, and maintained state-of-the-art digital signage network in five Cominar managed shopping centres across Quebec, and managed directory and media assets at 14 Cadillac Fairview properties across Canada.

LOCATION-BASED ENTERTAINMENT

• Reported annual revenues of $128.6 million, a decrease of $3.8 million or 2.8% compared to the prior year.
• Reported annual adjusted store level EBITDAaL of $30.0 million, a decrease of $8.0 million or 21.0% compared to the prior year due to higher operating costs including payroll, and occupancy costs.
• Opened the first Rec Room in Quebec, The Rec Room Royalmount, on November 25, 2024, The Rec Room Granville, in Vancouver, British Columbia on December 12, 2024 and Playdium Fairview, in Toronto, Ontario on December 19, 2024.
• Enhanced the location-based entertainment circuit at The Rec Room South Edmonton, in Edmonton, Alberta, with attraction upgrades of spark bowling, and augmented reality axe throwing and darts.

LOYALTY

• Membership in the Scene+ loyalty program was over 15 million members as at December 31, 2024.

CORPORATE 

• On February 1, 2024, Cineplex completed the sale of 100% of the issued and outstanding shares of P1AG for a purchase price of $155.0 million in cash, subject to customary post-closing adjustments. In connection with the sale of P1AG, Cineplex recognized a material gain of $67.3 million during the first quarter.
• On March 4, 2024, Cineplex completed a comprehensive refinancing plan (the "2024 Refinancing").
• Recognized a $39.2 million provision related to the Competition Tribunal's administrative monetary penalty. Cineplex denies the allegations, and is appealing both the finding and penalty.
• Cineplex repurchased for cancellation 620,275 common shares of Cineplex ("Common Shares") at an average price of $10.70 per Common Share under its previously announced normal course issuer bid (the "NCIB").
•  Celebrated Community Day on September 14, 2024 with a morning of free, family-friendly movies, free gaming at XSCAPE Play card locations, and free non-redemption gaming at LBE venues, with select discounted concessions, where one dollar from every concession order of select items, and food and beverage orders were donated to BGC Canada.
• Commemorated National Day for Truth and Reconciliation on September 30, 2024 by raising awareness, honouring Indigenous communities through pre-show content, and donating to Tipi of Hope Foundation.

NON-GAAP AND OTHER FINANCIAL MEASURES

National Instrument 52-112, Non-GAAP and Other Financial Measures Disclosure ("NI 52-112") imposes obligations regarding disclosure of non-GAAP financial measures, non-GAAP ratios, and other financial measures. Cineplex reports on certain non-GAAP measures, non-GAAP ratios, supplementary financial measures and total segment measures that are used by management to evaluate Cineplex's performance. The following measures included in this news release do not have a standardized meaning under GAAP and may not be comparable to similar measures provided by other issuers. Cineplex includes these measures because management believes that they assist investors in assessing financial performance. These non-GAAP and other financial measures are used throughout this news release and are defined below.

NON-GAAP FINANCIAL MEASURES

A non-GAAP financial measure is defined in 52-112 as a financial measure disclosed that (a) depicts the historical or expected future financial performance, financial position or cash flow of an entity, (b) with respect to its composition, excludes an amount that is included in, or includes an amount that is excluded from, the composition of the most directly comparable financial measure disclosed in the primary financial statements of the entity, (c) is not disclosed in the financial statements of the entity, and (d) is not a ratio, fraction, percentage or similar representation.

NON-GAAP RATIOS

A non-GAAP ratio is defined in NI 52-112 as a financial measure disclosed that (a) is in the form of a ratio, fraction, percentage or similar representation, (b) has a non-GAAP financial measure as one or more of its components, and (c) is not disclosed in the financial statements.

Below are non-GAAP financial measures or non-GAAP ratios for continuing operations that are reported by Cineplex.

EBITDA, ADJUSTED EBITDA AND ADJUSTED EBITDAaL

Management defines EBITDA as earnings before interest income and expense, income taxes and depreciation and amortization expense. Adjusted EBITDA excludes the change in fair value of financial instrument, loss (gain) on disposal of assets, foreign exchange, and impairment, depreciation, amortization, interest and taxes of Cineplex's other joint ventures and associates, and other items that do not in management's view represent a factor relevant to the ongoing performance of the business such as the Competition Tribunal's administrative monetary penalty. Adjusted EBITDAaL modifies adjusted EBITDA to deduct current period cash rent paid or payable related to lease obligations.

Subsequent to the adoption of IFRS 16, Leases, by Cineplex effective January 1, 2019, the calculation of EBITDA no longer includes a charge for amounts paid or payable with respect to leased property and equipment. Given the majority of Cineplex's businesses are carried on in leased premises, Cineplex introduced the measure of adjusted EBITDAaL which includes a deduction for cash rent paid/payable related to lease obligations. Cineplex's management believes that adjusted EBITDAaL is an important supplemental measure of Cineplex's profitability at an operational level and provides analysts and investors with comparability in evaluating and valuing Cineplex's performance period over period. EBITDA, adjusted for various unusual items, is also used to define certain financial covenants in Cineplex's 2024 Credit Facility. Management calculates adjusted EBITDAaL margin by dividing adjusted EBITDAaL by total revenues.

EBITDA, adjusted EBITDA and adjusted EBITDAaL are non-GAAP measures generally used as an indicator of financial performance and they should not be seen as a measure of liquidity or a substitute for comparable metrics prepared in accordance with GAAP. Cineplex's EBITDA, adjusted EBITDA and adjusted EBITDAaL may differ from similar calculations as reported by other entities and accordingly may not be comparable to EBITDA, adjusted EBITDA or adjusted EBITDAaL reported by other entities.

Adjusted Store Level EBITDAaL Metrics

Cineplex reviews and reports adjusted EBITDAaL at the location level for LBE which is calculated as total LBE revenues from all locations less total LBE operating expenses, which excludes pre-opening costs and overhead relating to the management of LBE.

Adjusted Store Level EBITDAaL Margin

Calculated as adjusted store level EBITDAaL divided by total revenues for LBE for the period.

SUPPLEMENTARY FINANCIAL MEASURES

Supplementary financial measures are financial measures that are not (a) presented in the financial statements and (b) is, or is intended to be, disclosed periodically to depict the historical or expected future financial performance, financial position or cash flow, that is not a non-GAAP financial measure or a non-GAAP ratio as defined in the instrument. Below are supplementary financial measures that Cineplex uses to depict its financial performance, financial position or cash flows.

Earnings (loss) per Share Metrics
Cineplex has presented basic and diluted earnings (loss) per share net of this item to provide a more comparable loss per share metric between the current periods and prior year periods. In the non-GAAP and other financial measures, earnings is defined as net income or net loss attributable to Cineplex excluding the change in fair value of financial instruments.

Per Patron Revenue Metrics
Cineplex reviews per patron metrics as they relate to box office revenue, theatre food service revenue and cinema media revenue such as BPP, CPP, BPP excluding premium priced product, concession margin per patron, and CMPP, as these are key measures used by investors to value and assess Cineplex's performance, and are widely used in the theatre exhibition industry. Cineplex's management defines these metrics as follows:

Theatre attendance: Theatre attendance is calculated as the total number of paying patrons that frequent Cineplex's theatres during the period.

BPP: Calculated as total box office revenues divided by total paid theatre attendance for the period.

BPP excluding premium priced product: Calculated as total box office revenues for the period, less box office revenues from 3D, 4DX, UltraAVX, VIP, ScreenX and IMAX product; divided by total paid theatre attendance for the period, less paid theatre attendance for 3D, 4DX, UltraAVX, VIP, ScreenX and IMAX product.

CPP: Calculated as total theatre food service revenues divided by total paid theatre attendance for the period.

CMPP: Calculated as total cinema media revenues divided by total paid theatre attendance for the period.

Premium priced product: Defined as 3D, 4DX, UltraAVX, IMAX, ScreenX and VIP film product.

Theatre concession margin per patron: Calculated as total theatre food service revenues less total theatre food service cost, divided by theatre attendance for the period.

Same Theatre Analysis
Cineplex reviews and reports same theatre metrics relating to box office revenues, theatre food service revenues, theatre rent expense and theatre payroll expense, as these measures are widely used in the theatre exhibition industry as well as other retail industries.

Same theatre metrics are calculated by removing the results for all theatres that have been opened, acquired, closed or otherwise disposed of subsequent to the start of the prior year comparative period. For the three months ended December 31, 2024 the impact of one location that was opened or acquired and three locations that were closed or otherwise disposed of have been excluded, resulting in 155 theatres being included in the same theatre metrics. For the year ended December 31, 2024 the impact of one location that was opened or acquired and four locations that were closed or otherwise disposed of have been excluded, resulting in 155 theatres being included in the same theatre metrics.

Cost of sales percentages
Cineplex reviews and reports cost of sales percentages for its two largest revenue sources; box office revenues and food service revenues, as these measures are widely used in the theatre exhibition industry. These measures are reported as film cost percentage and concession cost percentage, respectively, and are calculated as follows:

Film cost percentage: Calculated as total film cost expense divided by total box office revenues for the period.

Theatre concession cost percentage: Calculated as total theatre food service costs divided by total theatre food service revenues for the period.

LBE food cost percentage: Calculated as total LBE food costs divided by total LBE food service revenues for the period.

Certain information included in this news release contains forward-looking statements within the meaning of applicable securities laws. These forward-looking statements include, among others, statements with respect to Cineplex's objectives and goals, and the strategies to achieve those objectives and goals, as well as statements with respect to Cineplex's beliefs, plans, objectives, expectations, anticipations, estimates and intentions. The words "may", "will", "could", "should", "would", "suspect", "outlook", "believe", "plan", "anticipate", "estimate", "expect", "intend", "forecast", "objective" and "continue" (or the negative thereof), and words and expressions of similar import, are intended to identify forward-looking statements.

By their very nature, forward-looking statements involve inherent risks and uncertainties, including those described in Cineplex's Annual Information Form ("AIF"), Cineplex's management's discussion and analysis for the year ended December 31, 2024 ("Annual MD&A") and in this news release, which is incorporated herein by reference and available on SEDAR+ (www.sedarplus.ca). These risks and uncertainties, both general and specific, give rise to the possibility that predictions, forecasts, projections and other forward-looking statements will not be achieved. Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements. Cineplex cautions readers not to place undue reliance on these statements, as a number of important factors, many of which are beyond Cineplex's control, could cause actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements, including: Cineplex's expectations with respect to liquidity and capital expenditures; its ability to meet its ongoing capital, operating and other obligations, and anticipated needs for, and sources of, funds; Cineplex's ability to execute cost-cutting and revenue enhancement initiatives; the ongoing recovery of Cineplex's business and the movie exhibition industry from the effects of the COVID-19 pandemic and the writers' and actors' guilds strike; competition from alternative forms of entertainment and content delivery via streaming and other formats; information concerning future purchases of Common Shares under Cineplex's normal course issuer bid (NCIB); and risks generally encountered in the relevant industry, competition, customer, legal, taxation and accounting matters.

The foregoing list of factors that may affect future results is not exhaustive. When reviewing Cineplex's forward-looking statements, readers should carefully consider the foregoing factors and other uncertainties and potential events. Additional information about factors that may cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the "Risks and Uncertainties" section of Cineplex's Annual MD&A.

Cineplex does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable Canadian securities law. Additionally, Cineplex undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Cineplex, its financial or operating results or its securities. All forward-looking statements in this news release are made as of the date hereof and are qualified by these cautionary statements. Additional information, including Cineplex's AIF and Annual MD&A, can be found on SEDAR+ at www.sedarplus.ca.

You are cordially invited to participate in a conference call with the management of Cineplex (TSX: CGX) to review our fourth quarter and year end 2024 results. Ellis Jacob, President and Chief Executive Officer and Gord Nelson, Chief Financial Officer, will host the call scheduled for:

Cineplex Inc. Q4/YE 2024 Earnings Webcast:

Date:	Tuesday, February 11, 2025
Time:	10:00 a.m. Eastern Daylight Time
Audio Webcast:	Audience URL https://events.q4inc.com/attendee/574743597 Pre-registration available. An archive of the webcast will be available at https://corp.cineplex.com/investors after the webcast for a limited time.

Please note, analysts who cover the Company, should use the dial-in option to participate in the live question period:
1-226-828-7575 (Local) or 1-833-950-0062 (Canada Toll-free), access code 191873.
All attendees should join the event 5-10 minutes prior to the scheduled start time. Media are welcome to join the call in listen-only mode.

About Cineplex

Cineplex (TSX:CGX) is a top-tier Canadian brand that operates in the Film Entertainment and Content, Amusement and Leisure, and Media sectors. Cineplex offers a unique escape from the everyday to millions of guests through its circuit of 172 movie theatres and location-based entertainment venues. In addition to being Canada's largest and most innovative film exhibitor, the company operates Canada's favourite destination for 'Eats & Entertainment' (The Rec Room), complexes specially designed for teens and families (Playdium), and an entertainment concept that brings movies, amusement gaming, dining, and live performances together under one roof (Cineplex Junxion). It also operates successful businesses in cinema media (Cineplex Media), digital place-based media (Cineplex Digital Media or CDM), alternative programming (Cineplex Events) and motion picture distribution (Cineplex Pictures). Providing even more value for its guests, Cineplex is a partner in Scene+, Canada's largest entertainment and lifestyle loyalty program.

Proudly recognized as having one of the country's Most Admired Corporate Cultures, Cineplex employs over 10,000 people in its offices and venues across Canada. To learn more, visit Cineplex.com.

SOURCE Cineplex

For further information: Investor Relations contact: Rayhan Azmat, Vice President, Investor Relations, Corporate Development & Financial Planning and Analysis, [email protected]; Media Relations contact: Michelle Saba, Vice President, Communications, [email protected]