Cinemaxx seeing red

Sales up to $190 mil, but net loss was $29 million

COLOGNE — Multiplex theater operator Cinemaxx has reported a net loss for 2001 despite a growth in admissions.

Last year, the company withdrew from all foreign ventures and pulled out of a merger with Ufa Theater Group that would have created Germany’s largest cinema operator.

Company’s sales increased to €191 million ($190 million) from $160 million as attendance at the theaters rose from 18.6 million in 2000 to 22.6 million. Company’s net loss was $29 million, attributable partly to a value adjustment for discounted loans to Ufa Theater.

Cinemaxx noted that in the first half of the year, the number of moviegoers was up 7.5% from a year earlier, and the exhib expects to be in the black for the full year.

More Biz

  • Leslie Moonves

    CBS Amends Lawsuit Against National Amusements, Claims Bylaw Changes Are Invalid

    COLOGNE — Multiplex theater operator Cinemaxx has reported a net loss for 2001 despite a growth in admissions. Last year, the company withdrew from all foreign ventures and pulled out of a merger with Ufa Theater Group that would have created Germany’s largest cinema operator. Company’s sales increased to €191 million ($190 million) from $160 […]

  • Univision logo

    Univision Plans to Name Vince Sadusky CEO (Reports)

    COLOGNE — Multiplex theater operator Cinemaxx has reported a net loss for 2001 despite a growth in admissions. Last year, the company withdrew from all foreign ventures and pulled out of a merger with Ufa Theater Group that would have created Germany’s largest cinema operator. Company’s sales increased to €191 million ($190 million) from $160 […]

  • Comcast

    Comcast Says It's Ready to Outbid Disney for 21st Century Fox

    COLOGNE — Multiplex theater operator Cinemaxx has reported a net loss for 2001 despite a growth in admissions. Last year, the company withdrew from all foreign ventures and pulled out of a merger with Ufa Theater Group that would have created Germany’s largest cinema operator. Company’s sales increased to €191 million ($190 million) from $160 […]

  • Pokemon World Championships

    Japan's Imagica Robot Holdings to Be Renamed Imagica Group

    COLOGNE — Multiplex theater operator Cinemaxx has reported a net loss for 2001 despite a growth in admissions. Last year, the company withdrew from all foreign ventures and pulled out of a merger with Ufa Theater Group that would have created Germany’s largest cinema operator. Company’s sales increased to €191 million ($190 million) from $160 […]

  • PHILIP ROTHF.SCOTT FITZGERALD

    Pulitzer Prize-Winning Author Philip Roth Dies at 85

    COLOGNE — Multiplex theater operator Cinemaxx has reported a net loss for 2001 despite a growth in admissions. Last year, the company withdrew from all foreign ventures and pulled out of a merger with Ufa Theater Group that would have created Germany’s largest cinema operator. Company’s sales increased to €191 million ($190 million) from $160 […]

  • Colin Callender on 'Cursed Child' and

    Strictly Business Podcast: Colin Callender on 'Cursed Child' and Navigating Co-Productions

    COLOGNE — Multiplex theater operator Cinemaxx has reported a net loss for 2001 despite a growth in admissions. Last year, the company withdrew from all foreign ventures and pulled out of a merger with Ufa Theater Group that would have created Germany’s largest cinema operator. Company’s sales increased to €191 million ($190 million) from $160 […]

  • CBS Intends to Challenge National Amusements

    CBS Intends to Challenge National Amusements Bylaw Changes

    COLOGNE — Multiplex theater operator Cinemaxx has reported a net loss for 2001 despite a growth in admissions. Last year, the company withdrew from all foreign ventures and pulled out of a merger with Ufa Theater Group that would have created Germany’s largest cinema operator. Company’s sales increased to €191 million ($190 million) from $160 […]

More From Our Brands

Access exclusive content