JAKARTA. PT Nusantara Sejahtera Raya Tbk (CNMA), the managing company of Cinema XXI theatre network, recorded revenue surge of 18.9% year-on-year (yoy) in 2023 to IDR 5.2 trillion.

Said growth aligned with massive expansion that Cinema XXI initiated in 2023. It had opened 18 new theatres with extra 75 screens. These bring total theatres operated by the company to 240 theatres with total 1,280 screens, located across 60 cities.

“In 2023, Cinema XXI's total revenue derived from cinema ticket revenue at 60%, F&B product business line at 35.4%, digital platform at 2%, and advertising at 1.9%,” said Hans Gunadi, President Director of Cinema XXI, in the official statement.

Arif Suherman, Director of Cinema XXI, said that food and beverages (F&B) business line also improved quite aggressively in 2023, up to 20.3% yoy to IDR 2 trillion. “We are committed to consistently bringing innovation in a range of quality F&B products to better complete the moviegoing experience in Cinema XXI,” he added.

Meanwhile, movie ticket sales grew 25.7% yoy to 84.3 million viewers in 2023. These ticket sales generated gross box office (GBO) worth IDR 3.5 trillion.

In terms of profitability, Cinema XXI booked net profit after tax of IDR 742.3 billion in 2023. It was 47.1% yoy higher compared to the previous year.

On today’s (13/3) first session, CNMA opened 12 points or 5.04% higher to IDR 250 per share. However, since its debut, CNMA’s stock has actually declined 54 points or 17.76%. (KR/ZH)