JAKARTA - PT Nusantara Sejahtera Raya Tbk (CNMA), the managing company of Cinema XXI theatre network, reported fantastic growth in Q1 2024’s net profit, reaching 701.7% year-on-year (yoy). This significant shift allowed CNMA to score net profit of IDR 154 billion at the end of March 2024.

The rapid growth of profit was supported by its revenue that soared 47.6% yoy to IDR 1.3 trillion from IDR 883.3 billion recorded in the same quarter last year.

“The revenue from theatre ticket sales remain the highest contributor, reaching 63.4% of total revenue, followed by the revenue from food and beverages business line, which contributed 33%,” said Suryo Suherman, President Director of Cinema XXI, in the official release today (30/4).

The number of audiences of Cinema XXI also rose to 21.1 million in Q1 2024, resulting in ticket sales of IDR 825.8 billion. Meanwhile, food and beverage products’ sales also grew 38.3% yoy to IDR 429.7 billion.

In 2024, Cinema XXI seems persistent in continuing its massive expansion. “We aim for additional 100 new screens in 2024 that will be spread across cities and regencies in Indonesia,” added Suherman.

It is worth mentioning that, based on CNMA’s official release, as of March 2024, the company has operated 244 theatres with a total of 1,301 screens in 61 cities across Indonesia. (ZH)