Cineworld Group Declares $208 Million Operating Loss for COVID-Hit First Half of 2021
has recorded an operating loss of $209 million in its interim financial results for the six-month period ended June 30, 2021.
The operating losses were lessened by asset impairment reversals of $95.6 million resulting from lease modifications. The operating losses are vastly lower compared to the same period in 2020 when the group posted a loss of $1.34 billion. The results noted a cash burn of $271 million during the period, averaging approximately $45 million per month, supported by positive working capital in June. As of June 2021, the group had cash of $437 million, which was strengthened by an additional term loan with principal value ofThe group’s net external borrowings less cash were $4.63 billion, up from $4.55 billion at the end of 2020.
The group took a positive view of the upcoming release slate and talked up the prospects of the four new Marvel movies as well as “Top Gun Maverick,” the new James Bond film, the fourth Matrix film and “Dune.”
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Regal Owner Cineworld Expects Film Window to “Stabilize” by 2022, First-Half Revenue Drops 59 PercentCineworld says about the film sector's rebound: 'As the most affordable out-of-home entertainment option, we believe that cinemas will be back and continue to be the main locomotive of the industry.' More:
Weiterlesen »
Tate McRae On Her First Justin Bieber Concert, Lil Nas X & Astrology.tatemcrae talks her experiences with ghosts, dancing with Justin Bieber on stage when she was 12, and more.
Weiterlesen »
'AGT's first live show hits high note with singers, flops with 'bloody awful' comic Sethward'It was absolutely bloody awful,' judge Simon Cowell said about one comedian's 'confusing' act. 'We can now officially call this show 'America Does Not Have Talent.''
Weiterlesen »
Kathy Hochul to become first woman to lead New YorkWith a range of political experience that has taken her from a town board in upstate New York to Capitol Hill in Washington, Kathy Hochul is soon to become the first woman to serve as governor of New York.
Weiterlesen »
Joshua Bassett Opened Up About Coming Out As Queer And Revealed His First Celebrity Crush“It all came out at once and I was like, yep, let’s post it.'
Weiterlesen »