Cinemark Reports Record Results for 2016 and Announces a 7.4% Increase its its Annual Dividend

PRESS RELEASE


PLANO, Texas–(BUSINESS WIRE)–Feb. 23, 2017– Cinemark Holdings, Inc. (NYSE: CNK), one of the largest motion picture exhibitors in the world, today reported results for the three months and year ended December 31, 2016 and announced that its Board of Directors has increased its cash dividend by 7.4% to $1.16 per share of common stock on an annualized basis, effective immediately. The fourth quarter dividend of $0.29will be paid on March 20, 2017 to stockholders of record on March 8, 2017.

Cinemark Holdings, Inc.’s total revenues for the three months ended December 31, 2016 were $700.9 millioncompared to $707.2 million for the three months ended December 31, 2015. For the three months endedDecember 31, 2016, admissions revenues were $424.4 million and concession revenues were $237.3 million. Average ticket price was $6.48 and concession revenues per patron was $3.62 for the three months endedDecember 31, 2016.

Net income attributable to Cinemark Holdings, Inc. for the three months ended December 31, 2016 was $77.0 million compared to $57.8 million for the three months ended December 31, 2015. The Company recorded a net income tax benefit of $2.2 million during the three months ended December 31, 2016, which was primarily a result of the implementation of a foreign holding and financing structure that increased the Company’s ability to use foreign tax credits that had previously carried a full valuation allowance. Diluted earnings per share for the three months ended December 31, 2016 was $0.66 compared to $0.50 for the three months ended December 31, 2015.

Adjusted EBITDA for the three months ended December 31, 2016 was $168.2 million compared to $174.8 million for the three months ended December 31, 2015. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release and at investors.cinemark.com.

“It was a banner year for the North American industry box office, achieving its 4th all-time high in the past 5 years,” stated Mark Zoradi, Cinemark’s Chief Executive Officer. “Cinemark’s domestic operations outperformed the North American industry box office by 100 basis points, and globally we set numerous records, including total revenues of nearly $3 billion, net income of $255 million and Adjusted EBITDA of more than $706 million. Furthermore, our ability to increase our dividend, while continuing to actively invest in growth initiatives, is indicative of the consistent strength of our balance sheet, as well as our confidence in Cinemark.”

Cinemark Holdings, Inc.’s total revenues for the year ended December 31, 2016 increased 2.3% to $2,918.8 million from $2,852.6 million for the year ended December 31, 2015. For the year ended December 31, 2016, admissions revenues increased 1.3% to $1,789.2 million and concession revenues increased 5.7% to $990.1 million. Average ticket price was $6.23 and concession revenues per patron was $3.45 for the year endedDecember 31, 2016.

Net income attributable to Cinemark Holdings, Inc. for the year ended December 31, 2016 was $255.1 millioncompared to $216.9 million for the year ended December 31, 2015. Diluted earnings per share for the year ended December 31, 2016 was $2.19 compared to $1.87 for the year ended December 31, 2015.

Adjusted EBITDA for the year ended December 31, 2016 increased 3.4% to $706.1 million from $682.8 millionfor the year ended December 31, 2015. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release and at investors.cinemark.com.

As of December 31, 2016, the Company’s aggregate screen count was 5,903 and the Company had commitments to open eight new theatres and 69 screens during 2017 and seven new theatres and 76 screens subsequent to 2017.

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