Kinemax -->

Kinemax

Type of % of Country of Start of

Legal entity company Ownerhsip Operations Operations Staff
Kinemax Sarl Holding - France Jun-09 342
Kinemax Italia Spa Subsidiary 100.0% Italy Feb-10 156
Kinemax UK Ltd Subsidiary 100.0% UK Nov-10 192
Kinemax Deutschland Saar Subsidiary 100.0% Germany Mar-11 134
Kinemax Turkey A.S. Subsidiary 80.0% Turkey Jul-11 124
Kinemax Brasil LTDA Joint Venture 49.0% Brasil Nov-12 38
 38
124
France
342
Italy
134
UK
Germany
192 156 Turkey
Brasil
Private Equity Investments

€ in million
Round A 50.0
Round B 50.0
Round C 40.0
Total 140.0
Business KPIs

% of Sales % of Sales % of Sales Gross Margin Avg. (*)

Legal entity in FY11 in FY12 in FY13 in FY13 Attendance %
Kinemax Sarl 47.5% 37.0% 35.1% 26.3% 43.9%
Kinemax Italia Spa 21.2% 19.4% 17.1% 24.8% 37.4%
Kinemax UK Ltd 17.0% 19.4% 18.1% 29.8% 37.1%
Kinemax Deutschland Saar 8.2% 12.5% 14.2% 32.3% 42.3%
Kinemax Turkey A.S. 6.1% 11.5% 13.0% 22.7% 42.9%
Kinemax Brasil LTDA 0.0% 0.2% 2.5% 18.6% 29.3%
(*) Figures related to FY13

0.351 0.1755 0.8245

0.171 0.0855 0.9145
0.181 0.0905 0.9095
0.142 0.071 0.929
0.13 0.065 0.935
0.025 0.0125 0.9875
Number of Avg. Price (*) Other sales
cinemas (*) of Tickets in Eur as % of total
145 5.5 43.5% 56.5%
49 5.9 48.9% 51.1%
58 6.1 45.3% 54.7%
36 6.5 50.1% 49.9%
34 4.8 38.3% 61.7%
12 3.9 32.3% 67.7%
Customers age

Under 14 14 - 30 Over 30
Kinemax Sarl 56.3% 11.7% 32.0%
Kinemax Italia Spa 49.8% 14.9% 35.3%
Kinemax UK Ltd 53.9% 8.9% 37.2%
Kinemax Deutschland Saar 46.3% 21.3% 32.4%
Kinemax Turkey A.S. 57.3% 15.9% 26.8%
Kinemax Brasil LTDA 60.4% 7.3% 32.3%
Business KPIs

% of Sales % of Sales % of Sales Gross Margin Gross Margin

Legal entity in FY11 in FY12 in FY13 in FY11 in FY12
Kinemax Sarl 47.5% 37.0% 35.1% 24.8% 25.1%
Kinemax Italia Spa 21.2% 19.4% 17.1% 22.8% 23.5%
Kinemax UK Ltd 17.0% 19.4% 18.1% 26.8% 27.8%
Kinemax Deutschland Saar 8.2% 12.5% 14.2% 28.3% 27.8%
Kinemax Turkey A.S. 6.1% 11.5% 13.0% 23.7% 23.4%
Kinemax Brasil LTDA 0.0% 0.2% 2.5% 16.6% 17.9%
(*) Figures related to FY13

1 Cinema 600 seats

365 days
avg attendance
avg . Price of tickets
number of cinemas
Cinema revenues Other revenues Total Sales
France 76,672,448 59,030,999 135,703,447 34,061,565.17
Italy 23,679,025 22,659,575 46,338,600 10,889,571.00
UK 28,745,896 23,806,016 52,551,913 14,609,431.71
Germany 21,677,058 21,763,940 43,440,998 12,076,597.44
Turkey 15,332,803 9,517,769 24,850,572 5,815,033.95
Brasil 3,003,016 1,432,753 4,435,769 794,002.65
 Other
sales vs.
Gross Margin Avg. (*) Number of Avg. Price (*) cinema
in FY13 Attendance % cinemas (*) of Tickets in Eur sales
26.3% 43.9% 145 5.5 43.5%
24.8% 37.4% 49 5.9 48.9%
29.8% 37.1% 58 6.1 45.3%
32.3% 42.3% 36 6.5 50.1%
22.7% 42.9% 34 4.8 38.3%
18.6% 29.3% 12 3.9 32.3%
Financials Kinemax

FY11 FY12 FY13 Var % Var %

€ in million Act Act Act FY11-FY12 FY12-FY13
Cinema revenues 135.3 152.5 169.1 12.7% 10.9%
Other revenues 102.6 119.6 138.2 16.6% 15.6%
Total Revenues 237.9 272.1 307.3 14.4% 12.9%
Cost of Sales (183.9) (207.3) (229.1) 12.8% 10.5%
Gross Margin 54.0 64.8 78.2 19.9% 20.8%
Operating expenses (35.9) (40.5) (46.6) 12.9% 14.9%
EBITDA 18.1 24.2 31.7 33.9% 30.7%
Operating Cash Flow 16.1 22.8 24.1 41.4% 5.6%

KPIs
Cinema revenues % 56.9% 56.1% 55.0%
Other revenues % 43.1% 43.9% 45.0%
Gross Margin % 22.7% 23.8% 25.5%
EBITDA % 7.6% 8.9% 10.3%
Cash conversion % 89.3% 94.3% 76.20%
Revenues and GM% development: FY11-FY13
400.0 26.0%

300.0 25.0%
Euro in millions

138.2
200.0 119.6 24.0%
102.6
100.0 169.1 23.0%
135.3 152.5
0.0 22.0%
FY11 FY12 FY13
Act Act Act

Cinema revenues Other revenues Gross Margin %