Company presentation
© 365careers, 2014
Index 1
2
Group Structure 3
4
Historical Timeline
3 Business Formula 5
4 Geographical Footprint 6
5 Country Comparison 7
7 Financials at a Glance 9
8 Summary Table 10
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Geographical Country Growth
Group Structure Timeline Business Formula Financials Summary table
Footprint comparison Prospects
Group Structure
Kinemax Group:
Kinemax Group
– Kinemax Sarl was founded in 2009 by a prominent
Kinemax Sarl French entrepreneur. The company owns a chain of
2009 cinema multiplexes, targeted at children audiences.
Kinemax tries to take advantage of the fastest growing
niche within the cinema market
International expansion
Kinemax *100% *100% Kinemax – Soon after the company started its operations in
Italia Spa UK ltd France, it started looking abroad. Currently, the
2010 2010
company is present in 5 foreign markets – mainly in
Europe
Kinemax *100% *80% Kinemax – Two of Kinemax’s most recent investments are related
Deutschland
Turkey A.S to the fast growing markets of Turkey and Brazil. The
Saar 2011 2011
company owns a majority stake in its investment in
Turkey (80%), and decided to form a Joint Venture in
*49% Kinemax order to access the Brazilian market
Brasil Structure of the Group
LTDA 2012 – Kinemax Sarl, the French legal entity, is the Group’s
owner. The company has direct participation in all of
the other companies
Legend: – Kinemax consolidates fully all of its subsidiaries, given
that the company is the major shareholder in all five of
Kinemax Group Perimeter Joint Venture them and is able to exercise control
Parent Company Accounting principles
*% Percentage held by
Parent Company – All legal entities within the Kinemax Group prepare
Subsidiaries
their financial figures under IFRS
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Geographical Country Growth
Group Structure Timeline Business Formula Financials Summary table
Footprint comparison Prospects
Historical Timeline
4
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Business Geographical Country Growth
Group Structure Timeline Financials Summary table
Formula Footprint comparison Prospects
Business Formula
Business Model
Partnerships with Strong Bargaining
Local Players Power
5
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Geographical Country Growth
Group Structure Timeline Business Formula Financials Summary table
Footprint comparison Prospects
Geographical Footprint
€52.5m €43.4m
Total Revenues Total Revenues
Headcount: 192 Headcount: 134
Kinemax Sarl
Headcount: 124
€4.4m €46.3m
Total Revenues Total Revenues
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Geographical Country Growth
Group Structure Timeline Business Formula Financials Summary table
Footprint comparison Prospects
Country Comparison
26% Gross
High Margin
France 56 % vs.
56% 12% 32%
35 % of Revenues 44% 26%
25% Gross
Italy Medium 51 % vs. 50% 15% 35% Margin
49%
Countries of Operation
17 % of Revenues 25%
30% Gross
UK Medium 54 % vs.
54% 9% 37% Margin
46% 30%
18 % of Revenues
32% Gross
Germany Medium 50 % vs. 46% 21% 32% Margin
14 % of Revenues 50% 32%
22% Gross
Turkey Low 62 % vs. 57% 16% 27% Margin
13 % of Revenues 38% 22%
19% Gross
Brazil Low 68 % vs. 61% 7% 32% Margin
3 % of Revenues 32% 19%
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Geographical Country Growth
Group Structure Timeline Business Formula Financials Summary table
Footprint comparison Prospects
Kinemax Growth
Prospects
Penetration in existing Markets Extension of offered Services
• Cinemax will likely step up its effort to solidify its
• Kinemax plans to introduce a new service in its
leadership position in the markets, in which the
locations: “Event rooms”
company is already present
• Similar service lines reinforce its image as the
• There is significant room for growth in Turkey and
place to be for children in the “under 14” segment
in Brazil
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Geographical Country Growth
Group Structure Timeline Business Formula Financials Summary table
Footprint comparison Prospects
Financials at a Glance
300.0 25.0%
10.3% in FY13)
138.2
200.0 102.6
119.6 24.0% – Operating expenses did not increase as fast as
Gross Margin, thus EBITDA increased
100.0 169.1 23.0% Cash Conversion Ratio
152.5
135.3 – The ratio between Operating Cash Flow and
0.0 22.0%
FY11 FY12 FY13 EBITDA varied between 76.2% and 94.3%
Act Act Act – It was lower in FY13 due to investments in new
projects
Cinema revenues Other revenues Gross Margin %
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© 365careers, 2014
Geographical Country Growth
Group Structure Timeline Business Formula Financials Summary table
Footprint comparison Prospects
Summary Table
Kinemax Not
France Holding June 2009 43.9% 5.5€ 26.3%
Sarl applicable
Kinemax Italia Spa Italy Subsidiary 100% February 2010 37.4% 5.9€ 24.8%
Kinemax Group
United November
Kinemax UK Ltd Subsidiary 100% 37.1% 6.1€ 29.8%
Kingdom 2010
Kinemax
Germany Subsidiary 100% March 2011 42.3% 6.5€ 32.3%
Deutschland Saar
Kinemax Turkey A.S. Turkey Subsidiary 80% July 2011 42.9% 4.8€ 22.7%
November
Kinemax Brasil LTDA Brasil Joint Venture 49% 29.3% 3.9€ 18.6%
2012
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