CNMA - posted a 15.4% yoy revenue growth in 9M23

CNMA - A 15.4% yoy revenue growth in 9M23 Nusantara Sejahtera Raya (CNMA), the operator of Cinema XXI, has seen an increase in revenue and net profit, driven by 15.9% yoy rise in moviegoers, to 59.1 mn in 9M23. CNMA aims to reach around 83.75 mn moviegoers this year, indicating a 25% annual growth. In terms of expansion, CNMA opened 10 new locations with 45 screens as of September 30, 2023. CNMA' total revenue reached IDR3.81 tn (+15.4% yoy) in 9M23, fueled by 10.34% yoy increase in cinema segment, generating IDR2.28 tn or 59.9% of CNMA's total income. Additionally, CNMA's food and beverage revenue also rose to IDR1.36 tn (+30% yoy). However, CNMA experienced a decline in revenue from advertising and digital platforms, registering IDR64.3 bn and IDR81.5 bn, respectively, marking a 17.61% and 12.09% annual decrease. On the other hand, event and other revenue for CNMA increased to IDR18.7 bn. This growth led to a 3.3% yoy net profit increase, amounting IDR387.9 bn in 9M23. (Source: Bisnis Indonesia)