This article is from the WeChat public account: East and West Entertainment (ID: EW-Entertainment) , author: Ke Li Yun, review: Yan Wei, head of FIG. source: watercress
The financial report as a whole and four highlights:
The total revenue of the fourth quarter and the annual total revenue performed well, higher than market expectations
1. Greater China’s annual revenue tops the regional rankings
2. Chinese films pursue quality and sink IMAX DNA with the help of equipment
3. The theater expansion is stable, and the main strategy is to turn to a new generation of laser projection system
4. The epidemic has temporarily stopped the Chinese market, and the negative impact is significant.
Key points in Q-A:
1. The impact of the epidemic will continue into the second half of the year, and the scheduling will be affected
2. Japan is super successful, Middle East and India have great potential, Europe and Germany stand out
3. Repurchase may not be ruled out under the impact of the epidemic
4. Aunt is an individual incident and may not occur again in the future
Finance report data
According to IMAX Corp.’s fiscal fourth quarter and full-year financial report for the fourth quarter of fiscal 2019, total revenue for the fourth quarter was $ 124.3 million, an increase of 14% year-on-year, higher than the market’s previous forecast of $ 117.4 million. Annual total revenue increased by 6% year-on-year to$ 395.7 million, a new record.
In terms of net profit, the company’s Q4 net profit was US $ 21.4 million, an increase of 461% year-on-year, and earnings per share were US $ 0.29, exceeding US $ 0.03; the net profit attributable to ordinary shareholders was US $ 18.2 million, an increase of 973% ; Adjusted net profit was US $ 21.5 million, an increase of 31% year-on-year, adjusted earnings per share were US $ 0.35, and US $ 0.26 in the same period last year.
The company’s net profit attributable to shareholders for the year was US $ 46.9 million, an increase of 105% year-on-year; adjusted net profit was US $ 64.8 million, an increase of 12% year-on-year, and earnings per share were US $ 1.05, an increase of 15% year-on-year.
In terms of the most important theater line expansion indicators, the number of IMAX commercial theaters increased to 1,529 in the whole year, of which the international market accounted for 73%.
Annual Report Highlights
1. Greater China’s revenue surpassed the US for the first time and topped regional revenue rankings
IMAX revenue is record-breaking, thanks to global box office growth. The strongest contributor to IMAX revenue is IMAX China. In 2019, IMAX China contributed US $ 124 million in revenue, a year-on-year increase of 5.8%, exceeding the US revenue for the first time. ) to become the top regional revenue leader.
In order to alleviate the head dependence formed during the decentralization of this network business area and obtain more stable and sustainable income, IMAX has adopted a further decentralization strategy and steadily promoted its blue ocean in the “other regions” expansion.
According to the calculation of the regional revenue data in the report, the coefficients of variation are 1.352, 1.330, and 1.327 respectively from 2017 to 2019, showing a decreasing trend, indicating that the decentralization strategy of IMAX network business is gradually progressing, and head dependence has begun to have Alleviated.
2. Greater China strategy: Chinese films pursue quality and sink IMAX DNA with the help of equipment
In 2019, IMAX only released 51 movies in Greater China, a year-on-year decrease of 6. Among them, there were 30 Hollywood films released in the Mainland, an increase of 4 year-on-year, and only 14 Chinese films, a decrease of 5 year-on-year.
The decline in the number of IMAX Chinese films showing does not comply with the IMAX’s stated strategy, which implies that the focus of IMAX’s pursuit of Chinese films has shifted from quantity to quality.
In the IMAX Hollywood film, “Avengers 4: End of the War” has a significant head effect. In addition, the films that made IMAX taste sweet are “Wandering Earth” and “Nazi’s Witch Child” Chinese videos. It can be seen that on the basis of ensuring the richness of Hollywood film entertainment, IMAX China is more precise and efficient in selecting Chinese films. The film selection is more mature than before. It fully grasps the characteristics of the Chinese market and fully meets the Chinese audience’s immersive experience Entertainment needs and brand expectations for the IMAX experience.
IMAX will also strengthen cooperation with Chinese-language films on the production side to inject more IMAX DNA into Chinese-language films.
The full film of “Chinatown Detective 3”, originally scheduled for release in the 2020 Spring Festival, was shot with an IMAX digital camera, which has a stronger box office appeal than other IMAX DMR® Chinese films. In addition, the upcoming Hollywood films “007: Time to Die”, “Wonder Woman 2” and “Creed” in 2020 will also be filmed with IMAX film cameras. Among the fandom, IMAX DNA is more than IMAX digital cameras. Box office appeal.
The rise in the box office of the movie market has provided sufficient motivation for IMAX to adhere to its strategy of increasing revenue sharing arrangements. In 2019, the number of cinema system contracts in revenue sharing arrangements in Greater China reached 43 units, an increase of 13 units year-on-year, and only 20 units were signed for sales and sales lease arrangements, a decrease of 10 units year-on-year.
3. The theater expansion is stable, and the main strategy is to shift to a new generation of laser projection system
Inspired by network business,