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Cineplex Inc. Reports Record Quarterly Results

TORONTO, ONTARIO--(Marketwired - Aug 8, 2013) - Cineplex Inc. ("Cineplex") (CGX.TO) today released its financial results for the three and six months ended June 30, 2013.

Second Quarter Results

2013

2012 (i)

Period over
Period
Change
(ii)

Total Revenues

$

301.6 million

$

263.7 million

14.4

%

Attendance

18.6 million

17.1 million

8.6

%

Other Revenues

$

37.6 million

$

27.5 million

36.6

%

Net Income

$

28.5 million

$

21.0 million

36.2

%

Adjusted EBITDA (iii)

$

58.7 million

$

47.3 million

24.2

%

Adjusted EBITDA Margin (iii)

19.5

%

17.9

%

1.6

%

Adjusted Free Cash Flow per Share (iii)

$

0.7347

$

0.4816

52.6

%

Basic Earnings per Share

$

0.45

$

0.34

32.4

%

Diluted Earnings per Share

$

0.45

$

0.34

32.4

%

Year to Date Results

2013

2012 (i)

Period over
Period
Change
(ii)

Total Revenues

$

549.7 million

$

512.7 million

7.2

%

Attendance

34.8 million

34.3 million

1.6

%

Other Revenues

$

64.6 million

$

50.0 million

29.1

%

Net Income

$

37.4 million

$

36.1 million

3.6

%

Adjusted EBITDA (iii)

$

90.4 million

$

88.4 million

2.3

%

Adjusted EBITDA Margin (iii)

16.4

%

17.2

%

-0.8

%

Adjusted Free Cash Flow per Share (iii)

$

1.1186

$

0.9493

17.8

%

Basic Earnings per Share

$

0.60

$

0.60

-

%

Diluted Earnings per Share

$

0.59

$

0.60

-1.7

%

i.

Effective January 1, 2013, Cineplex implemented International Financial Reporting Standard ("IFRS") 11, Joint Arrangements, retrospectively. As a result, certain comparative items presented in this news release for 2012 have been revised.

ii.

Period over period change calculated based on thousands of dollars except percentage and per share values. Changes in percentage amounts are calculated as 2013 value less 2012 value.

iii.

Adjusted EBITDA, adjusted EBITDA margin and adjusted free cash flow per common share of Cineplex are measures that do not have a standardized meaning under generally accepted accounting principles ("GAAP"). These measures as well as other non-GAAP financial measures monitored by Cineplex are defined in the 'Non-GAAP Financial Measures' section in this news release.

"It was a record quarter for Cineplex," said Ellis Jacob, President and CEO, Cineplex Inc. "New all-time records were set for total revenues and adjusted EBITDA. Media revenues continued to be strong increasing 44.7% to $26.4 million. Our SCENE program continued to increase its membership adding a further 200,000 members to reach 4.7 million. Increased attendance resulting from strong film product during the period and increased revenues generated from concession, box office and media, all contributed to the tremendous gains in adjusted EBITDA.