VUE INTERNATIONAL BIDCO PLC

Similar documents
VUE INTERNATIONAL BIDCO PLC

VUE INTERNATIONAL BIDCO PLC

VUE INTERNATIONAL BIDCO PLC QUARTERLY REPORT TO NOTEHOLDERS. Q PERIOD ENDED 25 August ,000, % SENIOR SECURED NOTES DUE 2020

360,000,000 SENIOR SECURED FLOATING RATE NOTES DUE 2020

FIRST HALF HIGHLIGHTS

ASSETS 30 June December 2017

VOUGEOT BIDCO PLC QUARTERLY REPORT TO NOTEHOLDERS 300,000, % SENIOR SECURED NOTES DUE 2020

- (1.7) (6.6) Profit attributable to ordinary shareholders Earnings per share 5 Basic 2.3p 2.5p 10.6p Diluted 2.3p 2.5p 10.

Interim Financial Statements

RED FOOTBALL LIMITED. Second Quarter and Year to Date Results. Fiscal Year Ended 30 June Bond Group Parent: Red Football Limited

Interim Financial Statements

Meridian Petroleum plc RESTATED INTERIM RESULTS FOLLOWING ADOPTION OF IFRS for the Six Month period ended 30 June 2006 (Unaudited)

Interim Financial Statements

THE ROYAL BANK OF SCOTLAND GROUP plc. APPENDIX 1 Reconciliations of pro forma to statutory income statements and balance sheets.

PERFORM GROUP LIMITED

GROUP PROFIT AND LOSS ACCOUNT

Garfunkelux Holdco 2 S.A. QE 30 June 2017 Results

Nonunderlying. Underlying items 1 m. items (note 4) m

Unaudited Financial Statements for 9 Months Ended 30 September 2013 UNILEVER NIGERIA PLC

Consolidated Profit and Loss account for the year ended 31 December 2003

ASSETS 31 March December 2017

SUPPLEMENTARY INFORMATION SUPPLEMENTARY FINANCIAL INFORMATION SUPPLEMENTARY PEOPLE INFORMATION SUPPLEMENTARY SUSTAINABILITY INFORMATION SHAREHOLDER

T.F. & J.H. Braime (Holdings) P.L.C. ( Braime or the Company ) Interim Results for the six months ended 30th June 2017

Consolidated Income Statement

ASSETS 30 September December 2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Appendix 4E. Preliminary final report

Interim Report. For the three and nine months ended 30 September Ardagh Packaging Holdings Limited

International Car Wash Group Limited and its subsidiary companies

FIRST HALF HIGHLIGHTS

Summarised annual financial statements

Garfunkelux Holdco 2 S.A. QE 30 September 2017 Results

Company No. LL INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2017 (Unaudited) (In United States Dollars)

EDCON HOLDINGS LIMITED ( EDCON ) UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND QUARTERLY REPORT

A P P E N D I C E S B U S I N E S S A S U N U S U A L

IFRS Interim Results. 25 weeks to 24 July November 2005

Overview of consolidated financial statements

ICAP plc Annual Report 2016 FINANCIAL STATEMENTS. Strategic report. Page number

Interim Financial Statements

INTERIM REPORT FOR THE SIX MONTHS ENDED

John Lewis Partnership plc A N N U A L R E P O R T A N D A C C O U N T S F I N A N C I A L S TAT E M E N T S. Results matter

EDCON HOLDINGS LIMITED ( EDCON ) UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND QUARTERLY REPORT

Consolidated Statement of Profit or Loss (in million Euro)

Consolidated Statement of Profit or Loss (in million Euro)

PAO TMK Unaudited Interim Condensed Consolidated Financial Statements Three-month period ended March 31, 2018

CONSOLIDATED FINANCIAL STATEMENTS

Finance$Case$ Studies$

35 Manchester United PLC Annual Report 2002 Financial statements

Consolidated Profit and Loss Account Year ended 31 December 2004

PERFORM GROUP LIMITED

TVL FINANCE PLC PERIOD ENDED 28 MARCH 2018 REPORT TO NOTEHOLDERS 232,000, % SENIOR SECURED NOTES DUE 2023

Profit/(loss) before tax m Underlying 7,040 6, (84) (68) (59) 73 (143)

Garfunkelux Holdco 2 S.A. QE 31 March 2017 Results

FIVE-YEAR CONSOLIDATED SUMMARY OF PROFITS

- Income statement Statement of other comprehensive income 4. - Statement of financial position Statement of changes in equity 7

Overview of results. 31 March Sept Sept 2016 % change

Financial Statements

Consolidated Statement of Profit or Loss Year ended 31 December 2016

Pearson plc IFRS Technical Analysis

Consolidated Statement of Income (unaudited)

PERFORM GROUP LIMITED

86 MARKS AND SPENCER GROUP PLC FINANCIAL STATEMENTS CONSOLIDATED INCOME STATEMENT

Unaudited Interim Results for the six months ended 30 June 2018

ASSETS 31 December December 2016

INTERNATIONAL ACCOUNTING STANDARD No. 34 CONSOLIDATED CONDENSED INTERIM (SIX MONTHS) FINANCIAL INFORMATION AND REVIEW REPORT

REGISTERED NUMBER: MISSOURI TOPCO LIMITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 13 WEEKS ENDED 25 AUGUST 2018

Pearson plc IFRS Technical Analysis

SHOP DIRECT LIMITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

DataWind UK Plc. Interim consolidated financial statements. For the 3 month periods ended 30 June 2014 and (Unaudited) Company Number

RED FOOTBALL LIMITED. Second Quarter and Year to Date Results. Fiscal Year Ended 30 June Bond Group Parent: Red Football Limited

PERFORM GROUP LIMITED

- Income statement Statement of other comprehensive income 4. - Statement of financial position Statement of changes in equity 7

Consolidated Income Statement

UNAUDITED CONSOLIDATED FINANCIAL INFORMATION FOR THE QUARTER ENDED JUNE 30, 2018

Interim Financial Statements

Pacific International Lines (Private) Limited and its subsidiaries

Interim Financial Statements

REGISTERED NUMBER: MISSOURI TOPCO LIMITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 13 WEEKS ENDED 26 MAY 2018

Notes. 1 General information

- Income statement Statement of other comprehensive income 4. - Statement of financial position Statement of changes in equity 7

JOHN WOOD GROUP PLC GROUP FINANCIAL STATEMENTS. FOR THE YEAR TO 31st DECEMBER Company Registration Number SC 36219

Consolidated Statement of Profit or Loss (in million Euro)

UNAUDITED CONSOLIDATED FINANCIAL INFORMATION FOR THE QUARTER ENDED SEPTEMBER 30, 2018

ACERINOX, S.A. AND SUBSIDIARIES. 31 December 2015

PAO TMK Unaudited Interim Condensed Consolidated Financial Statements Three-month period ended March 31, 2017

Chapter 6 Financial statements

CONSOLIDATED FINANCIAL STATEMENTS

ANNEX I GENERAL. 2nd 2017 HALF-YEARLY FINANCIAL REPORT FOR FINANCIAL YEAR REPORTING DATE 12/31/ /07/2018 I. IDENTIFICATION DATA

Aston Martin Holdings (UK) Limited. Interim financial report. for the period ended 31 March 2018

Amount $000's. Amount. Imputed amount Foreign tax credit per share. per share per share Dividend payable N/A. N/A N/A Special dividend payable

ODEON & UCI CINEMAS GROUP. Odeon & UCI Finco plc Financial Results 2013 Q1

Unaudited interim condensed consolidated financial statements

Regus Group plc Interim Report Six months ended June 2005

Interim consolidated statement of financial position as of 30 September 2018 (Amounts expressed in Turkish Lira ( TL ) unless otherwise indicated.

UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION FOR THE QUARTER ENDED JUNE 30, 2017

IDH Finance plc Quarterly Financial Report 3 months ended 30 June 2016

ZORLU ENERJİ ELEKTRİK ÜRETİM A.Ş. CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS AS OF 30 SEPTEMBER 2013 AND 31 DECEMBER 2012

INEOS GROUP HOLDINGS S.A. Quarter ended June 30, 2013

FRS 102 LIMITED. Example Financial Statements For the year ended 31 December 2015

(a) Business combinations: those prior to the transition date have not been restated onto an IFRS basis.

Transcription:

Registered number: 08514872 UNAUDITED FINANCIAL STATEMENTS FOR THE 3 MONTHS ENDED 28 FEBRUARY

INTERIM CONDENSED CONSOLIDATED PROFIT AND LOSS ACCOUNT (unaudited) FOR THE PERIOD ENDED 28 FEBRUARY (1) Restated 3 Months ended 13 Weeks ended 25 February Note Revenue 236,606 240,631 Cost of sales (88,559) (92,357) Gross profit 148,047 148,274 Operating expenses: Headline operating expenses (91,943) (86,672) Depreciation & amortisation (13,980) (13,129) Exceptional operating items (1,859) (908) Operating profit 40,265 47,565 Headline operating profit (2) 42,124 48,473 Finance income 33 25 Finance expenses 2 (31,944) (57,817) Net finance costs (31,911) (57,792) Profit/(loss) before income tax 8,354 (10,228) Tax (8,674) (10,122) Loss for the year (320) (20,349) Attributable to: - Owners of the parent (371) (20,406) - Non-controlling interests 51 57 (320) (20,349) (1) Restated to include the results of the acquisition of Jogchem's Theaters B.V. (2) Before exceptional items All amounts relate to continuing operations. 2

INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (unaudited) FOR THE PERIOD ENDED 28 FEBRUARY (1) Restated 3 Months ended 13 Weeks ended 25 February Loss for the year (320) (20,349) Items that may subsequently be reclassified to profit or loss Translation (losses)/gain on net investments (1,382) 36,197 Total comprehensive (loss)/income for the year (1,702) 15,848 Attributable to: - Owners of the parent (1,753) 15,791 - Non-controlling interests 51 57 (1) Restated to include the results of the acquisition of Jogchem's Theaters B.V. 3

INTERIM CONDENSED CONSOLIDATED BALANCE SHEET (unaudited) AS AT 28 FEBRUARY (1) Restated As at As at Notes Non-current assets Property, plant and equipment 3 337,339 343,789 Goodwill and intangible assets 863,471 864,137 Investments 185 185 Deferred tax asset 27,152 31,313 Trade and other receivables 5 2,861 2,799 Total non-current assets 1,231,008 1,242,223 Current assets Inventories 4 4,560 4,578 Trade and other receivables 5 58,708 61,981 Cash and cash equivalents 6 131,446 102,946 Total current assets 194,714 169,505 Total assets 1,425,722 1,411,728 Current liabilities Trade and other payables 7 170,555 171,061 Interest-bearing loans and other liabilities 8 5,834 5,978 Provisions 9 990 987 Total current liabilities 177,379 178,026 Non-current liabilities Trade and other payables 7 48,523 48,455 Interest-bearing loans and other liabilities 8 1,403,754 1,386,149 Provisions 9 100,554 102,273 Deferred tax liability 3,354 3,354 Total non-current liabilities 1,556,185 1,540,231 Total liabilities 1,733,564 1,718,257 Net liabilities (307,842) (306,529) Equity Share capital 10 4,718 4,718 Share based payment reserve 7,312 6,798 Retained losses (319,947) (318,194) Equity attributable to owners of the parent (307,917) (306,678) Non-controlling interests 75 150 Total equity (307,842) (306,529) (1) Restated to include the results of the acquisition of Jogchem's Theaters B.V. 4

INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (unaudited) FOR THE PERIOD ENDED 28 FEBRUARY Share Share Based Payment Retained Noncontrolling Total Capital Reserve Earnings Total entity Equity Balance at 2015 4,718 4,743 (247,259) (237,797) 111 (237,686) (Loss)/Profit for the period Other comprehensive income for the period - - (121,472) (121,472) 39 (121,432) - - 52,948 52,948-52,948 Total comprehensive (loss)/income for the period Share based payments Dividend paid Reserve arising from group restructure - - (68,524) (68,524) 57 (68,467) - 2,055-2,055-2,055 - - - - (18) (18) - - (2,412) (2,412) - (2,412) Balance at 4,718 6,798 (318,194) (306,678) 150 (306,529) (Loss)/Profit for the period Other comprehensive loss for the period - - (371) (371) 51 (319) - - (1,382) (1,382) - (1,382) Total comprehensive (loss)/income for the period - - (1,752) (1,752) 51 (1,701) Share based payments - 514-514 - 514 Dividend paid - - - - (127) (127) Balance at 4,718 7,312 (319,947) (307,917) 75 (307,842) 5

CONSOLIDATED CASH FLOW STATEMENT (unaudited) FOR THE PERIOD ENDED 28 FEBRUARY (1) Restated 3 Months ended 13 Weeks ended 25 February Notes Net cash from operating activities 11 58,606 51,460 Investing activities Interest received 33 23 Purchases of property, plant and equipment (6,670) (8,167) Landlord contributions received - 1,459 Net cash used in investing activities (6,637) (6,685) Financing activities Interest paid (18,644) (17,757) Payment of borrowings (2,047) (1,770) Dividend paid (127) - Net cash used in financing activities (20,818) (19,527) Net increase in cash and cash equivalents Cash and cash equivalents at beginning of period 31,150 25,248 102,946 53,841 Exchange (losses)/gains on cash and cash equivalents (2,650) 7,150 Cash and cash equivalents at end of period 131,446 86,239 (1) Restated to include the results of the acquisition of Jogchem's Theaters B.V. 6

NOTES TO THE FINANCIAL STATEMENTS (unaudited) 1. BASIS OF PREPARATION The financial statements have been prepared in accordance with International Financial Reporting Standards ( IFRS ) as adopted by the European Union and the Companies Act 2006 applicable to companies reporting under IFRS. The Group financial statements comply with Article 4 of the EU IAS Regulation. The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Group's accounting policies. 2. FINANCE COSTS 3 Months 13 Weeks ended ended 25 February 000 '000 Senior secured notes and bank loans 14,282 11,771 Amortisation of capitalised issue costs 70 347 Shareholder loans - rolled up interest 18,148 14,274 Unwinding of discount factor on provisions 456 686 Exchange (gains)/losses (1,012) 30,739 31,944 57,817 3. PROPERTY, PLANT AND EQUIPMENT Opening net book value 343,789 349,139 Additions 5,890 28,837 Disposals (119) (407) Depreciation (13,363) (52,642) Impairment charge - (8,382) Foreign exchange gain 1,263 26,379 Fair value adjustments (121) 865 4. INVENTORIES 337,339 343,789 Finished goods and goods for resale 4,560 4,578 7

NOTES TO THE FINANCIAL STATEMENTS (unaudited) 5. TRADE AND OTHER RECEIVABLES Current trade and other receivables Trade receivables 28,290 26,473 Prepayments 22,226 23,738 Other receivables 7,726 11,367 Intercompany receivables 466 403 58,708 61,981 6. CASH AND CASH EQUIVALENTS Cash - unrestricted 124,523 96,014 Cash - restricted 6,923 6,932 7. TRADE AND OTHER PAYABLES 131,446 102,946 Current trade and other payables Trade payables 40,200 52,224 Accrued expenses 76,528 74,684 Taxation and social security 8,388 4,386 Project & construction payables (Inc accruals & retentions) 8,985 9,388 Deferred income 36,454 30,379 170,555 171,061 Non-current Trade and other payables Deferred Income 48,523 48,455 8

NOTES TO THE FINANCIAL STATEMENTS (unaudited) 8. BORROWINGS 1000 1000 Unsecured borrowings at amortised cost Shareholder loans 678,437 660,303 678,437 660,303 Secured borrowing at amortised cost Senior secured euro - floating notes 298,308 298,211 Senior secured sterling - fixed notes 295,448 295,145 Senior Term Loan B 99,891 99,819 Finance lease liabilities 37,394 38,856 External loans 800 553 Unamortised capitalised bank fees (692) (759) 731,149 731,825 Current 5,834 5,978 Non-current 1,403,754 1,386,149 Total 1,409,588 1,392,127 Senior Secured Notes Senior secured floating rate euro denominated notes of 290m were issued on 18 July 2013 with a termination date of 15 July 2020. Interest is floating at three month EURIBOR plus a margin of 525 bps. Interest is payable on a quarterly basis. An Original Issue Discount fee (OID) of 1.2m ( 1.0m) was paid on the date of issue of the notes. A further 70m issue of the senior secured floating rate euro denominated notes occurred on 11 November 2014 with the same terms as the previous notes. The termination date is 15 July 2020. Interest is floating at three month EURIBOR plus a margin of 525 bps and is payable on a quarterly basis. An Original Issue Discount fee (OID) of 1.8m ( 1.4m) was paid on the date of issue of the notes. Senior secured fixed rate sterling denominated notes of 300m were issued on 18 July 2013 with a termination date of 15 July 2020. Interest is fixed at 7.875% and payable on a semi-annual basis. A senior secured floating rate euro denominated term loan of 120m was issued on 29 July. Interest is floating at three month EURIBOR plus a margin of 550 bps. Interest is payable on a quarterly basis. An Original Issue Discount fee (OID) of 0.6m ( 0.5m) was paid on the date of issue of the loan. This loan is repayable on 29 July 2023. Shareholder loan notes Shareholder loans bear interest of 11.0% and have a termination date of 9 August 2033. Early repayment can be requested but not before the termination of the senior secured notes. 9

NOTES TO THE FINANCIAL STATEMENTS (unaudited) 8. BORROWINGS (Continued) Security The senior secured notes and revolving credit facility are secured by cross guarantees and charges over certain of the Group's shares and assets. Capitalised issue costs Costs incurred in issuing the senior debt and the credit facility are capitalised and are allocated to the profit and loss account over the life of the related debt facility. At borrowings are stated net of unamortised issue costs of 15.7m (: 16.6m). External loans External loans relate to loans from the German Federal Film Fund (FFA). These loans have a variety of maturity dates with the last due to be repaid in 2022. 9. PROVISIONS Property Jubilee Other provisions retirement provisions Total At 100,232 2,041 987 103,260 Additions 6 40-46 Utilised during the period (1,981) (112) - (2,093) Unwinding of the discount factor 456 - - 456 Foreign exchange movement (125) (3) 3 (125) At 98,588 1,966 990 101,544 Analysis of total provisions Current 990 987 Non-current 100,555 102,273 101,545 103,261 10. SHARE CAPITAL Allotted, issued and fully paid 4,718,100 Ordinary shares of 1.00 each 4,718 4,718 10

NOTES TO THE FINANCIAL STATEMENTS (unaudited) 11. CASH GENERATED FROM OPERATIONS (1) Restated 3 Months 13 Weeks ended ended 25 February Loss for the year (320) (20,349) Adjustments for: Income tax expense 8,674 10,122 Net finance costs 31,927 57,804 Loss on disposal of tangible fixed assets 51 80 Depreciation 13,363 12,907 Amortisation of intangible assets 618 661 Decrease in provisions and other non-cash items (1,749) (1,120) Operating cash flows before movements in working capital 52,564 60,105 Decrease in inventories 31 803 Decrease/(increase) in receivables 4,687 (1,995) Increase/(decrease) in payables 2,137 (6,236) Cash generated by operations 59,419 52,677 Taxation paid (814) (1,217) Net cash inflow 58,606 51,460 (1) Restated to include the results of the acquisition of Jogchem's Theaters B.V. 12. ANALYSIS OF CHANGES IN NET DEBT Exchange Interest Other noncash 30-Nov-16 Cash Flow movements charges movements 28-Feb-17 Cash and bank balances 102,946 31,150 (2,650) - - 131,446 Shareholder loans (660,303) - - (18,134) - (678,437) Senior secured notes and loans (693,175) - 629 - (1,101) (693,647) Unamortised capitalised bank fees 759 - - - (70) 689 Finance leases (39,409) 1,182 33 - - (38,194) (1,289,182) 32,332 (1,988) (18,134) (1,171) (1,278,144) 13. TAXATION Income tax is recognised based on management's best estimate of the annual income tax rate expected for the financial period. 14. FINANCIAL RISK MANAGEMENT The interim condensed consolidated financial statements do not include the financial risk management information and disclosures required in annual financial statements. A description of major risk factors considered by the Group can be found in the audited annual report and financial statements of Vue International Bidco plc for the period to, a copy of which is available on the group website (http://corporate.myvue.com /home/investor-relations). 11