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VUE Did Not Enjoy The World Cup

23 July 2014 by HCM

In a session during which no macro news hit the tape, the theme was mainly “risk on” across the board. The move was not violent, but it was broad based. That said, there were a few exceptions, as the reporting season is now well into its third week and sometimes leads to some idiosyncratic moves. VUECIN (Vue) reported results for the second quarter of 2014, that were generally perceived as weak, with revenue declining 7% compared to a year earlier while EBITDA decreased 14%. Admissions were down 8.4%, and Vue also lost 0.7% market share during the quarter. And that was only until the end of May. The current trading statement given by the company indicated that the turnover was meaningfully impacted by the World Cup. Admissions for June were down 21% in England, 14% in Poland and 40% in Germany. I guess an all-South-American semi-final line up would have suited them better.