Cineworld Trade Agreement and FY22 Revenue Guidance Update

Vista Group signs Trade Agreement with Cineworld Group and updates FY2022 revenue guidance

Vista Group is pleased to announce that today it has entered into a trade agreement with key customer, Cineworld Group, as part of Cineworld’s chapter 11 process. Under the trade agreement Cineworld Group has agreed to pay certain pre-chapter 11 amounts owing to Vista Group, and committed to continue to use the software and services of Vista Group’s companies under the terms of its existing agreements.

On 7 September 2022, Cineworld Group Plc. (LON:CINE) filed for chapter 11 of the United States Bankruptcy Code. Cineworld Group is one of the largest cinema circuits globally, operating more than 750 cinema sites across 10 countries under the Cineworld, Regal, Picturehouse, Cinema City and Yes Planet cinema brands.

Kimbal Riley, Vista Group Chief Executive Officer, said: “Vista Group and Cineworld have a strong partnership developed over a number of years. We are pleased that Cineworld has committed to the partnership continuing on its current terms into the future.”

Vista Group also updates its revenue guidance for FY2022 to between $131 million - $135 million (up from $123 million - 128 million) as a result of good recurring and non-recurring revenue performance, favourable foreign exchange movements, recent improvements in the collection of aged receivables, and, in connection with the trade agreement, the release of provisions in respect of amounts owed by Cineworld.

For further information please contact:

Kimbal Riley
Chief Executive Officer
Vista Group International Limited
Contact: +64 9 984 4570

Matt Cawte
Chief Financial Officer
Vista Group International Limited
Contact: +64 9 984 4570

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Announcement PDF