CJ CGV Q3 Revenue 547 Billion KRW... Up 34.9%

Operating Profit of 32.1 Billion KRW, Net Income of 8 Billion KRW

CJ CGV announced on the 8th that it recorded sales of 547 billion KRW, operating profit of 32.1 billion KRW, and net profit of 8 billion KRW in the third quarter.

Yonhap News

Sales increased by 34.9% compared to the same period last year. CGV explained, "This is the result of the synergy with CJ OliveNetworks, which was incorporated as a subsidiary last June, becoming fully effective," and added, "Even excluding the performance of subsidiaries CJ 4Dplex and CJ OliveNetworks, the theater industry showed a gradual recovery trend, achieving operating profit in the black."

Domestic sales amounted to 209.3 billion KRW, with an operating profit of 4.3 billion KRW. Sales rose due to the success of hits such as 'Veteran 2', 'Pilot', 'Inside Out 2', and 'Lim Young-woong│I'm Hero The Stadium'.

CJ 4Dplex recorded sales of 40.2 billion KRW and operating profit of 5.1 billion KRW. Special theaters including ScreenX have expanded globally, and the number of related content productions increased, resulting in sales growth of over 60% compared to the previous year.

In China, sales were 70.1 billion KRW, with an operating profit of 3.2 billion KRW. Although sales slightly decreased due to market contraction and closure of inefficient sites, structural improvements maintained the operating profit in the black.

In Vietnam, sales reached 47.2 billion KRW and operating profit was 3.2 billion KRW. Growth was recorded not only due to the success of the local film 'Lam Jaru Boima' but also through achievements in concession and distribution sectors.

In Indonesia, sales were 23.9 billion KRW and operating profit was 2.6 billion KRW, continuing the profit trend. Local films such as 'Sekawan Limo' and 'Gangmak' were hits, expanding sales compared to the same period last year. CGV added, "Operating profit surpassed the record of the same period in 2019 before COVID-19."

In T?rkiye, sales were 26.8 billion KRW, with an operating loss of 1.9 billion KRW. The success of Hollywood films such as ‘Deadpool and Wolverine’, ‘Inside Out 2’, and ‘Despicable Me 4’, along with cost structure optimization, reduced operating losses by 1.3 billion KRW.

The newly consolidated CJ OliveNetworks recorded sales of 183 billion KRW and operating profit of 16.4 billion KRW. Both grew compared to the same period last year due to expanded external business orders and cost structure improvements.

This content was produced with the assistance of AI translation services.