MADRID: Ymagis the European specialist in technologies for the cinema industry, today reported its consolidated revenue figures for the third quarter of 2016 and first nine months of the 2016 fiscal year ended on the 30th of September.
In line with the Group’s strategy, its services business units have positively impacted third quarter revenue, compensating for the anticipated decrease in profits generated by the VPF business unit due to the end of the financial model in Austria and Poland at the end of last year.
The VPF business unit reported a 4% decrease in revenue at €17.7M for the third quarter. For the first nine months of 2016, revenue generated by VPF activities is down 5.7% at €52M compared to €55.1M in the prior year period with 6,029 screens under contract compared to 6,395 as of 30 September 2015.
The Exhibitor Services business unit, which includes consolidated revenue from acquisitions Proyecson (Spain) and R2D1 (France), reported a significant increase in sales in the third quarter with revenue of €41.6M for the first nine months of 2016 as of 30 September. While the replacement of first-generation digital projection systems has not yet been implemented, the market remains favorable with new cinema builds and sustained investments by cinema exhibitors in new image and sound technologies.
