VGL – Market Announcement
____________________________________________________________________________________________
Vista Group International Ltd, Shed 12, City Works Depot, 90 Wellesley St West, Auckland 1010, NZ
Market Announcement
22 August 202 2, Vista Group International Ltd, Auckland, New Zealand
Auckland, New Zealand, 22 August 2022 – Vista Group (NZX & ASX:VGL) updates the
market on media speculation regarding the financial position of Cineworld Group Plc
(LON:CINE).
Cineworld is the owner of Cineworld (UK), Regal (USA) and Picturehouse (UK) cinema
circuits, and is one of the top ten cinema circuits globally. It is a key customer for Vista Group
and uses almost all of the Group’s technology.
Cineworld has yet to respond to recent media statements and so the status of its ’ financial
position, and intended response, remains unclear and unconfirmed. However, it is public
information that Cineworld has a significant debt burden. It is also generally understood that
the current situation is specific to Cineworld and does not reflect the status of the wider
cinema industry.
Vista Group is continuing to monitor the situation closely, but does not expect it to have a
material impact on the current year guidance. Some form of receivables provisioning may be
required depending on future circumstances.
Kimbal Riley, Vista Group Chief Executive, commented “Cineworld remains a valued Vista
Group customer and our technology continues to play a vital role in enabling Cineworld to
operate. We will continue to provide the Cineworld team with the best possible support over
this challenging time.”
“Given the strength of the recent box office and the quality of the up-coming slate, including
movies such as Black Adam, Black Panther: Wakanda Forever and Avatar 2: The Way of
Water, we continue to see positive news across the industry and trust that Cineworld will have
the opportunity to share fully in that.”
Vista Group releases it FY22 half year results on Monday, 29 August 2022.
For further information please contact:
Matt Cawte
Chief Financial Officer
Vista Group International Limited
Contact: +64 9 984 4570
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.