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The largest in Russia by revenue cinema chain PepsiCo will pay about $2 million fine

Крупнейшая в РФ по объему выручки сеть кинотеатров заплатит PepsiCo около $2 млн штрафа

The network “Sinema Park” Alexander Mamut in 2019 paid the fine, OOO “PepsiCo holding” for non-performance on a sample of quarterly production volume at the supply contracts of beverages, goods and products in the cinemas.

The costs of payment of a fine in the amount of 121,609 million rubles (about $ 2 million) included in “other expenses”, stated in the financial statements of JSC “cinema Park”.

The default was due to the decision of the leadership network about the change of the main supplier of beverages in kinobori and supply agreement with OOO “Coca-Cola HBC Eurasia”.

According to analytical system “SPARK-Interfax”, “cinema Park” is Russia’s largest cinema chain by revenue.

In 2019, the revenues of JSC “cinema Park” has grown on 10%, to 11,069 billion rubles, follows from the statements of the company for the company. Including revenue from film distribution increased by 11.5% to 7.44 billion rubles, revenue from activities of Kinabalu – 8.2%, to 2,329 billion.

Cost of sales increased by 8.1% to 9,232 billion. In its structure a significant share of the cost of acquisition of content (contributions to the distributors, to the Russian copyright society (RAO) etc.). Last year, these expenses increased by 12.8%, to 3,829 billion. Expenses for rent and maintenance of premises and equipment increased by 9% to 3,002 billion.

The company’s gross profit increased by 20.3%, to 1,836 billion. Profit from sales increased 1.7 times to 791,322 million.

2016 JSC “Sinema Park” remains unprofitable. In 2019, the net loss reached a record high of 4.14 billion (in 2018 668,424 million rubles). The loss increased on the background of the increase of other expenses of the company – more than 9 times, to 4.18 billion, primarily due to spending on the formation of provisions for devaluation of financial investments (3,911 billion).The sole owner of JSC “cinema Park” is a Cypriot CP Invest (Overseas) Limited, the beneficiary of which is Mamut. The structure of Mamut has bought “cinema Park” in 2017, said Kerimov. A month later, after the transaction, Mamut acquired the network “Formula Kino” in A1.

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