CJ CGV recorded a consolidated revenue of 491.6 billion won and an operating profit of 1.7 billion won in the second quarter of this year.
According to the electronic disclosure system on the 8th, CJ CGV's revenue increased by 14.3% compared to the same period last year. While operating profit dropped by 92.3%, it remained in the black.
CJ CGV explained that its revenue grew due to the expansion of the CJ 4DPLEX technology special theater, the increased performance of content, and the effect of consolidation of CJ OliveNetworks. CJ 4DPLEX recorded revenue of 30 billion won and an operating profit of 2.3 billion won.
The technology special theaters, including 4DX and SCREENX, drove a revenue increase of 28.2%. This was the result of the success of the 'Minecraft Movie' and 'Mission: Impossible - Dead Reckoning', along with an increase in the number of special technology theaters compared to last year.
In Indonesia, local content showed strength during the Lebaran holiday period, recording revenue of 36.4 billion won and an operating profit of 8.9 billion won. In Vietnam, revenue reached 57.4 billion won and operating profit was 8 billion won, boosted by local content and the success of the Japanese animation 'Doraemon: The Movie - Nobita's Picture Diary'.
However, in China, revenue was 38.4 billion won and an operating loss of 11.6 billion won was incurred. It was explained that the market contracted due to a lack of content releases following the record-breaking performance of 'Yourena 2' in the first quarter, resulting in declines in both revenue and operating profit.
In Turkey, revenue was 29.2 billion won, with an operating loss of 3.9 billion won, impacted by the off-peak season and inflation.
In Korea, revenue was 141.8 billion won, and an operating loss of 17.3 billion won was recorded due to a lack of hits and a shrinking national film market. CJ CGV noted that efforts to improve the expense structure and enhance workforce efficiency minimized the extent of the deficit.
CJ OliveNetworks recorded revenue of 197.5 billion won and an operating profit of 17.3 billion won. The expansion of orders centered on smart logistics and retail tech drove the growth.
The revenue distribution by institutional sector was as follows: ONS (OliveNetworks business sector) 37%, overseas theaters 30%, domestic theaters 27%, and 4DPLEX 6%.
CJ CGV is expecting performance improvements in the third quarter due to the overseas expansion of CJ 4DPLEX, the government's distribution of movie consumption coupons, and the anticipated release of summer blockbuster films.
CJ 4DPLEX plans to accelerate growth by expanding technology special theaters through big deals with overseas theater operators, including 65 AMC locations and 50 Cinepolis locations.
In Vietnam, plans are underway to expand content with local offerings and live K-pop performances, while in Indonesia, differentiated services will be provided. In China, the resumption of delayed content releases is anticipated.
In Turkey, efforts will continue to minimize losses through expense efficiency while alleviating the burden of fixed costs due to high inflation in line with a declining inflation trend.
CJ OliveNetworks aims to maintain its growth momentum, focusing on its core businesses such as smart logistics, factory automation, entertainment tech, retail tech, and cloud, based on artificial intelligence transition.