MAJOR Hit Hard by Covid-19 to Record a Net Loss of ฿527Mn in 2020

Major Cineplex Group Public Company Limited (MAJOR) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;

MAJOR’s net loss for year 2020 was 527 million baht representing a decrease of 1,934 million baht 137% compared with the last year, mainly due to a temporary closure the business of the company from March 18th , 2020 to May 31st, 2020 from the outbreak situation of the COVID-19 virus and reopened June 1 st , 2020 significantly impact on revenue from lineup of Hollywood blockbusters postponed including the number of movies on showing are less than last year.

 

Total revenues was 3,765 million baht, comprising service income was 2,868 million baht and sales income was 897 million baht, that had decreased 6,932 million baht or 65% compared with the last year. 

 

Cost of sales and services was 3,164 million baht representing a decrease of 3,692 million baht 54% compared with the last year after restarting. The significant causes due to the decreased of Film hire cost according to closure of the cinemas.

 

Selling and administrative expenses were 1,900 million baht representing a decrease of 730 million baht or 28% compared with the last year after restarting. The significant causes due to efficiency management of expenses according to the outbreak situation of the COVID-19 virus.