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International Internet Magazine. Baltic States news & analytics Wednesday, 24.04.2024, 08:00

Turnover of Apollo Kino reaches EUR 4.35 mln in last FY

BC, Riga/Tallinn, 25.11.2020.Print version
Apollo Kino movie theater operator in the last financial year from May 1, 2019, until April 30, 2020, which was the first full year of business operations, posted EUR 4.35 million in turnover, while the company's loss reached EUR 95,766, writes LETA, according to Firmas.lv.

The company's management reported that the company launched business on April 4, 2019, when Akropole shopping center was opened in Riga.


Last year's results were affected by the state of emergency related with the Covid-19 outbreak in spring as the movie theater was closed from March 15 until the middle of June. Thus, in the current fiscal year, the company expects a drop of turnover and bigger loss.


In February 2021, the company plans to open another movie theater - in Riga Plaza shopping mall.


Apollo Kino is one of subsidiaries of Estonian Apollo Group. The company was registered in 2014, and has a share capital of EUR 2,800.


Apollo Group is a holding company that owns Apollo bookstores, Apollo movie theaters, O'Leary's entertainment centers, Blender juice bars and IceCafe ice cream cafes, as well as film distributor Baltic Film Distribution. Apollo Group is owned in majority by Margus Linnamae and Ivar Vendelin.




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