GROUP OVERVIEW
CORPORATE PROFILE
Since commencing operations in 1968, Bahrain Cinema Company (Cineco) has grown to become a prominent regional entertainment group, with operations spanning the GCC. Underpinned by its unique experience, pioneering innovations and passion for customer satisfaction, the Group’s core business activities comprise cinemas, restaurants, indoor entertainment centres, and real estate investment.
GROUP'S HIGHLIGHTS
CINEMAS
Cineco currently operates cinemas in three GCC countries. The market leader in Bahrain and Qatar, the Group recently entered the UAE market, and has also applied for a cinema operating licence in Saudi Arabia. A regional pioneer and innovator, Cineco has been instrumental in introducing the latest theatre aesthetics and cinematic technologies, which have transformed the overall movie-going experience.
DINE-IN AND TAKE AWAY RESTAURANTS
The Group owns and operates a growing range of popular dine-in and takeaway restaurants in Bahrain. The Rendezvous, Taka Tak and Red Dragon brands offer a diverse choice of cuisines including Arabic, Indian, Continental and Chinese. To support its planned entry to other GCC markets, Cineco recently established a new subsidiary to manage restaurant activities in Saudi Arabia.
FAMILY ENTERTAINMENT AND LEISURE CENTRES
In line with its strategy of business diversification and geographic expansion, the Group is currently developing a regional network of innovative family entertainment and leisure centres. These will offer exclusive indoor electric go-karting, plus other activities such as a mirror maze, rope climbing and roller skating.
REAL ESTATE PROPERTIES
Selective investment in land and revenue-generating real estate properties provides the Group with a stable source of recurring income, as well as supporting its charitable endeavours. Cineco’s flagship property in Bahrain – Awal Plaza – is located in one of the busiest and most densely-populated areas of Manama. Launched in 2017, this mixed-use residential and commercial development has achieved a significantly high level of occupancy by reputable institutional tenants.
CORPORATE SOCIAL RESPONSIBILITY (CSR)
Cineco has an enduring legacy of supporting the economic development, social well-being and environmental sustainability of the Kingdom of Bahrain. The Group delivers its commitment to act as a concerned corporate citizen through a comprehensive corporate social responsibility (CSR) programme.
LISTED ON BAHRAIN BOURSE
Established by Amiri Decree in 1967, Cineco was listed on the Bahrain Stock Exchange (now the Bahrain Bourse) in 1989. As at 31 December 2018, the Group had 503 shareholders, primarily comprising Bahraini institutions and individuals; and a market capitalization of BD 87.62 million. For the past 13 years, Cineco has consistently distributed annual dividends of 50 per cent to shareholders. Strongly capitalised, largely unleveraged and highly liquid, the Group’s net worth stood at BD 74.67 million at the end of 2018. Cineco is fully compliant with Principles of the Corporate Governance Code of the Kingdom of Bahrain issued by the Ministry of Industry, Commerce & Tourism.
