Cineplex galaxy income fund 2006 second quarter
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Cineplex Galaxy Income Fund 2006 Second Quarter. Cineplex Entertainment Circuit. Cineplex Odeon. Famous Players. Galaxy Cinemas. Theatres: 52 Screens: 507. Theatres: 54 Screens: 575. Theatres: 25 Screens: 213. As of June 30, 2006. Famous Players Acquisition - Rationale.

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Cineplex galaxy income fund 2006 second quarter l.jpg
Cineplex Galaxy Income Fund 2006 Second Quarter


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Cineplex Entertainment Circuit

Cineplex Odeon

Famous Players

Galaxy Cinemas

Theatres: 52Screens: 507

Theatres: 54Screens: 575

Theatres: 25Screens: 213

As of June 30, 2006


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Famous Players Acquisition - Rationale

The leading film exhibitor in Canada

Accretive to distributable cash

Complementary operations will lead to cost savings

Opportunities to increase distributable cash through revenue growth

Increase advertising market share and other income

Addition of high quality theatres in metropolitan markets

Superior combined management


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Box Office Market Share

Combined After Divestiture

Cineplex Galaxy

Cineplex Galaxy32.1%

Cineplex Entertainment64.2%

Empire 13.6%

Other 6.9%

Other 9.8%

AMC 6.3%

AMC 6.3%

Empire 6.0%

Landmark 3.1%

Landmark 3.1%

Guzzo 3.0%

Guzzo 3.0%

Famous Players42.6%

Market Share of Canadian Box Office Revenues

Source: A.C. Nielsen EDI data


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Six Top-Tier Brands

Colossus3 theatres

Coliseum4 theatres

SilverCity22 theatres

Cineplex Odeon52 theatres

Galaxy25 theatres

Famous Players25 theatres

As of June 30, 2006


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Industry

overview


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Consistent Long-Term Box Office Revenue Growth

CAGR since 1965: 5.6%

Canadian Recessionary Periods

Canadian Box Office Revenue1965 - 2005


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Industry Box Office

2005 Q2 06 YTD Q3 To Date

Canadian Industry*

Cineplex Entertainment

-8.6% +1.5% +8.5%* -6.1% +3.9%

* Week ending Aug. 17/06

* Source: Motion Picture Theatre Associations of Canada


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Highest Grossing Films in 2005

Star Wars: Episode III$380 M

The Chronicles of Narnia $291 M

Harry Potter and Goblet of Fire$290 M

War of the Worlds$234 M

King Kong$218 M

Source: Box Office Mojo


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Highest Grossing Films in 2006

Pirates of the Caribbean 2$401 M

Cars$239 M

X-Men: The Last Stand$234 M

The Da Vinci Code$217 M

Ice Age: The Meltdown$195 M

Source: Box Office Mojo


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Upcoming Films for 2006

Happy FeetNovember 2006

Charlotte’s WebDecember 2006

Night at the Museum December 2006

Casino Royale November 2006

The Santa Clause 3 November 2006


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Company

overview


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Increasing Revenue per Guest

$12.28

$12.51

$11.23

$10.84

$10.27

$9.83

Revenue per Guest


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Synergies

Reducing overhead costs and adopting best practices

Consolidating two head offices

Staff reductions

Adopting best practices

Enhanced revenues

Operating savings

Media sales efficiencies and effectiveness

Creation of Cineplex Media

Improved purchasing and merchandising opportunities

Supplier contracts

Merchandising strategies

Concession management

Three Core Synergies:


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Acquisition Synergies

Prospectus Q1 Current

Annualized Synergies: ($ millions)

General and Administrative $15 $15 $15

Media 5 5 9

Operations - 5 6

Total $20 $25 $30


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Looking Into the Future

Leverage Over 60 Million Guests

MagazineIn-TheatreInteractive Media-WebLoyaltyNaming Rights



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Growth

Other income initiatives

Digital pre-show network

Cineplex Media

Alternative programming

Merchandising

Theatre openings


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Digital Pre-Show Network Rollout Plan

Phase 1:

Phase 2:

April 1 LaunchToronto Extended Market Area- 21 Locations; 215 Screens

CompleteNationwide - Additional 800+ ScreensTOTAL 89 theatres & 1020 screens


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Cineplex Media

Magazine publishing:

Famous Magazine, Famous Kids, Famous Quebec

In-theatre advertising:

Magazine, onscreen, posters, monitors, buildings, naming rights



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Merchandising

$3.72

$3.44

$3.04

$0.56

$0.39

$0.20

Concession Per Patron



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New Theatres for 2006/07

Brand Location Screens Opening

Galaxy Milton 8 June

Cineplex Odeon Brossard 16 June

Galaxy Brockville 6 July

Galaxy Saskatoon 12 September

Cineplex Odeon Oshawa 10 Q4

Galaxy Collingwood 7 2007

SilverCity Burloak 12 2007

SilverCity Hamilton 10 2007

8 Theatres 81 Screens


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Financial

highlights


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Annual Total Revenue

1,275

1,269

775

740

$740.0

394

678

613

$490.3

$353.7

$330.0

$316.4

$250.2

$197.5

Screen Count

($ millions)

2005 excludes divestitures and includes FP for partial year


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Annual Attendance

(millions)

2005 excludes divestitures and includes FP for partial year


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Annual EBITDA

EBITDA Margin

Adjusted EBITDA Margins – LTM March 2005:

CGX 20.2%

FP 9.0%

($ millions)

2005 EBITDA excludes divestitures and non-recurring/transaction related items and includes FP for partial year




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Adjusted EBITDA – 6 months ended June 30

+234%

Margin 15.4% 5.8% 13.1%

($ millions)


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Credit Facilities

Development facility

Capacity - $60 million

Working capital facility

Capacity - $50 million

Term facility

Capacity - $235 million



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