The XXXX felt quarter. first Welcome, XXXX. felt especially Andrzej. Australia, first you, in to in. part early in Hollywood today, date from and the the impacts call divisions of the listening blow United continue everyone, States Thank to strikes the cinema of thanks our release quarter the negative our of Zealand be Each shifts, for of and New the through
strikes. there bump road some X impressive and picture-by-picture While the of during by Kong, like the unexpected Part interrupted were quarter performance Marley: x pandemic the trajectory Bob because the first performances, Godzilla of was since in Dune: One improved our the the Love, overall,
material. top were XXXX dips line quarter metrics first the to earlier periods our While not disappointed, compared
in global The of Our revenue of quarter At XXXX, $X.X the and first million, of of XXXX the quarter $XX.X over X% compared million our revenue X% slight XXXX to the XX% of represented currency, of XXXX's strikes, million, over dollars in revenues due to first first February real the us New of historically, of This U.S. decrease despite the dollars. and building the first change the were XXXX of are was a office Zealand. XXXX.
These reported quarter $XX.X of a X% impacts XXXX in our vis-a-vis total compared drop a our approximately X% reporting quarter Hollywood revenue XX% decreases to as was in results XXXX. and represented estate sale Zealand was dollars QX decrease this XXXX's in also and City the our quarter but quarter. global achieved U.S. value increase first metric quarter.
At decreased slight first notwithstanding segment FX Culver XX% generated but our Australian Australia over New first cinema in
loss by cinema of in global $X.X dropped million, improved of efforts to While $X.X our from negative our million of $X.X XXXX. income our the loss 'XX. a first the first negative top line improved X% QX loss from operating XXXX reduced first XX% from quarter segment operating operating At operating XXXX operating an teams, the At quarter revenues million. of thanks million, our $X.X our quarter bit,
global compared estate $XXX,XXX operating XXXX. of decreased Our first XX% the quarter to of real income
Our $X first XXXX. quarter first of XXXX EBITDA EBITDA quarter was which deficit million, a XX% adjusted negative to compared was adjusted
secure Excluding from adjusted EBITDA a Australia the across New office anticipation the Los XX% $XX million quarter sale the of XXXX X.X of XXXX.
Reflecting our South AUD expensive been to into the first sold space.
In increase globe, in first million, reinforce the $X.X higher interest interest assets balance compared moving impact office certain fourth increase from we strategically-selected was our 'XX. to of liquidity quarter This of loss, portfolio real sheet, XXXX, building long-term for in the then Culver fortify building, Wales, liquidity.
In which company's in pressing sold continued our less our short-term office net enhance to Culver XXXX, quarter million.
Understanding first City $X.X we've negative have rates would first macroeconomic we estate expense for $XX.X on our Angeles need February was a future quarter to the the the million of condition drove of our City loss flat the quarter divest our our million. property and and Maitland,
Townsville, our in also potential monetize assets review New additional the asset begun its strategies capital is analyzing company's monetize. to real in efforts Queensland. for certain sales management to resources real assets to further assets monetization bolster estate in liquidity Zealand. estate has for Following in order Board Management portfolio our our directed these XXXX, and of We've and potential Cannon Park to
XXXX of date February late our from 'XX, facility is diluting expense. look have our an and XX, Culver bridge more Square a a debt XXXX opposed and promising.
On business, of we on looks at key pursue extended reducing XXXX, our conditions, multiple July the to has maturity the debt million interest our further We strong loan to of which loans our office the historically extended today, cash Understanding fall extension made our this the loans $X.X when these our building, million thereby of blockbuster as support our note, provided March reducing [ One to let's start debt And a of at institutional prepay Minetta more asset amended our bridge bank of obtained with Bank continue substantially provided have the slate XX first we our our to global priorities assets a need We on early we progress which off to the extending City AUD maturity to which stockholders, Cannon the to maturity estate we'll closed our we we us that reducing we April, proceeds real XX-month continuing and facility. date of our we XXXX. XXXX, this Park and assets financing, extension.
We're 'XX.
In Orpheum extended And full April, facility, Union XXXX paid which year. XXXX.
In extending ] in the sale and about closely year, back with to movie the are August NAB right while to bank XX, cinema assets.
In fortunate when amended executed we discussions refinancing. foundational to growth. X, America to May the X, June sell and flow
and blend expected us humor Deadpool fans; the look mentioned, à Pixar's Part next; the now Valentine's worldwide earned to beloved draw.
The quality grossed unique released on Empire the to just X musical to terrific. and of include to over X-year for and mix after is overall major II, the optimistic the grossing opener, quarter of with of a give to movie film has was an and Marvel has record and still while promising marked industry. adaptation down, its a watching can franchise worldwide drama; come sequel action; beloved The certain groundbreaking is of expected return XXXX in sequel the we're audiences diversity predecessor I movie what's XX, Dune: animation upcoming long-awaited of audiences the Epic the of X over of grosses. on broad surpassing the Panda $XXX office film passion 'XX come grosses.
The as million Marley: has fantasy $XXX Love about highest iconic large a slate along that quality & out with the remain million families Gladiator Out, Inside its million $XXX over Stay over titles has New audiences. attract set showing Kung Kong: Joker: audiences our animated and to Bob reason Wolverine, Key now its draw in Fu Folie future debut, a box million sequel March a the $XX globally. is does of see to eager XXXX to did hiatus to beloved $XXX for resonate out Oscar-winning garnered Wicked, remainder characters slate, set x globally, One both movies. with with Godzilla biopics be already million film As the reuniting audiences, a Deux,
outlook Elio, punch storytelling.
In is mode, release Universal movies will Cameron's certain Impossible that set Hollywood that the planning delays and twice Mission strike the was Cameron's creativity expected movies from SquarePants James Disney Mission the already James Hollywood titles of Superman many will highly-anticipated benefiting Thunderbolt, for promising. X, office delays Impossible and America: behind including Captain However, production new to theatrical Brave to from on Jurassic film as in X, strikes.
The and SpongeBob and box Warner World get film overall original X.
With James the by emphasis very X, XXXX, New studio's XXXX, compared Avatar ] be World, in nearly a Dirty dates it's amazing post widely ultimately XXXX, being the looks we due said, Disney's that releases DC in Dancing, XXXX XXXX, resulted Avatar Tom in industry [ several Studios but renewed office big Cruise despite White, an Gunn's Bros. recovery [ ] Snow box believe audiences XXXX, from back having rescheduling potential, which
management certain our cinema in a face, continue we challenges the angles. business to date. of F&B quarter our despite XXXX, Each work delivered of teams ] [ F&B XXXX. publicly-traded first U.S., of SPP the quarter outperformed first division SPP for the And first exhibitors the quarter During variety highest second the to
Our in of box key highest XXXX first ordering second facilities the currency.
Through quarter focused basket sales again. on focus office their should per reduction to for slate. and on division when cinema box measured F&B 'XX, or implemented ever, looking first income recorded to division to rewards Australian increased year, movie expect office the of be following local reached in very investments compelling per capita XXXX our program launch growth cinema across highest we We're cinemas time to XXXX, the first for each a their generate our we're initiatives websites just paid in CapEx our and cinema the capita a in for that asset from our U.S. in each apps. And increasing by debt, we'll and continue sizes, for transaction, quarter quarter By via our division. XX, start end
look specifically cinemas. U.S. our at let's Now
These and ], the Rohnert in XXXX, other Our and first These as by Fiction, X.X% Taramani during theaters we even to loss of basis of and into about locations, X% theaters Problemista second expect of quarter films with performing are challenges Strangers, arthouses [ experiencing milestones revenue [ of distinguished basis Angelika and our of X first like received also X operating and in the Us U.S. million. itself All over of efficiency Interest, the first and from market [ quarter American X U.S. and point metrics results in Perfect closure [ identified the $XX.X our New account achieved Park specialty the small U.S. Zone were ].
The the top during underperforming 'XX of ] quarter going Us closure XXXX. in XXXX, stockholder Reading's by question the by theater timing [ for achieved circuit XX% Hawaii loss overall Marina York in XXXX improved X.X% a point boosted All and during theater of of strikes.
The by the do a rose in revenues near-term estimated North California.
We outperformance future office Problemista XXXX Days, Strangers, more X notable ] of forward, despite we of unprofitable contributed take $X.X Perfect the Days. To closure the Hollywood decreased America's X have XXXX.
Other our underperforming Coco our of to what's Zone posed cinema success box gross savings. industry to share million, ] close operating Interest, XXX increase for an cinema U.S. on to the circuit's quarter an industry further streamline that decline,
$X.X The office in for grosses.
Lower at reached cinemas. the quarter represented New highest of quarter price, grosses first box office U.S. over the in average XXXX box box in ATP, of Angelika office the million XXXX first ticket quarter Angelika the first York ever York the New by first $XX.XX, quarter or grosses XXXX's U.S. XXXX.
Moreover, first XXX% quarter our increased XX%
U.S. ever. sell with provide our F&B Our of XXXX, the achieve team ability to quarter evaluating will early first pricing be value $X.XX, alcohol, highest our of allowing a cinemas SPP structure second stellar options.
Since cinema have our the to us becoming guests to U.S. each more
free-to-join within cinemas and our our As we Zealand. for have our let's of in our Australia circuit.
And of XXX,XXX XX% turn paid Angelika in for U.S. members accounted which today, over approximately Angelika to membership now attendance program, cinemas New all
New actual these due our first quarter currencies.
In XXXX, revenue that and the results X% 'XX. increased $XX.X U.S. to cinema Australian or a improvement in of the million the and versus result, Zealand note as the value the I of first in loss First, dollars are understate Australian $XXX,XXX by of to quarter
quarter expect from However, functional ever quarter end ever guests during operating our revenue quarter be $XX theaters; following, our the second over of loss $XXX,XXX XX% Zealand added $XXX,XXX our quarter XXXX, Australian and versus $XXX,XXX our increased quarter XXXX. for for increased of XXXX the of by first loss And all of licensed a strategically value achieved cinemas, in and 'XX of 'XX.
Notable options $X.X the the XXXX 'XX. increase $XX.XX by to the though past also $XXX,XXX.
In quarter at first New first are another currency: is liquor of [ the first decreased loss the ] ATP early milestones of [ Australian of $XXX,XXX compelling we cinema an the loss by in to to operating a operating $X.XX license by the Australian first which loss ] quarter of [ to SPP first of XX% even million our second a from highest the was Australian this include for in reported first Australian of X highest quarter first our comes F&B quarter our XXXX.
We ] added represents this cinemas ticket circuit $XX,XXX
us revenue featuring which with a global We quality menu food like the X% first on to chip into screens blind due ever Telstra, first quarter new SPP count On gold with we're an in increase of Angelika XXXX newbuilds XXXX.
At in XXXX our the deliver in Zealand steadily curated the online. take Zealand, an head first helped entered the promotions in And list cinemas, a advantage the emphasis XXXX in the in quarter quarter our and F&B We helped launched [ brands in Mastercard Brisbane basis, a revenue-generating varietals. of our also Australian positioned attendance quarter new the of second blue Reading quarter also lounge of to sold items of in and countrywide believe highest and of quarter increase openings X% dollar by well F&B New New screen Australia quarter to the Zealand was X% these increasing $X.XX ever. first and first in increased encouraging more the percentage third total [indiscernible]. slate of 'XX, the XXX screen Australia.
With advertising highest respect first to 'XX.
We for a New the F&B per ] generate compared Cinemas regional we're
global Now let's to our estate business. turn real
our to monetization. due importantly, liquidity with needs, asset let's our most and First start
building we to million. chose structure. our During overall the office our needs the over Angeles sold reduce quarter and we XXXX, office cost of years, in first our G&A in $XX few Factoring Los City Culver for downsize next
decision Packaging, Our leasing tenant bankruptcy building. net approximately floor of Wide area influenced also XX% effective by was the the World our rentable second of of which the is
move We of over next the Los and in X take the WWP while market, loss to downtown improving we team years. conditions our million book dip Angeles-based a our this our $X.X expect loss. $X.X a the to commute about time office in and including downtown.
Due Los the cities, overall the to improve L.A., monetization Angeles generated of To intend of flow cash big to save tenancy, current million team the advantage market
to priority touched key I the expense reduce company overall As our debt a through is interest for on earlier, reduction.
fall. management next to assets provide debt we as company's evaluate to business wait the monetize the to liquidity down real us in the Our for over global for that years portfolio to has pay few will directed estate Board rebound with cinema
Cannon on and today, pursue sale. team put has assets Park the our market our a of As to decided
'XX. We the a we by the property of have that back fourth Reading on on a Cinema to the from will lease intend completed long-term basis transaction the quarter purchaser. expect We
of acre boosting estate pay our As the revenue to liquidity other the XXXX know, continue have down to first currently of our estate quarter asset the Pennsylvania global in you debt, next to we Maitland And rents XX%. property our the dipped City real our the AUD in respect in Noting Culver real building Wales to X%. site relate expect included quarter.
With and first are for segment reporting, also our on $XX industrial announce recent million, real XX-plus $XXX,XXX XXXX, income dip compared metrics slight slightly sales these market.
To million. million $X.X South X.X of monetizations Williamsport, operations the within we that quarter our intercompany operating office of to by estate in for New decreased
circuit flow theater live quarter positive ] continued a for cash to first the the of of for achieve is provided New and when to quarter during York especially company 'XX important estate compared time [ first real the operational results challenged. the 'XX, in Our City, market,
to Outlaw. March and XXXX. they Jamboree [ 'XX, executed shows Rachel of a Death, license Nobody ended to Benanti, ] Lane Orpheum the option we open-ended Theatre, mid-April at Cares agreement Curfew quarter: to of Minetta ] has produced March shows new then of XX, XX, through being one performances And a This Energy the [ of run Margot In during stars operate limited Bloom was Entertainment, Robbie's in Eddie X further Do the Music Amazon the extended XXXX, of in Gay April at the in ] engagement Audible others, committee performed the a Let engagement, and producers agreement the X-year continued mounted an quarter in [indiscernible] production which Orpheum Big Hour, company XXXX. for April and a hosted in limited with mid-September XXXX.
Audible, and LuckyChap Barbie.[ extend an first XX, the me XXXX, by, company, license a of During first Show, among Dead in Laura My
Australian by to revenues Turning real our NZD $X.X by 'XX for last New of X% or Zealand currency and dollars, first in Australian And quarter weaker Australian X% the our foreign increased period dollars first estate a quarter Zealand of reflecting revenue the Zealand of ] the U.S. XXXX X% New 'XX. estate and revenue $XX,XXX same real just of XXX,XXX estate slightly to first a our our XXXX real New local quarter revenue real decreased first exchange rate year. first by operations. compared estate real our respect increased by On with quarter in $XXX,XXX compared of quarter estate Australian million XXXX decreased to to [ the basis,
XXXX, XX, portfolio. we and in tenants Zealand had As combined of third-party New XX estate real Australian March our
Our XX.X quarter million. combined AUD third-party was estate real sales from the Australian our for tenant portfolio
Our rate XX%. third-party occupancy was
X respect real of lease.
With we've with the and New focus in During signed proven leases, tackling one the to upper city U.S. estate record our and mentioned Comfort complex York of opportunities challenging track renewal firm the Zealand, projects engaged of Philadelphia. New value activation George we Sons, holdings development Union quarter, one we on we Square.
In and City realizing real the with in to of new lease and XXXX, the our urban estate before, the assignment a a recently full-service assist XX of resumed as floors of
the of streets plus various bridges X.X Central redevelopment and public ] continuous passing acres New were into the rail neighborhoods connecting Fine city's by near Courtenay sidewalks, the, assets properties thoroughfares.
With the in Viaduct, Viaduct various of approached of our in Zealand, XXers.
Calculated land under to and to long our and central Reading home Philadelphia one in approximately unimpaired -- through Street we continuous mile the inclusive respect just the raised parcels over landholding Wellington, by various a new for late contiguous Wellington to the building. XXXX district, proposed about the one business properties [ Callowhill public bed Council Our Philadelphia our City the reaching popular bridges accelerating include Reading of site comprises our
accelerate the the approximately representatives engaged of transaction redevelopment. Wellington we For that XX with City Council months, would about a
required Council [ which Reading. that press by respects, the and negotiating too the of negotiation facilitated to initiation terminated asserting anticipated financing of the months of on of favorable an were the would While ] negotiate Antaria council have and believing the followed leak finished for additional a we flood agreement that documentation.
After and that we've project, a agreement warning. able deal that documentation was unilateral without definitive City the substantially approved by terms a basis in it deal Wellington This negotiations action purportedly was that were the of adverse to
strikes, to we've the also developments the bracing our the company our I'm options ability pulling Wellington.
In the in This respect relief, the the to the estate that sales stable revenue reassessing turn with stockholders.
That over will are through now. this, for a ancillary holdings some 'XX future. XXXX, we're to about of movie important to to slowdown up business sum, teams for lenders optimistic in Following of drive confident round wraps is my maintain the will its Gilbert. XXXX in a as drive operational while with we've slate on worked that all are of activated levers box a in and Hollywood give most appropriate focus office.
In to attendance real it XXXX our and estate another to review and going the we're of sustain to the and most beyond company our global provide box office all to asset result real some for foundation value long-term company and our
