International edition
October 17, 2021

Mexico

The health alert on A-flu caused a decrease in CIE incomes

(Mexico).- The health alert on A H1N1 flu had influence on CIE operations, causing the company that operates Yak and Las Américas horse racetrack to generate less incomes. Its sales were of us$ 10,044,634, a 7% less than in 2008.

C

orporación Interamericana de Entretenimiento informed in the Mexican Market Share that the state of health alert determined by the authorities meant the parcial or total suspension of activities, affecting the utilities of the company.

This way, its incomes fell a 7% to us$ 10,044,634, compared to the us$ 21,826,311 obtained the previous year; besides, it had a net loss of us$ 19,334,033. The most affected division was the commercial one, which comprises advertising in cinemas, which had a decrease of 22 % in incomes (us$ 33,985,605).

CIE Las Americas, which represents Granja de las Américas, the Horse racetrack and Yak, showed a decrease of the 4%. Its sales were of 835 millones de pesos. Besides, CIE Entretenimiento, grew a 2 %, with incomes of us$ 52.9 million, due to an increment in the ticket sales for the shows, and also because those had to be rescheduled after the A-flu outbreak.

The debts of the company also grew, and they are currently of us$ 551,850,705, an increase of 34 % compared to 2008; of such amount, a 49 % is a short-term debt and 51 % is a long-term debt.

In May, Corporación Interamericana de Desarrollo announced the sale of  the event Chapultepec, Cici and Selva Mágica, a transaction valued in us$ 19,636,127, a resource that will strenghten its finances.

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