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Owners
Federal Cinema Network with 24 cinemas (110 halls). In addition to the Criminal Code, the Karo-Film network includes:
- film rental company "Karo-rental,"
- exclusive distributor of Warner Bros. and New Line Cinema films "Caro Premier" and
- advertising agency "Kino Media."
Performance indicators
2024: Revenue growth by 24.4% to RUB 4 billion
At the end of 2024, the Karo cinema chain (Karo Film Management LLC) received revenue of 4 billion rubles. This is 24.4% more than in the previous year, when the figure was 3.21 billion rubles. Such data are provided in the accounting documentation, which TAdviser got acquainted with at the end of July 2025.
The cost of sales on an annualized basis rose by 7.2% - from 2.8 billion rubles to 3 billion rubles. Commercial expenses increased from 22.13 million rubles to 26.14 million rubles, that is, by 18.1%. Management expenses increased by 20.5% - from 565.49 million rubles to 681.67 million rubles. Under the article "other income," a fall of 84.9% was recorded with a result of 107.06 million rubles against 707.87 million rubles in 2023. Other expenses showed an increase of 2% - from 309.95 million rubles to 316.13 million rubles.
Revenues from the sale of products, goods, works and services for the year jumped by more than a third - from 2.75 billion rubles to 3.72 billion rubles. Payments to suppliers (contractors) for raw materials, materials, works and services increased from 1.78 billion rubles in 2023 to 2.21 billion rubles in 2024 (plus 24.3%). Expenses related to the remuneration of employees increased by 35.5%, reaching 934.51 million rubles (689.92 million rubles a year earlier).
Gross profit of Karo soared by 141.3% - from 411.2 million rubles to 992.22 million rubles. In 2024, the cinema chain showed a profit from sales in the amount of 284.41 million rubles, while in 2023, losses from sales were registered at 176.42 million rubles. At the same time, net losses on an annualized basis increased from 166.77 million rubles to 179.2 million rubles.
Accounts receivable as of December 31, 2024 amounted to 207.45 million rubles, which is a quarter more compared to 2023 (164.73 million rubles). Accounts payable rose by 18.1% - from 701.22 million rubles to 828.32 million rubles.[1]
2022: 41.8% decrease in revenue
The revenue of the KARO network decreased in 2022 by 41.8% - to 2.2 billion rubles, and the net loss amounted to 1.3 billion rubles against 9.4 million rubles a year earlier. Read more here.
History
2021: VTB receives 100% of the company as a loan pledge
In November 2021, it became known that VTB could pick up the second largest Karo cinema network in Russia from the UFG and Paul Het Foundation for debts. In August, the bank received 100% of the company on loan.
Cinemas are losing customers. In 2020, fees throughout the country fell by 59%, to 22.8 billion rubles. Revenue "Karo Film Management" decreased by 59%, to 2.16 billion rubles, the company received a loss of 402 million rubles.
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