Germany's multiplex market leader CinemaxX posted a net loss of Euros 29.6m for the 2001 financial year, due to depreciation of Euros 17.6m and an adjustment for discounted loans to Ufa-Theater of Euros 3.5m.

The company's financial report noted that this was despite the fact that the number of cinema-goers to CinemaxX's screens increased year-on-year from 2000's 18.6 million to 22.6 million in 2001 and sales climbed to Euros 191.8m from Euros 161.1m.

In a statement CinemaxX said 'should all measures be effective and providing that movie-goer figures continue in line with expectations, the Board of Management expects a positive EBITDA in double-digit millions for the financial year'.

Up to the end of June this year, CinemaxX has seen an increase of 7.5% in admissions over 2001.