What trends are seen in RDIB's yearly earnings?

Reading International (RDIB) has shown volatile yearly earnings over the past decade, with significant fluctuations due to various factors such as market conditions, business strategy, and external events:

1. **Improvement in Q4 2024 Performance**:
- RDIB's Q4 2024 results showed notable improvements, with total revenues increasing by 29.3% to $58.6 million compared to the previous year's $44.2 million.
- The net loss reduced significantly to $2.2 million from $12.4 million in Q4 2023, indicating a shift from a substantial loss to a more manageable figure.
2. **Challenging Full-Year Performance**:
- Despite the positive Q4 performance, the full-year 2024 results were impacted by Hollywood strikes and movie release delays, leading to a 5.5% decrease in total revenues to $210.5 million compared to $222.7 million in 2023.
- The net loss increased by 15.1% to $35.3 million from $30.7 million in 2023, reflecting ongoing challenges in the cinema segment revenue and increased interest expenses.
3. **Strategic Asset Sales and Liquidity Focus**:
- RDIB has been actively managing its liquidity by executing strategic asset sales, including properties in Wellington, New Zealand, and Culver City, generating a total of NZ$48 million from these sales.
- The company continues to focus on debt reduction and has worked with lenders to extend maturity dates and adjust covenants, indicating a commitment to financial stability.
4. **Historical Performance Trends**:
- RDIB's net profit margin has been negative in several years, including 2020, 2021, and 2022, with the lowest point being -83.33% in 2020.
- The company has experienced a significant improvement in net profit margin from -81.63% in 2021 to 23.02% in 2022, although it dropped to -17.73% in 2022, it recovered to -13.45% in 2023.
5. **Stability in Real Estate Operations**:
- The real estate division has remained resilient, maintaining a 96% occupancy rate in Australia and New Zealand properties.
- This stability in real estate operations provides a contrast to the more volatile cinema segment and contributes to the company's overall performance.

In conclusion, while RDIB has shown signs of improvement in specific quarters and segments, the full-year performance continues to be impacted by external factors such as Hollywood strikes and market conditions. The company's strategic asset sales and focus on liquidity management are positive indicators, but the overall financial performance remains challenging. The resilience of the real estate operations provides a degree of stability to the company's earnings.