Trading Update and Notice of Results
Source: RNS
25 July 2024
Everyman Media Group PLC
("Everyman" the "Company" or the "Group")
Trading Update and Notice of Results
Everyman Media Group PLC (AIM: EMAN) provides the following trading update for the 26 weeks ending 27 June 2024.
· Admissions of 1.9m (2023: 1.6m)
· Group Revenue of £46.9m (2023: £38.3m)
· Group EBITDA of £6.2m (2023: £5.8m)
· Paid-for Average Ticket Price of £11.76 (2023: £11.49)
· Food and Beverage Spend per Head of £10.47 (2023: £10.25)
Financial performance for the half year was in line with expectations and reflected the impact of last year's SAG-AFTRA and WGA strikes. The Group expects a significant H2 weighting to admissions, revenue and EBITDA based on the strong pipeline of releases for the remainder of the year, including Joker: Folie à Deux, Paddington in Peru, Gladiator II, Wicked, Moana 2 and Mufasa: The Lion King.
Everyman now operates 45 cinemas, having opened a three-screen venue in Bury St Edmunds in February 2024. The Group expects to open a five-screen venue in Cambridge in November 2024 and a three-screen venue in Stratford (London) in December 2024.
The Board remains confident that the financial performance of the Company for the full year ending 2nd January 2025 will be in line with market expectations1.
The Group intends to publish its interim results for the 26 weeks ended 27 June 2024 on Wednesday 25th September 2024.
Alex Scrimgeour, Chief Executive Officer of Everyman Media Group Plc, said:
"We have once again delivered robust growth in both revenue and EBITDA during the first half, reinforcing our position as a leading player across the UK's cinema landscape. Our continued strong performance, driven by consumer appetite for the unique Everyman proposition, comes despite a marked reduction in film output following last year's writer and actor strikes.
During the second half, we have an exciting slate of releases to look forward to and are confident in our ability to capitalise on the opportunity ahead."
1 Current market forecasts for the year ended 2 January 2025 are revenue of £108.0m and Adjusted EBITDA of £19.3m.
For further information, please contact:
|
Everyman Media Group PLC |
Tel: +44 (0)20 3145 0500 |
|
Alex Scrimgeour, Chief Executive |
|
|
Will Worsdell, Finance Director |
|
|
Canaccord Genuity Limited - (Nominated Adviser and Broker) |
Tel: +44 (0)20 7523 8000 |
|
Bobbie Hilliam |
|
|
Harry Pardoe |
|
|
Alma (Financial PR Advisor) |
Tel: +44 (0)20 3405 0205 |
|
Rebecca Sanders-Hewett |
|
|
Joe Pederzolli |
|
|
|
|
About Everyman Media Group PLC:
Everyman is the fourth largest cinema business in the UK by number of venues, and is a premium, high growth leisure brand. Everyman operates a growing estate of venues across the UK, with an emphasis on providing first class cinema and hospitality.
Everyman is redefining cinema. It focuses on venue and experience as key competitive strengths, with a unique proposition:
· Intimate and atmospheric venues, which become a destination in their own right
· An emphasis on a strong quality food and drink menu prepared in-house
· A broad range of well-curated programming content, from mainstream and independent films to theatre and live concert streams, appealing to a diverse range of audiences
· Motivated and welcoming teams
For more information visit http://investors.everymancinema.com/
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
