REG - Everyman Media Grp - Trading Update and Notice of Results

Everyman MediaAnnouncement

18/08/2023 07:00

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RNS Number : 7056J  Everyman Media Group PLC  18 August 2023

18 August 2023

 

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 29 June 2023.

Trading continues to be in line with expectations and the Board remains
confident that the financial performance of the Company for the full year
ending 28 December 2023 will be in line with market expectations(1). Everyman
continues to grow both operationally and financially and remains an affordable
and popular choice for consumers.

Key highlights

·         Group Revenue of £38.3m (2022: £40.7m) against a strong
H1 2022 comparator. The majority of key 2023 releases fall in H2 2023, leading
to a second half weighting to annual financial performance.

·         Group EBITDA of £5.8m (2022: £7.5m), with the prior
period benefitting from the reduced rate of VAT in the first quarter of last
year worth £0.9m in EBITDA, and popular film releases.

·         Three new venues opened at the end of H1, taking the Group
estate to a total of 41 venues.

Post period and outlook

·         Barbie and Oppenheimer released in the final week of July,
delivered record admissions and enabled the Group to achieve an exceptional
month of trading:

 

o  Group Revenue of £10.6m (July 2022: £7.1m)

o  Group EBITDA of £2.6m (July 2022: £1.3m)

 

Looking forward, the H2 dominant film slate for 2023 has already seen the
early success of Barbie and Oppenheimer at the Box Office, with the positive
impact of both titles continuing into August. There is a strong pipeline of
further titles set to be released including Dune: Part Two, Wonka, The Hunger
Games: The Ballad of Songbirds & Snakes, Napoleon, and Killers of the
Flower Moon.

The Group now operates 41 cinemas, having opened three new, promising venues
in the period: a four-screen venue in Northallerton in May 2023, a
three-screen venue in Plymouth and a four-screen venue in Salisbury in June
2023. The Group expects to open a new two-screen venue in Marlow in October
2023 and the pipeline for 2024 remains well-developed.

The Group intends to publish its interim results for the 26 weeks ended 29
June 2023 on Wednesday 27(th) September 2023.

Alex Scrimgeour, Chief Executive Officer of Everyman Media Group Plc, said:

"Everyman remains an affordable and popular choice for consumers. The record
week of admissions we saw in July demonstrates both the value of original
content, and the fact that cinema remains as relevant as ever. Alongside this,
we continue to see increasing demand for our high-quality food and beverage
offering. The all-encompassing Everyman experience leaves us very well placed
to satisfy consumer demand for premium entertainment.

None of what we do would be possible without the incredible Everyman team both
in our venues and head office. I would like to take this opportunity to thank
them all for their hard work and willingness to go that extra mile for our
customers. We have added three carefully selected new venues to our estate and
we look forward to building on the significant momentum we have seen in July
and August."

(1) Current market forecasts for the year ended 28 December 2023 are revenue
of £94.4m and Adjusted EBITDA of £17.2m.

 

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

David Ison
 Joe Pederzolli

 

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