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

Everyman MediaAnnouncement

25/07/2024 07:00

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RNS Number : 7402X  Everyman Media Group PLC  25 July 2024

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
expectations(1).

 

The Group intends to publish its interim results for the 26 weeks ended 27
June 2024 on Wednesday 25(th) 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

David Ison
 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/
(http://investors.everymancinema.com/)

 

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