REG - Everyman Media Grp - Trading Update

Everyman MediaAnnouncement

21/01/2022 07:05

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RNS Number : 1612Z  Everyman Media Group PLC  21 January 2022

21 January 2022

Everyman Media Group PLC

("Everyman" the "Company" or the "Group")

Trading Update

Everyman Media Group plc (AIM: EMAN) is pleased to provide the following
pre-audit trading update for the 52-week period ended 30 December 2021.

·    Group revenue of £48.7m (2020: £24.2m), an increase of 101%
year-on-year with 33 weeks trading, driven by strong admissions since
re-opening

o  Compares to 2020 which saw 10 weeks of normal trading, 17 weeks of
disrupted trading and 25 weeks of full closure due to COVID-19 restrictions

o  2021 revenue was at 75% of the 2019 FY total (£65.0 m) despite having 19
weeks closed, particularly pleasing given 2019 was a record year for the Group

·    Due to a better than expected performance in December, EBITDA(1) is
expected to be ahead of current market forecast at approximately £8.3m (2020:
£1.1m loss).

Everyman now operates 36 venues, with one new venue at Borough Yards opened in
the period, in December 2021. The total number of screens now operated by the
Group is 119 (2020: 117).

 

Since re-opening on 17 May 2021 the Group has been EBITDA positive and
operating cash generative each month. The outlook for the business is
positive, reinforced by healthy admissions since re-opening  and the Group's
roll-out programme set to recommence in earnest with a committed pipeline of
five new venues for the current financial year: Edinburgh, Plymouth, Durham,
Marlow and Egham.

 

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

"Robust admissions seen across our estate in the second half of the year
proves that demand for entertainment at Everyman remains strong. I would like
to say a special thank you to our incredible team for making it happen in such
exceptionally difficult circumstances. We are increasingly optimistic about
2022 performance and excited by our new opening pipeline. We are looking
forward to a stimulating and diverse slate of films which will entertain our
Everyman community."

 

(1) Adjusted for pre-opening costs, acquisition expenses, depreciation,
amortisation, share based payments and costs incurred directly related to
Covid-19 . IFRS 16 has been applied.

 

 For further information, please contact:

Everyman Media Group PLC
 Alex Scrimgeour                                            Tel: +44 (0)20 3145 0500
 Elizabeth Lake

 Canaccord Genuity Limited (Nominated Adviser and Broker)   Tel: +44 (0)20 7523 8000
 Bobbie Hilliam
 Richard Andrews
 Georgina McCooke

 Alma PR (Financial PR Advisor)                             Tel: 020 3405 0205
 Susie Hudson

 Lily Soares Smith
 Joe Pederzolli

 

The information communicated in this announcement contains inside information
for the purposes of Article 7 of the Market Abuse Regulation (EU) No.
596/2014 as it forms part of United Kingdom domestic law by virtue of the
European Union (Withdrawal) Act 2018 (as amended) ("UK MAR").

 

 

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/

 

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