REG - Everyman Media Grp - Trading Update

Everyman MediaAnnouncement

17/01/2025 07:00

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RNS Number : 6819T  Everyman Media Group PLC  17 January 2025

17 January 2025

Everyman Media Group PLC

("Everyman" or the "Group")

 

Trading Update

Everyman Media Group Plc (AIM: EMAN) announces the following unaudited trading
update for the 53-week period ended 2(nd) January 2025.

Financial Highlights

·       Group revenue of approximately £107.2m (2023: £90.9m), up
17.9% year on year.

·       Group EBITDA(1) of approximately £16.1m (2023: £16.2m).

·       Market share increased to 5.4% (2022: 4.8%).

·       Reduction in net debt to £18.2m (2023: £19.4m).

 

Operational Highlights

·      Three new venues were opened during the period: a three-screen
venue in Bury St Edmunds in February, a five-screen venue in Cambridge in
November and a three-screen venue in Stratford (London) in December.

·      The Group now operates 47 venues with a total of 163 screens
(2023: 44 venues with a total of 152 screens).

·      Paid for average ticket price(3) of £11.98, a 2.8% increase
versus the prior year (2023: £11.65).

·      Food and beverage spend(3) per head of £10.64, a 3.4% increase
versus the prior year (2022: £10.29).

·      Record growth in membership to over 56,000, a 65% increase (2023:
34,000).

Current Trading and Outlook

·    Box office performance in the fourth quarter was not as strong as
anticipated, the most notable underperformer being Joker; Folie à Deux. This
was followed by congestion in the calendar on remaining blockbuster releases,
with five in five weeks, leading to titles competing against each other
negatively impacting the period.

·    Guest spend per head, whilst still in growth for the full year,
softened during November and December due to the higher than expected
proportion of family content.

·    As a consequence of increased uncertainty arising from the Autumn
statement, the Board is more cautious around the outlook for 2025 and 2026.

·    The Group remains committed to measured organic expansion with
excellent opportunities available for new sites. Two new openings are
confirmed for 2025 - a three-screen venue at Brentford Lock in Q2 and a
five-screen venue at The Whiteley (Bayswater) in Q3. The Group expects to open
a further three new venues in 2026.

·    The Group's focus continues to be on controlling net debt and
materially reducing leverage over the next two years.

·    With no further impact from the WGA and SAG-AFTRA strikes, the Group
has confidence in the film slate for 2025. Distribution across the year is
also significantly improved, which will be particularly beneficial in the
first half of the year. Key titles for the year include Bridget Jones: Mad
About the Boy, F1, Mission: Impossible - The Final Reckoning, Michael, Wicked:
For Good and Avatar: Fire and Ash.

 

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

 

"Despite the last year's film slate being heavily impacted by the actor and
writer's strikes as well as the Q4 box office underperformance of certain
movies, we have made positive operational and strategic progress, resulting in
record levels of membership and growth in market share.

We are focused on continuing to control debt and reduce leverage, and,
notwithstanding the wider trading environment, we will continue to deliver
Everyman's unique brand of hospitality to our growing customer base, with two
exciting openings confirmed in 2025. We remain confident in delivering further
growth, bolstered by our market leading position and continued demand for
Everyman's elevated cinema experience."

(1)Adjusted for pre-opening costs, acquisition expenses, exceptional costs,
depreciation, amortization and share based payments.

 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").

 For further information, please contact:

 Everyman Media Group plc                              Tel: 020 3145 0500
 Alex Scrimgeour, Chief Executive
 Will Worsdell, Finance Director

 Canaccord Genuity Limited (NOMAD and Broker)          Tel: 020 7523 8000
 Bobbie Hilliam
 Harry Pardoe

 Alma Strategic Communications (Financial PR Advisor)  Tel: 020 3405 0205
 Rebecca Sanders-Hewett
 Joe Pederzolli

 Emma Thompson

 

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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