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
2nd January 2025.
Financial
Highlights
· Group revenue of
approximately £107.2m (2023: £90.9m), up 17.9% year on year.
· Group
EBITDA1 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).
· 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
price3 of £11.98, a 2.8%
increase versus the prior year (2023: £11.65).
· Food and beverage
spend3 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."
1Adjusted for pre-opening
costs, acquisition expenses, exceptional costs, depreciation,
amortization and share based payments.
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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:
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Everyman Media Group plc
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Tel: 020 3145
0500
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Alex Scrimgeour, Chief
Executive
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Will Worsdell, Finance
Director
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Canaccord Genuity Limited (NOMAD and
Broker)
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Tel: 020 7523
8000
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Bobbie Hilliam
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Harry Pardoe
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Alma Strategic Communications (Financial PR
Advisor)
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Tel: 020 3405 0205
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Rebecca Sanders-Hewett
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Joe Pederzolli
Emma Thompson
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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/
