Financial Highlights · Group revenue of £79.7m, an increase of 62.5% versus the prior year (202123 Jan 2023 07:26
Financial Highlights
· Group revenue of £79.7m, an increase of 62.5% versus the prior year (2021: £49.0m).
· Group EBITDA1 ahead of market expectations at approximately £14.5m, an increase of 74.7% vs. the prior year (2021: £8.3m).
· Market share maintained at 4.5% (2021: 4.5%).
Operational Highlights
· Two new venues were opened in the year, Edinburgh and Egham. The Group now operates 38 venues with a total of 130 screens (2021: 36 venues with a total of 119 screens).
· Paid for average ticket price2 of £11.29, a 2.6% increase versus the prior year (2021: £11.00).
· Food and beverage spend3 per head of £9.34, a 3.0% increase versus the prior year (2021: £9.07).
Current Trading and Outlook
· Performance in the new financial year has been encouraging.
· Covid-related delays in film production resulted in a reduced slate of film content during 2022. Despite this, the Company was able to exceed trading expectations due to the unique Everyman experience which continues to attract existing and new customers. The Directors expect both the volume and quality of new releases to significantly increase in 2023.
· Due to the above, whilst the Directors are cognisant of the difficult macro-economic environment and consumer backdrop, they continue to have significant confidence in the future.
· The Group remains committed to organic expansion with excellent opportunities available for new sites. The Directors however are taking a more measured approach to new site opening. The Group is opening a new venue in Durham in February 2023, with four further venues expected to open during the year in Salisbury, Northallerton, Plymouth and Marlow.