Last checked at 27 Jul 2022 07:00
27 July 2022
Everyman Media Group PLC
("Everyman" the "Company" or the "Group")
Trading Update
Everyman Media Group plc (AIM: EMAN) provides the following trading update for the 26 weeks ending 30 June 2022.
• Group revenue of £40.7m, an increase of £11.8m vs. the same period in 2019.
• Group EBITDA1 of £7.5m, an increase of £0.9m vs. the same period in 2019.
The Group's performance was particularly reassuring given that 2019 was a record year. Growth was driven by a combination of an increased number of venues, strong admissions and higher average spends as well as benefitting from reduced VAT in the first quarter. The Board is confident the financial performance of the Company for the full year ending 31 December 2022 will be in line with market expectations.
The Group ended the period operating 37 cinemas (H1 2019: 28 cinemas), having opened a five-screen venue in Edinburgh.
The Board is also pleased to announce the pipeline for H2 2022 and 2023 is well progressed with a minimum of six further venues contracted to open.
The Group intends to publish its interim results for the 26 weeks ended 30 June 2022 on 28 September 2022.
Alex Scrimgeour, Chief Executive Officer of Everyman Media Group PLC, said:
"It has been a busy six months for the Group, as our exceptional venue teams entertained guests across the country. Despite well publicised headwinds we have managed to deliver record half year sales and EBITDA. We remain confident that people's enjoyment of cinema and specifically Everyman remains undiminished".
(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.
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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/