Last checked at 14 Jan 2021 07:00
14 January 2021
Everyman Media Group PLC
("Everyman" the "Company" or the "Group")
Trading Update
Everyman Media Group plc (AIM: EMAN) today provides a trading update for the year ended 31 December 2020.
At the time of the interim results announcement on 30 September 2020, all 35 Everyman venues had been open since the end of August and showed real reason for optimism during that period. Since this point restrictions have varied, with certain locations open for different periods. All venues have been closed since 30 December 2020.
Throughout this period we have again concentrated on reducing capital expenditure and operating costs to a minimum. We have continued to work closely with our landlords, successfully achieving further rent concessions.
At the year end, the Group had net debt of £8.5m with the continued support of our providers.
Paul Wise, Executive Chairman of Everyman said:
"Whilst the pandemic continues to severely impact our business and industry, we have a strong balance sheet, an exciting incoming CEO in Alex Scrimgeour, supportive staff, customers and shareholders. We remain optimistic for the coming year post-lockdown and continue to have confidence in people's appetite to socialise and to be entertained; we believe we will be in a strong position once it is safe to welcome back our customers and teams."
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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.
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/