EVERYMAN MEDIA GROUP (EMAN) H1 2025 earnings summary

Executive summary

• Admissions rose 15% year-over-year to 2.2 million, with revenue up 21% to £56.5m and adjusted EBITDA up 33% to £8.2m for H1 2025.

• Market share increased to 5.8%, and membership grew 46% to nearly 67,000, driving higher visit frequency and spend per head.

• Opened new venues in Brentford and Bayswater, expanding to 49 cinemas and 171 screens.

• Launched an in-house Guest Services Centre, reducing customer contact by 36% and improving operational efficiency.

• Strengthened senior leadership with new Operations and Technology Directors, focusing on digital transformation and customer experience.

Financial highlights

• Revenue increased to £56.5m (H1 2024: £46.9m), driven by higher admissions and spend per head.

• Adjusted EBITDA rose to £8.2m (H1 2024: £6.2m), with margin improving to 14.5%.

• Gross profit margin slightly declined to 65.7% due to higher film hire costs.

• Net loss for the period was £3.0m, improved from £3.9m loss in H1 2024.

• Net debt reduced to £24.2m (H1 2024: £25.8m), with further reductions expected.

Outlook and guidance

• Trading in line with market expectations for the full year, with 2025 revenue forecast at £121.6m and adjusted EBITDA at £20.0m.

• Strong H2 film slate expected to drive further growth, including major releases like Downton Abbey, Wicked, and Avatar.

• Two new venues planned for 2026 and two more for 2027, with no further openings in 2025.