EVERYMAN MEDIA GROUP (EMAN) H2 2025 earnings summary

Executive summary

• Revenue grew 12.4% year-over-year to £116.6m, with adjusted EBITDA up 10.6% to £17.0m, despite industry softness in Q4 2025 and a statutory loss after tax of £10.3m due to higher interest and impairment charges.

• Market share increased to 5.8% (from 5.4%), admissions rose 6.1% to 4.4m, and membership grew 18.5% to 66,910, reflecting strong brand engagement and operational execution.

• Two new venues opened in 2025; no new openings planned for 2026 as focus shifts to consolidation, cost control, and optimising the existing estate.

• Leadership changes included a new CEO and CFO, with a strengthened management team to drive the next phase of growth.

Financial highlights

• Adjusted revenue: £116.6m (up 12.4% vs. 2024 adjusted £103.7m); statutory revenue: £116.6m (up 8.8% vs. £107.2m).

• Adjusted EBITDA post-IFRS 16: £17.0m (up 10.6% vs. £15.4m); adjusted operating profit: £2.1m (vs. £0.5m).

• Statutory operating loss: £2.9m (vs. £3.4m loss); statutory loss after tax: £10.3m (vs. £8.5m loss).

• Net banking debt: £21.6m (vs. £18.1m); cash and cash equivalents: £8.4m (vs. £9.9m).

• Gross profit margin improved to 65.9% (from 64.6%).

• Basic loss per share: 11.35p (vs. 9.36p).

Outlook and guidance

• 2026 will focus on consolidation, operational discipline, and optimising the current estate, with measured expansion planned from 2027.

• Trading in early 2026 is encouraging, supported by a strong film slate and positive momentum.

• Management expects admissions to recover toward pre-pandemic levels as the film slate strengthens.