EVERYMAN MEDIA GROUP (EMAN) Trading Update summary

Financial performance highlights

• Admissions rose to 1.9 million from 1.6 million year-on-year, with group revenue up to £46.9m from £38.3m.

• Group EBITDA increased to £6.2m from £5.8m, with average ticket price at £11.76 and food and beverage spend per head at £10.47.

• Performance was in line with expectations, despite reduced film output due to prior WGA strikes.

• Significant H2 weighting expected, driven by major film releases in the second half of the year.

• Current market forecasts for the year ending January 2025 are revenue of £108.0m and adjusted EBITDA in line with expectations.

Operational developments

• Everyman now operates 45 cinemas, with new venues opened and further openings planned in Cambridge and St Ives by year-end.

• Focus remains on premium cinema experience, with in-house food and drink and curated programming.

• The group continues to expand its estate, reinforcing its position as the fourth largest cinema operator in the UK.

Outlook and strategic positioning

• Board remains confident in meeting full-year market expectations.

• Anticipates strong H2 performance due to a robust slate of film releases.

• Emphasis on unique venue experience and hospitality as key competitive strengths.

• Interim results for the 26 weeks ended 27 June 2024 will be published on 11 September 2024.