Trading Update

RNS Number : 8089Z

Everyman Media Group PLC

15 January 2020

 

15 January 2020

Everyman Media Group PLC

("Everyman" the "Company" or the "Group")

Trading Update

The directors of Everyman (AIM: EMAN) are pleased to provide the following pre-audit trading update for the 52-week period ended 2 January 2020*:

·    Record Group sales of £65.0 million (2018: £51.9 million), an increase of 25% year on year;

·    Average Ticket Price increased to £11.37 (2018: £11.26) and Spend Per Head increased to £7.13 (2018: £6.30), driven by service and menu development;

·    Market share risen to 3.1% (2018: 2.5%); and

·    Pre-IFRS 16 EBITDA expected to be approximately £12.0 million, an increase of 30% year on year, exceeding revenue growth as the Group benefits from a larger estate. This equates to a post-IFRS 16 EBITDA of c.£15.7 million.

Everyman now operates 33 venues, with 5 new venues opened in the final quarter of the financial year (Cardiff, Clitheroe, London Broadgate, Manchester and Wokingham). The total number of screens now operated by the Group is 110 (2018: 84). Together with Horsham and Newcastle which were opened in the first half of the year, this brings the total number of venues opened in 2019 to seven, a record number of openings for the Group in a single year.

The Group also continues to source exciting opportunities for future investment. Since the interim results were published on 24 September 2019, lease agreements have been signed for 3 more new venues (Aberdeen, Exeter and London Kings Road). Including these the Company has commitments in place to open a further 12 venues by 2022, with 4 openings confirmed for 2020, consisting of Dublin, Lincoln, London Kings Road, and Plymouth.

Crispin Lilly, Chief Executive of Everyman said: "This is a solid result for the year. After record admissions in 2018, UK box-office fell by 1.9% in 2019; despite this we grew each of our key performance metrics and also increased our overall market share of the UK box-office. We remain positive on the outlook for the cinema industry, the Everyman brand and for the Company in 2020. Our teams continue to deliver great results across all areas of the business and we are well placed to deliver to expectations in 2020."

*2018 comparatives are a 53 week period

For further information, please contact: Everyman Media Group PLC Crispin Lilly Tel: [phone] Elizabeth Lake Canaccord Genuity Limited - Nominated Adviser and Broker Tel: [phone] Bobbie Hilliam Richard Andrews Georgina McCooke Alma PR (Financial PR Advisor) Tel: [phone] Rebecca Sanders-Hewett Susie Hudson Jessica Joynson

 

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