Everyman Media Group PLC – Interim Results

Everyman Media Group PLC – Interim Results

Everyman Media Group PLC, the independent, premium cinema group is pleased to report its unaudited interim results for the 26 weeks ended 4 July 2019.

 

Financial Highlights:

·    Revenue for the six months up 16% to £28.9m (H1 2018: £24.9m)

·    Adjusted EBITDA1 increased 61% to £6.6m (H1 2018: £4.1m)

·    Operating profit increased 14% to £1.6 million (H1 2018: £1.4m)

 

Operational Highlights:

·    Admissions up 9.4% to 1.5m (H1 2018: 1.3m)

·    Continued growth in average food and beverage (‘F&B’) spend up 13.2% to £6.95 (H1 2018: £6.14)

·    Reached record market share of 3.0%

·    Two new venues added (Horsham and Newcastle), expanding the current estate to 28 venues and 92 screens

·    Full refurbishment of Walton-On-Thames and addition of a third screen at Gerrards Cross with new kitchen

·    Committed to a further 15 new venues of which four are expected to open in H2 2019

·    Trading since the period end has continued in line with the Board’s expectations

 

1Adjusted for pre-opening costs, acquisition expenses, depreciation, amortisation and share based payments. IFRS 16 has been applied. Pre IFRS 16 EBITDA would have been £4.9 million, an increase of 20%

 

Crispin Lilly, Chief Executive Officer of Everyman Media Group PLC said:

“The appetite for Everyman has never been stronger with our continued roll-out allowing us to deliver exceptional experiences to more audiences across the UK with our increasing footprint. As a result, we have seen progress across both our financial and operational KPIs, with growth in revenue and operating profit driven by increasing admissions and F&B spend. This has resulted in the record market share we are reporting today.”

“Our ambitious roll out continues both in the UK and with our first international site, which is due to open in Ireland next year. We are confident that there is significant room for expansion. We look forward to delivering our proven model to additional communities in both countries in the current period and beyond.”

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