Everyman passes screen test as trade driven by strong admissions

Everyman Media Group, which has cinemas in Leeds and Harrogate, has reported strong trading since its venues reopened after the lockdowns.

The firm reported group revenue of £49m in 2021, an increase of 101 per cent year-on-year with 33 weeks trading, driven by strong admissions since re-opening.

Alex Scrimgeour, chief executive of Everyman Media Group, said: “Robust admissions seen across our estate in the second half of the year proves that demand for entertainment at Everyman remains strong.

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"I would like to say a special thank you to our incredible team for making it happen in such exceptionally difficult circumstances.

Everyman now operates 36 venuesEveryman now operates 36 venues
Everyman now operates 36 venues

"We are increasingly optimistic about 2022 performance and excited by our new opening pipeline. We are looking forward to a stimulating and diverse slate of films which will entertain our Everyman community.”

The 2021 trading performance, which saw cinemas opening for 33 of the 52 weeks, was a vast improvement on 2020 which saw 10 weeks of normal trading, 17 weeks of disrupted trading and 25 weeks of full closure due to Covid-19 restrictions.

2021 revenue was 75 per cent of the 2019 total (£65m) despite being closed for 19 weeks.

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Everyman said that this was particularly pleasing given that 2019 was a record year for the group.

Due to a better than expected performance in December, earnings are expected to be ahead of current market forecast at approximately £8.3m, which compares with a £1.1m loss in 2020.

Everyman now operates 36 venues, with one new venue opening at Borough Yards in December 2021. The total number of screens now operated by the group is 119.

Since reopening on May 17, 2021, the group has been earnings positive and operating cash generative every month.

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Everyman said that the outlook for the business is positive, reinforced by healthy admissions since reopening.

The group’s roll-out programme is set to recommence in earnest with a committed pipeline of five new venues for the current financial year in Edinburgh, Plymouth, Durham, Marlow and Egham.