Business
Final Results to 30 December 2021
Final Results to 30 December 2021.
About this update from Everyman Media Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9995F\n Everyman Media Group PLC\n 25 March 2022\n \n \n \n \n 25 March 2022\n \n \n Everyman Media Group PLC\n \n \n (\"Everyman\" the \"Company\" or the \"Group\")\n \n \n Final Results to 30 December 2021\n \n \n Everyman Media Group plc (AIM: EMAN) today announces its audited final results for the year ended 30 December 2021. The year included normal trading with full capacity for 24 weeks, nine weeks of reduced capacity due to COVID-19 restrictions, and 19 weeks full closure.\n \n \n Highlights\n \n \n Promising recovery with positive adjusted operating profit re-established\n \n \n · \n Admissions increased 67% to 2.0m (2020: 1.2m)\n \n \n · \n Group sales of £49.0m (2020: £24.2m), an increase of 102% year on year with 24 weeks normal trading, nine weeks of reduced capacity, and 19 weeks full closure, compared with 10 weeks of normal trading conditions, 17 weeks of disrupted trading due to COVID-19 restrictions and 25 weeks of full closure in 2020. \n \n \n · \n Average Ticket Price1 was £11.44 (2020: £11.81) and Spend Per Head1 of £8.96 (2020: £7.08)\n \n \n · \n Increased market share of 4.5% (2020: 4.46%)\n \n \n · \n A return to an adjusted profit from operations2 of £8.3m (2020: £0.3m loss)\n \n \n · \n Operating loss reduced by 88% to £2.2m (2020: £18.8m)\n \n \n Admissions momentum continues\n \n \n · \n Admissions are returning to pre-Covid levels, with H2 admissions 97% of H2 2019 on a non-like-for-like basis.\n \n \n · \n Admissions between re-opening on 17 May and the period end were ahead of management expectations, at 87% of 2019 levels. \n \n \n New site roll out recommenced\n \n \n · \n Current estate of \n 36 venues, with one new venue at Borough Yards opened in December 2021. The total number of screens now operated by the Group is 119 (2020: 117). \n \n \n · \n Committed pipeline for 2022 of 4 new venues, Edinburgh, Plymouth, Marlow, and Egham.\n \n \n Significant liquidity headroom and positive adjusted operating profit\n \n \n · \n Since re-opening on 17 May 2021, the Group has been adjusted operating profit positive and operating cash generative each month.\n \n \n · \n At the year end, the Group had cash of £4.2m (2020: £0.3m) and net debt of £8.4m (2020: £8.7m). Liquidity headroom is £24.6m, demonstrating continued careful cash management.\n \n \n Outlook\n \n \n ...