Everyman Media Group, a U.K. cinema operator, has reported record admissions in July thanks to the release of popular films such as Barbie and Oppenheimer. The company expects to meet market expectations for the full year.
In July, revenue reached £10.6 million, a significant increase from £7.1 million in the same month last year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) also doubled to £2.6 million.
For the half-year period ending June 29, group revenue was £38.3 million compared to £40.7 million in the same period last year. The company anticipates a more second-half weighted performance due to upcoming film releases, including Dune, Part 2, and Wonka.
Group EBITDA for the half-year amounted to £5.8 million, lower than the previous year's £7.5 million. This decrease was primarily due to the reduced rate of value-added tax in the first quarter of last year and the popularity of certain film releases.
Everyman Media Group has provided current revenue and adjusted EBITDA market forecasts for the year ending December 28, estimating £94.4 million and £17.2 million, respectively. These projections exceed the 2022 figures of £78.8 million in revenue and £14.5 million in adjusted EBITDA.