Gladiator II and Wicked set to drive winter boost for Everyman Cinemas
Luxe cinema group Everyman Cinemas has reported a jump in revenue and earnings as it eyes a slate of big-ticket blockbusters over the next few months.
The company reported revenue of £46.9m in its interim results, up from £38.3m in the same period last year, as the number of Brits heading to its cinema sofas climbed from 1.6m to 1.9m.
It said adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose to £6.2m from £5.8m in 2023.
Although the writers and actors strike impacted production last year, Everyman has generally defied the gloom.
It has seen “significant growth” in market share to 5.6 per cent in the first half of 2024, up from 4.2 per cent in 2023.
Everyman chief executive Alex Scrimgeour said: “Despite weathering the full impact of last year’s actor and writer strikes, we are pleased to report another period of financial and operational progress.
“We achieved strong growth in revenue, increased EBIDTA and record market share, driven by rising demand for Everyman’s unique brand of hospitality.
He added: “We move into the second half with confidence, and look forward to an exciting slate of high profile releases to come through the remainder of the year.”
The silver screen appears to be set for a few months of big-ticket movies, including Joker: Folie à Deux, Gladiator II, Paddington in Peru, Wicked, Moana 2 and Mufasa: The Lion King.
Current market forecasts for the full year 2025 are revenue of £108m and adjusted EBITDA of £19.3m.
It comes as Everyman is still expanding across the UK, with a five screen venue in Cambridge due to open in November and a three screen venue in Stratford (London) set to open in December.