Everyman has reported a 17.9% increase in group revenue in 2024, while profits remain broadly flat, as the UK boutique cinema chain continues its steady expansion with two more venues confirmed to open in 2025.
Revenue was up to around £107.2m from £90.9m in 2023, according to an unaudited trading update for the period ending January 2, 2025. Revenue in 2022 was £77.9m.
Profits (earnings before interest, taxes, depreciation, and amortization) were slightly down in 2024 on the previous year, at £16.1m, from £16.2m in 2023. Profit was still up on £13.6m of 2022.
At the end of March, the boutique cinema chain will open its 48th venue, a three-screen cinema in Brentford, west London, followed by a five-screen cinema in the third quarter of the year in Bayswater, also in west London. Three more venues are anticipated to open in 2026.
Three venues opened in 2024, with the chain’s market share increasing to 5.4%, from 4.8% in 2023.
The cinema chain focuses on a premium experience for its customers, with sofa-style seating and food and drink that can be ordered at a customer’s seat. The average ticket price for 2024 was £11.98, a 2.8% increase from £11.65 in 2023.
Everyman saw a record growth in membership to more than 56,000, a 65% increase on 2023 (34,000).
However, box office performance in the fourth quarter was not as strong as anticipated. The trading update flagged the most notable underperformer as Joker: Folie à Deux. “This was followed by congestion in the calendar on remaining blockbuster releases, with five in five weeks, leading to titles competing against each other negatively impacting the period,” noted Everyman’s update.
The update also said: ”As a consequence of increased uncertainty arising from the Autumn statement, the Board is more cautious around the outlook for 2025 and 2026.” Everyman declined Screen’s request for further comment on what specifically in the autumn statement had impacted its outlook and how the caution would impact the future business strategy.
“Despite the last year’s film slate being heavily impacted by the actor and writer’s strikes as well as the Q4 box office underperformance of certain movies, we have made positive operational and strategic progress, resulting in record levels of membership and growth in market share,” said Alex Scrimgeour, chief executive officer of Everyman.
“We are focused on continuing to control debt and reduce leverage, and, notwithstanding the wider trading environment, we will continue to deliver Everyman’s unique brand of hospitality to our growing customer base, with two exciting openings confirmed in 2025.
“We remain confident in delivering further growth, bolstered by our market-leading position and continued demand for Everyman’s elevated cinema experience.”
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