Interim Results

Everyman Media Group PLC

03 September 2026

 

3 September 2026

Everyman Media Group PLC

("Everyman" the "Company" or the "Group")

Interim Results

Everyman Media Group plc (AIM: EMAN) today announces its unaudited interim results for the 26 weeks ended 02 July 2026.

Highlights

		Adjusted1				Statutory1
		H1 2026	H1 2025	Change2		H1 2026	H1 2025	Change2
				%				%
Revenue	£m	69.8	56.5	23.5%		69.8	56.5	23.5%
EBITDA post IFRS-163	£m	10.8	8.2	32.0%		12.6	7.5	68.7%
EBITDA pre IFRS-163	£m	6.6	4.2	57.3%		8.4	3.5	141.0%
Profit/(loss) before tax	£m	0.1	(2.7)	105.1%		1.9	(3.4)	156.3%
Net bank debt	£m	17.4	24.2			17.4	24.2
Admissions	m	2.6	2.2	20.5%		2.6	2.2	20.5%
Spend per head ("SPH")	£	11.41	11.09	3.0%		11.41	11.09	3.0%
Paid for Average ticket price ("ATP")	£	12.97	12.46	4.1%		12.97	12.46	4.1%
Market share	%	6.4%	5.8%	60 bps		6.4%	5.8%	60 bps

Growth across all key metrics and increased market share

·      Admissions of 2.6m, up 20.5% (H1 2025: 2.2m)

·      Group Revenue of £69.8m, up 23.5% (H1 2025: £56.5m)

·      EBITDA (post IFRS-16) of £10.8m, up 32.0% (H1 2025: £8.2m)

·      Statutory Profit before tax £1.9m (H1 2025: £3.4m loss), includes a one-off £2.2m share based payment credit (H1 2025: £0.3m charge).

·      Food and Beverage SPH of £11.41, up 3.0% (H1 2025: £11.09)

·      Paid for ATP of £12.97, up 4.1% (H1 2025: £12.46)

·     Net bank debt of £17.4m (H1 2025: £24.2m), reflects strong operational cash flows and a focus on managing net debt and reducing leverage whilst we prepare to open new venues in 2027. Gross debt has been reduced by £5.0m to £25.0m since the year-end (H1 2025: £29.0m, YE 2025: £30.0m).

¹ A reconciliation between Statutory and Adjusted results is included in the financial review. 

² The YOY change %'s are calculated on unrounded numbers.

³ The Group has presented Non-GAAP EBITDA on both a pre and post-IFRS 16 basis.  The post-IFRS 16 measure is stated before the deduction for rent paid in the period, and remains the key metric for internal decision-making, with the pre-IFRS 16 measure used for loan facility compliance.

Operational progress in 2026

·     In the first half of 2026, Everyman has had strong results across a wide range of films, genres and events.  We have also delivered our highest performance on original IP, book adaptations, and biopics.

·     Growth in Market Share to 6.4%, up 60 basis points (H1 2025: 5.8%) with strong performance on such titles as The Devil Wears Prada 2, Wuthering Heights, Project Hail Mary, Hamnet and Michael. 

·      Further increase in Membership to 75,788, up 13.4% (H1 2025: 66,814).

Growth trajectory pillars: looking ahead

·	Assessing technology investment to create a more seamless customer journey for ticketing and pre-ordering.
·	Implementing a CRM system to enable data and consumer insights to refine our film curation across core and growing segments including Gen Z and Family.
·	We are investing in operational training and developing playbooks for new and maturing venues.
·	Planning continues for new venue openings at Lichfield, Elephant & Castle and High Street Kensington, with openings anticipated in H2 2027 and funded through free cash flow. The timing and phasing of capital expenditure is dependent on access to the properties being granted.
·	Unlocking opportunities to grow revenue beyond core, including expanding income from partnerships, events and corporate private hire.  Strong partnership collaboration with aspirational brands including Range Rover, Ella's Kitchen, Emirates, Diet Coke and Rolex.
·	Further innovation in high quality, on trend Food & Beverage leveraging consumption patterns which support increases in spend per head.

Confidence for the full year

·    Strong pipeline of content for the remainder of the year, including The Odyssey and Spider-man: Brand New Day released in July, Sense and Sensibility in September, The Hunger Games: Sunrise On The Reaping in November, Avengers: Doomsday and Dune: Part Three in December supported by strong original content well-suited to the Everyman audience.

·    While trading performance has been positive for the first half, the Directors retain a degree of caution for the full year outlook due to the challenging economic environment and the significance of Q4 trading to the overall annual performance of the Company.

·    The Directors currently expect financial year performance to be marginally ahead of 2025. 

Farah Golant CBE, Chief Executive of Everyman Media Group Plc, said:

"The passion and the pride in what we do is palpable every day at Everyman.  We have momentum and a strong focus to manage the business with discipline and prudent investment. Through diverse and imaginative film curation, beautifully designed signature spaces and a distinctive service style in strategically located venues, the Everyman brand is leading the way for audiences seeking premium cinema as an irresistibly social experience."

For further information, please contact:
Everyman Media Group plc	Tel: [phone]
Farrah Golant, Chief Executive
Sheree Manning, Chief Financial Officer
Canaccord Genuity Limited (NOMAD and Broker)	Tel: [phone]
Bobbie Hilliam
Elizabeth Halley-Stott

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended) ("UK MAR").

About Everyman Media Group PLC:

Everyman is a leading UK cinema and entertainment brand, redefining the theatrical experience. Everyman operates a growing estate of venues across the UK providing first class cinema and hospitality.

Our competitive strengths are:

·	·       A broad range of well-curated programming content, from mainstream and independent films to theatre and live concert streams, appealing to a diverse range of audiences ·       An emphasis on a strong quality food and drink menu prepared in-house ·       Intimate and atmospheric venues, which become desirable destinations in their communities
·	·       Motivated and welcoming people

For more information visit http://investors.everymancinema.com/

Chief Executive's Statement

I am pleased to report the half-year results for 2026 which provide evidence of meaningful progress for the business.  The UK box office exceeded £600m for the first time since the pandemic, up from £532.7m in 2025.  Against a market backdrop of +13% market growth, Everyman grew +25% with admissions up by 20.5% and average ticket price +4.1%.  Our market share rose from 5.8% to 6.4% to place us as the second fastest growing cinema circuit in the UK.  Five of our venues ranked in the top 20 nationally with growth of between 40-50%.

We have workstreams in place to drive key aspects of sustained growth and to consolidate the position of the Everyman brand as a pioneer in premium cinema offering.  We are meeting the demand of diverse audiences nationally, who are returning to Everyman for cinema as an irresistible social experience.  Our ambition remains strong. We continue to build on this momentum by:

-Elevating the Everyman guest experience
-Optimising and expanding our footprint with discipline
-Unlocking new channels for audience engagement and brand relevance
-Deepening our strategic relationships with our distributor partners
-Collaborating with aspirational brands

I look forward to the work ahead with the Senior Leadership, the Board and the entire Everyman team whose passion, dedication, experience and creativity gives new definition to premium cinema.

Financial Overview

Revenue increased by 23.5% to £69.8m (H1 2025: £56.5m), with growth reported across all our key revenue generating metrics:

·    Admissions increased to 2.6m, up 20.5% (H1 2025: 2.2m).

·    Market share increasing to 6.4%, up 60 bps (H1 2025: 5.8%).

·    Average Ticket Price increased 4.1% to £12.97 (H1 2025: £12.46); and

·    Food & Beverage SPH was £11.41, up 3.0% (H1 2025: £11.09). 

Adjusted EBITDA post-IFRS16 rose 32.0% to £10.8m (H1 2025: £8.2m), reflecting a strong underlying performance.

At the period-end net bank debt was £17.4m (H1 2025: £24.2m), reflecting a focus on managing net debt and reducing leverage whilst we prepare to open new venues in 2027.  Gross debt repayments of £5.0m have been made since the year-end, with closing gross debt of £25.0m (H1 2025: £29.0m, YE2025: £30.0m).

Growth Trajectory

We have intentionally approached this year to achieve a reset and to re-ignite growth. Our priority is to unlock value from our existing estate whilst we prepare for strategically important new venue openings in 2027.

We are making investments in technology, data and insights to refine our film curation and to create a seamless online guest journey for ticketing and pre-ordering. This will also enhance the impact of our marketing efficacy and enable tailored offerings for key segments such as Gen Z and Family.

We have strengthened our operational leadership at all levels including a new role, Head of Back of House, to deliver a stronger offering and ensure consistency across the business.  Known for our high-quality food and beverage, we continue to innovate in our offering, flexing with seasonal and on-trend themes. For spring, we launched a trial of Popcorn chicken and a new Lobster roll at key venues, which will be introduced to additional venues later in the year. In response to a growing demand for non-alcoholic options, we expanded our drinks offering with the introduction of a Grapefruit & Elderflower Botivo spritz and a trial of Guinness 0.0.  Our seasonal specials, the Hawaiian Pizza and the Smokehouse BBQ burger are very popular.

We have defined specific venue 'cohorts' across our estate with potential to increase occupancy and established clear KPI's to enhance performance and optimise our footprint.  We are investing in operational training and developing playbooks for new and maturing venues.

Membership continues to be a key area of commercial value, building higher frequency and higher SPH patterns across all our 49 venues. Our Membership has grown 13% year on year to 75,788 members and we are planning to further enhance member benefits and value.

We are rapidly growing revenue beyond the core, expanding our income from private hire, events and brand partnerships.  We continued to partner with Range Rover, with their campaign broadening to include their sponsorship of soundtracking events with Edith Bowman.  Ella's Kitchen became Everyman's Baby Club partner, which continues to be a success amongst our growing family audience. Emirates concluded their first partnership burst with awards-contender screenings, including the UK's only previews of Wuthering Heights. Diet Coke invested in a full national campaign around opening weekend of The Devil Wears Prada 2, placing the product centre stage across all 49 venues.

Rolex continued their support of Everyman on the Canal which returned to Kings Cross this summer, attracting significant audiences over a 6 week season, with a carefully curated programme of films, live sport and entertainment. It embodies Everyman's commitment to bringing people together through the power of film and shared experience, reaching new audiences and embedding us at the heart of local communities and culture.

Outlook

The trading performance of H1 2026 highlights Everyman's iconic position in the market to meet the demand for premium cinema experience.  We are encouraged by a strong film slate this year with highlights including The Odyssey and Spider-man: Brand New Day released in July, Sense and Sensibility in September, The Hunger Games in November, and Avengers: Doomsday and Dune: Part Three in December.  We are also strengthened by the investments we are making to unlock new value. We continue to innovate and to enhance the guest experience, delivering on the Everyman promise to our audiences nationally.  

Farah Golant
Chief Executive Officer
3 September 2026

Financial Review

Introduction

The financial information presented is as at and for the 26 week financial period ended 2 July 2026 ("H1 2026").  The comparative period is for the 26 week period ended 3 July 2025 ("H1 2025"). 

Basis of presentation of results

The Group presents adjusted results to provide additional clarity and understanding of the Group's underlying trading.  Adjusted results are before depreciation, amortisation, pre-opening expenses and certain exceptional items.

The Group has presented Non-GAAP adjusted EBITDA on both a pre- and post-IFRS 16 basis.  The post-IFRS 16 measure is stated before the deduction for rent paid in the period, and remains the key metric for internal decision-making, with the pre-IFRS 16 measure used for loan facility compliance.

All results within the Financial Review are adjusted results, unless specified.  A reconciliation between Statutory and Adjusted results is shown at the end of this report. 

Financial highlights for the 26 weeks ended 2 July 2026¹

·     Revenue of £69.8m (H1 2025: £56.5m), up 23.5%

·     Gross profit of £45.3m (H1 2025: £37.1m), up 22.0%

·     Statutory Operating profit of £5.3m (H1 2025: £0.1m)

·     Statutory Profit before tax £1.9m (H1 2025: £3.4m loss)

·     Basic earnings per share of 1.71p (H1 2025: 3.33p loss).

·     Adjusted Operating profit of £3.5m (H1 2025: £0.8m)

·     Non-GAAP adjusted EBITDA post IFRS16 of £10.8m (H1 2025: £8.2m), up 32.0%

·     Net banking debt £17.4m (H1 2025: £24.2m)

·     Admissions of 2.6m, up 20.5% (H1 2025: 2.2m)

		Adjusted results2		Statutory results
		H1 2026 £'000	H1 2025 £'000	H1 2026 £'000	H1 2025 £'000
Revenue		69,765	56,480	69,765	56,480
Cost of sales		(24,496)	(19,368)	(24,496)	(19,368)
Gross profit		45,269	37,112	45,269	37,112
Gross profit margin		64.9%	65.7%	64.9%	65.7%
Other income		190	243	190	243
Administrative expenses excluding D&A		(34,635)	(29,155)	(32,861)	(29,887)
Depreciation and amortisation ("D&A")		(7,322)	(7,366)	(7,322)	(7,366)
Operating profit		3,502	834	5,276	102
Net finance (expense)		(3,367)	(3,492)	(3,367)	(3,492)
Profit/(loss) before tax		135	(2,658)	1,909	(3,390)
Tax (charge)/credit		(476)	250	(346)	351
(Loss)/profit after tax		(341)	(2,408)	1,563	(3,039)
(Loss)/earnings per share (pence)		(0.37)	(2.64)	1.71	(3.33)

EBITDA pre IFRS-16		6,644	4,224	8,418	3,492
EBITDA post IFRS-162		10,824	8,200	12,598	7,467
EBITDA post IFRS-16 margin		15.5%	14.5%	18.1%	13.2%
Net debt		17,449	24,155	17,449	24,155

¹ The YOY % change is calculated on unrounded numbers.

² A reconciliation between Statutory and Adjusted results is shown at the end of this report. 

The Statutory operating profit was £5.3m (H1 2025: £0.1m) which includes a share-based payment credit of £2.2m in the period (H1 2025: £0.3m charge) relating to lapsed and unvested growth shares for a former Executive Director. The Statutory profit after tax was £1.6m (H1 2025: £3.0m loss) after financing costs of £3.4m (H1 2025: £3.5m) and a deferred tax charge of £0.3m (H1 2025: £0.4m credit) which are further described below.

The Group reports revenue of £69.8m (H1 2025: £56.5m) and adjusted operating profit of £3.5m (H1 2025: £0.8m).  Adjusted EBITDA post IFRS-16 was £10.8m (H1 2025: £8.2m) reflecting an EBITDA margin of 15.5% (H1 2025: 14.5%). The Group reports an adjusted loss after tax of £0.3m (H1 2025: £2.4m) and adjusted basic loss per share of 0.37p (H1 2025: 2.64p).

Group net debt was £17.4m at the period-end (H1 2025: £24.2m), with strong operational cashflows in the first half and a focus on managing net debt and reducing leverage whilst we prepare to open new venues in 2027. 

Revenue

The Group delivered revenue of £69.8m, growth of 23.5% compared to the prior period.

		Adjusted results		Statutory results
		H1 2026 £'000	H1 2025 £'000	H1 2026 £'000	H1 2025 £'000
Film and entertainment		34,154	27,287	34,154	27,287
Food and beverages		29,904	24,096	29,904	24,096
Other		5,707	5,097	5,707	5,097
Total Revenue		69,765	56,480	69,765	56,480

Film and entertainment revenue grew 25.2% period-on-period, which nearly doubled the UK box office revenue growth of 12.9% in H1 2026.  Paid for Average Ticket Price of £12.97 (H1 2025: £12.46), was a 4.1% increase compared to the prior period.  Admissions were 2.6m, an increase of 20.5% (H1 2025: 2.2m). 

Market share increased from 5.8% to 6.4% (+60 bps) aided by strong admissions, original content and drama titles.  Key films which exceeded market share in H1 2026 included Wuthering Heights, The Devil Wears Prada 2, Hamnet and Project Hail Mary.

Food & beverage revenue grew 24.1% period-on-period, with SPH increasing by 3.0% to £11.41 (H1 2025: £11.09). This growth was primarily supported by increased admissions and ongoing menu development.

Other revenue grew by 12.0% period-on-period, this included memberships which grew by 13.4%, reaching 75,788 members (H1 2025: 66,814).

Gross profit

Gross profit is calculated as revenue less directly attributable cost of goods sold and does not include any employee costs.  Gross profit was £45.3m, a 22.0% increase (H1 2025: £37.1m). 

Gross profit margin was 64.9% (H1 2025: 65.7%), with the lower margin primarily due to higher Film Hire costs associated with the increased number of blockbuster titles.

Other income

Other income of £0.2m (H1 2025: £0.2m) comprises landlord compensation. 

Administrative expenses		Adjusted results		Statutory results
		H1 2026 £'000	H1 2025 £'000	H1 2026 £'000	H1 2025 £'000
Administrative expenses excluding D&A		(34,635)	(29,155)	(32,861)	(29,887)
Depreciation & amortization		(7,322)	(7,366)	(7,322)	(7,366)
Total Administrative expenses		(41,957)	(36,521)	(40,183)	(37,253)

Adjusted administrative expenses excluding D&A were £34.6m (H1 2025: £29.2m), an 18.8% increase, comprising of:

·    Employment costs were £20.4m (H1 2025: £17.3m), increasing by 18.5%. This was due to new venues opened during 2025, additional employees required to support the higher admissions, the rise in National Insurance contribution ("NIC") from 13.8% to 15% in April 2025, and the National Living Wage ("NLW") which increased by 4.1% in April 2026, following the increase of 6.7% in April 2025. £1.3m of the increased period-on-period employment cost can be attributed to higher admissions, and £0.9m to the combined NIC and NLW changes.

·     Property costs were £7.3m (H1 2025: £5.9m), increasing by 24.1% due to impact of venues opened in 2025 and higher maintenance costs associated with increased admissions.

·     Other costs were £6.9m (H1 2025: £6.0m), increasing by 14.5% due to new venues, higher IT and cleaning costs. 

Statutory administrative costs include £1.8m of exceptional income (H1 2025: £0.7m cost), which are further described below.

Exceptional income / (costs)				Statutory results
				H1 2026 £'000	H1 2025 £'000
Restructuring, transformation and other costs				(274)	(364)
Share-based payment credit / (expense)				2,233	(326)
Long term incentive scheme				(124)	-
Exceptional gain on disposal of Barnet occupational lease				-	288
Pre-opening expenses				(61)	(330)
Total Exceptional income / (costs)				1,774	(732)

Exceptional costs include:

·     Restructuring costs, and other costs were incurred in the period in relation to employment contract terminations.  The prior period exceptional costs mainly related to the termination of certain employment, IT and guest relations contracts and transforming the guest relations team.

·     Share based payments income/(expenses) are treated as an adjusting item as this vests over a number of years and the charge does not directly relate to the current periods trading.  The £2.2m credit arising in the period relates to lapsed and unvested growth shares for a former Executive Director.

·     Long term incentive scheme costs are treated as an adjusting item as this award vests over a number of years.

·     In the prior period, the Group exited the Barnet occupational lease and acquired the long leasehold for £1.1m including associated acquisition costs.  The derecognition of the occupational lease gave rise to a £0.3m exceptional gain in the prior period.

·     Pre-opening expenses mainly include property expenses (such as utilities, service charges and business rates) and venue staff costs (new venue preparation and staff training) incurred prior to opening a new venue.

Depreciation and amortisation

The depreciation and amortisation charge of £7.3m in the period (H1 2025: £7.4m) includes £5.0m charge for tangible assets, £2.1m amortisation of right of use assets (ROUA) and £0.2m amortisation of intangible assets.

Finance (expense)/income

Financial expenses of £3.4m (H1 2025: £3.5m) comprise of interest charges on the Group's lease liabilities £2.4m (H1 2025: £2.4m) and £1.0m of financing charges and costs for the Group's banking facilities (H1 2025: £1.1m). 

The Group earnt interest income of £38k, for cash held on overnight deposit since April 2026 (H1 2025: nil).

Taxation

The Group has a statutory tax charge of £0.3m for the period (H1 2025: £0.4m tax credit) with an effective statutory effective tax rate of 18.1%.  In the prior period, the Group's effective tax rate of 10.3% is due to fixed assets which do not qualify for capital allowances.

The statutory tax charge for the period of £0.3m includes a £0.7m permanent difference arising on the excess IFRS 2 charge above the deferred tax calculated on future taxable deductions on the share options, offset by depreciation on fixed assets which did not qualify for capital allowances.  The Group is in a taxable profit position for the first half and has utilised brought forward losses against this profit to arrive at a nil current tax position.

The net deferred tax asset at the period-end of £4.0m includes £12.6m of tax losses (gross carried forward losses of £50.7m), £0.4m of IFRS16 deferred tax assets, offset by £9.0m of property, plant and equipment deferred tax liabilities, and £0.1m of other deferred tax liabilities. 

The Group continues to recognise the tax losses as a deferred tax asset due to increased certainty over future trading performance. The gross brought forward tax losses are expected to be utilised by the Group over the next five years. 

The Group has £6.3m of gross deferred tax assets that are unrecognised at the period-end.

The Group's adjusted tax charge of £0.5m for the period (H1 2025: £0.3m credit) are both driven by non-qualifying depreciation. 

The main difference between the H1 2026 statutory and adjusted tax is due to the share based payment credit which gives rise to a £0.03m deferred tax movement, and corresponding credit on the tax reconciliation.

Non-GAAP adjusted EBITDA

In addition to performance measures directly observable in the financial statements, the following additional performance measures are used internally by management to assess performance:

·     Non-GAAP Adjusted EBITDA

·     Admissions

·     Paid-for Average Ticket Price

·     Food & Beverage SPH

Management believes that these measures provide useful information to evaluate performance of the business as well as individual venues, to analyse trends in cash-based operating expenses, and to establish operational goals and allocate resources.

Non-GAAP adjusted EBITDA is defined as earnings before interest, taxes, depreciation, amortisation, profit or loss on disposal of Property, Plant & Equipment, impairment, share based payments, long-term incentive schemes, pre-opening expense and exceptional costs.

Non-GAAP adjusted EBITDA post-IFRS16 was £10.8m (H1 2025: £8.2m). The Group improved its post-IFRS 16 EBITDA margin to 15.5% (H1 2025: 14.5%).  Non-GAAP adjusted pre-IFRS16 was £6.8m (H1 2025: £4.2m).

The reconciliation between operating profit/(loss) and non-GAAP adjusted EBITDA is presented below:

		Adjusted results		Statutory results
		H1 2026 £'000	H1 2025 £'000	H1 2026 £'000	H1 2025 £'000
Operating profit		3,502	834	5,276	102
Depreciation and amortisation		7,322	7,366	7,322	7,366
EBITDA post IFRS161		10,824	8,200	12,598	7,468
Rent costs		(4,180)	(3,976)	(4,180)	(3,976)
EBITDA pre IFRS-16		6,644	4,224	8,418	3,492

The Group has presented Non-GAAP adjusted EBITDA on both a pre and post-IFRS 16 basis. The post IFRS-16 measure, is before the deduction for rent paid in the period, and remains the key metric for internal decision-making, with the pre IFRS-16 measure used for loan facility compliance.

The reconciliation between operating profit/(loss) as determined under IFRS to adjusted operating profit is presented below:

				H1 2026 £'000	H1 2025 £'000
Operating profit as determined under IFRS				5,276	102
Adjustments:
Restructuring, transformation and other costs				274	364
Share-based payment (credit) / expense				(2,233)	326
Long term incentive scheme charge				124	-
Exceptional gain on disposal of Barnet occupational lease				-	(288)
Pre-opening expenses				61	330
Total adjusting items				(1,774)	732
Adjusted operating profit				3,502	834

Cash Flow and Liquidity

The Group ended the period with cash and cash equivalents of £7.6m (H1 2025: £4.8m) and net banking debt of £17.4m (H1 2025: £24.2m).  The reduction in net debt of £6.8m was driven by improved cash generated from operating activities and reduced cash outflows associated with venue expansion, which impacted the prior period.  The Directors believe that the Balance Sheet remains well capitalised, with sufficient working capital to service ongoing requirements.

The net cash outflow for the period was £0.9m (H1 2025: £5.0m), after £5.0m of gross debt repayments (H1 2025: nil) and £2.3m of capital expenditure (H1 2025: £5.3m, net of landlord contributions).    

Net cash generated from operating activities was £11.6m (H1 2025: £4.7m) which included a working capital inflow of £1.1m (H1 2025: £2.9m outflow). 

Cash flow used in investing activities was £2.2m (H1 2025: £9.0m) which relates to £0.2m on venue expansion and £2.0m on maintenance and IT infrastructure capital expenditure.  The prior period includes investment in the Brentford and Whiteley venues, which opened in February and August 2025 respectively, as well as final payments for the Cambridge and Stratford sites, which opened in November and December 2024 respectively.  In March 2025, the Barnet long leasehold was purchased for £1.1m.

Cash flow used in financing activities was £10.2m (H1 2025: £0.7m).  This includes £4.2m for capital and interest lease payments (H1 2025: £4.3m), £1.0m in interest payable on borrowings (H1 2025: £1.1m) and £5.0m gross debt repayment (H1 2025: £1.0m drawdown).  The prior period includes a £3.7m landlord contribution receipt in relation to new venues opened in 2025.

Free Cash Flow Pre New Openings was £4.3m in the period (H1 2025: negative £2.0m).  Free Cash Flow Pre New Openings is defined as operating cash flow less lease payments (excluding contributions from new openings), investing cash flow (excluding payments made for new openings/long leaseholds), and interest paid on borrowings.

The Board does not recommend the payment of a dividend at this stage in the Group's development.

Banking

The Group retains its £35.0m three-year loan facility with Barclays Bank Plc and National Westminster Bank Plc, which was agreed on 17 August 2023. In December 2025, the Group agreed to extend the facility to 30 August 2027, and in August 2026 a further one year extension was agreed to extend the facility to 30 August 2028.  This ensures that the Group has certainty over its banking facilities and ensures it is well positioned to take advantage of opportunities moving forwards. The facility also includes an additional £5m accordion element, to 30 August 2027, subject to lender consent. 

Covenants on the loan facility are based on Adjusted Leverage and Fixed Charge Cover. The Group's current forecasts demonstrate that the Group will remain within these covenants for the foreseeable future.

At the period-end, the Group had drawn down £25.0m (H1 2025: £29.0m) on its facility and held £7.6m in cash (H1 2025: £4.8m). The undrawn facility was £10.0m (H1 2025: £6.0m) and net banking debt was £17.4m (H1 2025: £24.2m).

Sheree Manning

Chief Financial Officer
3 September 2026

Consolidated statement of profit and loss and other comprehensive income for the period ended 02 July 2026 (unaudited)

					26 weeks ended	26 weeks ended	Year ended
					02 July	03 July	01 January
					2026	2025	2026
				Note	£000	£000	£000
Revenue				3	69,765	56,480	116,596
Cost of Sales					(24,496)	(19,368)	(39,761)
Gross profit					45,269	37,112	76,835
Other Operating Income					190	243	986
Administrative expenses					(40,183)	(37,253)	(80,759)
Operating profit/(loss)					5,276	102	(2,938)
Financial income					38	-	-
Financial expense					(3,405)	(3,492)	(7,244)
Profit/(loss) before taxation					1,909	(3,390)	(10,182)
Tax (charge)/credit				4	(346)	351	(164)
Total comprehensive profit/(loss) for the period					1,563	(3,039)	(10,346)
Basic profit/(loss) per share (pence)				5	1.71	(3.33)	(11.35)
Diluted profit/(loss) per share (pence)				5	1.62	(3.33)	(11.35)
All amounts relate to continuing activities.
Non-GAAP measure: adjusted EBITDA3
Statutory operating profit/(loss) as determined under IFRS					5,276	102	(2,938)
Adjustments:
Depreciation and amortisation					7,322	7,366	14,963
Exceptional costs2					274	364	777
Disposal of property, plant and equipment					-	-	265
Gain on disposal of lease					-	(288)	(288)
Impairment					-	-	2,946
Pre-opening expenses1					61	330	758
Long term incentive scheme charge					124	-	-
Share-based payment credit / (expense)					(2,233)	326	541
Adjusted EBITDA post IFRS-163					10,824	8,200	17,024

¹ Pre-opening expenses mainly include venue staff costs (new venue preparation and staff training) and property expenses (such as utilities, service charges and business rates) incurred prior to a new venue opening.

² Exceptional costs mainly relate to restructuring costs.  The prior year exceptional costs mainly related to restructuring, technology and guest relations transformation costs. 

³ The Group has presented Non-GAAP adjusted EBITDA post IFRS-16.  The post-IFRS 16 measure is stated before the deduction for rent paid in the period, and remains the key metric for internal decision-making, with the pre IFRS-16 measure used for loan facility compliance. A reconciliation between pre and post IFRS-16 EBITDA is presented in the Financial Review.

Consolidated balance sheet at 02 July 2026 (unaudited)

							Registered in England and Wales 08684079
					02 July	03 July		01 January
					2026	2025		2026
					£000	£000		£000
Assets
Non-current assets
Property, plant and equipment					100,351	108,090		103,120
Right-of-use assets					57,371	61,480		59,277
Deferred tax assets					3,976	4,809		4,323
Intangible assets					8,735	9,269		8,795
Trade and other receivables					333	303		303
					170,766	183,951		175,818
Current assets
Inventories					967	875		936
Trade and other receivables					5,961	6,798		6,931
Cash and cash equivalents					7,551	4,845		8,418
					14,479	12,518		16,285
Total assets					185,245	196,469		192,103
Liabilities
Current liabilities
Trade and other payables					28,130	24,655		27,543
Lease liabilities					3,851	2,887		3,633
					31,981	27,542		31,176
Non-current liabilities
Other interest-bearing loans and borrowings					25,000	29,000		30,000
Other provisions					1,550	1,596		1,550
Lease liabilities					100,712	104,592		102,730
					127,262	135,188		134,280
Total liabilities					159,243	162,730		165,456
Net assets					26,002	33,739		26,647
Equity attributable to owners of the Company
Share capital					9,143	9,118		9,118
Share premium					57,112	57,112		57,112
Merger reserve					11,152	11,152		11,152
Other reserve					83	83		83
Retained earnings					(51,488)	(43,726)		(50,818)
Total equity					26,002	33,739		26,647

Consolidated statement of changes in equity for the period ended 02 July 2026 (unaudited)

				Share	Share	Merger	Other	Retained	Total
				capital	Premium	reserve	Reserve	earnings	equity
				£000	£000	£000	£000	£000	£000
Balance at 01 January 2026				9,118	57,112	11,152	83	(50,818)	26,647
Profit for the period				-	-	-	-	1,563	1,563
Total comprehensive income				-	-	-	-	1,563	1,563
Ordinary shares issued in the period				25	-	-	-	-	25
Share-based payments				-	-	-	-	(2,233)	(2,233)
Total transactions with owners of the parent				25	-	-	-	(2,233)	(2,208)
Balance at 02 July 2026				9,143	57,112	11,152	83	(51,488)	26,002
Balance at 02 January 2025				9,118	57,112	11,152	83	(41,013)	36,452
Loss for the period				-	-	-	-	(3,039)	(3,039)
Total comprehensive income				-	-	-	-	(3,039)	(3,039)
Share-based payments				-	-	-	-	326	326
Total transactions with owners of the parent				-	-	-	-	326	326
Balance at 03 July 2025				9,118	57,112	11,152	83	(43,726)	33,739

Consolidated cash flow statement for the period ended 02 July 2026 (unaudited)

					02 July	03 July	01 January
					2026	2025	2026
					£000	£000	£000
Cash flows from operating activities
Profit/(loss) for the period					1,563	(3,039)	(10,346)
Adjustments for:
Financial expenses					3,367	3,492	7,244
Tax charge/(credit)					346	(351)	164
Operating profit/(loss)					5,276	102	(2,938)
Depreciation and amortisation					7,322	7,366	14,963
Loss on disposal of property, plant and equipment					-	-	265
Impairment					-	-	2,946
Gain on disposal of lease					-	(288)	(288)
R&D Tax Credit					-	28	-
Equity-settled share-based payment (credit)/expense					(2,233)	326	541
					10,365	7,534	15,489
Changes in working capital
Decrease/(increase) in inventories					(31)	89	28
Decrease/(increase) in trade and other receivables					976	618	(284)
Increase/(decrease) in trade and other payables					245	(3,575)	(185)
Net cash generated from operating activities					11,555	4,666	15,048
Cash flows from investing activities
Interest earned					38	-	-
Acquisition of property, plant and equipment					(2,131)	(7,493)	(11,543)
Acquisition of long leasehold					-	(1,084)	(1,084)
Acquisition of intangible assets					(131)	(408)	(347)
Net cash used in investing activities					(2,224)	(8,985)	(12,974)
Cash flows from financing activities
Proceeds from the issuance of Ordinary shares					25	-	-
Repayment of bank borrowings					(5,000)	-	(1,000)
Drawdown of bank borrowings					-	1,000	3,000
Lease payments - interest					(2,362)	(2,367)	(4,764)
Lease payments - capital					(1,818)	(1,950)	(3,080)
Landlord capital contributions					-	3,723	4,473
Interest paid					(1,043)	(1,125)	(2,168)
Net cash used in financing activities					(10,198)	(719)	(3,539)
Cash and cash equivalents at the beginning of the period					8,418	9,883	9,883
Net decrease in cash and cash equivalents					(867)	(5,038)	(1,465)
Cash and cash equivalents at the end of the period					7,551	4,845	8,418

Notes to the financial statements

1	General information
	Everyman Media Group PLC and its subsidiaries (together, 'the Group') are engaged in the ownership and management of cinemas in the United Kingdom. Everyman Media Group PLC (the Company) is a public company limited by shares domiciled and incorporated in England and Wales (registered number 08684079). The address of its registered office is Studio 4, 2 Downshire Hill, London NW3 1NR.
2	Basis of preparation and accounting policies
	These condensed interim financial statements of the Group for the period ended 02 July 2026 have been prepared using accounting policies consistent with UK adopted International Accounting Standards. The same accounting policies, presentation and methods of computation are followed in the condensed set of financial statements as applied in the Group's latest audited financial statements for the year ended 01 January 2026.
	The financial statements presented in this report have been prepared in accordance with IFRSs applicable to interim periods. However, as permitted, this interim report has been prepared in accordance with the AIM Rules for Companies and does not seek to comply with IAS34 "Interim Financial Reporting".
	These condensed interim financial statements have not been audited, do not include all of the information required for full annual financial statements and should be read in conjunction with the Group's statutory consolidated annual financial statements for the year ended 01 January 2026. The auditor's opinion on these financial statements was unqualified, did not draw attention to any matters by way of emphasis and did not contain a statement under s498(2) or s498(3) of the Companies Act 2006. Going Concern Current trading is in line with management expectations. Given the increased number of wide releases year-on-year, commitment to the theatrical window from distributors and new investment from streamers in content for cinema, management expect admissions to continue to recover towards pre-pandemic levels. Paid for Average Ticket Price and Spend per Head have continued to grow steadily despite well-publicised concerns over consumer spends. Banking The Group retains its £35.0m RCF facility with Barclays Bank and National Westminster Bank Plc, which was agreed on 17 August 2023.  In December 2025, the Group agreed to extend the facility to 30 August 2027, and in August 2026 a further one year extension was agreed to extend the facility to 30 August 2028.  This ensures that the Group has certainty over its banking facilities and ensures it is well positioned to take advantage of opportunities moving forwards. The facility also includes an additional £5m accordion element, to 30 August 2027, subject to lender consent. Covenants on the facility are based on Adjusted Leverage and Fixed Charge Cover. The Group has operated within these covenants all year and expects to continue to do so going forward. At the period-end, the Group had drawn down £25.0m on its Revolving Credit Facility ("RCF") and held £7.6m in cash; therefore, the net banking debt was £17.4m and the undrawn RCF was £10.0m.  The Group's RCF has leverage and fixed charge cover covenants. The Board has reviewed forecast scenarios and is confident that the business can continue to operate with sufficient headroom. These forecasts include prudent assumptions around increases to admissions, as well as wage increases and inflation. In light of this, the Board consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements.
3	Revenue					26 weeks ended	26 weeks ended	Year ended 01
						02 July	03 July	January
						2026	2025	2026
						£000	£000	£000
	Film and entertainment					34,154	27,287	55,601
	Food and beverages					29,904	24,096	49,926
	Other income					5,707	5,097	11,069
						69,765	56,480	116,596

In the 26-week period ended 02 July 2026, £0.2m Other Operating Income was received (H1 2025: £0.2m), which is reported below Gross profit.  This consisted mainly of landlord compensation payments.

4	Taxation					26 weeks ended	26 weeks ended	Year ended 01
						02 July	03 July	January
						2026	2025	2026
						£000	£000	£000
	Deferred tax (credit)/expense
	Temporary differences on property, plant and equipment					(147)	364	1,461
	Temporary differences on IFRS 16 accumulated restatement					23	23	46
	Available losses					489	(675)	(1,366)
	Prior year adjustment					-	-	97
	Other temporary and deductible differences					(19)	(63)	(74)
	Total tax charge/(credit)					346	(351)	164
	The reasons for the difference between the actual tax charge/(credit) for the period and the standard rate of corporation tax in the United Kingdom applied to the profit/(loss) for the period are as follows:
	Reconciliation of effective tax rate					26 weeks ended	26 weeks ended	Year ended 01
						02 July	03 July	January
						2026	2025	2026
						£000	£000	£000
	Profit/(loss) before taxation					1,909	(3,390)	(10,182)
	Tax at the UK corporation effective tax rate of 25% (2025: 25%)					477	(848)	(2,545)
	Permanent differences (expenses not deductible for tax purposes)					(87)	528	1,489
	Deferred tax not previously recognised					87	(31)	1,373
	Changes in prior year capital allowance estimate					-	-	97
	Other					(131)	-	(250)
	Total tax charge/(credit)					346	(351)	164

5	Earnings per share					26 weeks ended	26 weeks ended	Year ended
						02 July	03 July	01 January
						2026	2025	2026
						£000	£000	£000
	Profit/(Loss) used in calculating basic and diluted earnings per share					1,563	(3,039)	(10,346)
	Number of shares (000's)
	Weighted average number of shares for the purpose of basic earnings per share					91,252	91,181	91,181
	Number of shares (000's)
	Weighted average number of shares for the purpose of diluted earnings per share					96,655	91,181	91,181
	Basic earnings/(loss) per share (pence)					1.71	(3.33)	(11.35)
	Diluted earnings/(loss) per share (pence)					1.62	(3.33)	(11.35)
	Basic earnings per share amounts are calculated by dividing net profit/(loss) for the period attributable to Ordinary equity holders of the parent by the weighted average number of Ordinary shares outstanding during the year.
	The Company has 5.4m potentially issuable shares (H1 2025: 6.1m, YE 2025: 5.3m) all of which relate to the potential dilution from the Group's share options issued to the Directors and certain employees and contractors, under the Group's incentive arrangements. For the prior year comparatives, these options were anti-dilutive as they would reduce the loss per share and so haven't been included in the diluted (loss) per share.

6                Events after the balance sheet date

On 27 August 2026 the Group extended the RCF by a further 12 months until 30 August 2028.  As at 27 August 2026, the Group had average net debt of £16.5m (2025: £23.9m), down 31.2%, with £3.0m of gross debt repaid since the half-year.

On 28 August 2026 Joe Lewis was appointed as a Non-Executive Director of the Group.  Mr Lewis is the Managing Director of Blue Coast Capital Properties Limited and is an alternate director to Michael Rosehill who is stepping back for health reasons.  Mr Philip Jacobson is assuming the role of Chair of the Remuneration Committee and member of the Audit and Risk Committee, on an interim basis, effective from 28 August 2026. 

 

END