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magazineBarbenheimer can’t even save Everyman Media with the shares down 30% so far in 2023
Box office record smashers Barbie and Oppenheimer helped lift admissions for Everyman Media (EMAN:AIM) in the final week of July and this is set to continue in August.
But that’s where the good news stops, there is no hiding the fact that Everyman is struggling to get known amongst consumers, its punchy price point could be an issue, and that is reflected in a low UK market share compared to its cinema competitors. The shares have also struggled badly of late, falling nearly 30% since the start of 2023.
The latest set of results from the company saw it reporting lower first half revenue – down 5.9% to £38.3 million from £40.7 million in the same six-month period in 2022.
Everyman has also agreed to a new three-year £35 million loan facility with Barclays Bank (BARC) and NatWest (NWG) which is extendable by a further two years.
Analysts at Canaccord Genuity have viewed this refinancing facility in a positive light as ‘the new facility ensures the group is soundly financially structured and well positioned to take advantage of opportunities moving forward’.
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