Everyman Media Share Discussion Threads

[asagi] 20/3/2020 09:25

yep, likewise surprised at the rally here. Closed the rest of my short this a.m.

Asagi (no position)

[sphere25] 19/3/2020 13:01

Just like many others, it's all looking rather precarious:

" Uncertainty due to the recent COVID-19 outbreak has been considered as part of the Group's adoption of the going concern basis. Trading over recent days has been impacted by COVID-19 and the delay of major movie releases. Following guidance provided by the UK government, the Board of Everyman has taken the decision to close its venues to guests until further notice. The health of our staff and our customers is the boards highest priority.

All appropriate measures have been put in place to reduce the impact on the Group, including cost reduction and the postponement of new sites, refurbishments and other capital expenditure projects. Whilst the Group has significant headroom in its loan facility there is a risk of breaching the Group's financial covenants. The Board is in discussions with its lenders and is in the process of re-negotiating its loan covenants to maintain liquidity through this period of uncertainty. The Board is hopeful of lenders continued support in this period of uncertainty which is underpinned by the Government announcement to provide guaranteed loans to business.

The Board's latest forecasts are based on a scenario where the business is closed for a period of three months with reduced admissions for the following two months at 50% and 65% of normal trade respectively. The Board has factored in a delay in all non-committed capital expenditure, reduction in variable costs including staffing and moving to monthly rent payments. In addition the Government has recently announced a twelve month business rates holiday for the hospitality sector. Under this scenario there is a risk of breaching the Group's financial covenants as stated above.

The Group also has a very supportive shareholder base who are committed to the long term success of the Group, and currently there is GBP14m headroom in the loan facility at the date of these financial statements. Subject to the waiver or agreement of new loan covenants which match the expected trading position of the business, the Group is able to operate within the level of its current facility for at least 12 months from the approval date of the financial statements.

The events arising as a result of the COVID-19 outbreak has meant that there is a material uncertainty. Based on these indications the directors believe that it remains appropriate to prepare the financial statements on a going concern basis. "

[quepassa] 17/3/2020 13:04

One notes the words in today's RNS about dialogue with lenders on facility covenants:-

"The Group has significant headroom in its loan facility and is in dialogue with its lenders on covenants to maintain liquidity through this period of uncertainty."


Let's hope that banks are more sympathetic with small business than they were in the 08/09 crash.

Let's see what The Chancellor proposes this afternoon for financial support to impacted sectors.

ALL IMO. DYOR.
QP

[quepassa] 17/3/2020 12:58

Everyman closes its cinemas until further notice.

ALL IMO. DYOR.
QP

[quepassa] 17/3/2020 09:07

I feel sorry for Everyman Group.

The recommendations yesterday by Johnson to the public will likely decimate any remaining cinema-going audiences across the whole country in my opinion.

Who knows but it cannot be ruled out that some chains will temporarily close their cinemas.

Let's see how the government plans to aid the leisure and other affected sectors with announcements expected later today.

ALL IMO. DYOR.
QP

[quepassa] 16/3/2020 08:11

This will fall to pennies methinks.

ALL IMO. DYOR.
QP

[quepassa] 14/3/2020 19:35

France has shut down cinemas

ALL IMO. DYOR.
QP

[quepassa] 13/3/2020 16:18

1.It is very informative to click on the Everyman website and to check seat availability for tonight's performances.

Normally Friday is one of the peak nights of the week.


2. Vue Cinema sends message this afternoon to customers saying it has implemented stringent deep-cleaning measures and is monitoring official guidance very closely.

Clearly Vue are trying to re-assure customers whilst asking anyone showing the symptoms of coronavirus to follow government advice and stays at home for 7 days.


ALL IMO. DYOR.
QP

[quepassa] 13/3/2020 06:59

So many more new Hollywood blockbuster and other films pulled from release due to Covid-19 fears:


F9 - Fast and Furious
Mulan
A Quiet Place Part 2
The Lovebirds
Antlers
Peter Rabbit 2
James Bond - No Time to die

etc etc etc


This is going to further crash global cinema box-office receipts with so many commercial money-spinner Hollywood films being delayed from release.

ALL IMO. DYOR.
QP

[asagi] 12/3/2020 11:40

and the rollout as well. That will be crucial.

Don't think the market is in the mood to believe anything but disaster and surely commitments to the rollout are already substantial.

Asagi (short EMAN)

[quepassa] 12/3/2020 11:11

Cineworld PLC Prelims via RNS today.

Solid results with no material impact SO FAR this year.

But see what Chairman and CEO say about Outlook + uncertainty re Corona.

ALL IMO. DYOR.
QP

[asagi] 10/3/2020 15:30

I'm short here.

It was already expensive. On current forecasts, the shares trade at 64 times last year's earnings and 64 times next.

Last trading statement:
Pre-IFRS 16 EBITDA expected to be approximately £12.0 million, an increase of 30% year on year, exceeding revenue growth as the Group benefits from a larger estate.



I don't see any like-for-like numbers in there.

Most recent set of results showed 'cash and cash equivalents' of 1.9m, down from 3.1m a year ago and 3.5m as at the beginning of the FY.

The next set of results must be imminent and actually that might save the share price. If trading is worsening then management might not be in a place to be able to quantify that meaningfully at this stage. Otherwise, it just looks totally overpriced and was BEFORE coronavirus.

Asagi (short EMAN)

[quepassa] 05/3/2020 11:05

Bond release delayed until November due to Hollywood concerns over audience numbers at this time.

Numbers of Cinema-goers in countries like China have fallen off the cliff.

Restaurants and places of communal gatherings are recording record low visitor/customer numbers.


The UK cinema industry will likewise be very negatively impacted.

ALL IMO. DYOR.
QP

[masurenguy] 05/3/2020 10:48

Results due two weeks today but the greatest interest will be the impact of CV over the past few weeks and the outlook for the first half of 2020. The shareprice is down 12% over the past 2 weeks but Cineworld seems to be in free fall. No position in EMA (or CINE for that matter) - just on my Watchlist.

[nw99] 15/1/2020 07:23

Crispin Lilly, Chief Executive of Everyman said: "This is a solid result for the year. After record admissions in 2018, UK box-office fell by 1.9% in 2019; despite this we grew each of our key performance metrics and also increased our overall market share of the UK box-office. We remain positive on the outlook for the cinema industry, the Everyman brand and for the Company in 2020. Our teams continue to deliver great results across all areas of the business and we are well placed to deliver to expectations in 2020."

[wton1] 13/1/2020 09:41

Get up u crazy cat 300p

[wton1] 13/1/2020 09:15

clast chance to get at 226p

lots of big fillums this yeafr coming

[wton1] 10/1/2020 16:35

no stopping