EMAN

Everyman Media Group PLC

Media First-pass screen £30m

280/1000 Overall fit

AI beneficiary 35% 15

Operating leverage 25% 42

Valuation 25% 30

Downside protection 15% 35

First-pass take

Premium UK cinema operator with 5.8% market share, no AI exposure or strategy. Discretionary, cyclical business facing macro headwinds. Statutory loss £10.2m; net assets eroding £36.5m→£26.6m. Fixed-lease base offers leverage potential but admin costs growing 16% vs revenue 12.4%. Membership growth (18.5%) and pricing power (+ATP 4.3%) positive, but insufficient against loss profile and rising debt.

Flags

loss-makingcyclicalno-valuation-dataweak-fcfequity-erodingmacro-headwind