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Attendance boost helps Universal increase earnings at its theme parks
POSTED 26 Jul 2019 . BY Andy Knaggs
Business continues to boom for Universal's theme park division, with the operator reporting revenue and earnings increases in its latest financial report.

Universal reported Q2 revenues of US$1.5bn (€1.34bn, £1.2bn) – an increase of 7.5 per cent year-on-year. The operator said this was due to increased attendance, helped by the timing of spring holidays and increases in guest spending.

Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 3.8 per cent to US$590m (€528m, £473m) in Q2, with increased revenue partly offset by higher operating expenses, including costs to support new attractions such as the Harry Potter-themed rollercoaster, Hagrid's Magical Creatures Motorbike Adventure in Orlando.

Six months revenue to the end of June 2019 amounted to US$2.7bn (€2.42bn, £2.16bn) – an increase of 3.7 per cent compared to 2018 – with EBITDA increasing by 2.2 per cent to US$1.1bn (€980m, £880m).

NBC Universal's overall results, which also include its cable networks, broadcast television and filmed entertainment, saw a drop in Q2 revenue to US$8.2bn (€7.34bn, £6.57bn), a decline of 0.8 per cent, while EBITDA increased 8.1 per cent to US$2.3bn (€2.06bn, £1.84bn).

"These results were driven by higher attendance, aided by the timing of spring break vacations and higher guest spending," said said Michael Cavanagh, senior EVP and CFO of Universal's parent company Comcast.

"We're excited about the future of our parks business as we have a great runway in coming years with Nintendo World opening in Japan in 2020, Universal Beijing opening in 2021 and other significant opportunities to come soon."

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A Harry Potter-themed rollercoaster was opened in Universal Orlando this summer Credit: Universal Orlando Resort
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Jobs    News   Products   Magazine
NEWS
Attendance boost helps Universal increase earnings at its theme parks
POSTED 26 Jul 2019 . BY Andy Knaggs
Business continues to boom for Universal's theme park division, with the operator reporting revenue and earnings increases in its latest financial report.

Universal reported Q2 revenues of US$1.5bn (€1.34bn, £1.2bn) – an increase of 7.5 per cent year-on-year. The operator said this was due to increased attendance, helped by the timing of spring holidays and increases in guest spending.

Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 3.8 per cent to US$590m (€528m, £473m) in Q2, with increased revenue partly offset by higher operating expenses, including costs to support new attractions such as the Harry Potter-themed rollercoaster, Hagrid's Magical Creatures Motorbike Adventure in Orlando.

Six months revenue to the end of June 2019 amounted to US$2.7bn (€2.42bn, £2.16bn) – an increase of 3.7 per cent compared to 2018 – with EBITDA increasing by 2.2 per cent to US$1.1bn (€980m, £880m).

NBC Universal's overall results, which also include its cable networks, broadcast television and filmed entertainment, saw a drop in Q2 revenue to US$8.2bn (€7.34bn, £6.57bn), a decline of 0.8 per cent, while EBITDA increased 8.1 per cent to US$2.3bn (€2.06bn, £1.84bn).

"These results were driven by higher attendance, aided by the timing of spring break vacations and higher guest spending," said said Michael Cavanagh, senior EVP and CFO of Universal's parent company Comcast.

"We're excited about the future of our parks business as we have a great runway in coming years with Nintendo World opening in Japan in 2020, Universal Beijing opening in 2021 and other significant opportunities to come soon."

Sign up here to get the Attractions Management weekly ezine and every issue of Attractions Management magazine free on digital.
A Harry Potter-themed rollercoaster was opened in Universal Orlando this summer Credit: Universal Orlando Resort
RELATED STORIES
Jurassic World - The Ride opens at Universal Hollywood


Revamped and completely reimagined, Universal's popular Jurassic Park thrill ride has undergone a full rebranding and retheming as Jurassic World – The Ride.
Hagrid’s Magical Creatures Motorbike Adventure announced for June at Wizarding World


Universal has confirmed rumours for its new Harry Potter-themed rollercoaster, unveiling Hagrid’s Magical Creatures Motorbike Adventure, which opens later this year.
Universal’s theme parks make revenue and pre-tax earnings gains in 2018


Universal’s theme parks achieved steady financial growth in the full year 2018 and in the fourth quarter of the year.
Universal Theme Parks revenues down in Q3 2018


Comcast’s latest financial reports for Q3 2018 show that its Universal Theme Parks brand’s revenues and adjusted earnings before income, tax, depreciation and amortisation (EBITDA) have dipped slightly compared to 2017’s Q3 performance.
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John McAslan + Partners-designed M7 cultural hub and museum opens in Doha
A new creative hub in Doha looks to position itself as the new heart of Qatar’s fashion and design industry – as well as a public showcase for innovation and entrepreneurship in the region.
North American and Japanese attractions dominate 2021 Thea Awards
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+ More catalogues  
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+ More directory  
DIARY

 

01-07 Dec 2022

World Leisure Congress 2022

tbc, Dunedin, New Zealand
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2022

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