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NEWS
Easter timing hits Q1 results for Six Flags
POSTED 26 Apr 2019 . BY Andy Knaggs
Six Flags operates 26 parks across the US, Canada and Mexico

We are well-positioned to deliver our tenth consecutive year of record financial performance in 2019
– Jim Reid-Anderson
A later Easter holiday this year than in 2018 has affected Six Flags Q1 results, with the theme park company saying that some 200,000 guest visits will instead be included in Q2 figures.

Its revenue in Q1 2019 was US$128m (€115m, £99.4m) and attendance was 2.2 million guests – both down on Q1 2018 by US$1m (€900,000, £780,000) and 189,000 guests. However, guest spending per capita has risen, driven, says Six Flags, through its success in upselling guests from single day tickets to higher-priced memberships.

Guest spending per capita was, in fact, at an all-time high, at US$48.48 (€43.56, £37.66), as was its Active Pass Base, which includes all members and season pass holders. This increased by 5 per cent year-on-year.

The firm's adjusted EBITDA for the first quarter was a loss of US$32m (€28.76m, £24.86m), which is an increase of US$13m (€11.68m, £10.1m) on Q1 2018, caused primarily by the timing of Easter, as well as incremental lease and other costs associated with the five new US parks that Six Flags acquired in June 2018, and which were not, therefore, part of the business in the first quarter of that year.

Chair, president and CEO Jim Reid-Anderson said he was pleased with the Q1 2019 performance as "strong membership penetration continues to be a key driver of our long-term growth strategy, providing both a platform of increasing recurring revenue at higher prices and the ability to further grow attendance".

He added: "With our record-high Active Pass Base, ongoing price increases, growing dining pass penetration, and both domestic and international expansion opportunities, we are well-positioned to deliver our tenth consecutive year of record financial performance in 2019."

Six Flags Entertainment is the world's largest regional theme park operator and the largest operator of waterparks in North America, with 26 parks across the US, Canada and Mexico.
RELATED STORIES
  Six Flags on the hunt for new CEO as Reid-Anderson steps down


Six Flags Entertainment chair, president and CEO James Reid-Anderson has informed the group’s board of his decision to step down and retire by the end of February 2020.
  Six Flags reports record results for ninth consecutive year


Thirty-two million guests passed through the gates of a Six Flags theme park in 2018, helping to give the company record revenue figures for the ninth consecutive year.
  Rebrand, renovation and new attractions planned for US parks acquired by Six Flags


Three US theme parks acquired from EPR Properties last year are undergoing extensive enhancements and re-branding by new owners Six Flags Entertainment.
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NEWS
Easter timing hits Q1 results for Six Flags
POSTED 26 Apr 2019 . BY Andy Knaggs
Six Flags operates 26 parks across the US, Canada and Mexico
We are well-positioned to deliver our tenth consecutive year of record financial performance in 2019
– Jim Reid-Anderson
A later Easter holiday this year than in 2018 has affected Six Flags Q1 results, with the theme park company saying that some 200,000 guest visits will instead be included in Q2 figures.

Its revenue in Q1 2019 was US$128m (€115m, £99.4m) and attendance was 2.2 million guests – both down on Q1 2018 by US$1m (€900,000, £780,000) and 189,000 guests. However, guest spending per capita has risen, driven, says Six Flags, through its success in upselling guests from single day tickets to higher-priced memberships.

Guest spending per capita was, in fact, at an all-time high, at US$48.48 (€43.56, £37.66), as was its Active Pass Base, which includes all members and season pass holders. This increased by 5 per cent year-on-year.

The firm's adjusted EBITDA for the first quarter was a loss of US$32m (€28.76m, £24.86m), which is an increase of US$13m (€11.68m, £10.1m) on Q1 2018, caused primarily by the timing of Easter, as well as incremental lease and other costs associated with the five new US parks that Six Flags acquired in June 2018, and which were not, therefore, part of the business in the first quarter of that year.

Chair, president and CEO Jim Reid-Anderson said he was pleased with the Q1 2019 performance as "strong membership penetration continues to be a key driver of our long-term growth strategy, providing both a platform of increasing recurring revenue at higher prices and the ability to further grow attendance".

He added: "With our record-high Active Pass Base, ongoing price increases, growing dining pass penetration, and both domestic and international expansion opportunities, we are well-positioned to deliver our tenth consecutive year of record financial performance in 2019."

Six Flags Entertainment is the world's largest regional theme park operator and the largest operator of waterparks in North America, with 26 parks across the US, Canada and Mexico.
RELATED STORIES
Six Flags on the hunt for new CEO as Reid-Anderson steps down


Six Flags Entertainment chair, president and CEO James Reid-Anderson has informed the group’s board of his decision to step down and retire by the end of February 2020.
Six Flags reports record results for ninth consecutive year


Thirty-two million guests passed through the gates of a Six Flags theme park in 2018, helping to give the company record revenue figures for the ninth consecutive year.
Rebrand, renovation and new attractions planned for US parks acquired by Six Flags


Three US theme parks acquired from EPR Properties last year are undergoing extensive enhancements and re-branding by new owners Six Flags Entertainment.
MORE NEWS
Efteling to convert steam trains to electric as part of green drive
The Everyday Heritage initiative celebrates and preserves working class histories
Off the back of the success of the first round of Everyday Heritage Grants in 2022, Historic England is funding 56 creative projects that honour the heritage of working-class England.
Universal announces long-awaited details of its Epic Universe, set to open in 2025
Universal has revealed it will be adding new Harry Potter attractions, alongside Super Nintendo and How to Train Your Dragon worlds to its Florida resort.
Heartbreak for Swedish theme park, Liseberg, as fire breaks out
A fire has destroyed part of the new water world, Oceana, at Liseberg in Sweden, and a construction worker has been reported missing.
Museum director apologises after comparing the city of Florence to a sex worker
Museum director Cecilie Hollberg has come under fire for comparing the city to a sex worker due to uncontrolled mass tourism.
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Populous have unveiled their plans for a state-of-the-art e-sports arena, designed to stand as a central landmark in Qiddaya City’s gaming and e-sports district, Saudi Arabia.
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COMPANY PROFILES
Holovis

Holovis is a privately owned company established in 2004 by CEO Stuart Hetherington. [more...]
Clip 'n Climb

Clip ‘n Climb currently offers facility owners and investors more than 40 colourful and unique Cha [more...]
ProSlide Technology, Inc.

A former national ski team racer, ProSlide® CEO Rick Hunter’s goal has been to integrate the smoot [more...]
IAAPA EMEA

IAAPA Expo Europe was established in 2006 and has grown to the largest international conference and [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

08-08 May 2024

Hospitality Design Conference

Hotel Melià , Milano , Italy
10-12 May 2024

Asia Pool & Spa Expo

China Import & Export Fair Complex, Guangzhou, China
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2024

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