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NEWS
Six Flags reports record results for ninth consecutive year
POSTED 19 Feb 2019 . BY Andy Knaggs

Our exceptional operating performance in Q4 demonstrates the strength of our pricing power
– Jim Reid-Anderson
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.

The theme park operator reported an increase of US$105m (€92.79m, £81.27m) in revenue for the year, to reach US$1.5bn (€1.33, £1.16bn). It said the revenue growth was primarily driven by a 5 per cent increase in attendance, a 2 per cent increase in per capita spending, and a 7 per cent increase in sponsorship, international agreements and accommodations revenue. The per capita increase was assisted by changes in pricing for admissions and sales of memberships with premium tiers, said Six Flags.

Six Flags' expansion programme, which saw five parks in the domestic market acquired in 2018, also continued strongly. Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the year was US$554m (€490m, £429m) – up 7 per cent on 2017.

In Q4 2018, revenue grew by US$13m (€11.49m, £10.06m) to US$270m (€239m, £209m), a 5 per cent improvement on the same quarter 2017, while the guest spending per capita for the quarter increased by US$2.35 (€2.08, £1.82), most of which was realised through increased admissions per capita (US$1.74) rather than in-park spending per capita (US$0.61).

There was an unfavourable revenue adjustment of US$15m (€13.26m, £11.61m) in Q4 2018, as a result of delays in the expected opening dates of some of Six Flags’ parks in China, caused, it said, by “a challenging macroeconomic environment”.

Speaking of his pride upon recording a ninth consecutive year of record results, chair, president and chief executive officer Jim Reid-Anderson commented: "Our exceptional operating performance in the fourth quarter demonstrates the strength of our pricing power, membership strategy, and in-park spending programmes, all of which, together with our domestic and international park expansion initiatives, will provide a strong platform for growth for many years to come."
RELATED STORIES
  Trouble for Six Flags as multiple international projects face delay


Six flags chief Jim Reid-Anderson has revealed that changes in government are stalling the operator's Chinese projects, while there are "no assurances" as to the outcome of the operator's on- hold Dubai development.
  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.
  Six Flags Dubai on hold as DXB sees finance options evaporate


DXB Entertainments – the owner of Dubai Parks and Resorts – has slammed the brakes on its under- development Six Flags-branded theme park in Dubai, citing withdrawal of financing as the reason behind the move.
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Jobs    News   Products   Magazine   Subscribe
NEWS
Six Flags reports record results for ninth consecutive year
POSTED 19 Feb 2019 . BY Andy Knaggs
Our exceptional operating performance in Q4 demonstrates the strength of our pricing power
– Jim Reid-Anderson
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.

The theme park operator reported an increase of US$105m (€92.79m, £81.27m) in revenue for the year, to reach US$1.5bn (€1.33, £1.16bn). It said the revenue growth was primarily driven by a 5 per cent increase in attendance, a 2 per cent increase in per capita spending, and a 7 per cent increase in sponsorship, international agreements and accommodations revenue. The per capita increase was assisted by changes in pricing for admissions and sales of memberships with premium tiers, said Six Flags.

Six Flags' expansion programme, which saw five parks in the domestic market acquired in 2018, also continued strongly. Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the year was US$554m (€490m, £429m) – up 7 per cent on 2017.

In Q4 2018, revenue grew by US$13m (€11.49m, £10.06m) to US$270m (€239m, £209m), a 5 per cent improvement on the same quarter 2017, while the guest spending per capita for the quarter increased by US$2.35 (€2.08, £1.82), most of which was realised through increased admissions per capita (US$1.74) rather than in-park spending per capita (US$0.61).

There was an unfavourable revenue adjustment of US$15m (€13.26m, £11.61m) in Q4 2018, as a result of delays in the expected opening dates of some of Six Flags’ parks in China, caused, it said, by “a challenging macroeconomic environment”.

Speaking of his pride upon recording a ninth consecutive year of record results, chair, president and chief executive officer Jim Reid-Anderson commented: "Our exceptional operating performance in the fourth quarter demonstrates the strength of our pricing power, membership strategy, and in-park spending programmes, all of which, together with our domestic and international park expansion initiatives, will provide a strong platform for growth for many years to come."
RELATED STORIES
Trouble for Six Flags as multiple international projects face delay


Six flags chief Jim Reid-Anderson has revealed that changes in government are stalling the operator's Chinese projects, while there are "no assurances" as to the outcome of the operator's on- hold Dubai development.
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.
Six Flags Dubai on hold as DXB sees finance options evaporate


DXB Entertainments – the owner of Dubai Parks and Resorts – has slammed the brakes on its under- development Six Flags-branded theme park in Dubai, citing withdrawal of financing as the reason behind the move.
MORE NEWS
Excurio and The Muséum National d'Histoire Naturelle create evolutionary VR experience
Virtual reality creators Excurio has teamed up with experts from The Muséum National d'Histoire Naturelle to create Life Chronicles London, a free-roaming VR experience.
The Park Playground opens first immersive VR franchise in Porto
The Park Playground, has opened its first Immersive VR franchise in Porto, Portugal.
Bridgerton Season three – most Instagrammed locations
Following the release of season three Of Bridgerton, a study reveals its ten most Instagrammable filming locations.
Getty Museum refuses to surrender prized Greek bronze to Italy
The European Court of Human Rights has recognised Italy’s claim to a prized Greek antiquity.
Merlin unveils record-breaking Hyperia coaster at Thorpe Park
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Second Chaos Karts launches in Dubai
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COMPANY PROFILES
Polin Waterparks

Polin was founded in Istanbul in 1976. Polin has since grown into a leading company in the waterpa [more...]
Simworx Ltd

The company was initially established in 1997. Terry Monkton and Andrew Roberts are the key stakeh [more...]
Taylor Made Designs

Taylor Made Designs (TMD) has been supplying the Attractions, Holiday Park, Zoos and Theme Park mark [more...]
IDEATTACK

IDEATTACK is a full-service planning and design company with headquarters in Los Angeles. [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

03-05 Sep 2024

ASEAN Patio Pool Spa Expo

IMPACT Exhibition Center, Bangkok, Thailand
03-08 Sep 2024

Spa Peeps International Corporate Cruise

Cruise London, Amsterdam, Zeebrugge, United States
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2024

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