Upbeat 2018 results for Merlin Entertainments provide impetus for further growth | attractionsmanagement.com news
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NEWS
Upbeat 2018 results for Merlin Entertainments provide impetus for further growth
POSTED 01 Mar 2019 . BY Andy Knaggs

We continue to seek to mitigate ongoing external cost pressures
– Nick Varney
European attractions operator Merlin Entertainments has reported growth in a number of areas of its business in 2018, including record visitor numbers.

Some 67 million people visited Merlin’s attractions during the year, up from 66 million in the year to December 2017. The operator reports a profit before tax of £285m (US$377m, €332m), an increase of 4.9 per cent on 2017, with its operating free cash flow increasing by 9.7 per cent to £345m (US$457m, €402m).

Across different sectors of the business, there was an organic revenue increase of 6.4 per cent for Legoland, driven by the opening of more than 640 accommodation rooms, which offset a broadly flat like for like performance. Merlin said that a further 372 rooms are expected to open in 2019 at locations such as Alton Towers and the Magic Hotel at Gardaland. Resort Theme Parks organic revenue grew by 9.1 per cent, through product investment, favourable weather and a strong Halloween, while Midway Attractions saw its organic revenue grow by 1.1 per cent on the year.

The preliminary results drew attention to the potential for continued growth, with continued progress towards opening Legoland New York in 2020, an agreement to open another Legoland park in Korea by 2022, the launch of two new Midway brands in Peppa Pig World and The Bear Grylls Adventure, and a "productivity agenda" which is expected to yield up to £35m (US$46m, €40m) of annual savings by 2022.

Nick Varney, chief executive officer of Merlin Entertainments, commented: "2018 saw improved momentum across most of our businesses, reflecting the strength of our diversified portfolio and geographic spread. Resort Theme Parks benefited from successful product investment such as Wicker Man at Alton Towers; Legoland Parks’ growth was driven by record levels of accommodation openings; and, in addition to the contribution of seven new attractions, Midway saw improving trends in London.

"We continue to seek to mitigate ongoing external cost pressures and expect to deliver up to £35m of annualised savings by 2022 through a number of initiatives. Not only will this help underpin our financial outlook, but it will also better enable our people to deliver what matters most to our guests: fantastic memorable experiences."
RELATED STORIES
  Legoland Korea given green light after funding agreement


Merlin Entertainments is set to open its first Legoland theme park in South Korea, having entered into a partnership agreement that will draw significant local government funding and infrastructure support.
  Merlin reveals plans to grow Australian portfolio with new attractions


A new Legoland Discovery Centre and Dungeons attractions are being planned for Australia and New Zeland by operator Merlin Entertainments, according to divisional director Rob Smith.
  Merlin plans second Legoland park in China


Operator Merlin Entertainments is to bring a second Legoland resort to China – to add to the one under construction in Shanghai – in Sanya, Hainan Province.
  Merlin Entertainments opens first Bear Grylls attraction in Birmingham


Celebrity survivalist Bear Grylls’s new £20m ($26.3m, €22.5m) adventure attraction in Birmingham, England has opened its doors to the public with a promise from Grylls to bring the “spirit of endeavour” to one destination.
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Jobs    News   Products   Magazine
NEWS
Upbeat 2018 results for Merlin Entertainments provide impetus for further growth
POSTED 01 Mar 2019 . BY Andy Knaggs
We continue to seek to mitigate ongoing external cost pressures
– Nick Varney
European attractions operator Merlin Entertainments has reported growth in a number of areas of its business in 2018, including record visitor numbers.

Some 67 million people visited Merlin’s attractions during the year, up from 66 million in the year to December 2017. The operator reports a profit before tax of £285m (US$377m, €332m), an increase of 4.9 per cent on 2017, with its operating free cash flow increasing by 9.7 per cent to £345m (US$457m, €402m).

Across different sectors of the business, there was an organic revenue increase of 6.4 per cent for Legoland, driven by the opening of more than 640 accommodation rooms, which offset a broadly flat like for like performance. Merlin said that a further 372 rooms are expected to open in 2019 at locations such as Alton Towers and the Magic Hotel at Gardaland. Resort Theme Parks organic revenue grew by 9.1 per cent, through product investment, favourable weather and a strong Halloween, while Midway Attractions saw its organic revenue grow by 1.1 per cent on the year.

The preliminary results drew attention to the potential for continued growth, with continued progress towards opening Legoland New York in 2020, an agreement to open another Legoland park in Korea by 2022, the launch of two new Midway brands in Peppa Pig World and The Bear Grylls Adventure, and a "productivity agenda" which is expected to yield up to £35m (US$46m, €40m) of annual savings by 2022.

Nick Varney, chief executive officer of Merlin Entertainments, commented: "2018 saw improved momentum across most of our businesses, reflecting the strength of our diversified portfolio and geographic spread. Resort Theme Parks benefited from successful product investment such as Wicker Man at Alton Towers; Legoland Parks’ growth was driven by record levels of accommodation openings; and, in addition to the contribution of seven new attractions, Midway saw improving trends in London.

"We continue to seek to mitigate ongoing external cost pressures and expect to deliver up to £35m of annualised savings by 2022 through a number of initiatives. Not only will this help underpin our financial outlook, but it will also better enable our people to deliver what matters most to our guests: fantastic memorable experiences."
RELATED STORIES
Legoland Korea given green light after funding agreement


Merlin Entertainments is set to open its first Legoland theme park in South Korea, having entered into a partnership agreement that will draw significant local government funding and infrastructure support.
Merlin reveals plans to grow Australian portfolio with new attractions


A new Legoland Discovery Centre and Dungeons attractions are being planned for Australia and New Zeland by operator Merlin Entertainments, according to divisional director Rob Smith.
Merlin plans second Legoland park in China


Operator Merlin Entertainments is to bring a second Legoland resort to China – to add to the one under construction in Shanghai – in Sanya, Hainan Province.
Merlin Entertainments opens first Bear Grylls attraction in Birmingham


Celebrity survivalist Bear Grylls’s new £20m ($26.3m, €22.5m) adventure attraction in Birmingham, England has opened its doors to the public with a promise from Grylls to bring the “spirit of endeavour” to one destination.
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Liseberg's Grand Curiosa Hotel to open in 2023
Liseberg theme park in Sweden has confirmed the opening date for its new Grand Curiosa hotel.
London's Harry Potter studio tour to open Professor Sprout’s Greenhouse
Warner Bros. Studio Tour London will launch a new area on 1 July, further expanding the popular Harry Potter-themed visitor attraction in Leavesden.
Juneteenth Museum by Bjarke Ingels Group has been designed to inspire spiritual uplift
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Jorvik's digital strategy described as 'leading light' after gaining international audience
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TechnoAlpin is the world leader for snowmaking systems. Our product portfolio includes all different [more...]
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We’re a Yorkshire-based online printer, founded in 2009 by Adam Carnell and James Kinsella. [more...]
IDEATTACK

IDEATTACK is a full-service planning and design company with headquarters in Los Angeles. [more...]
+ More profiles  
VIDEO GALLERY

Proslide Tech Inc - ProSlide's all-in-one waterplay entertainment center
RideHOUSE is an iconic waterplay complex purposefully designed for young kids and families to enjoy. Find out more...
More videos:
Red Raion TV - Opening Event: FICO Eataly World – Red Raion
Red Raion Showreel 2021 – Red Raion
Red Raion TV - Testimonial: Leolandia – Red Raion
+ More videos  

CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

03-04 Sep 2022

HEALING SUMMIT 2022 - The Healing of Everything

Pine Cliff Resort, Portugal
27-29 Sep 2022

International Congress on Thermal Tourism

Ourense, Ourense, Spain
+ More diary  
 


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