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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."
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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."
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Carles Enrich Studio's timber scaffolding reactivates 13th-century lookout tower
Carles Enrich Studio have created a timber frame for the ruin of a 13th-century tower in Catalonia, Spain, that not only helps to support it, but that also provides a means for visitors to explore the heritage structure.
Educational museum for infamous Sing Sing prison gains development funding
A proposed museum based on the site of New York's notorious Sing Sing Correctional Facility has received key funding grants from corporate and national institutions, bringing its non- state funding to more than US$1m (€920,000, £770,000).
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COMPANY PROFILES
iPlayCo

iPlayCo was established in 1999. iPlayCo Corporation Ltd is the owner and key stakeholder. [more...]
Red Raion

Founded in 2014, Red Raion is the CGI studio specialized in media based attractions. [more...]
Sally Corporation

Our services include: Dark ride design & build; Redevelopment of existing attractions; High-quality [more...]
IDEATTACK

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

Healthy appetite for investment at EAG International 2020
A buoyant EAG International has welcomed in the new decade as a well-rounded event with high levels of optimism and positivity on the show floor. [more...]
VIDEO GALLERY

Red Raion - Trailer Peter Pan - Saving Tinkerbell VR
Red Raion is the CGI studio specialized in media based attraction. Find out more...
More videos:
Red Raion Showreel 2019 – Red Raion
Experience the experience – Polin Waterparks & Pool Systems
Jurassic War - Immersive tunnel movie trailer – Red Raion
+ More videos  

CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

23-25 Mar 2020

MuseumNext Europe

Edinburgh Festival Hub, Edinburgh,
23-25 Mar 2020

Dubai Entertainment Amusement and Leisure Exhibition (DEAL)

Dubai World Trade Centre, Dubai, United Arab Emirates
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2020

ABOUT LEISURE MEDIA
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