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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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New York flagship announced for Museum of Ice Cream as operator plans international expansion
The Museum of Ice Cream (MOIC) has announced plans to open several new locations, both in the US and internationally over the next 18 months, starting with its first New York City flagship in Q4 2019.
New visitor centre to be developed at Auschwitz-Birkenau following US$5.5m donation
A donation of US$5.5m (€4.96m, £4.55m) will go towards the development of a new visitor services centre at the Auschwitz-Birkenau Memorial – the museum located on the site of the World War Two Nazi concentration camp in Poland.
Kings Dominion unveils new water attractions for 2020
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COMPANY PROFILE
Alterface

Alterface’s Creative Division team is seasoned in concept and ride development, as well as storyte [more...]
+ More profiles  
FEATURED SUPPLIER

EAS rebrands to IAAPA Expo Europe ahead of 2019 show in Paris
The Euro Attractions Show has been rebranded as the IAAPA Expo Europe ahead of this year's event at the Paris Expo Porte de Versailles exhibition centre. [more...]
VIDEO GALLERY

Red Raion Showreel 2018
Red Raion is the CGI studio specialized in media based attraction. Find out more...
More videos:
Simworx - The power to move you… – Simworx
Introducing AnimaChat! – Animalive
Experience the experience – Polin Waterparks & Pool Systems
+ More videos  

CATALOGUE GALLERY
 

+ More catalogues  
DIRECTORY
+ More directory  
DIARY

16-19 Sep 2019

IAAPA Expo Europe 2019

Paris Expo Porte de Versailles, Paris, France
21-24 Sep 2019

ASTC 2019 Annual Conference

Ontario Science Centre, Toronto, Canada
+ More diary  
 


ADVERTISE . CONTACT US

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Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2019

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
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