Six month figures show Merlin divisions returning to growth | attractionsmanagement.com news
POST YOUR JOB ONLINE
Free ezine/digital edition sign up
Jobs   News   Features   Video    Products   Profiles   Magazine   Handbook   Advertise  
NEWS
Six month figures show Merlin divisions returning to growth
POSTED 01 Aug 2019 . BY Andy Knaggs
We continue to build on our position as a unique, multi-format international operator
– Nick Varney
Theme park operator Merlin Entertainments has announced half-yearly results up to the end of June 2019, showing a return to growth for its Midway Attractions and Resort Theme Parks divisions, and revenue growth of 6.5 per cent compared to the first half of 2018 across the company.

Underlying profits were down compared to the first six months of 2018, however, with an operating profit of £79m (US$95.57m, €86.57m) and profit before tax of £34m (US$41.13m, €37.25m) – a decrease of 10.8 and 21.6 per cent respectively.

Visitor numbers are up by 3 per cent to 30.8 million over the period, with Midway, which includes attractions such as Madame Tussauds, Sea Life and The Eye, growing its revenue by 8.1 per cent, while Resort Theme Parks, whose six parks include Alton Towers, Thorpe Park, Gardaland in Italy and Heide Park (Germany), saw organic revenue grow by 4.1 per cent (an operating loss of £9m (US$10.89m, €9.86m)).

Accommodation revenue grew by 14.5 per cent and now represents 24 per cent of theme park revenue.

Merlin has been busy opening and improving attractions during the period, and has been pursuing a policy of transforming theme parks into destination resorts, leading to 372 new accommodation rooms being built at Legoland Billund Resort, Gardaland Resort and Alton Towers.

Another policy is its Productivity Agenda, through which it hopes to save £35m (US$42.34m, €38.36m) in efficiencies by 2022, mostly through lean practices and rationalised central functions.

Merlin is pushing ahead with plans to open Legoland New York in 2020, though it said the timetable and costs were under pressure, "given the scale and complexity of the project". Construction contracts for the proposed new Legoland park in South Korea have also been awarded, and the park is scheduled to open in 2022.

Merlin proposed to issue no dividends on shares for the period, citing its announcement on 28 June in respect of a "recommended" cash offer for the organisation, made by Berkeley Bidco Limited, a newly-formed joint venture between shareholder and Lego brand owner Kirkbi and Blackstone Core Equity Partners (with CPPIB as a co-investor), which between them controlled Merlin for eight years before its 2013 public listing.

Chief executive officer Nick Varney said the performance was broadly in line with expectations, adding: "With eight new Midway attractions opened in the period, 372 new accommodation rooms, and the ongoing development of new Legoland parks, we continue to build on our position as a unique, multi-format international operator of strongly branded and IP-led location-based entertainment."
RELATED STORIES
Lego buys Merlin in a deal valuing it at US$7.49bn


Global attractions giant, Merlin Entertainments, has been sold to the family behind toy firm Lego in partnership with two other investors.
Upbeat 2018 results for Merlin Entertainments provide impetus for further growth


European attractions operator Merlin Entertainments has reported growth in a number of areas of its business in 2018, including record visitor numbers.
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.
MORE NEWS
Nominees named for European Museum of the Year
The European Museum of the Year 2020 will be won by one of 61 nominated institutions now announced by the European Museum Forum.
Disney Springs set to debut new Cirque du Soleil show in April
A new Cirque du Soleil show is set to open next year at Disney Springs, part of the Walt Disney World Resort in Florida.
JKMM Architects to design new annexe for National Museum of Finland
JKMM Architects have won a competition to create a new annexe for the National Museum of Finland with a disc-shaped, pavilion-like design that connects its interior with the museum's previously underused garden through floor-to-ceiling windows.
'Take action to prevent future theme park deaths', says report following Drayton Manor tragedy
UK theme parks have been advised to take action to prevent future deaths, following the conclusion of an inquest into the accidental death of Evha Jannath at Drayton Manor in 2017.
+ More news   
LATEST JOBS
Operations Manager
BeWILDerwood
Salary: circa £30,000 pa (dependant on experience)
Job location: Cheshire, UK
London Zoo Commercial Manager
Zoological Society of London
Salary: £55,533 - £60,282 pa (dependant on experience)
Job location: London, UK
Visitor Centre Manager
Nene Park
Salary: £25,625 to £28,034 pa (dependent upon experience)
Job location: Peterborough, UK
Front Office Clerk
Gardaland Resort
Salary: Competitive
Job location: Castelnuovo del Garda, VR, Italy
Education Specialist
Sea Life
Salary: Competitive
Job location: East Rutherford, NJ, USA
Attractions Assistant Manager
Legoland
Salary: Competitive
Job location: Goshen, NY, USA
+ More jobs  

COMPANY PROFILES
WhiteWater

WhiteWater was born in 1980 to create places where families unite and make joyful lasting memories [more...]
instantprint

We’re a Yorkshire-based online printer, founded in 2009 by Adam Carnell and James Kinsella. [more...]
Red Raion

Founded in 2014, Red Raion is the CGI studio specialized in media based attractions. [more...]
ProSlide Technology, Inc.

A former national ski team racer, ProSlide® CEO Rick Hunter’s goal has been to integrate the smoot [more...]
+ More profiles  
VIDEO GALLERY

instantprint - Online Print Made Easy!
We're the only online printing company who really gets your business. Find out more...
More videos:
Experience the experience – Polin Waterparks & Pool Systems
Simworx - The power to move you… – Simworx
Trailer Peter Pan - Saving Tinkerbell VR – Red Raion
+ More videos  

CATALOGUE GALLERY
 

+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

14 Jan 2020

BALPPA Annual General Meeting

ExCel, London, United Kingdom
14-16 Jan 2020

EAG International

ExCel London Exhibition Centre, London,
+ More diary  
LATEST ISSUES
+ View Magazine Archive

Attractions Management

2019 issue 4


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2019 issue 3


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2019 issue 2


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2019 issue 1


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management News

11 Dec 2019 issue 145


View on turning pages
Download PDF
View archive
FREE digital subscription
Print subscription

Attractions Handbook

2019


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription
 
ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
 
ATTRACTIONS MANAGEMENT
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
ADVERTISE . CONTACT US

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

©Cybertrek 2019
Jobs   News   Products   Magazine
NEWS
Six month figures show Merlin divisions returning to growth
POSTED 01 Aug 2019 . BY Andy Knaggs
We continue to build on our position as a unique, multi-format international operator
– Nick Varney
Theme park operator Merlin Entertainments has announced half-yearly results up to the end of June 2019, showing a return to growth for its Midway Attractions and Resort Theme Parks divisions, and revenue growth of 6.5 per cent compared to the first half of 2018 across the company.

Underlying profits were down compared to the first six months of 2018, however, with an operating profit of £79m (US$95.57m, €86.57m) and profit before tax of £34m (US$41.13m, €37.25m) – a decrease of 10.8 and 21.6 per cent respectively.

Visitor numbers are up by 3 per cent to 30.8 million over the period, with Midway, which includes attractions such as Madame Tussauds, Sea Life and The Eye, growing its revenue by 8.1 per cent, while Resort Theme Parks, whose six parks include Alton Towers, Thorpe Park, Gardaland in Italy and Heide Park (Germany), saw organic revenue grow by 4.1 per cent (an operating loss of £9m (US$10.89m, €9.86m)).

Accommodation revenue grew by 14.5 per cent and now represents 24 per cent of theme park revenue.

Merlin has been busy opening and improving attractions during the period, and has been pursuing a policy of transforming theme parks into destination resorts, leading to 372 new accommodation rooms being built at Legoland Billund Resort, Gardaland Resort and Alton Towers.

Another policy is its Productivity Agenda, through which it hopes to save £35m (US$42.34m, €38.36m) in efficiencies by 2022, mostly through lean practices and rationalised central functions.

Merlin is pushing ahead with plans to open Legoland New York in 2020, though it said the timetable and costs were under pressure, "given the scale and complexity of the project". Construction contracts for the proposed new Legoland park in South Korea have also been awarded, and the park is scheduled to open in 2022.

Merlin proposed to issue no dividends on shares for the period, citing its announcement on 28 June in respect of a "recommended" cash offer for the organisation, made by Berkeley Bidco Limited, a newly-formed joint venture between shareholder and Lego brand owner Kirkbi and Blackstone Core Equity Partners (with CPPIB as a co-investor), which between them controlled Merlin for eight years before its 2013 public listing.

Chief executive officer Nick Varney said the performance was broadly in line with expectations, adding: "With eight new Midway attractions opened in the period, 372 new accommodation rooms, and the ongoing development of new Legoland parks, we continue to build on our position as a unique, multi-format international operator of strongly branded and IP-led location-based entertainment."
RELATED STORIES
Lego buys Merlin in a deal valuing it at US$7.49bn


Global attractions giant, Merlin Entertainments, has been sold to the family behind toy firm Lego in partnership with two other investors.
Upbeat 2018 results for Merlin Entertainments provide impetus for further growth


European attractions operator Merlin Entertainments has reported growth in a number of areas of its business in 2018, including record visitor numbers.
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.
MORE NEWS
Nominees named for European Museum of the Year
The European Museum of the Year 2020 will be won by one of 61 nominated institutions now announced by the European Museum Forum.
Disney Springs set to debut new Cirque du Soleil show in April
A new Cirque du Soleil show is set to open next year at Disney Springs, part of the Walt Disney World Resort in Florida.
JKMM Architects to design new annexe for National Museum of Finland
JKMM Architects have won a competition to create a new annexe for the National Museum of Finland with a disc-shaped, pavilion-like design that connects its interior with the museum's previously underused garden through floor-to-ceiling windows.
'Take action to prevent future theme park deaths', says report following Drayton Manor tragedy
UK theme parks have been advised to take action to prevent future deaths, following the conclusion of an inquest into the accidental death of Evha Jannath at Drayton Manor in 2017.
Discovery Destinations announces Holovis partnership
Discovery Destinations, a leader in real-world entertainment, has announced a new strategic partnership with UK-based immersive experience design firm Holovis
Former Sony MD Ian Hetherington joins Immotion Group
Ian Hetherington, former MD of Sony Computer Entertainment Europe, has joined Immotion Group, a UK-based VR firm, as chair of Immotion Studios, the company's VR experience creation arm.
+ More news   
 
COMPANY PROFILES
WhiteWater

WhiteWater was born in 1980 to create places where families unite and make joyful lasting memories [more...]
instantprint

We’re a Yorkshire-based online printer, founded in 2009 by Adam Carnell and James Kinsella. [more...]
Red Raion

Founded in 2014, Red Raion is the CGI studio specialized in media based attractions. [more...]
ProSlide Technology, Inc.

A former national ski team racer, ProSlide® CEO Rick Hunter’s goal has been to integrate the smoot [more...]
+ More profiles  
VIDEO GALLERY

instantprint - Online Print Made Easy!
We're the only online printing company who really gets your business. Find out more...
More videos:
Experience the experience – Polin Waterparks & Pool Systems
Simworx - The power to move you… – Simworx
Trailer Peter Pan - Saving Tinkerbell VR – Red Raion
+ More videos  

CATALOGUE GALLERY
 

+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

14 Jan 2020

BALPPA Annual General Meeting

ExCel, London, United Kingdom
14-16 Jan 2020

EAG International

ExCel London Exhibition Centre, London,
+ More diary  
 


ADVERTISE . CONTACT US

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

©Cybertrek 2019

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS