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SeaWorld bounce back continues with strong first half results
POSTED 06 Aug 2019 . BY Andy Knaggs
We are confident we will deliver the significantly improved financial results this company is capable of achieving
– Gus Antorcha
SeaWorld has reported further growth in visitor numbers and revenue in its Q2 and half-year results, with total revenue reaching US$626.6m (€559.43m, £514.5m) for the first six months of 2019.

The company said that refined pricing, marketing and communication strategies, a positive reception to new rides, attractions and events, and a favourable calendar shift that moved Easter back later in 2019, were all contributors to its improved attendance results.

In the first six months of the year, 9.8 million guests attended the firm's parks – up by 1.7 per cent on the first half of 2018 – giving it net income of US$15.6m (€13.93m, £12.81m) for the half-year, and Adjusted EBITDA of US$166.1m (€148.32m, £136.37m) – an increase of almost 34 per cent compared to 2018.

The second-quarter results showed improvements on visitor numbers, total revenue, net income and Adjusted EBITDA compared to Q2 2018, with net income, in particular, faring well, although its 132 per cent improvement on 2018 was partly affected by pre-tax expenses associated with separation-related costs and a legal settlement accrual in Q2 2018.

SeaWorld CEO Gus Antorcha has recently revealed further details about its failed China projects in which its majority shareholder Zhonghong Group, which had purchased 21 per cent of SeaWorld's stock, defaulted on loan payments.

Within its half-yearly figures, SeaWorld said it has repurchased around 5.6 million common stock shares during Q2 2019, and on 2 August its board approved an extension to this programme. The company now has US$250m (€223.27m, £205.25m) available for future share repurchases.

The company also revealed that during Q2 2019 it helped rescue more than 780 animals, helping it to surpass 35,000 total rescues over its history.

Antorcha said of the results: "While we are pleased with our second quarter and first six months results, we have the opportunity to do a lot better. We will continue to refine our pricing and marketing strategies to drive revenue, improve operating efficiencies and increase operating margins, and we are confident we will deliver the significantly improved financial results this company is capable of achieving."
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Jobs . News . Products . Magazine
NEWS
SeaWorld bounce back continues with strong first half results
POSTED 06 Aug 2019 . BY Andy Knaggs
We are confident we will deliver the significantly improved financial results this company is capable of achieving
– Gus Antorcha
SeaWorld has reported further growth in visitor numbers and revenue in its Q2 and half-year results, with total revenue reaching US$626.6m (€559.43m, £514.5m) for the first six months of 2019.

The company said that refined pricing, marketing and communication strategies, a positive reception to new rides, attractions and events, and a favourable calendar shift that moved Easter back later in 2019, were all contributors to its improved attendance results.

In the first six months of the year, 9.8 million guests attended the firm's parks – up by 1.7 per cent on the first half of 2018 – giving it net income of US$15.6m (€13.93m, £12.81m) for the half-year, and Adjusted EBITDA of US$166.1m (€148.32m, £136.37m) – an increase of almost 34 per cent compared to 2018.

The second-quarter results showed improvements on visitor numbers, total revenue, net income and Adjusted EBITDA compared to Q2 2018, with net income, in particular, faring well, although its 132 per cent improvement on 2018 was partly affected by pre-tax expenses associated with separation-related costs and a legal settlement accrual in Q2 2018.

SeaWorld CEO Gus Antorcha has recently revealed further details about its failed China projects in which its majority shareholder Zhonghong Group, which had purchased 21 per cent of SeaWorld's stock, defaulted on loan payments.

Within its half-yearly figures, SeaWorld said it has repurchased around 5.6 million common stock shares during Q2 2019, and on 2 August its board approved an extension to this programme. The company now has US$250m (€223.27m, £205.25m) available for future share repurchases.

The company also revealed that during Q2 2019 it helped rescue more than 780 animals, helping it to surpass 35,000 total rescues over its history.

Antorcha said of the results: "While we are pleased with our second quarter and first six months results, we have the opportunity to do a lot better. We will continue to refine our pricing and marketing strategies to drive revenue, improve operating efficiencies and increase operating margins, and we are confident we will deliver the significantly improved financial results this company is capable of achieving."
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COMPANY PROFILE
Polin Waterparks

Polin was founded in Istanbul in 1976. Polin has since grown into a leading company in the waterpa [more...]
+ More profiles  
FEATURED SUPPLIER

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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

Polin Waterparks & Pool Systems - Experience the experience
Have you ever wondered how the fun is created? Polin Waterparks is a global market leader in the design, manufacture and installation of waterparks and water play attractions. Find out more...
More videos:
Simworx - The power to move you… – Simworx
Miko and the Spell of the Stone - Movie Trailer – Red Raion
Trailer Peter Pan - Saving Tinkerbell VR – Red Raion
+ 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  
 


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