New park costs offset continuing revenue growth for Six Flags
POSTED 24 Jul 2019 . BY Andy Knaggs
We continue to innovate and deliver on our five-pillar strategy to drive our business – Jim Reid-Anderson
Increased theme park attendances, successful membership upgrade promotions and improved revenues from sponsorship, international agreements and accommodation are among the factors in Six Flags' latest quarterly and half-yearly financial results, both of which have broken company records.
Six Flags, which has 26 parks across the US, Canada and Mexico, recorded increased revenue in Q2 2019 of US$477m (€427m, £381m), up by 7 per cent from the same quarter last year. It said this was the result of an 8 per cent increase in attendance to 10.5 million guests and a 14 per cent increase in sponsorship, international agreements and accommodation revenue. Its net income for the quarter was US$5m (€4.48m, £4m).
Revenue for the first six months of the year was US$605m (€542m, £483m), a 5 per cent increase on the first half of 2018, producing a net income of US$10m (€8.96m, £8m). Increased attendance by 5 per cent (to 12.7m guests) and the 14 per cent rise in sponsorship, international agreement and accommodation revenues were behind these figures.
The increased attendance was primarily realised through Six Flags' six newly acquired parks, as well as a 2 per cent year-on-year increase on its Active Pass Base membership.
Chair Jim Reid-Anderson said he was pleased with the company's momentum and with the execution of Six Flags' premium-priced membership programme in particular.
"I'm confident that 2019 will be the tenth consecutive record year for our shareholders, as we continue to innovate and deliver on our five-pillar strategy to drive our business toward achieving our aspirational goal of US$750m of Modified EBITDA by 2021."
The company's adjusted EBITDA for the first six months of 2019 was US$148m (€132m, £118m) ‒ a decrease of 2 per cent on the prior-year period, which it said was due to incremental costs to lease, rebrand and fund the carrying costs related to its new parks.
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New park costs offset continuing revenue growth for Six Flags
POSTED 24 Jul 2019 . BY Andy Knaggs
We continue to innovate and deliver on our five-pillar strategy to drive our business – Jim Reid-Anderson
Increased theme park attendances, successful membership upgrade promotions and improved revenues from sponsorship, international agreements and accommodation are among the factors in Six Flags' latest quarterly and half-yearly financial results, both of which have broken company records.
Six Flags, which has 26 parks across the US, Canada and Mexico, recorded increased revenue in Q2 2019 of US$477m (€427m, £381m), up by 7 per cent from the same quarter last year. It said this was the result of an 8 per cent increase in attendance to 10.5 million guests and a 14 per cent increase in sponsorship, international agreements and accommodation revenue. Its net income for the quarter was US$5m (€4.48m, £4m).
Revenue for the first six months of the year was US$605m (€542m, £483m), a 5 per cent increase on the first half of 2018, producing a net income of US$10m (€8.96m, £8m). Increased attendance by 5 per cent (to 12.7m guests) and the 14 per cent rise in sponsorship, international agreement and accommodation revenues were behind these figures.
The increased attendance was primarily realised through Six Flags' six newly acquired parks, as well as a 2 per cent year-on-year increase on its Active Pass Base membership.
Chair Jim Reid-Anderson said he was pleased with the company's momentum and with the execution of Six Flags' premium-priced membership programme in particular.
"I'm confident that 2019 will be the tenth consecutive record year for our shareholders, as we continue to innovate and deliver on our five-pillar strategy to drive our business toward achieving our aspirational goal of US$750m of Modified EBITDA by 2021."
The company's adjusted EBITDA for the first six months of 2019 was US$148m (€132m, £118m) ‒ a decrease of 2 per cent on the prior-year period, which it said was due to incremental costs to lease, rebrand and fund the carrying costs related to its new parks.
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Easter timing hits Q1 results for Six Flags POSTED 26 Apr 2019. BY Andy Knaggs A later Easter holiday this year than in 2018 has affected Six Flags Q1 results, with the
theme park company saying that some 200,000 guest visits will instead be included in Q2
figures.
Six Flags on the hunt for new CEO as Reid-Anderson steps down POSTED 08 Mar 2019. BY Luke Cloherty Six Flags Entertainment chair, president and CEO James Reid-Anderson has informed the group’s
board of his decision to step down and retire by the end of February 2020.
Six Flags reports record results for ninth consecutive year POSTED 19 Feb 2019. BY Andy Knaggs Thirty-two million guests passed through the gates of a Six Flags theme park in 2018,
helping to give the company record revenue figures for the ninth consecutive year.
Global luxury hospitality brand, Six Senses, has partnered with longevity healthcare provider,
HUM2N, to launch a clinic at Six Senses London, at The Whiteley.
Premium London health club, KX Chelsea, will imminently unveil its most significant
redevelopment since its launch in 2002 to create an integrated wellness model combining
training, recovery and relaxation.
Researchers in the US have identified an antibody which could greatly reduce the loss of lean
muscle mass in people who are taking weight-loss medications.
Crunch Fitness has announced the launch of Crunch Reform Pilates – its own reformer concept
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As healthcare continues to shift towards prevention, there’s a growing focus on helping
people stay active, independent and feeling good for longer. [more...]
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