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26 Jul 2017
Six Flags reveals record revenues
BY
Tom Anstey
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Six Flags attendance grew year-on-year by 1 per cent
Six Flags has enjoyed a successful second quarter, with the operator recording record revenues for the period with numbers increasing by US$15m (€12.9m, £11.5m) year-on-year. The 4 per cent increase, which saw revenue increase to US$422m (€363m, £324.3m) was driven primarily by an attendance boost of 5 per cent with 9.5 million people visiting Six Flags parks in the quarter, though this was offset by a lower average guest spend, which was down two per cent to US$41.76 (€35.92, £32.08).
An 18 per cent increase in sponsorship and international licensing also played a part in the revenue increase.
Using adjusted figures based on the shift of the Easter break that affected the first quarter, attendance grew year-on-year by 1 per cent, with earnings before interest, taxes, depreciation, and amortisation (EBITDA) increasing by US$11m (€9.5m, £8.45m) or 7 per cent to US$166m (€142.8m, £127.6m).
For the first half of the year, Six Flags recorded a slight decline in revenue to US$521.9m (€448.9m, £401m) from US$522.5m (€449.5m, £401.5m). Attendance over the six month period increased by 2 per cent to 11.4 million visitors, with per capita spending reduced to US$42.10 (€36.21, £32.35).
Also in the first half of the year, Six Flags invested US$97m (€83.4m, £74.5m) in new capital, paid US$113m (€97.2m, £86.8m) in dividends and repurchased US$379m (€326m, £291.2m) of its common stock.
The first half of the year has been significant for the operator, which this month reappointed Jim-Reid Anderson as its new president and CEO following the retirement of John Duffey.
Six Flags also launched its new waterpark in Oaxtepec, Mexico, and entered into an agreement with EPR Properties to assume control of Waterworld California – the operator’s 20th property worldwide.
“We are the leading regional theme park company in the world operating in a very attractive industry with significant opportunity for organic growth,” said Reid-Anderson.
“We have the best team in the theme park space and I am confident that 2017 will be another record year for our shareholders as we deliver higher ticket yields, improved in-park revenue, attractive international licensing deals, new waterparks, and strong execution.”
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