Australian Operator Group Ardent Leisure Reports 2023 Full Year Results
Ardent Leisure's Dreamworld & WhiteWater World in Australia.
(eap) The Australian theme park operator Ardent Leisure recently announced its full year results (the year ended 27 June 2023). According to the results, the group’s net profit was 665 million AUD, a significant improvement compared to the net loss of 97 million AUD in the prior year. The background to this positive development is the sale of the US Main Event Entertainment business unit to Dave & Buster’s Entertainment one year ago (completed on 30 June 2022) at a transaction value of 682 million AUD.
For its continuing operations in the Theme Parks and Attractions business in Australia – which includes the Dreamworld theme park, WhiteWater World water park and SkyPoint observation deck – the operator reported FY 2023 revenue of 84 million AUD, a 70 percent increase year-over-year. In FY 2023, the business saw a 39 percent increase in attendance and a 22 percent increase in per capita spending compared to the previous year. EBITDA for the Theme Parks and Attractions business is 4.7 million AUD, positive for the first time since 2016.
Ardent Leisure Chairman, Dr Gary Weiss, said, “[…] The Theme Parks & Attractions business has delivered positive revenue and attendance growth since the second half of FY22, and this trend has continued through FY23. Although the second half of the year has seen some economic challenges emerge, the business nevertheless achieved a 30% increase in revenue in 2H23 despite the business also cycling an unimpeded 2H22. […]”
Greg Yong, Group CEO, said, “This year saw the first operating profit for the Theme Parks & Attractions business since 2016. This is a significant achievement given the very substantial challenges the organization has faced in the intervening years. However, our job is far from done and the entire team is focused on delivering on our purpose, to be Australia’s most loved theme parks and attractions. We have a clear plan on how we will realise our objectives, which is founded upon making strategic choices that put our guests first and create sustainable value for all stakeholders. […]” ■
