UK: Merlin Entertainments Announces 2018 FY Preliminary Results

British Merlin Entertainments operating group has recently announced the preliminary results of its 2018 financial year, showing an organic revenue growth of 5.2 percent. For the year ended December 29th, 2018 Merlin recorded revenues of 1.65 billion GBP (approx. 1.93 billion EUR; results without the adoption of IFRS 15 effective since January 1st, 2018) which represents a reported growth of 3.7 percent compared to 2017 (with revenues of 1.59 billion GBP/1.86 billion EUR).

A total of 67 million guests visited Merlin’s related leisure and entertainment attractions around the world in 2018. The underlying EBITDA amounts to 494 million GBP (approx. 577 million EUR) for the 2018 FY, a plus of 4.3 percent compared to 2017. Dividends per share increased by 8.1 percent to 8 GBP (9.34 EUR), the operating free cash flow totals 345 million GBP (403 million EUR), an increase of 9.7 percent. Accommodation offerings of Legoland Parks & Resorts represent an important part of Merlin’s resort theme parks division, with a growth rate of 28 percent on a constant currency level in 2018.

For its midway attractions division, the operating group recorded an organic revenue growth of 1.1 percent. In 2018, the existing portfolio has been expanded by the new midway brands of “Peppa Pig World of Play” (cf. EAP 2/19 & EAP News from Feb 20th, 2019) and “The Bear Grylls Adventure” (cf. EAP 2/19). In addition, – in order to generate further growth – Merlin has recently announced the disposal of its Australian ski resorts in Hotham and Falls Creek to Vail Resorts Inc. (cf. EAP News from Feb 23rd, 2019).

Read more about the FY 2018 results of European leisure parks in our Park Report (EAP 2/19), which also provides you with an outlook to the novelties announced for the upcoming season. (eap)