USA: SeaWorld Entertainment Records Growth for FY 2018

US operating group SeaWorld Entertainment, Inc. has recently announced the results of its 2018 financial year, which – after decreasing success in 2017 (cf. EAP News from Feb 27th, 2018) – again show growth in both revenue and attendance figures. According to the annual report, a total of 22.6 million guests visited the SeaWorld-related parks in 2018, representing an increase of 1.8 million guests (or 8.6 percent) compared to 2017. Total revenue raised by 8.6 percent to 1.37 billion USD (approx. 1.21 billion EUR), the net income for 2018 was 44.8 million USD (approx. 39.6 million EUR). Adjusted EBITDA increased by 35 percent to 401.3 million USD (approx. 354.4 million EUR), compared to the year prior.

In addition, the SeaWorld group announced to have repurchased 3.65 million shares of common stock at a total cost of approx. 98 million USD (approx. 86.5 million EUR) during the fourth quarter 2018. “We are pleased with our strong fourth quarter and full year financial performance. Throughout the fourth quarter and fiscal year, we have been focused on improving our execution with more effective pricing strategies, enhanced marketing and communications initiatives and the introduction of more compelling new rides, attractions and events. These efforts have led to strong attendance and revenue growth on a quarterly and annual basis […],” explained John Reilly, Chief Operating Officer, SeaWorld Entertainment.

Gustavo Antorcha, who took over as new CEO of SeaWorld Entertainment in mid-February this year (cf. EAP News from Feb 6th, 2019), added, “[…] We remain confident in our ability to achieve our 2020 goal of delivering 475 million USD to 500 million USD of Adjusted EBITDA […].”

Our EAP News f. Oct 18th, 2018 provide you with a comprehensive outlook to upcoming new rides and attractions in the SeaWorld parks – our Park Report in EAP issue 2/19 informs you about the novelties planned for European amusement parks this year. (eap)