USA: Six Flags Presents Half-Year Results Showing Continued Growth
Recently, Texas-based Six Flags Entertainment Corp. has presented its half-year results for all company-related theme and water parks. As in 2017 (see our EAP news from April 26 & February 23rd, 2018), key figures show a continued positive development, which is confirmed by the 2018 second quarter balance sheet.
According to the official report, revenues in Q2 2018 increased by 23 million US Dollar (approx. 19 million Euro) or five percent compared to the same period last year, reaching total revenues of 445 million US Dollar (approx. 380 million Euro). The revenue growth resulted primarily from a three percent increase in attendance to 9.8 million guests in Q2, a two percent increase in guest spending per capita and a nine percent increase in sponsorship, international licensing and accommodations revenue. The operating group’s net income grew 43 percent (22 million US Dollar; more than 18 million Euro) compared to the second quarter 2017. With a total of 170 US Dollar (approx. 145 million Euro), Adjusted EBITDA has increased by four million US Dollar (3.4 million Euro) or three percent. Per capita spending reached an average of some 42.63 US Dollar, a plus of two percent compared to Q2 2017.
In total, in the first half of 2018, Six Flags achieved total revenues of 574 million US Dollar (approx. 490 million Euro) – a ten percent increase compared to the same time period in 2017. The group states that the increase in attendance was driven primarily by the acquisition of five new parks in the US (c.f. EAP news from May 24th, 2018), two new waterparks in Mexico and California, and the impact of 365-day operations at Six Flags Magic Mountain.
In the first term of 2018, Six Flags invested some 91 million US Dollar (over 77 million Euro) in new capital projects and some 23 million US Dollar (19.6 million Euro) to acquire the lease rights to five new parks. (eap)
