Madrid. November 28, 2016.– Parques Reunidos, one of the world’s leading leisure park operators, closed its fiscal year 2016 (from October 2015 to September 2016) with EBITDA of 188.4 million Euro, 2.9% lower than previous year. Revenue reached 584 million Euro, 1.2% less than the previous year. These results were affected by adverse weather conditions in the north-eastern United States and the negative impact on Marineland from the terrorist attack in Nice.
Net income – excluding the costs associated with the IPO and reflecting the new debt structure – amounted to 75.9 million Euro, four times more than the figure for the previous year. Net debt decreased to 540 million Euro, well below the 1,047 million for the previous year. The significant reduction in net debt is explained by the capital raised at IPO and the cash flow generation.
In terms of geographical areas, Parques Reunidos has delivered strong performance in those areas unaffected by external factors, underlining the business growth potential.
More specifically, revenue in Spain grew by 4.7% and EBITDA climbed 10.5%. The introduction of successful commercial policies along with the launch of new attractions and the improvement of the macroeconomic conditions were key drivers of the growth achieved in Spain.
The rest of Europe (excluding Marineland, France), revenue and EBITDA grew by 2.9% and 5.3% respectively. The United States saw a fall of 3.8% in revenue and 8.7% in EBITDA due to abnormally adverse weather in the north-eastern corner of the country, an area which represents 60% of the firm’s income in the US.
Parques Reunidos will maintain its growth strategy, with an investment of 33 million Euro in four expansion projects which will be opened between 2017 and 2018.
The company is in negotiations to open 20 new leisure centres in shopping malls, in addition to the five deals already signed. Over the next two years, four leisure centres will open under the Nickelodeon brand in the malls of Thader (Murcia), Xanadú (Madrid), intu Lakeside (London) and Dolce Vita Tejo (Lisbon), along with an aquarium at Xanadú.
Parques Reunidos has also signed an agreement with Lionsgate, a premier next generation global content leader with top film and television properties such as The Hunger Games and Twilight. This agreement is aimed at developing leisure centres in shopping malls and High Street.
Finally, Bollywood Parks™, one of the two parks operated by the company in Dubai, opened its doors on November 17 and Motiongate™ will open in mid-December. The other two parks the company will manage in Vietnam, the aquatic park Typhoon and the Dragon theme park, will open during the first quarter of 2017.
About Parques Reunidos
Parques Reunidos is one of the world’s leading operators of leisure parks. The company portfolio comprises 62 assets (amusement parks, animal parks, aquatic parks, family entertainment centers and other attractions). Parques Reunidos is present in 14 countries in the Americas, Europe and Asia, receiving approximately 20 million visitors per year. For more information regarding Parques Reunidos, please visit: www.parquesreunidos.com
*Information current at the close of the fiscal year, September 30, 2016
Eurocofin (Communications consultancy for the Parques Reunidos Group)
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Parques Reunidos External Communications Department:
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