Madrid, July 28th, 2017.- Parques Reunidos revenue has reached €254 million in the first nine months of 2017 fiscal year. This represents a +4.0% like-for-like increase in comparison to the same period of the previous year. During this period, EBITDA grew 64% like-for-like, reaching €6.6 million. The number of visitors during the first nine months amounted to 8.6 million (+4.2%).
The company’s strong performance has benefited from the continued penetration of season passes across all regions (+12% growth vs. prior year), the multiple commercial initiatives to extend the season and increase in-park spending, the successful addition of new attractions and technology such as virtual reality coasters, and from cost management to maximize the conversion of new revenue into EBITDA.
By region, Spain has achieved record revenues of €74 million (+10% like-for-like) boosted by a positive macroeconomic environment and the rest of Europe has also grew at a rate of 2.8%. Revenues in USA are 3.3% lower vs. prior year, in a region where the most relevant part of the year (69% of revenues) is yet to come.
Net income amounts to -€58.5 million as of June, due to the business seasonality –high season is concentrated between June and September and the year’s first nine months only represent 41% of total revenues-. Net income as of June represents a 44.8% improvement from the previous year driven by the strong business performance and the substantial reduction of interest expenses due to post IPO capital structure.
This positive performance has benefited from investments in new rides and attractions such as the Star Trek themed coaster at Movie Park (Germany) and the success achieved from the recently launched virtual reality coasters in Italy, USA and Spain. The group is also investing in expansion projects to maximize growth potential of the parks, as in the case of the new lodgings for Slagharen Park (The Netherlands) and the expansion of Warner Beach water park (Spain).
About Parques Reunidos
Parques Reunidos is one of the world’s leading leisure park operators. The company portfolio comprises 61 assets (amusement parks, animal parks, aquatic parks, family entertainment centers and other attractions). Parques Reunidos is present in 14 countries in the Americas, Europe, Middle East and Asia, receiving approximately 20 million visitors per year. For more information regarding Parques Reunidos, please visit: www.parquesreunidos.com
Eurocofin (Grupo Parques Reunidos Consulting firm)
Tel. (+34) 91 308 36 57
Parques Reunidos Department of Corporate Communications:
José María Nogueira
Tel.: (+34) 91 526 97 00