Six Flags breaks more records as operator reports first-half revenues
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Six Flags continues to top itself, after recording record revenues for the first half of the year, as the operator closes in on a ninth consecutive year of record financial performance.
Revenues for the second quarter for Six Flags increased 5 per cent to US$445m (€380m, £338m) – a US$23m (€19.6m, £17.5m) increase. Six Flags attributed this growth to a 3 per cent attendance rise, a 2 per cent increase in guest spending and a 9 percent increase in sponsorship, international licensing and accommodations revenue. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose by 3 per cent to US$170m (€145.3m, £129.1m).
"I am very pleased with our continued strong momentum and execution in the quarter as we expanded our global footprint and successfully rolled-out our new, premium-tiered membership programme," said Six Flags chair, president and CEO, Jim Reid-Anderson.
"I am confident 2018 will be another record year for our shareholders as we continue to innovate and execute on our strategy to achieve our goal of US$750m (€640.9m, £570.7m) EBITDA by 2020."
For the first half of the year, revenues totalled US$574m (€490.5m, £436m) – up 10 per cent on the previous year. This was driven, says Six Flags, by a 7 per cent rise in visitor numbers, as well as a 3 per cent increase in guest spend and a 12 per cent increase in sponsorship, international licensing and accommodations revenue. EBITDA was up 16 per cent for the half year, totalling US$151m (€129m, £114.7m).
Six Flags announced its intentions earlier this year to increase its attractions portfolio in the US, with the operator acquiring five new parks in May. Six Flags has also upped its game in China this year, with 11 theme park projects currently under development in the country.
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