Latest News

Back to Latest News back

 

Easter visitation performance drives Ardent Leisure recovery

Easter visitation performance drives Ardent Leisure recovery
June 22, 2023

Advising that it has enjoyed its “busiest Easter in several years”, theme park operator Ardent Leisure has advised of strong income growth rates for the calendar year.

The owner of Gold Coast attractions Dreamworld, WhiteWater World and Skypoint reported significant increase in attendances and per capita revenues in the March quarter compared to the prior corresponding period, with revenue up 47.6% at $22.1 million.

April saw Ardent generate sales of $8.1 million, representing an increase of 5.5% year-on-year. While lower than the annual inflation rate of 7% as of the March quarter, it aligns with the increase in retail turnover nationally for the same period.

This follows a successful half year to December, with 136.5% year-on-year growth in revenue to $43.7 million - a figure nominally higher than the $38.7 million recorded for the same six months pre-COVID, although up only marginally when considering inflation.

However, both periods have to be compared with times 12 months earlier that were impacted by pandemic restrictions.

Ardent Leisure's Theme Parks & Attractions business reported EBITDA of $4.3 million excluding specific items for the December half, versus a $4.2 million EBITDA loss for the same period in 2019, and the group notes that earnings momentum has continued.

In a statement the company advised “despite emerging cost pressures, the business has continued to deliver a positive EBITDA result (excluding Specific Items) for both the third quarter and April 2023, but at more subdued levels compared with the first half of the year. The group’s corporate costs have remained consistent with 1H23 levels.

"The Group is of the view that the current economic headwinds are episodic and not emblematic of the leisure industry. Further, while international visitation to date remains low compared to historical levels, this is gradually recovering and presents upside potential for both Dreamworld/WhiteWater World and SkyPoint when these markets return to historical levels.

"Management remains highly focussed on effective and disciplined management of all expenses, noting that there are certain safety and engineering priorities which cannot be compromised."

Ardent is currently reinvesting in the business and "remains well capitalised to fund the ongoing recovery", focusing on delivering its recently announced pipeline of new attractions.

At Dreamworld this includes a new Wave Swinger, a new childrens' area with branding from Play School, Bananas in Pyjamas and The Wiggles, a vintage cars adventure area and the rollercoaster Jungle Rush, as well as a refurbishment of its landmark Giant Drop ride.

Image credit Dreamworld.

Related Articles

3rd March 2023 - Surge in Dreamworld visitation contributes to Ardent Leisure revenue rise

10th January 2023 - Ardent Leisure accused of safety failures during maintenance of Tailspin ride at Dreamworld

22nd December 2022 - Ardent Leisure to pay $2.15 million to family of woman who died on Dreamworld ride

25th November 2022 - Ardent Leisure unveils plans for $60 million in upgrades at Dreamworld

20th September 2022 - Ardent Leisure secures Major Amusement Park Licences from regulator

25th August 2022 - Ardent Leisure reports rising revenue and Greg Yong’s promotion to group Chief Executive

2nd August 2022 - Queensland Premier calls on Dreamworld owners to spend allocated funds on koala conservation

27th July 2022 - Ardent Leisure allowed to use $2.7 million in koala research funding for new Dreamworld rollercoaster

19th July 2022 - Ardent Leisure in a ‘position to capitalise’ on recovering tourism market

7th April 2022 - Ardent Leisure to sell USA-based Main Event division and focus on Australian attractions

28th February 2022 - Ardent Leisure shows doubling of revenue in the first six months of 2021/22 financial year

26th December 2021 - Ardent Leisure drops plans for Dreamworld hotel

15th December 2021 - Dreamworld celebrates 40th anniversary with opening of its new Steel Taipan rollercoaster

3rd December 2021 - Dreamworld reveals 15th December opening for its new Steel Taipan rollercoaster

2nd September 2021 - Ardent Leisure Chairman says group is well positioned for future growth

1st September 2021 - Ardent Leisure set for seasonal reopening of Gold Coast’s WhiteWater World

17th August 2021 - With new Steel Taipan rollercoaster approaching completion Dreamworld retires its BuzzSaw ride

21st April 2021 - Ardent Leisure promotes Greg Yong as Theme Park Division Chief Executive

29th January 2021 - Dreamworld welcomes ‘positive’ guest feedback as summer sees rollercoaster relaunch


Support our industry news service
We hope that you value the news that we publish so while you're here can we ask for your support?

As an independent publisher, we need reader support for our industry news gathering so ask that - if you don't already do so - you back us by subscribing to the printed Australasian Leisure Management magazine and/or our online news.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

Summit Fitness

Summit Fitness Equipment is now part of NovoFit - see www.ausleisure.com.au/suppliers/novofit/

read more

Fitness / Recreation / Technology / Wellness

 
 

24/7 Software

The world's greatest properties run on 24/7 Software Whether at commercial properties, corporate facilities, sports arenas, or public entertainment venues, we're proud to lead the way in…

read more

Entertainment / Security / Sport / Technology / Venues

 
 

Enta Australasia

As of the 1st July 2018, Enta Australasia Pty Ltd/Best Union has been rebranded as VIVATICKET Pty Ltd.  Click here to view the VIVATICKET Pty Ltd listing.  19th July 2018 - ENTA…

read more

Technology / Ticketing / Venues

 
 

Hadley/Series Australia Pty Ltd

Hadley Australia and Series Australia Pty Ltd are the leading quality theatre chair manufacturers in the southern hemisphere. The businesses work closely with architects, interior designers and…

read more

Arts / Culture / Design / Entertainment / Venues

 
 

Again Faster

ABOUT Again Faster is a Brisbane based, Australian owned supplier of strength and conditioning and functional fitness equipment. With nearly 10 years experience in the Australian market, we are…

read more

Fitness / Recreation

 
 

Advanced Aquarium Technologies

Advanced Aquarium Technologies (AAT) is a world leader in the design, construction, and operation of landmark public aquariums. Led from Queensland, AAT has delivered aquarium projects in over 25…

read more

Attractions / Consultants / Design / Parks / Zoos

 
 

Gladstone MRM

Gladstone Health & Leisure (Gladstone MRM Pty Ltd Australia) is a leading supplier of leisure management and fitness software and is endorsed by leading health and fitness professionals and…

read more

Access / Billing / Fitness / Technology / Venues

 
 

Riedel Communications Australia Pty Ltd

We live for media production and global events, providing real-time networks for video, audio, data and communications.

read more

Entertainment / Events / Technology / Venues

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business