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