Monday, April 19, 2021

Parques Reunidos Announces 7% Increase in Revenue For First Quarter

Parques Reunidos has closed the first quarter of financial year 2016-17 with revenue of 70.5 million Euro. This represents an increase of 7.2% (12.4% like-for-like) compared with the same period of the previous year. In addition, group EBITDA has improved by 45% (+86% like-for-like), closing at -1.9 million Euro in comparison with the -3.2 million for the same period of the previous year.

Commercial actions such as increasing penetration of season passes, that brings more loyal customers and provides higher earnings visibility, and expanding the season through off-season events have contributed to this improvement. A number of campaigns, such as Halloween and Christmas, were performed at the parks during the period. Sales related to these events improved by 14% in comparison with the previous year.

Parques Reunidos benefits from its geographical diversification and global positioning. The company has achieved positive results across all markets during this first quarter. The Spanish portfolio has been a key contributor to the results of the group. Revenue in Spain reached 22.2 million Euro, representing a like-for-like increase of 15.9% in comparison with the same period of the previous year.

Revenue in the rest of Europe grew by 14% like-for-like on the first quarter of the previous year. The United States recorded positive results, with a like-for-like growth of 1.6% and an increase in pre-sales of 25%.

Parques Reunidos continues implementing its growth strategy in 2017, with investment of 33 million Euro in four expansion projects including, among others, Parque Warner (Spain) and Slagharen (Netherlands).

The company is in negotiations to open up to 20 mall entertainment centers, in addition to the five deals already signed. The latter will open their doors over the upcoming two years: four 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 additionally continues its international expansion with the recent opening in Vietnam of “Dragon Park”, the largest theme park in Southeast Asia.

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