Information

My Account

Theme Park Supplier's News of the Week #12 Bolliger Mabillard, MAURER Rides, ETF Ride Systems, Lo-...

World Waterpark Association Success for WWA's 33th Symposium and Trade Show

Hong Kong Disneyland to introdoce Iron Man Experience First major Marvel attraction planned in 2016

Theme Park Supplier's News of the Week #11 Zamperla, Simworx, Electrosonic, Vortex

Theme Park Industry News Roundup #6 Liseber, Universal Parks and Resorts, IAAPA, Herschend ...

Premier Rides wins €8 million contract with Plopsa Gr... New launch coaster to open at Holiday Park in 2014

Theme Park Industry News Roundup #5 Tokyo Disney Resort, Merlin, European Star Awards

Record anniversary edition for Euro Attractions Show More than 8,500 attendees on a record exhibit floor

Top Stories
Supplier's News
WWA
Hong Kong Disneyland
Supplier's News
Industry News
Premier Rides
Industry News
Euro Attractions Show

Latest Industry News

CORPORATEPublished on January 28, 2014 NewsParcs to take an extended break

EVENTPublished on November 10, 2013 IAAPA Attractions Expo 2013 debuts next week in Orlando

CORPORATEPublished on November 10, 2013 Difficult season for Compagnie des Alpes' amusement parks

NEWPublished on October 21, 2013 Theme Park Supplier's News of the Week #12

EVENTPublished on October 21, 2013 Success for the 33th symposium and trade show of the World Waterpark...

NEWPublished on October 13, 2013 Disney to introduce first major Marvel attraction at Hong Kong...

NEWPublished on October 13, 2013 Theme Park Supplier's News of the Week #11

NEWPublished on October 13, 2013 Theme Park Industry News Roundup – Issue #6

NEWPublished on October 6, 2013 Premier Rides wins €8 million contract to build a launch coaster...

581 articles published » See all articles

Welcome!

NewsParcs is an online trade publication dedicated to theme park industry professionals worldwide.

Since 1998, we work in direct contact with manufacturers, suppliers, consultants, owners and operators to publish only reliable and relevant information.

NewsParcs, connecting the theme park industry!

Supplier's News

NewsParcs will do a full coverage of the IAAPA Attractions Expo 2013 in Orlando to have a look at the latest trends and developments of the global theme park industry.

Follow us on Twitter (@NewsParcs) from November 19 to 22 with the hashtag #IAAPA

Six Flags Delivers Record Full Year 2011 Adjusted

EBITDA of $350 Million

Update : 20/02/12 - 20h02 Published by François Mayné the 17 February 2012, Corporate.

Six Flags Entertainment Corporation (NYSE: SIX) announced that Adjusted EBITDA reached a record $350 million (about €266 million) for full year 2011, an improvement of $55 million or 19 percent over 2010, primarily as a result of higher guest spending and lower cash operating costs.

Full year 2011 Modified EBITDA margin, the most directly comparable measure of the parks' performance, reached an industry high of 37.4 percent - also a record high for the company- and represented a 430 basis point improvement over 2010.

Revenue for the full year 2011 increased $37 million to $1.0 billion (about €759.5 million), representing a 4 percent gain primarily due to a $44 million or 5 percent increase in guest spending, offset by a collective $6 million decline in sponsorship, international licensing, management fees and accommodations revenue.

"With all-time-high guest satisfaction ratings and record financial performance, our team has delivered an exceptional year for guests and shareholders alike," said Jim Reid-Anderson, Chairman, President and CEO. "I am particularly pleased that we achieved our aspirational Adjusted EBITDA target of $350 million in 2011. Our success is directly attributable to a focused business strategy, quality execution and the dedication of our employees—our company's most important asset."

Fourth quarter 2011 Adjusted EBITDA was $35 million, a $13 million or 60 percent improvement over prior year driven by strong revenue growth. Revenue of $138 million increased $16 million or 13 percent. Admissions revenue per capita declined $0.36 or 2 percent to $19.21 due to strong season pass attendance. In-park revenue per capita of $15.61 increased $0.07 while total guest spending per capita of $34.82 declined $0.29 due to the high season pass attendance mix. Guest attendance increased 16 percent to 3.6 million guests. In the quarter, total cash expenses increased $3 million or 3 percent primarily due to higher labor and marketing costs associated with the highly successful expanded Fright Fest and Holiday in the Park offerings.

For the full year 2011, admissions revenue per capita of $22.30 increased $1.24 or 6 percent over 2010 while in-park revenue per capita of $17.03 increased $0.54 or 3 percent. Guest spending per capita for 2011 was $39.33, compared to $37.55 for full year 2010, representing an increase of $1.78 or 5 percent. Full year attendance was 24.3 million guests. Cash expenses decreased $22 million or 3 percent in 2011 primarily due to lower costs associated with marketing, compensation and utility costs.

Free Cash Flow was $193 million for full year 2011, an increase of $65 million or 51 percent. Capital expenditures, net of property insurance recoveries, were $91 million for full year 2011.

Net Debt as of December 31, 2011 was $726 million, compared to $784 million as of December 31, 2010, a reduction of $58 million. In the fourth quarter the company repurchased $18.5 million or approximately 452,000 shares of its stock. During 2011 the company repurchased $60 million of its common stock, paid a $30 million arbitration settlement, incurred $25 million of debt refinancing fees and issued $10 million of dividends. The company had $231 million of cash on hand as of December 31, 2011 and a net debt to Adjusted EBITDA ratio of 2.1 times as compared to 2.7 times as of December 31, 2010.

Recently Announced Events

In December 2011 the company entered into a new $1.135 billion credit facility that, assuming current LIBOR rates, reduces annual cash interest costs by more than $13 million, provides the company incremental financial flexibility, and extends maturities to 2018.

In January 2012 the company's Board of Directors authorized a four-year, $250 million share repurchase plan.

In February 2012 the company increased its quarterly dividend from $0.06 to $0.60 per common share, representing an annual dividend of $2.40 per share.

- - -

Written by François Mayné

François Mayné Publishing Director » Contact Us
» all articles

Bolliger & Mabillard
(13 articles found)

Theme Park Supplier's News of the Week #12 read more

Our Theme Park Supplier's News of the Week is a round-up of the latest news relative to companies supplying the theme park industry around the world. This weekly report covers topics such as corporate announcements, financial ...

NEW | Bolliger & Mabillard - Published on October 21, 2013

Euro Attractions Show 2013 Wrap-Up: Exhibitor's Quotes and Impressions read more

The Euro Attractions Show 2013 ended on a very positive note last week after three intensive days of business meetings and networking events...

FEATURE | Bolliger & Mabillard - Published on September 29, 2013

Bolliger & Mabillard to supply world's longest inverted roller coaster at Kings Island in 2014 read more

Midwest USA largest amusement park Kings Island, part of the Cedar Fair Entertainment Company, has announced earlier this month its plans to...

NEW | Bolliger & Mabillard - Published on August 18, 2013

How Bolliger & Mabillard established its strong reputation : interview with director Walter Bolliger read more

Since 1988 when the two Swiss engineers Walter Bolliger and Claude Mabillard chose to leave Giovanola in order to found their own consulting...

FEATURE | Bolliger & Mabillard - Published on February 6, 2013

Wild Eagle : a Bolliger & Mabillard Wing Coaster as the culmination of Dollywood's expansion read more

Last June, NewsParcs attended the 35th edition of Coaster Con, the main annual event of the American Coaster Enthusiasts (ACE), the U.S. association...

NEW | Bolliger & Mabillard - Published on September 10, 2012

Cedar Point to open world's largest and highest Wing Coaster in 2013 : GateKeeper read more

Cedar Point, the largest seasonal amusement park of Cedar Fair group located in Sandusky, Ohio, announced a few days ago it would invest for...

NEW | Bolliger & Mabillard - Published on August 18, 2012

X-Flight : A new Wing Coaster from Bolliger & Mabillard takes flight at Six Flags Great America read more

NewsParcs was invited last May 10 to attend the media event of X-Flight at Six Flags Great America in the suburbs of Chicago (Illinois, USA)....

NEW | Bolliger & Mabillard - Published on June 15, 2012

PortAventura opens Europe's tallest roller coaster Shambhala read more

The sun of Catalonia was of the party last May 12 at PortAventura in Spain for the grand opening of what is now the Europe's tallest roller coaster...

FEATURE | Bolliger & Mabillard - Published on May 22, 2012

previous
Page 1/2
next

Select Articles

more search options less search options

Magazine