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Another record quarter for Six Flags with revenue

up by 2% to $485 million

Update : 13:26 Published by François Mayné the 28 October 2012, Corporate.

The world's largest regional theme park operator Six Flags Entertainment Corporation announced it signed a tenth consecutive quarter of record financial performance by unveiling its results for the third quarter of fiscal year 2012.

During this period, the company generated revenue and an Adjusted EBITDA respectively up by 2% to $485 million (approx €375 million) and by 3% to $258 million (approx €199 million). These figures can be explained by the increase in revenues from ticket sales due to an increase in attendance by 3%, for a total of 11.3 million visitors for the quarter.

Total guest spending per capita declined slightly due primarily to the company's success in generating a higher mix of season pass attendance. On average, season pass holders spend less per visit than a single-day visitor, although they generate more revenue, profit and cash flow for the company over an entire season.

"Six Flags' strong momentum continues, driven by record-high guest satisfaction, innovative new attractions and great execution by our dedicated employees," said Jim Reid-Anderson, Chairman, President and CEO. "Our consistent performance and strong financial position allows us to increase our dividend by 50 percent to an annual dividend rate of $3.60 per share. We remain laser focused on delivering our aspirational target of $500 million of Modified EBITDA by 2015, which would equate to nearly $6 of cash earnings per share."

For the first nine months of fiscal year 2012, revenue increased by 6% to $ 926 million (approx €716 million) while the Adjusted EBITDA increased by 12%. We note that Six Flags has sold its minority stake in the company Dick Clark Productions (TV producer) for a total amount of $ 70 million, with the aim to focus on regional theme park operations.

Texas SkyScreamer (Six Flags Over Texas)

Six Flags unveiled a few weeks ago its investment plan for the 2013 season, but did not specify the exact amount. All theme parks of the company are concerned with a special focus on record-breaking additions including at Six Flags Magic Mountain with Full Throtle (world's tallest and fastest looping coaster), Six Flags Over Texas with Texas SkyScreamer (world's tallest swing ride) or Six Flags great Adventure that will become the world's largest theme park.

For more information about the investment plan for 2013, please read our related articles section below.

Financial Information - - -

Written by François Mayné

François Mayné Publishing Director » Contact Us
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