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Cedar Fair signs a strong third quarter and reiterates

record full-year guidance for 2012

Update : 09/08/13 - 11h04 Published by François Mayné the 24 November 2012, Corporate.

Cedar Fair Entertainment, one of the leading operators of amusement parks and water parks in North America, has again achieved excellent financial performance during the third quarter of its fiscal year 2012. Accordingly, the Company's Board anticipates a third consecutive year of record results and approved an increase to its 2013 annual distribution rate.

Cedar Fair signs a strong third quarter and reiterates record full-year guidance for 2012

Net revenues for the first nine months increased 6.3% to $939.2 million (approx €724 million) and net income during this period was $111.6 million (approx €86 million). This results are explained largely from the strength of the Company's operations combined with a 1% increase in the number of operating days in the period, due to the timing of the fiscal third-quarter close (39 weeks in 2012 vs. 38 weeks in 2011). On a like-for-like, total revenues were up approximately $41 million, or 5%; average in-park guest per capita spending1 increased 4%; attendance increased 1%, or 228,000 visits; and out-of-park revenues were comparable with the prior year. Based on preliminary results, revenues through October 31, 2012 were $1.036 billion (approx €798 million) compared with $999 million for the same period a year ago.

"As we head into the final quarter of 2012, we feel very good about our near-term outlook and long-range potential," said Matt Ouimet, Cedar Fair's president and chief executive officer. "Based on our performance to date and our expectations through the end of the year, we are confident in our ability to deliver a third consecutive year of record results with revenues between $1.055 billion and $1.075 billion and Adjusted EBITDA between $385 million and $395 million.”

GateKeeper is scheduled to open in 2013 at Cedar Point

Gold Striker is scheduled to open in 2013 at California Great America

"As another successful year comes to a close, Cedar Fair moves into 2013 with tremendous momentum," continued Matt Ouimet. "We have a strong capital program in place for next year at all of our parks, which will be highlighted by the introductions of a record-setting roller coaster, GateKeeper, at our flagship park, Cedar Point, and a new world-class wooden coaster at California's Great America.”

“Our marketing programs, including our 2013 season pass initiatives, are also well under way and we continue to enter into new agreements with strategic corporate alliances. In everything we do, we remain committed to delivering excellent value to our unitholders in the short term as well as delivering on our long-term growth goal of increasing Adjusted EBITDA to $450 million by 2016," he concluded.

Attendance - Financial Information - - - - - - -

Written by François Mayné

François Mayné Publishing Director » Contact Us
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Compagnie des Alpes
(25 articles found)

Difficult season for Compagnie des Alpes' amusement parks read more

The Compagnie des Alpes leisure parks recorded disappointing financial results during fiscal year 2012/2013 which ended on September 30. The...

CORPORATE | Compagnie des Alpes - Published on November 10, 2013

Record anniversary edition for the Euro Attractions Show in Paris read more

Bienvenue à Paris! Enthusiasm was reigning among the aisles of the Porte de Versailles exhibition center in Paris last week, while the Euro ...

FEATURE | Compagnie des Alpes - Published on September 29, 2013

Compagnie de Alpes' leisure park sales continue to decline in the third quarter read more

Adverse weather conditions at the beginning of the season and the ever difficult economic conditions in Europe have negatively impacted the activities...

CORPORATE | Compagnie des Alpes - Published on September 9, 2013

Theme Park Industry News Roundup – Issue #3 read more

NewsParcs' Theme Park Industry News Roundup is a summary of the latest major news related to the theme park industry worldwide. This Industry Roundup reports news specifically on operators, owners, trade associations and...

NEW | Compagnie des Alpes - Published on August 11, 2013

Compagnie des Alpes' leisure park activity is down in first half of FY 2012-2013 read more

The French operator Compagnie des Alpes (CDA), which owns a dozen leisure parks and attractions in Europe and North America - including Parc...

CORPORATE | Compagnie des Alpes - Published on June 18, 2013

Attendance throughout global major theme parks reported more than 5% growth in 2012 read more

The global market for theme parks has behaved rather well in 2012. These are the conclusions of the 2012 Theme Index report released last week...

FEATURE | Compagnie des Alpes - Published on June 11, 2013

Compagnie des Alpes first quarter results affected by the school calendar read more

Compagnie des Alpes (CDA), which owns and operates ten leisure parks and attractions in Europe including Walibi amusement parks, Parc Asterix,...

CORPORATE | Compagnie des Alpes - Published on February 2, 2013

Bellewaerde Park prepares the opening of Huracan with ZIERER and TAA Industries read more

While the opening of the season is approaching at Bellewaerde Park, the management team of the Belgian amusement park wished to invite the media...