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Another record annual results for Six Flags in 2012

Update : 27/02/13 - 09h45 Published by François Mayné the 21 February 2013, Corporate.

Just like Cedar Fair, its main competitor on the market of regional amusement park in North America, the group Six Flags Entertainment Corp. announced that it has signed once again record financial results in its fiscal year 2012.

The company - which operates a total of 18 properties in the United States, Canada and Mexico - has achieved a turnover of 1.07 billion US dollars (approx 811.5 million euros), up 6% compared to 2011 due to increased ticket sales and in-park sales.

Another record annual results for Six Flags in 2012.

Six Flags highlights the success of its up-selling program of season passes and specifies that their holders have generated higher average turnover over the whole season than the single day visitors. As a result, the Group's overall attendance set a new record (since 2006) to 25.7 million visitors, i.e. 1.4 million more entries (+6%) than the previous season.

"Excellent execution of our strategy has been a key factor in driving our third successive year of record performance," said Jim Reid-Anderson, Chairman, President and CEO of Six Flags. "Guests recognize that we are providing innovative rides and attractions, superb service, and great value for their money. We are well-positioned as we enter the 2013 season and remain focused on our medium-term financial targets."

Six Flags also announced a record Adjusted EBITDA up 9% to $383 million (approx €290 million) and is approaching its target of $500 million for 2015. The company has invested $98 million in capital improvements and distributed $148 million in dividends to its shareholders. During the year, the Group also sold its minority stake in the company Dick Clark Productions for a total of $70 million, with the aim to focus only on the activity of management of amusement parks.

Six Flags Magic Mountain will open 'Full Throtle', the world's tallest and fastest Looping Coaster.

Six Flags Over Texas will open Texas SkyScreamer which should be the highest aerial flying chair ride in the world.

This season, the group's investment program is placed - like the financial results - under the sign of records, a marketing argument which should maintain attendance levels at their highest.

Among the most important projects, Six Flags Magic Mountain will open 'Full Throtle', the world's tallest and fastest Looping Coaster whose design was entrusted to Premier Rides. Six Flags Over Texas will open Texas SkyScreamer which should be the highest aerial flying chair ride in the world (in competition with Gröna Lund, Sweden), while Six Flags Great Adventure will become the largest theme park in the world by merging with its wildlife section.

Attendance - Financial Information - - -

Written by François Mayné

François Mayné Publishing Director » Contact Us
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