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Merlin Entertainments exceeds the billion in
revenues and the 50 million visitors for the first time
Merlin Entertainments, Europe’s leading and the world’s second-largest visitor attraction operator, has just announced new record financial results for FY 2012.
Just like in the previous fiscal year, the British group has posted a solid double-digit growth and signs the thirteenth consecutive year of increase of its key financial indicators, starting with the turnover which passes for the first time the barrier of the billion British pounds to amount at £1.074 billion (approximately $1.6 billion), an increase of over 15% compared to 2011. The operating result is a profit of £258 million pounds (approx $390 million), up 16.5%.
This performance is mainly due to the increase in attendance of the different properties of the group that reaches the 54 million visitors, which is again a very strong double-digit growth (7.5 million or 16% more compared to last year).
Merlin underlines the success of its international expansion strategic plan (seven new sites opened in 2012, including the now very popular LEGOLAND Malaysia), the success of its Midway attractions (LEGO Discovery Centres, Madame Tussauds, the Dungeons and SEA LIFE Centres) and the integration in its accounts of 9 attractions of Living and Leisure Australia which was acquired in 2011. The launch of a new platform for e-commerce has also led to a significant increase in sales.
The company invested $163 million pounds (about $246 million) during the year including 92 on existing estates (including for the wing coaster 'The Swarm' at Thorpe Park, the family coaster 'Polar X-Plorer' at LEGOLAND Billund, a water park at LEGOLAND Florida and the LEGOLAND Windsor hotel) and 71 for the development of new businesses (LEGOLAND Malaysia, three LEGO Discovery Centers in Tokyo, Japan as well as in Atlanta and Kansas City in the United States, a SEA LIFE Center in Kansas City, a Madame Tussauds in Sydney, Australia and an observation tower at Weymouth, United Kingdom).
According to Nick Varney, Merlin Entertainments' chief executive, these excellent results were achieved despite rather unfavorable business environment in Europe as a result of the unprecedented combination of three negative factors. "2012 was one of the most challenging years we have experienced since founding Merlin in 1999. In northern Europe our theme parks were hit by the wettest weather on record through all of our key trading periods while those in southern Europe felt the impact of the continued Eurozone crisis. In the UK our attractions had to compete with the London Olympics - a £10bn, ‘once in a lifetime’ event that attracted more than 10m visitors in the middle of our peak season," he explained.
In 2013, the group's expansion will continue with the opening of a hotel at LEGOLAND California (United States), three LEGO Discovery Centres in Toronto (Canada), Oberhausen (Germany) and Westchester (United States) a Madame Tussauds in Tokyo, a Dungeon in Berlin (Germany) and a SEA LIFE Centre in Manchester (UK). With a current trading in line with expectations, Merlin expects to deliver ongoing growth in turnover and profitability.
“Merlin now operates almost 100 attractions across four continents,” added Nick Varney. “We are committed to maintaining this momentum through 2013 and beyond with a strong schedule of new openings and exciting plans for the ongoing development of our existing attractions .”
“While the economic outlook remains uncertain, the investments we made through 2012 and our unrelenting focus on customer satisfaction mean that Merlin is stronger than ever and better placed to deliver even more memorable experiences in 2013. The business continues to broaden its international footprint, diversifying its revenues and providing further exposure to faster growing economies in Asia Pacific and North America. All this means our iconic brands will attract more visitors in more locations around the world through 2013 and we look forward to a challenging but exciting year ,” he concluded.
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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.
