Fermer
or with Facebook
Facebook Connect
Log in to my account : » Forgot your password ? » I want to subscribe
ABOUT NEWSPARCS HOME ARTICLES
ex: Gerstlauer, Gardaland
Information
My Account
advertisement
Theme Park Supplier's News of the Week #12 Bolliger Mabillard, MAURER Rides, ETF Ride Systems, Lo-...
Theme Park Supplier's News of the Week #12
World Waterpark Association Success for WWA's 33th Symposium and Trade Show
World Waterpark Association
Hong Kong Disneyland to introdoce Iron Man Experience First major Marvel attraction planned in 2016
Hong Kong Disneyland to introdoce Iron Man Experience
Theme Park Supplier's News of the Week #11 Zamperla, Simworx, Electrosonic, Vortex
Theme Park Supplier's News of the Week #11
Theme Park Industry News Roundup #6 Liseber, Universal Parks and Resorts, IAAPA, Herschend ...
Theme Park Industry News Roundup #6
Premier Rides wins €8 million contract with Plopsa Gr... New launch coaster to open at Holiday Park in 2014
Premier Rides wins €8 million contract with Plopsa Gr...
Theme Park Industry News Roundup #5 Tokyo Disney Resort, Merlin, European Star Awards
Theme Park Industry News Roundup #5
Record anniversary edition for Euro Attractions Show More than 8,500 attendees on a record exhibit floor
Record anniversary edition for Euro Attractions Show
  • 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
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
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!

EAS 2013 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.
- - -

All Articles(613 articles found)

NewsParcs to take an extended break read more

These past three years have been intense for NewsParcs. Our magazine, which has been dedicated to the global theme parks industry since 1998, underwent major changes to become one of the most appreciated magazines among many...

CORPORATE | NewsParcs - Published on January 28, 2014
IAAPA Attractions Expo 2013 debuts next week in Orlando read more

World theme park capital Orlando is about to welcome the global attractions industry for the 2013 edition of IAAPA Attractions Expo, the annual...

EVENT | IAAPA Attractions Expo - Published on November 10, 2013
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
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 | Roundup of News - Published on October 21, 2013
Success for the 33th symposium and trade show of the World Waterpark Association read more

The World Waterpark Association (WWA), the global leading water-leisure trade association, has made a positive assessment of its 33th annual...

EVENT | World Waterpark Association - Published on October 21, 2013
Disney to introduce first major Marvel attraction at Hong Kong Disneyland in 2016 read more

When The Walt Disney Company acquired Marvel Entertainment in 2009, its intention was to strengthen its position as a leading global provider...

NEW | Hong Kong Disneyland Resort - Published on October 13, 2013
Theme Park Supplier's News of the Week #11 read more

The NewsParcs' 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, ...

NEW | Roundup of News - Published on October 13, 2013
Theme Park Industry News Roundup – Issue #6 read more

Our Industry Roundup is a summary of the latest major news related to the theme park industry worldwide. We report news specifically on operators, owners, trade associations and related organizations, including trends, attendance...

NEW | Roundup of News - Published on October 13, 2013
Select Articles

more search options less search options

Magazine
dynamic navigation : activateddesactivatedjavascript off
Member of :