Parques Reunidos, one of the world’s leading leisure park operators, closed the fourth quarter of its fiscal year (July to September) with a moderate fall of 1.3% in revenue due to external factors. More specifically, the business has been affected by exceptionally adverse weather conditions in the northeastern United States (the second wettest August in history in an area that represents 60% of the revenue in the U.S.) and the effects on Marineland from the attack in nearby Nice.
Excluding the foregoing external factors, the group achieved favorable results driven by a strong performance in Spain. Within the domestic market, revenue grew by 10.5% in the fourth quarter of 2016 compared with the same period for the previous year and exceeded expectations. The growth was driven by an improvement in the commercial strategy, the successful launch of new attractions and a better macroeconomic environment and higher consumer spending.
In the rest of Europe, Group results were positive and in line with expectations once the effects on Marineland from the Nice attack were excluded. Parques Reunidos is developing a plan designed to improve the performance of the park.
Despite the effects of adverse weather conditions in the northeastern U.S., Parques Reunidos expects to achieve an EBITDA similar to prior year (excluding Marineland) in 2016.
Investment of 33 million Euros and the opening of new parks
The company continues delivering on its growth strategy. The expansion projects currently underway and which will be ready between 2017 and 2018 represent an investment of 33 million Euro.
Parques Reunidos has signed agreements to develop five mall entertainment centers that will be opened over the next two years: Four Nickelodeon centers in shopping malls in Thader (Murcia), Xanadú (Madrid), Lakeside (London) and Dolce Vita Tejo (Lisbon), along with the aquarium that will be developed in a shopping mall in Spain (Xanadú). The company is currently in negotiations to develop 20 additional projects and is also in contact with other global brands for potential licensing agreements.
The company has also signed contracts to manage two leisure parks in Vietnam that will open during the first quarter of 2017. In addition, two parks in Dubai, Motiongate and BollyWood, will also be managed by the company and are expected to open before the end of the year.
About Parques Reunidos
Parques Reunidos is one of the world’s leading operators of leisure parks. The company portfolio comprises 62 assets (amusement parks, animal parks, aquatic parks, family entertainment centers and other attractions). Having just signed various agreements to develop mall entertainment center across several European locations, the company has grown significantly in recent years and is currently present in 14 countries in the Americas, Europe, Asia and the Middle East, receiving approximately 20 million visitors per year. For more information regarding Parques Reunidos, please visit: www.parquesreunidos.com
*Information current at the close of the fiscal year, September 30, 2015.
Eurocofin (Parques Reunidos’ Communications and PR agency)
Santiago de Juan
Tel. (+34) 91 308 36 57
Parques Reunidos’ external Communications:
Tel.: (+34) 91 526 97 00