Coast Entertainment 1H25 Presentation

[themagician]

Last week Coast Entertainment had their 1H25 Results Presentation, which can be seen here:

https://announcements.asx.com.au/asxpdf/20250221/pdf/06fs1nwvq8dkh4.pdf
 

This presentation didn’t hint at anything new that we don’t already know about, but to summarise the presentation… Dreamworld is starting to do well. Some key points:

- Ticket sales increased by 7.1% compared to prior year and is the highest sales since 1H16.

- Visitation up 10.8% compared to prior period.

- Operating revenue up almost 10% compared to prior year.

- Annual Pass sales up 107% compared to 1H17.

- Their Global Review Index is up 87.7, compared to VRTP which dropped to 80.0

- King Claw is expected to cost $13-14 million (The Claw cost $6 million, but adjusting for inflation is about $10 million).

[DaptoFunlandGuy]

All positive things. 

I can't wait for someone to come in and pour shit on all the results because they close a waterpark in winter.

[New display name]

@themagician you can't let yourself get bamboozled by a sales brochure aimed at drawing in new investors.

[DaptoFunlandGuy]

^There it is.

[franky]

Some thoughts:

Not a finance guy, but it looks to me that they've posted a 3.1M profit on the back of a 5.4M insurance payout, so techically they've profited, but you're not likely to get 5.4M insurance payouts every financial year.

Good news is they still have ~60M in the bank and another 10M line of credit for plussing the park, looks like this is also pre-King Claw purchase.

Massive reductions in insurance and corporate outlays compared to 2017, possibly due to replacing old assets and procedural changes (Page 19)

Guest visitation and feedback is positive as well, exceeding pre incident levels. International travel numbers still down.

Cost of Living pressures I'm sure will see an impact going forward - they have acknowledged this.

[New display name]

@frankyaround half of the insurance payout was for lost revenue.   Technically if the loss revenue is correct, next year CEH should earn half of the insurance payout as revenue through the gate.   Still doesn't account for the 3.1m profit, but it is getting close. 

[aaronm]

6 hours ago, franky said:

Cost of Living pressures I'm sure will see an impact going forward - they have acknowledged this.

This could go either way. Aussies might choose to holiday locally rather than overseas, so maybe fewer annual pass but more day ticket sales?

[Michelangelo]

8 hours ago, DaptoFunlandGuy said:

^There it is.

Oh a Parkz comment hasn’t made me giggle like this in a long time 😂

Here’s confirmation DW read Parkz comments…

 

taken directly from my own comment 

 

[TomiJ]

46 minutes ago, Michelangelo said:

taken directly from my own comment 

That's hectic! And what a comment to put in.