Merlin Entertainments, Europe's leading and the world's second-largest visitor attraction operator, reports another successful year, delivering strong growth from the existing estate along with the continued international roll out of its brands.
This year's strong performance continues the long term growth trajectory of the business, with an underlying EBITDA CAGR from 2010 to 2014 of 12.6%.
The year ended positively, with like for like revenue growth in Resort Theme Parks accelerating due to a strong Halloween product offering and an unseasonably warm Autumn in the UK, and the continued strong performance of both LEGOLAND
California and Florida. After a difficult start to the year, Midway Attractions performance improved in the second half of the year with strong performances in the UK and China.
The company also today announces that it has successfully secured a new £1.3bn banking facility, structured as a £1bn unsecured term loan and an increased £300m revolving credit line.
Nick Varney, Merlin Entertainments Chief Executive Officer, said, “2014 has been another good year for Merlin, wowing over 60 million visitors in 23 countries worldwide while growing revenues by 9.6% and underlying EBITDA by 11.0% on a constant currency basis.
'The stand out performance came from the LEGOLAND Parks Operating Group with like for like revenue growth at over 13%. However, the year hasn't been without its challenges and the strong overall Group result is a function of the diversified portfolio which our strategy has successfully created.
“In what has been a busy first full year as a public company, we have delivered on the near-term strategic targets set out at the time of the IPO, and our trading has met, or exceeded, expectations. In addition we have established a strong pipeline of potential new development projects and established important brand relationships across the business.
'Only in Merlin will you find a line up encompassing Emmet, Shrek, Horrible Histories, CBeebies and Darth Vader. With this in mind, we look forward to 2015 and beyond with confidence.”