Coast Entertainment Holdings (CEH) H1 2025 earnings summary

Executive summary

• Achieved third consecutive half-year of positive EBITDA from continuing operations, with consolidated EBITDA (excluding specific items) of $1.9 million, and first net profit after tax (NPAT) from continuing operations since FY16, reaching $3.1 million, a $10.9 million year-over-year improvement.

• Operating revenue rose 9.6% to $47.7 million, the highest first-half revenue since 2016, driven by a 7.1% increase in ticket sales and 10.8% growth in visitation.

• Major new attractions, including Rivertown precinct, Jane's Rivertown Restaurant, and Jungle Rush coaster, opened in December 2024, driving record attendance, guest satisfaction, and strong January 2025 performance.

• No interim dividend declared for the period.

Financial highlights

• Theme Parks & Attractions EBITDA (excluding specific items) increased 35.5% to $4.1 million; consolidated EBITDA (excluding specific items) reached $1.9 million.

• Operating revenue grew 9.6% to $47.7 million, with ticket sales up 7.1% and visitation up 10.8%.

• Deferred revenue balance rose 3.2% compared to December 2023, reflecting strong annual pass sales.

• Insurance income of $5.4 million recognized for storm-related claims, boosting reported EBITDA.

• Corporate costs (excluding specific items) reduced by 23.8% to $2.3 million, the lowest in over a decade.

Outlook and guidance

• Management expects new attractions, especially Rivertown, to drive further growth in attendance, revenue, and EBITDA in the second half of FY25.

• Capital expenditure in the next six months projected at $13–15 million, mainly for King Claw and residual Rivertown costs.

• No major new development CapEx planned beyond King Claw; future investments expected to return to a more typical, lower cadence.

• Board confident in growth prospects, supported by investments, tourism recovery, and potential value from surplus land.