Coast Entertainment Holdings (CEH) H1 2025 earnings summary

Executive summary

• Net profit after tax from continuing operations reached $3.1 million, the first since FY16, representing a $10.9 million year-over-year improvement.

• Achieved third consecutive half-year of positive EBITDA from continuing operations, with consolidated EBITDA (excluding specific items) of $1.9 million, up from $0.1 million in the prior period.

• Revenue from continuing operations increased by 9.6% to $47.7 million, driven by a 10.8% rise in visitation and successful promotional campaigns.

• Major new attractions, including the Rivertown precinct, Jane's Rivertown Restaurant, and Jungle Rush coaster, launched in December 2024, driving record attendance and guest satisfaction.

• No interim dividend was declared for the period.

Financial highlights

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

• Operating revenue grew 9.6% to $47.7 million, the highest first-half revenue since 2016, with ticket sales up 7.1% and visitation up 10.8%.

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

• Corporate costs (excluding specific items) reduced by 24% to $2.3 million, the lowest in over a decade.

• Cash and cash equivalents at period end were $59.9 million, up from $27.2 million at the start of the period.

Outlook and guidance

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

• Economic benefits from new attractions are expected to be realized from 2H25 onwards, with management anticipating increased earnings as macroeconomic conditions normalize.

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