Coast Entertainment Holdings (CEH) H2 2025 earnings summary

Executive summary

• FY 2025 marked a year of transformation and momentum, with record operating revenue of $96.4 million, the highest since FY16, and strong performance despite sector challenges.

• Achieved second consecutive year of positive consolidated EBITDA growth, with EBITDA from continuing operations up 275% to $4.1 million.

• The launch of Rivertown and other new attractions in December 2024 drove significant uplift in attendance, guest satisfaction, and media coverage.

• The business demonstrated resilience, overcoming weather-related disruptions and macroeconomic headwinds, and is positioned for continued growth.

• Solid start to FY26 with July ticket sales up 66% and visitation up 38% year-over-year, supported by successful promotional campaigns.

Financial highlights

• Operating revenue reached $96.4 million, up 10.8% year-over-year, the highest in nine years.

• EBITDA (excluding specific items) at group level improved 275% to $4.1 million; theme parks and attractions EBITDA rose 19.4% to $8.8 million.

• Net loss from continuing operations narrowed to $0.1 million, a $9.9 million improvement from FY 2024.

• Deferred revenue increased 4.8% to $12.7 million, reflecting strong annual pass sales.

• Corporate costs (excluding specific items) fell 25% to $4.7 million, the lowest in over a decade.

• Cash on hand at year-end was $33.9 million, with no debt.

• Operating pre-tax cash flows were $9.7 million, up $13.2 million year-over-year.

Outlook and guidance

• Strong trading momentum has continued into FY26, with July ticket sales up 66%, visitation up 38%, and revenue up 16% year-over-year.

• Development CapEx is expected to moderate, with $8 million planned for FY26, mainly for King Claw completion.

• Ongoing investment in new attractions and customer service expected to sustain growth as macroeconomic conditions improve.

• Anticipated upside as international tourism recovers and new attractions open.