First Half FY25 Results Presentation

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Stock Coast Entertainment Holdings Ltd (CEH.ASX)
Release Time 21 Feb 2025, 8:48 a.m.
Price Sensitive Yes
 Coast Entertainment Holdings Ltd Reports 1H25 Results
Key Points
  • Consolidated EBITDA excl Specific Items of $1.9 million, marking third consecutive half-year of positive earnings
  • Theme Parks & Attractions delivered another strong performance with ticket sales value up 7.1% and visitation up 10.8%
  • Successful opening of new Rivertown attractions, including Jungle Rush coaster and Jane's Rivertown Restaurant
Full Summary

Coast Entertainment Holdings Ltd reported a strong 1H25 performance, with consolidated EBITDA excluding Specific Items of $1.9 million, marking the third consecutive half-year of positive earnings for the continuing business. The Theme Parks & Attractions division delivered another strong performance, with ticket sales value increasing by 7.1% and visitation up 10.8% compared to the prior period. Operating revenue for the division increased by 9.6% to $47.7 million, the highest first half revenue since 1H16, despite ongoing economic challenges. The successful opening of the new Rivertown attractions, including the Jungle Rush family coaster, Murrissippi Motors, and Jane's Rivertown Restaurant, contributed to the positive results, with a strong growth in attendance, revenue, and EBITDA in January 2025. The Group also reported a Group NPAT of $3.1 million, representing the first net profit from continuing operations since FY16. The Group maintains a solid debt-free balance sheet, with cash of $59.9 million and available tax losses of $137.9 million at 24 December 2024.

Guidance

The Group reported that following the opening of Rivertown in late December, the month of January 2025 has produced a strong trading performance, with total visitation up 33% on the prior corresponding period, total revenue up 25%, and EBITDA excluding Specific Items up 50%, all the highest since January 2016.