Wonderla Holidays (WONDERLA) Q4 11/12 earnings summary

Executive summary

• FY2011-12 revenue was ₹11,441.92 lakh, up 25.50% YoY; PBT excluding fixed-asset sale profit rose 37.43% to ₹4,386.78 lakh.

• Visitor numbers increased 11.39% to 22.59 lakh; cumulative attendance across the parks passed 150 lakh.

• Growth included entry into hospitality with an 84-room eco-friendly 3-star resort at Bangalore; two further parks were planned for Hyderabad and Chennai.

Financial highlights

• Total revenue reached ₹11,441.92 lakh versus ₹9,115.12 lakh in FY2010-11, excluding the prior-year extraordinary item.

• PBT excluding profit on sale of fixed assets increased to ₹4,386.78 lakh from ₹3,192.06 lakh, up 37.43% YoY.

• PAT was ₹2,949.72 lakh; FY2010-11 PAT included an extraordinary land-sale gain of ₹1,079.96 lakh.

• Total expenses increased 19% YoY; operating profit grew 19%.

Outlook and guidance

• Plans called for amusement parks in Hyderabad and Chennai, with total investment estimated at ₹450 crore.

• Growth prospects were linked to rising disposable incomes, tourism, transport links and demand for integrated parks with hotels, resorts and convention facilities.

• Management cited the Indian amusement-park industry’s 15–20% growth and expected further expansion in the years ahead.