Wonderla Holidays (WONDERLA) Q4 12/13 earnings summary

Executive summary

• FY13 revenue rose 22% to ₹13,936.90 lakh; PBT increased 14.06% to ₹5,003.28 lakh and PAT rose 13.86% to ₹3,358.93 lakh.

• Park visits grew 3.63% to 23.40 lakh, while the first-year resort operation recorded a loss as it ramped up.

• Expansion plans included acquiring 46.17 acres in Hyderabad and filing a DRHP for a proposed IPO.

Financial highlights

• Total revenue was ₹13,936.90 lakh versus ₹11,439.49 lakh in FY12; service income ₹12,481.12 lakh and product sales ₹1,303.93 lakh.

• PBT was ₹5,003.28 lakh versus ₹4,386.78 lakh; PAT was ₹3,358.93 lakh versus ₹2,949.72 lakh.

• Total expenses increased 27% to ₹8,933.61 lakh from ₹7,052.70 lakh; employee benefits were ₹2,742.05 lakh and finance costs ₹222.51 lakh.

• Operating cash flow was ₹4,856.92 lakh; capital expenditure including work in progress was ₹3,625.11 lakh.

Outlook and guidance

• Management expressed confidence in the outlook, supported by marketing, corporate-event bookings and efforts to increase food and beverage sales.

• Industry estimates cited expected amusement-park footfall growth of 10–15% to 78–80 million and revenue growth of 15–18% over the next couple of years.

• Hyderabad project work was intended to begin after land conversion, approvals and development-plan formalities were completed.