Wonderla Holidays (WONDERLA) Q4 15/16 earnings summary

Executive summary

• FY16 operating revenue rose 12.9% to Rs. 20,535.94 lakh; PAT increased 18.1% to Rs. 5,981.59 lakh, while park footfall fell to 22.37 lakh from 23.40 lakh.

• Hyderabad park opened in April 2016, marking the third park; FY16 also brought new attractions at Bangalore.

Financial highlights

• Total revenue was Rs. 22,343.49 lakh vs Rs. 19,211.66 lakh; other income increased to Rs. 1,807.55 lakh from Rs. 1,024.70 lakh.

• Profit before tax rose to Rs. 8,702.39 lakh from Rs. 7,294.46 lakh; total expenses increased to Rs. 13,641.10 lakh from Rs. 11,917.20 lakh.

• Adjusted for no stated one-time item, operating profit before depreciation and finance costs was Rs. 8,420.17 lakh vs Rs. 8,055.60 lakh.

Outlook and guidance

• FY17 Hyderabad guidance: Rs. 65 crore revenue and ~7 lakh visitors; EBITDA expected positive in year one and PAT profitability targeted by year three.

• Chennai park targeted for FY19, subject to land acquisition; planned investment is Rs. 300 crore.

• Bangalore expansion plan calls for Rs. 150 crore investment over two years, funded through a combination of debt and internal accruals.