Wonderla Holidays (WONDERLA) Q4 17/18 earnings summary

Executive summary

• FY18 revenue rose 3% YoY to ₹27,049.34 lakh; PBT increased 22% to ₹5,924.16 lakh and PAT grew 13% to ₹3,850.39 lakh.

• Footfall fell 6.5% YoY to 24.87 lakh, with ticket-price changes during the service-tax-to-GST transition cited as a key cause.

• Profitability improved through cost controls and stronger non-ticket engagement, despite subdued visitor numbers.

Financial highlights

• Revenue from operations was ₹27,049.34 lakh versus ₹26,282.23 lakh; operating expenses rose to ₹19,584.88 lakh from ₹18,138.71 lakh.

• PBDIET reached ₹9,695.34 lakh versus ₹7,913.67 lakh; PBT was ₹5,924.16 lakh versus ₹4,853.30 lakh.

• PAT was ₹3,850.39 lakh versus ₹3,391.11 lakh; total comprehensive income was ₹3,861.70 lakh versus ₹3,397.75 lakh.

• EBITDA was reported at ₹969 million, up 23% from ₹791 million, supported by cost control and customer-satisfaction initiatives.

Outlook and guidance

• FY19 outlook anticipated higher non-ticket revenue contribution; the share had risen from 14% in FY12 to 25% in FY17.

• The GST cut on admission charges from 28% to 18% took effect in January 2018; ticket pricing had stabilized in Q4, with improved visitor flow expected in coming quarters.

• Plans called for a new park every three years, funded through strong balance sheet and cash flows; 62 acres had been acquired in Chennai.

• The Indian amusement-park sector was estimated to grow at 19% CAGR over five years, reaching ₹69.8 billion by end-2021.