Coast Entertainment Holdings Ltd
ASX:CEH
Coast Entertainment Holdings Ltd
Coast Entertainment Holdings Ltd is a AU-based company operating in Hotels, Restaurants & Leisure industry. The company is headquartered in North Sydney, New South Wales. The company went IPO on 2018-11-30. Ardent Leisure Group Limited is an Australia-based leisure and entertainment company. The firm owns and operates leisure assets, including Dreamworld, WhiteWater World & SkyPoint theme parks and attractions. The firm operates through the Theme Parks & Attractions segment. The Theme Parks & Attractions segment comprises Dreamworld and WhiteWater World in Coomera, Queensland and the SkyPoint observation deck and climb in Surfers Paradise, Queensland. WhiteWater World includes Wiggle Bay, Pipeline Plunge, Cave of Waves and Cabanas. Dreamworld Theme Parks includes Thrill Rides, Tiger Island, Wildlife Experience and Dreamworld Wildlife Fund (DWF). Its Thrill Rides include the Giant Drop, The Claw, Pandamonium, The Gold Coaster, Tail Spin and Motocoaster. Its SkyPoint includes SkyPoint Observation Deck and Seventy7 Cafe + Bar. Dreamworld is located at the northern end of Queensland’s Gold Coast.
Coast Entertainment Holdings Ltd is a AU-based company operating in Hotels, Restaurants & Leisure industry. The company is headquartered in North Sydney, New South Wales. The company went IPO on 2018-11-30. Ardent Leisure Group Limited is an Australia-based leisure and entertainment company. The firm owns and operates leisure assets, including Dreamworld, WhiteWater World & SkyPoint theme parks and attractions. The firm operates through the Theme Parks & Attractions segment. The Theme Parks & Attractions segment comprises Dreamworld and WhiteWater World in Coomera, Queensland and the SkyPoint observation deck and climb in Surfers Paradise, Queensland. WhiteWater World includes Wiggle Bay, Pipeline Plunge, Cave of Waves and Cabanas. Dreamworld Theme Parks includes Thrill Rides, Tiger Island, Wildlife Experience and Dreamworld Wildlife Fund (DWF). Its Thrill Rides include the Giant Drop, The Claw, Pandamonium, The Gold Coaster, Tail Spin and Motocoaster. Its SkyPoint includes SkyPoint Observation Deck and Seventy7 Cafe + Bar. Dreamworld is located at the northern end of Queensland’s Gold Coast.
Strong Revenue Growth: Operating revenue for the half rose 30% to $62.2 million, driven by a surge in ticket sales (up 47%) and visitation (up 44%), surpassing pre-COVID and prior peak (FY '16) levels.
Profit & Margin Expansion: Statutory net profit reached $3.2 million for the half. Group EBITDA (excluding specific items) jumped 368% to $8.7 million, with Theme Parks & Attractions EBITDA up 169% to $11.2 million, highlighting significant operating leverage.
Robust Cash & No Debt: Coast Entertainment ended the period with $37.6 million in cash, no drawn debt, and a renewed undrawn $20 million loan facility, maintaining strong financial flexibility.
Recurring Revenue & Deferred Income: Annual pass sales surged, pushing deferred revenue balances up 43% to nearly $22 million, providing a solid base of recurring future revenue.
Continued Second Half Momentum: Growth persisted into January, with ticket sales up 34%, visitation up 28%, and revenue up 22% year-to-date, although management expects growth rates to moderate as they cycle strong prior-period comps.
Asset Value Not Fully Reflected: Management emphasized significant unrecognized value in real estate and tax assets, suggesting true net asset value could be much higher than book value.
Capital Discipline & Shareholder Focus: Disciplined capital management, limited major new capex planned near term, and ongoing share buybacks underpin management’s commitment to long-term shareholder value.
