Coast Entertainment Holdings Limited (ASX: CEH), a company that owns and operates theme parks and attractions, today announced a preliminary update on its unaudited trading performance and capital management for the year ended 24 June 2025. The company reported a solid performance for the full year, with visitation up 11.2% and operating revenue reaching $96.4 million, a 10.8% increase on the prior year and a 43.6% uplift compared to pre-COVID FY19 levels. This growth, which marks the Group’s highest revenue for the continuing business since FY16, demonstrates the business’s resilience amid economic headwinds.
Key drivers of this performance include the successful opening of the Rivertown attraction, increased promotional activity such as ‘Black Friday’ and ‘End-of-Financial-Year’ sales campaigns, and the Group’s focus on exceptional guest experiences. The company achieved its highest value of ticket sales since FY16, representing a 10.5% increase on the prior year and a 57.1% uplift compared to FY19 pre-COVID levels. Annual pass sales remained strong, leading to a 4.8% increase in deferred revenue as of June 2025 compared to June 2024. Despite temporary closures due to ex-Tropical Cyclone Alfred, Dreamworld recorded an uplift in attendance and revenue during the Easter holiday period.
Corporate costs for FY25 were significantly lower than the prior year, driven by reduced insurance premiums and lower audit fees. Consolidated EBITDA (excluding Specific Items) for the Group is expected to increase year-on-year, marking the second consecutive year of positive earnings for the continuing business since FY16. The company also reported a strong start to FY26, with double-digit growth in ticket sales and attendances in the first three weeks of July.
As of 24 June 2025, Coast Entertainment held cash balances of $33.9 million. Under the current buyback program, the Group has purchased 34.2 million shares to date at a cost of $14.5 million. Share purchases were temporarily suspended on 24 June 2025 while the Group reviews its FY25 financial performance and are expected to recommence shortly. The Group’s $10 million standby credit facility has remained undrawn throughout the year.
