Wonderla Holidays Reports Q4 and FY 23 performance at lifetime high

 by Priya Jadhav

Recommends Dividend of 25%

Wonderla delivered a strong performance with a footfall growth of 2x and revenue growth of 3x. Double digit revenue growth across units.

Bengaluru–25^th May 2023: Wonderla Holidays Limited, India’s largest Amusement Park chain has announced its financial results for the fourth quarter of the financial year ended 31^st March 2023.

Highlights: Footfall surpasses pre-pandemic level. Achieved 2x growth (99%) in Footfalls compared to Q4 FY20. 

·   Wonderla Bangalore recorded 2.69 lakhs footfalls (96% above Q4 FY20), Wonderla Kochi recorded 3.03 lakhs footfalls (128% above Q4 FY20) and Wonderla Hyderabad recorded 2.33 lakhs footfalls (73% above Q4 FY20).

·         Double digit revenue growth across units, driven by robust footfall numbers.

·         The Resort recorded 49% occupancy in Q4 FY23.

 Quarter update:

·         Footfalls for the Fourth Quarter ended 31^st March 2023 was 8.04 lakhs as against 4.05 lakhs during the Fourth Quarter of FY20. Footfall contribution from both the retail and institutional channels.

 

·         Gross Revenue for the Fourth Quarter ended 31^st March 2023 was Rs.112.6 crores as against Rs.44.91 crores during the Fourth Quarter of FY20.

 

·         EBITDA for the Quarter ended 31^st March 2023 was Rs.56.37 crores as against Rs.7.56 crores during the Fourth Quarter of FY20.

 

·         Profit After Tax for the Fourth Quarter ended 31^st March 2023 was Rs.35.05 crores as against Rs.1.56 crores during the Fourth Quarter of FY20.

 

Annual update: Revenue at Rs. 452.4 Crores grew 60% with underlying footfall growth of 39%.  Record all-time high performance.  EBITDA margin remained healthy at 52%.  The Board of Directors has proposed a final dividend of INR 2.50 per share, subject to approval of the shareholders in the AGM.

 

 

·         Footfalls for the Year surpasses 33.1 lakhs as against 23.8 lakhs during FY20.  Positive and affirmative response from all the segments.

 

·         Gross Revenue for the Year ended 31^st March 2023 was Rs.452.4 crores as against Rs.282.9 crores during FY20.

 

·         EBITDA for Year ended 31^st March 2023 was Rs.234.68 crores as against Rs.116.1 Cr during FY20.

 

·         Profit After Tax for the Year ended 31^st March 2023 was Rs.148.9 crores as against Rs.64.78 crores during FY20.

 

·         Recorded highest ever EPS at INR 26.33

Business Outlook: Commenting on the performance during the quarter, Mr. Arun K Chittilappilly, Managing Director said “We are excited to share our outstanding business performance achieved in the quarter and throughout the financial year, setting new records and reaching unprecedented heights. We experienced a remarkable surge of 2x in footfall and 3x in revenue growth, driven by an increase in walk-in customers and the resurgence of institutional sales. The company’s success is a testament to its focused efforts in attracting visitors across various segments, including Ride plus activities, F&B and Retail offerings and Events, while ensuring efficient operations. The dedication and strategic approach of our team have yielded remarkable results. The construction of our new park in Bhubaneswar, Odisha has begun, and the aim is to open it by 2025.”

About Wonderla Holidays Ltd: Wonderla Holidays Limited is India’s largest and most popular amusement park operator. The company currently owns and operates three amusement parks in Kochi, Bengaluru, Hyderabad and a resort at Bengaluru named ‘Wonderla Resort’. Many of its rides are custom made and imported from reputed international suppliers, making them unique in India. Wonderla parks have been visited by over 3.9 crores visitors since 2000 making them the most visited amusement parks in India. Wonderla is among the top ranked amusement parks in India and Asia. For further information on Wonderla, visit www.wonderla.com