Merlin Entertainments is the largest European entertainments company operating in Europe. Merlin runs 99 attractions in 22 countries across four continents. Our aim is to deliver unique, memorable and rewarding experiences to millions of visitors across our growing estate. We believe that we achieve this objective largely thanks to the commitment and passion of our team and the strength of our brands, which will never fail to be distinctive, challenging and innovative. In every respect and to every group of stakeholders, Merlin will always be an exciting company to be involved with.

http://www.merlinentertainments.biz/

Lego Movie lifts Merlin figures but Thailand business slows

By Andrew Neil

December 02 2014, 9:44am
Lego Movie lifts Merlin figures but Thailand business slows

The success of the Lego Movie has kept profits at theme park operator Merlin Entertainments (LON:MERL) on track despite slowing business in Thailand.

The company, which runs six Legoland parks in five countries, said it has seen strong post-summer trading at its resorts thanks to the continuing interest in the animated adventure comedy film.

Last week it announced plans to open its first Legoland Park in South Korea 2017.

Merlin is the second largest tourist attraction operator after Walt Disney and also runs Madame Tussauds and the London Eye.

However, operations in Bangkok have continued to be a “drag on growth.”

The business runs Madame Tussauds and Siam Ocean World in the city and did well out of them last year.

But political unrest in Thailand has lowered visitor numbers.

The firm still expects to report earnings before tax, of between £407mln and £411mln for 2014.

The details will be released on February 26, when Merlin releases its annual results.

Nick Varney, Merlin’s chief executive, said: “The performance this year has benefited from a number of one-off factors and whilst we remain positive on the outlook for 2015, our expectations remain unchanged.”



Shares were trading 9p higher at 380p.

Avoid Merlin as investors sell

Questor thinks investors should avoid shares in Merlin Entertainments as private equity owners reduce their stake





Merlin Entertainments increased group like-for-like revenue by 6.7pc during the third quarter,

Merlin Entertainments increased group like-for-like revenue by 6.7pc during the third quarter,


By John Ficenec, Questor Editor

6:00AM GMT 03 Dec 2014


Merlin Entertainments
381½p+10.4p
Questor says AVOID


MERLIN Entertainments [LON:MERL], the owner of Alton Towers and Madame Tussauds, hailed a “strong performance” in its first year as a publicly traded company.


However, Questor is concerned that growth levels won’t support a punchy share price valuation as private equity backers sell their stakes.


The FTSE 250-listed leisure group said that a warm summer and The Lego Movie helped increase revenue across the company.


Questor doesn’t think revenue is growing enough; in fact it is showing signs of slowing. The company increased group like-for-like revenue by 6.7pc during the third quarter ended September 6, a slowdown from 8.1pc like-for-like revenue growth in the first half.



Management said it expects to achieve adjusted earnings of about £409m for the full year. Market consensus is for full-year, reported pre-tax profits of £236m, on revenue of £1.24bn, giving 16.8p in earnings per share.

That means Merlin shares at 381½p are trading on 22 times forecast earnings, falling to 20 times next year. That looks expensive for a company increasing revenue by 6.7pc.

The other issue is the former private equity owners reducing their stakes. Blackstone has cut its stake from around 14pc to 9.4pc at the end of October. CVC, which has a holding through Lancelot Holdings, reduced its stake from 8pc to 5.5pc.

The sales haven’t hurt the share price, which is up 7.4pc since the end of October, ahead of the wider market recovery, with the FTSE 250 up 4.6pc.

Kirkbi, the investment arm run by the family that owns the Lego brand, has remained a long-term investor with a constant 30pc stake.

Merlin generates its revenue from three key parts of the business: Midway Attractions, which owns Madame Tussauds, London Dungeon and London Eye, makes up 45pc of group revenue; Legoland Parks generates 29pc; while Resort Theme Parks, such as Alton Towers, Thorpe Park and Warwick Castle, constitutes 26pc.

Legoland Parks is a global brand in countries such as America, Germany and Asia, and this means that while 40pc of total group sales are still UK-based, 26pc are in Europe, 20pc North America and 14pc Asia Pacific. Also, while the majority of revenue, 60pc, is still outdoors and weather dependent, the rest is now indoors.

The Legoland Parks business is growing strongly and reported revenue up 13.8pc in the third quarter ended September 6.

The largest part of the company, the UK-focused Midway Attractions, reported revenue up 3.2pc, reversing a first-half fall in revenue.

Resort Theme Parks increased revenue at a steady 4.2pc during the third quarter, but this slowed from 7.7pc like-for-like revenue growth during the first half.

The other thing that concerns Questor is that, in addition to slowing revenue growth, cash generation is falling. Money made from operations was down £7m to £140m during the first half ended June 28. Once spending on the parks of £104m and interest payments of £32m are subtracted, the company only generated £4m in free cash.

There is also a rather large pile of debt. Net debt was £977m on June 28, more than shareholders’ funds of £960m.

Questor would rather wait for a detailed set of annual results – due out on February 26 – before buying the shares, and until then it remains one to avoid.

i certainly think parents should avoid Legoland ..... extortionate i am told

Legoland Windsor entry prices.

2 adults + 2 children = £132.20 at the very cheapest rate, and that's before you even start

if you pay at the gate, as many will do, then it's £176.40

where's the value?

Not far short of Disney entry prices. Dad is going to need another £100 in his pocket, for the can I have from the kids. lol

3 Dec Barclays... 420.00 Overweight
3 Dec Beaufort... N/A Buy
3 Dec Deutsche Bank 440.00 Buy
3 Dec JP Morgan... 440.00 Overweight
2 Dec Kepler... 385.00 Hold
2 Dec Panmure Gordon 446.00 Buy
1 Dec Beaufort... N/A Buy

Final Results
////////////////////////////////////////////////////////////////////////////////////////////////

26 Feb Panmure Gordon 446.00 Buy
26 Feb Numis 330.00 Reduce
23 Feb Deutsche Bank 440.00 Buy
23 Feb Nomura N/A Buy

Sharecast - The recent exit of Blackstone and CVC from their investment in Merlin Entertainments was well-timed and is unsurprising. After a successful flotation and given the shares were at a record high it was to be expected. Hence, the scant reaction in the stock's price.

Were they too well-timed, perhaps? Analysts do expect like-for-like sales to revert from last year's rise of 7.1% to a more normal 4% this year. In parallel, capital expenditures are expected to pick back up. Even so, the company generates a reliable stream of income. Don't expect much immediate outperformance, "but that reliability justifies a long-term buy," says The Times's Tempus.

Merlin Entertainments: Nomura hikes target to 470p from 420p and reiterates buy.

Questor-share-tip-Merlin-has-magic-start.

Company News

Tue, 02 June 2015

Theme park ride crashes at Merlin Entertainments' Alton Towers, four seriously injured



Air ambulances were called to Alton Towers, one of the theme parks owned by Merlin Entertainments, after four people were seriously hurt in collision between two carriages of the 14-loop 'Smiler' ride.
There were 16 people involved in the crash, which happened at around 14:00 on Tuesday on the £18m ride, the world's first rollercoaster to offer 14 loop-the-loops.

The West Midlands Ambulance Service confirmed an air ambulance had assessed all 16 people.

Four people have been seriously injured, Sky News said.

A spokeswoman for the ambulance service: "Ambulance staff and medics are working quickly with resort staff to gain access to the seriously injured."

Alton Towers issued a statement that said: "There has been an incident on the Smiler this afternoon involving two carriages coming together on a low section of the track. One of the carriages was empty and the other had 16 guests in."

Update :- Alton Towers closed after Smiler rollercoaster crash

i am amazed sp hasn't fallen through the floor

That's just the punters!

Interesting to note that demand for the ride, when it is put back into service, is expected to increase dramatically. It seems teenagers / twentys are already looking forward to the extra risk factor attached to the ride!

Naked Trader today -Merlin (LON:MERL) dropped a little on the roller coaster problem but it is only one coaster in one of many parks it has so I don't see it as a long-term worry.

Alton-Towers-crash-wipes-100m-owner-s-value-looks-set-lose-millions-lost-bookings.

Jefferies increased its price target, to 500p from 420p, for Alton Towers owner Merlin Entertainments (LON:MERL) and repeated a ‘buy’ recommendation.

Alton-Towers-rollercoaster-crash-victims-given-instalments-insurance-payout-set-total-millions-poundsl