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Whistler Blackcomb Holdings Inc. reports fiscal 2013 fourth quarter and year end results WHISTLER, BC, Dec. 11, 2013 /PRNewswire/ - Whistler Blackcomb Holdings Inc. (TSX: WB) (the "Corporation") today reported Adjusted EBITDA of $86.4 million, an increase of 1.4% over 2012 Adjusted EBITDA and a record since the Corporation's initial public offering in 2010. Adjusted EBITDA is a non-GAAP measure that is described in more detail below. The Corporation also reported a change in the scheduled filing date of its 2013 audited financial statements and MD&A, as described below. The Corporation holds a 75% interest in the entities that operate Whistler Blackcomb, the largest and most visited mountain resort in North America. Highlights for the Year Ended September 30, 2013 A 4.8% increase in effective ticket price ("ETP") and a 4.7% increase in revenue per total visit, reflecting the Corporation's pricing power and growth in guest spending in its ancillary businesses. A slight decline in total visits to 2.58 million from 2.65 million in the prior year, principally due to lower skier visits as a result of the timing of the Easter holiday in 2013, offset in part by a 3.9% increase in other visits in 2013. Highlights for the Three Months Ended September 30, 2013 A 3.9% increase in revenue per other visit as a result of pricing improvements and stronger sales in most of the Corporation's ancillary businesses, in particular its retail operations. A 209% increase in Adjusted EBITDA to $0.5 million. Recently rated # 1 ski resort by Freeskier Magazine and SBC Resort Guide and # 1 landmark in Canada by Trip Advisor. Highlights Subsequent to September 30, 2013 Refinancing of the Corporation's $261 million of senior secured and second lien debt with a new $300 million five-year senior secured revolving credit facility with a significantly reduced interest rate and increased flexibility. Completion of construction of the new Harmony 6 Express and Crystal Ridge Express ski lifts, on time and on budget. The Crystal Ridge Express grand opening was on December 7, 2013, and the Harmony 6 Express grand opening is planned for December 14, 2013. Dave Brownlie, President and Chief Executive Officer of the Corporation commented: "I am pleased with our performance in the 2013 fourth quarter and fiscal year. In particular, the growth in our bike park, hiking and sightseeing businesses in the fourth quarter, combined with record hotel occupancy rates in Whistler in the summer of 2013, demonstrate the potential of our summer business opportunity. Looking ahead, our recent refinancing provides us with significant interest cost savings and the flexibility to invest in our ski and non-ski businesses in the future." Mr. Brownlie continued: "The completion and grand opening of the new Harmony and Crystal lifts, and the early season opening on November 16, position us well for the 2013-14 ski season." |
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| aus der Diskussion: | Whistler Blackcomb - kanadischer Skigebietsbetreiber |
| Autor (Datum des Eintrages): | R-BgO (04.01.14 18:33:57) |
| Beitrag: | 4 von 10 (ID:46156881) |
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