Whistler/Blackcomb Releases Q2 Results
SAM Magazine--May 9, 2013--Whistler Blackcomb Holdings, Inc., the corporation that holds a 75% interest in the entities that operate Whistler Blackcomb, announced its second quarter numbers, as well as numbers for the six months ended March 31, 2013 (all numbers are in Canadian dollars). Total revenue for the six-month period was $182.5 million, 4.5% higher than the $174.6 million during the same period last year. Revenue for the three-month period was $132.2 million, an increase of 5.4% over the same period last year. Skier visits were 1.33 million and 1.791 million for the three and six months ended March 31. That number increased slightly during April, bringing the total to 2 million as of April 30, a slight decrease over last year, which saw 2.08 million as of the end of April.
As of March 31, total pass and card sales reached $43.8 million, a new record for Whistler Blackcomb. Total EBITDA for the three and six months ended March 31 were $73.74 million and $84 million—the six-month figure represents an increase of 4.9% over the same period last year. Operating expenses, excluding depreciation and amortization, were $83 million for the six months ended March 31, an increase of just under $4 million over last year. Consolidated net earnings during the six-month period were $44.3 million, compared to $42 million during the same period last year.
Effective ticket price rose to $52.36 for the six months ended March 31, an increase of 3.8% over last year. Other six-month figures include a 3.5 increase in lift revenue, a 3.2% increase in retail and rental, an 8.5% increase in snow school and a 5.9% increase in F&B.
"During the quarter, our regional market continued to exhibit strength, with increased skier visits and record season pass and frequency card sales," said President and CEO Dave Brownlie. "We also generated increased guest spending per visit during the first half of 2013. As we prepare for our upcomiong summer season, our team is focused on building on the momentum."