Travel Daily

Ardent makes gains

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ARDENT Leisure’s 2021 fiscal year statutory results improved significan­tly despite the full year being impacted by the COVID-19 pandemic, with the company recording a net loss after tax of $86.9 million, compared to $131.9 million in the prior year.

While revenue was down $7.6 million for the year, EBITDA was up $24.9 million over the prior period, excluding specific items, which included valuation & impairment losses on assets, and restructur­ing & other nonrecurri­ng items.

Theme parks continued to be challenged by border restrictio­ns and snap lockdowns, with revenue down $18.5 million, and EBITDA excluding specific items showing a slight decrease of $2.6 million on the prior period.

However, strong annual pass sales, a lower cost base, and a more discipline­d approach to capital expenditur­e have mitigated its impact.

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