Six Flags Entertainment Corporation · NYSE:FUN
Six Flags Entertainment — Six Flags Entertainment Corporation/NEW — Q3 2024 Earnings Presentation
12 slides from Six Flags Entertainment's earnings presentation, Nov 6, 2024
Slide 1: Project Accelerate Q3-2024 Earnings Call
Project Accelerate Q3-2024 Earnings Call November 6, 2024
Slide 2: Forward-Looking Statements
Forward-Looking Statements Some of the statements contained in this report that are not historical in nature are forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange A
Slide 3: World's Largest Regional Amusement Park Company Poised to Drive Enhanced Shareholder Value
World’s Largest Regional Amusement Park Company Poised to Drive Enhanced Shareholder Value 3 Portfolio of iconic parks and resorts in attractive and growing metro areas Unique product offering well positioned to grow additional share in the highly competitive leisure space Geographic diversification
Slide 4: Our Playbook for Driving Long-Term Success
Our Playbook for Driving Long-Term Success 4 Maintaining and increasing guest satisfaction is vital to unlocking long-term growth opportunities1 Strategically investing marketable capital back into the business drives growth and ensures the long- term sustainability of our business, even in challeng
Slide 5: Project Accelerate – Key Objectives
1. Enhanced Guest Experience • Invest in the guest experience to deliver a stronger price-value proposition and drive demand 2. Margin Expansion • Identify and activate operating efficiencies that generate cost synergies and drive margin expansion 3. Disciplined Capital Allocation • Maintain a disci
Slide 6: Disciplined Reinvestment to Drive Top Line Growth
Disciplined Reinvestment to Drive Top Line Growth 6 Meaningful opportunities to drive revenue growth through higher levels of attendance and guest spending Out-of-Park Revenue Channels • Upgraded and expanded resort offerings • Improved revenue management capabilities aimed at improving resort ADR’s
Slide 7: Disciplined CAPEX Strategy
Disciplined CAPEX Strategy 7 Core Marketable CAPEX • Maintain park infrastructures • Upgrade critical systems • Investments include – upgrades to information systems, guest- facing technologies, park utilities, park midways, restrooms, etc. 9–10% of revenues Core Infrastructure CAPEX Total Normalize
Slide 8: Timing of Cost Synergies
Timing of Cost Synergies 8 $120MM of merger related cost synergies FY’24 • Standalone operating cost reductions in legacy portfolios • Initial phase of organizational restructurings • Elimination of duplicative overhead costs ~$50MM FY’25 • Elimination of redundant processes / technologies • System
Slide 9: Summary of Long-Term Targets
Summary of Long-Term Targets 9 Attendance Modified EBITDA Margin (2) Unlevered Pre-Tax Free Cash Flow (3) Net Total Leverage (4) >35% in FY’27 >$800M Unlevered Pre-Tax FCF in FY’27 <3.5x Adj. EBITDA by end of FY’27 >55M guests in FY’27 Driving Profitable Growth Through Ambitious, Productive and Meas
Slide 10: Footnotes
Footnotes (1) Normalized CAPEX represents expected calendar-year capital spend on a go forward basis, excluding M&A, and is not necessarily representative of historical CAPEX spending. (2) Modified EBITDA margin is calculated as Modified EBITDA divided by net revenues. Modified EBITDA represents ear
Slide 11: Footnotes (cont.)
Footnotes (cont.) (4) Net Total Leverage is a non-GAAP financial measure calculated as Consolidated Debt (as defined in the Combined Company’s credit agreement) less cash and cash equivalents divided by Adjusted EBITDA. Net Total Leverage is not computed in accordance with GAAP and may not be compar
Slide 12: Investor Relations
Investor Relations investors.sixflags.com Ph. 419.627.2233
Six Flags Entertainment Corporation/NEW — Q3 2024 Earnings Presentation on 6ix