Six Flags Entertainment Corporation · NYSE:FUN
Six Flags Entertainment — Investor Presentation (September 2024)
24 slides from Six Flags Entertainment's investor presentation, September 2024
Slide 1: Investor Presentation September 2024
Investor Presentation September 2024
Slide 2: Forward-Looking Statements
Forward-Looking Statements Some of the statements contained in this report (including the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section) that are not historical in nature are forward-looking statements within the meaning of the federal securities law
Slide 3: Six Flags: Merger Creates Compelling Investment Opportunity
Six Flags: Merger Creates Compelling Investment Opportunity Enhanced Scale and Market Position o Largest and most diverse amusement park operators with 42 parks across North America Geographic Diversification o Reduces regional weather-related risks and mitigates seasonal earnings volatility Signifi
Slide 4: Six Flags Governance – Decades of Industry Leadership
Six Flags Governance – Decades of Industry Leadership Executive Leadership Board Leadership Richard Zimmerman Selim Bassoul Chief Executive Officer Executive Chairman and Director Tim Fisher Chief Operating Officer Dan Hanrahan Lead Independent Director Brian Witherow Chief Financial Officer Brian N
Slide 5: Merger Rationale
Merger Rationale 3 2 4 Efficiencies from consolidation Benefits Economic of scale Flexibility 1 5 Equity Enhance guest structure experience Equity structure. Investor participation in significant growth and value-accretive potential through tax-efficient 1 transaction Benefits of scale. Mitigates th
Slide 6: Attractive Portfolio of Park Assets Across North America
Attractive Portfolio of Park Assets Across North America COMBINED ASSETS (POST MERGER) 27 Amusement parks 15 Water parks 9 Resort properties with 2,300+ rooms and 600+ cabins / campground sites 6
Slide 7: Diversified Geographic Footprint
Diversified Geographic Footprint Helps Mitigate Weather-Related and Seasonal Earnings Volatility Northeast 17% Midwest 29% South 27% West 27% Regional balance ensures that no single park contributes more than 17% of park-level Adjusted EBITDA, and no single region contributes more than 30%. Note: Ge
Slide 8: Strategically Positioned in All Top-10 DMAs
Strategically Positioned in All Top-10 DMAs Major Six Flags Parks Near Fast-Growing and Desirable Metro Areas Across North America • Proximity to major metro areas benefits guests who can easily drive to parks • 250 million people live within 100 miles of Six Flags parks(1) 1 Based on a 2023 survey
Slide 9: Expanded Portfolio Offers Well-rounded Guest Experience
Expanded Portfolio Offers Well-rounded Guest Experience Amusement Parks 11 + 16 = 27 Water Parks 4 + 11 = 15 Hotels / Resort Properties 7 + 2 = 9 Campgrounds 4 + 2 = 6 Safaris / Animal Experiences - + 2 = 2 Sports Facilities 2 + - = 2 Marinas 3 + - = 3 9
Slide 10: World’s Largest Regional Amusement Park Company
World’s Largest Regional Amusement Park Company Currently Well Positioned The Opportunity Strategically located in desirable and growing 1 metro areas $200 million of total synergies over next 36 mos. Attractive real estate portfolio of iconic parks All Parks Season Pass across 42 properties 2 and r
Slide 11: 2024 Season Passes and 2025 All Park Pass Opportunity
2024 Season Passes and 2025 All Park Pass Opportunity Combined Active Base 7.6 million passes sold “Traditional” Season Pass “Traditional” Season Pass Passes valid from launch through AND Membership following calendar year Offered for the 2025 Season Monthly subscription that auto-renews in 13th mon
Slide 12: Six Flags Business Approach – Key Principles
Six Flags Business Approach – Key Principles Guest satisfaction is vital to our long-term success and makes everything P1 we do as a business easier to achieve Strategically investing marketable capital into the business drives growth P2 and ensures the long-term sustainability of our business We ar
Slide 13: 42 Parks to Maximize Growth Opportunities
42 Parks to Maximize Growth Opportunities FY-2023 Financial Metrics1 Parks 15 27 42 Attendance 27 million 22 million 49 million Revenue $1.8 billion $1.4 billion $3.4 billion4 (Inc. Uplift) Adjusted EBITDA2,3 $528 million $462 million $1.2 billion4 (Incl. Synergies) Adjusted | Modified 36%4 29.3% 35
Slide 14: Legacy Cedar Fair 2Q-2024 Results
Legacy Cedar Fair 2Q-2024 Results 3 Months Ended Year-over-year (same-week basis) June 30, 2024 commentary +4% growth (despite 33 fewer operating days) driven primarily by a larger Attendance 8.6 million guests season pass base and continued recovery of the group channel In-Park Per Capita (3%) decl
Slide 15: Legacy Six Flags 2Q-2024 Results
Legacy Six Flags 2Q-2024 Results 3 Months Ended Year-over-year June 30, 2024 commentary Attendance 6.9 million guests (2%) driven by timing of Easter holiday and 58 fewer operating days Total Guest Spending $61.22 +1% growth with most channels showing improvement Per Capita(1) In-Park Spending Per $
Slide 16: Capital Structure – Solid and Flexible
Capital Structure – Solid and Flexible Amounts in $MM $1,800 $1,600 $1,400 $800 $1,200 $500 $1,000 $800 $600 $1,000 $1,000 $400 $850 $850 $200 $300 $200 $0 2025 2026 2027 2028 2029 2030 2031 2032 Revolver Capacity(a) Term Loan B Senior Notes (a) Revolving credit facility maturity is subject to restr
Slide 17: Path to Net Leverage Reduction
Path to Net Leverage Reduction 17
Slide 18: Appendix
Six Flags Entertainment Corporation NYSE: FUN Appendix
Slide 19: Adjusted EBITDA Reconciliation (Legacy Cedar Fair)
Adjusted EBITDA Reconciliation (Legacy Cedar Fair) 19
Slide 20: Table of Key Operational Measures (Legacy Cedar Fair)
Table of Key Operational Measures (Legacy Cedar Fair) 20
Slide 21: Adjusted EBITDA Reconciliation Three- and Twelve-Months Ended Dec. 31, 2023 (Legacy Cedar Fair)
Adjusted EBITDA Reconciliation Three- and Twelve-Months Ended Dec. 31, 2023 (Legacy Cedar Fair) 21
Slide 22: Adjusted EBITDA Reconciliation (Legacy Six Flags)
Adjusted EBITDA Reconciliation (Legacy Six Flags) 22
Slide 23: Adjusted EBITDA Reconciliation Three- and Twelve-Months Ended Dec. 31, 2023 (Legacy Six Flags)
Adjusted EBITDA Reconciliation Three- and Twelve-Months Ended Dec. 31, 2023(a) (Legacy Six Flags) (a) See next slide (page 24) for footnotes 23
Slide 24: Adjusted EBITDA Reconciliation Footnotes (Legacy Six Flags)
Adjusted EBITDA Reconciliation Three- and Twelve-Months Ended Dec. 31, 2023 Footnotes (Legacy Six Flags) 24
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