- Operating revenue increased 20.8% to $116.5 million, while Theme Parks & Attractions EBITDA excluding specific items rose 113.6% to $18.8 million.
- Consolidated EBITDA excluding specific items increased 236.5% to $13.8 million, compared with $4.1 million in FY25.
- Consolidated NPAT returned to a $6.1 million profit, compared with a $0.1 million loss in FY25.
- Cash increased to $35.0 million, with no drawn Debt and a fully undrawn $20 million bank facility at 30 June 2026.
Coast Entertainment Holdings Limited (ASX:CEH) shares were trading at $0.53 on 21 August 2026 at 10:20am, down 1.85%, or $0.01, despite the operator of Dreamworld and SkyPoint reported a substantial improvement in FY26 financial performance. Operating Revenue rose 20.8% to $116.5 million, while consolidated EBITDA excluding specific items increased 236.5% to $13.8 million. The group also returned to net profitability, although July trading showed some moderation in year-on-year growth.
Theme Park Demand Drives Revenue Growth
Coast Entertainment recorded 2.0 million visits during FY26, an increase of 29.3% from the prior year and 26.5% on a like-for-like basis. Ticket sales increased 33.0%, or 24.0% on a like-for-like basis.
The first full-year contribution from Rivertown at Dreamworld and the launch of King Claw in December 2025 were important contributors to higher visitation. The company also reported its highest-ever daily attendance during the peak summer holiday period.
International visitation remained below historical levels, particularly from China, but increased domestic demand helped offset this weakness. SkyPoint also recorded its highest revenue to date.
Operating revenue increased 20.8% to $116.5 million, while Food & Beverage and Retail revenue reached records during the year. The deferred revenue balance increased 58.7% to $20.2 million, largely reflecting higher annual pass sales.
Theme Parks & Attractions EBITDA excluding specific items more than doubled to $18.8 million from $8.8 million in FY25. Higher revenue and cost management contributed to the improvement.
Consolidated EBITDA excluding specific items increased 236.5% to $13.8 million from $4.1 million. After depreciation, amortisation, interest and tax, the group recorded consolidated NPAT of $6.1 million, compared with a $0.1 million loss in FY25.
The reported FY26 period contained 53 weeks, compared with 52 weeks in FY25. Coast Entertainment has therefore also provided like-for-like comparisons against a pro forma 53-week period to provide a more consistent measure of operational performance.
Corporate costs excluding specific items increased modestly by $0.3 million to $5.0 million, indicating that the improvement in consolidated EBITDA was primarily driven by the operating businesses.
Coomera Land Approval Changes Asset Position
A significant development outside the core trading performance was planning approval for Coast Entertainment’s 55-hectare Coomera landholding. The approval expands the potential uses of the property and creates additional Options for future development.
Following the approval, an independent valuation placed the Fair Value of the Dreamworld property at $295.9 million as at 31 July 2026. This included a $52.0 million increase in gross value associated with surplus land adjoining Dreamworld and WhiteWater World.
A further potential gross uplift of $38.5 million has been identified from a higher and better use of the existing car park area, although achieving this would require relocation of current parking facilities and additional development work.
The valuation was received after 30 June 2026 and therefore does not affect the FY26 financial statements. The company has engaged Barrenjoey Advisory to review Capital and funding options related to the land, but no decisions or commitments have yet been made.
Balance Sheet Remains Debt-Free
Coast Entertainment ended FY26 with $35.0 million in cash, up $1.1 million from the previous comparable date. The group generated positive Operating Cash Flow during the year, funding $16.0 million of Capital Expenditure and $3.7 million of share buybacks.
The company also renewed and increased its bank Facility to $20 million. The facility remained fully undrawn at the reporting date, leaving the group without drawn debt and providing additional funding capacity.
Available tax losses were $136.1 million, representing a potential tax benefit of $40.8 million, although only $4.4 million was recognised on the balance sheet.
Trading in July 2026 remained positive, although the pace of growth moderated compared with FY26. On a like-for-like basis, ticket sales were slightly below the prior period, while visitation increased 12%.
Revenue for July increased 10%, or 7% on a like-for-like basis. EBITDA excluding specific items increased 4% on a reported basis but declined 7% on a like-for-like basis.
The comparison was affected by the shift in trading dates associated with FY26’s 53-week calendar and the timing of the previous year’s end-of-financial-year promotion. Deferred income was 27% above July 2025, while SkyPoint again recorded its highest July revenue.
Coast Entertainment’s FY26 results mark a substantial improvement in operating and financial performance, with revenue increasing 20.8%, Theme Parks & Attractions EBITDA more than doubling and the group returning to a $6.1 million statutory profit. The Balance Sheet also remained debt-free with $35.0 million in cash and an undrawn $20 million facility. However, July’s like-for-like EBITDA decline shows that the FY26 growth rate may not continue at the same pace, while consumer spending, tourism conditions and the timing of new attractions remain relevant operating factors. The newly approved Coomera landholding adds another strategic dimension to the company, although its potential financial contribution will depend on future development and capital decisions.
