Wonderla Holidays held a conference call on 17 May 2024 to discuss the results for the quarter ended March 2024 and way forward. Mr. Arun Chittilappilly, Managing Director and Mr. Saji K Louiz, Chief Financial Officer of the company addressed the call.

Highlights of the Concall

• EBITDA for the quarter was down 28% YoY at Rs 40.5 crore due to reduction in footfall, increase in payroll expenses and reduction in other income.

• Footfalls for Q4FY24 fell 12% at 7.09 lakh against 8.04 lakhs during Q4FY23. Footfalls for FY24 was down 2% at 32.52 lakh as against 33.11 lakh during FY23.

• ARPU (average revenue per user) in Q4FY24 stood at Rs. 1349, an increase of 14% YoY while for FY24 it stood at Rs. 1430, an increase of 15% YoY.

• Bengaluru park revenue decreased 13% in Q4FY24 to Rs 35.9 crore compared to Q4FY23. ARPU increased 14% to Rs 1477. Average ticket price rose 11% to Rs 1060 and Average non ticket price increased 21% to Rs 417.

• Wonderla Bengaluru Park footfall decreased 10% to 2.43 lakh in Q4FY24 compared to Q4FY23 while for FY24 it was up 5% to 12.7 lakh.

• Kochi park revenue decreased 16% in Q4FY24 to Rs 29 crore compared to FY23. ARPU increased 16% to Rs 1246. Average ticket price rose 15% to Rs 921 and average non ticket price increased 21% to Rs 325.

• Wonderla Kochi Park footfall fell 23% to 2.32 lakh in Q4FY24 compared to Q4FY23 while for FY24 it decreased 9% to 10.33 lakh.

• Hyderabad park revenue increased 6% in Q4FY24 to Rs 31 crore compared to Q4FY23. ARPU increased 10% to Rs 1319 - average ticket price rose 8% to Rs 906 and average non ticket price increased 16% to Rs 413.

• Wonderla Hyderabad Park footfall rose 0.4% to 2.34 lakh in Q4FY24 compared to Q4FY23 while for FY24 it decreased 2% to 9.49 lakh.

• Wonderla resort Bengaluru revenue increased 18% in Q4FY24 to Rs 4 crore compared to Q4FY23. Average room rental increased 2% to Rs 5403. Occupancy rate was 51% in Q4FY24 compared to 48% in Q4FY23s

• The company mentioned that Odisha Park will be opened to public from 24th of May 2024 while it hopes Chennai park to operationalize in Q3FY'26.

• The company do not see huge footfall growth potential in Bangalore and Kochi park as these are old assets and running at almost full capacity but expects significant footfall growth potential in Hyderabad. The company expects footfall growth of around 5% in FY25 from existing parks and ARPU growth to be around 10-12%. The company expects the next phase of growth will come from newer parks.

• The company talks with multiple state governments to have Wonderla as tourism destination has been hold for this quarter due to elections.

• The company is hoping to achieve at least 4 lakh footfalls in recently opened Bhubaneshwar park with ARPU of arond Rs 800-1000 in FY25.