Tag Archives: $ALG.AX

Ardent Leisure Group (ALG.AX), mcap=$252m, price $0.53 vs $0.54

The operator of Australia-based theme park operator at 2x historical EBITDA.
Recently sold its non-theme park business and distributed part of the proceeds to shareholders.
Has $A190m of cash on the balance sheet vs A$260m market cap.
Historically theme park operations generated A$30-$35m of EBITDA.
The business was hit by a fatal accident and then covid, causing significant growth in attendance and refurbishment investments.
Traffic already starting to recover to pre-accident / pre-covid levels and earnings are expected the follow.
Rumored interest from ‘global PE fund’ in the ALG theme park business.
Ownership of unutilized land provides further upside.