Steve Burns of Hollywood Bowl: Final results saw record revenues up 49.2% to £193.7m and strong balance sheet provides confidence in the future

Episode 1091,   Dec 22, 2022, 10:07 AM

Steve Burns, CEO of Hollywood Bowl #BOWL discusses their final results which saw record revenues up 49.2% to £193.7m, free cash flow up 142.6% to £34.8m and has confidence in the future backed up by a strong balance sheet with cash of £56.1m and no debt.


Excellent FY2022 performance supported by strong customer demand

·  28.3% LFL revenue growth compared to FY2019

·  Record revenues of £193.7m, up 49.2% compared with FY2019 (FY2019: £129.9m)

·  Group adjusted EBITDA (pre-IFRS) of £60.6m, an increase of 58.6% to FY2019 (£38.2m)

Innovation and technology investment driving 8.4% higher spend per game (SPG) and excellent customer satisfaction scores

·  Games LFL volumes increased by 18.3%

·   Total amusement revenues grew 49.9% compared with FY2019 and food and drinks revenue increased by 18.6% despite a reduction in average menu prices

·  Continued rollout of Pins on Strings with 15 centres completed in FY2022, bringing the total completed to 41 (65% of the estate) with returns in line with expectations

·  Improved overall net promotor score to 61%, up 6.1%pts vs. FY2019

Strong balance sheet and continued significant cash generation

·  Updated capital allocation policy (with FY2025 net cash ratio5 target of 0.5X) focused on profitable growth and shareholder returns

·  Final ordinary dividend and special dividend declared

To read the full RNS click here