Whistler Blackcomb Holdings Inc. reported revenue and EBITDA increased as a result of higher lift ticket prices, more spending per visit and record season pass and frequency card sales.



The company reported revenues reached $132.2 million for the three months ended March 31, up 5.4 percent from a year earlier. Revenues for the six months ended March 31 increased 4.5 percent to $182.5 million.

“During the quarter, our regional market continued to exhibit strength, with increased skier visits and record season pass and frequency card sales, said Dave Brownlie, president and CEO. We also generated increased guest spending per visit during the first half of 2013. As a result, we continued to drive revenue and EBITDA growth and I am pleased with our performance to date this year. As we prepare for our upcoming summer season, our team is focused on building on the momentum that our business experienced last year.”

As of March 31, 2013, total pass and card sales reached $43.8 million, representing a new record for Whistler Blackcomb and exceeding last year’s record sales to March 31, 2012.

Skier visits were 1.33 million and 1.79 million for the three and six months ended March 31, 2013 which represents decreases of 8,000, or 0.6 percent, and 8,000, or 0.4 percent, respectively, over the same periods in the prior year.


ETP was $53.44 and $52.36 for the three and six months ended March 31, 2013, respectively, which represents increases of $2.13, or 4.2 percent, and $1.90, or 3.8 percent, respectively, over the same periods in the prior year. The increase in ETP was driven primarily by increased pricing.

Operating expenses were $50.3 million and $83.0 million for the three and six months ended March 31, 2013, respectively, which represent increases of $2.1 million, or 4.4 percent, and $3.8 million, or 4.8 percent, respectively, over the same periods in the prior year. The increase was primarily driven by the higher sales volume experienced during the period resulting in increased labor and benefits costs, and increased cost of sales in the Corporation’s food & beverage and retail and rental divisions. EBITDA increased by 6.2 percent and 4.9 percent to $73.7 million and $84.0 million in the three and six months ended March 31, 2013, respectively.

Net earnings per common share (basic and diluted) were $0.87 and $0.80 for the three and six months ended March 31, 2013, respectively, compared to net earnings per common share (basic and diluted) of $0.81 and $0.76 for the three and six months ended March 31, 2012.