Half Year 2025 Hollywood Bowl Group PLC Earnings Call Transcript
Key Points
- Hollywood Bowl Group PLC (FRA:2H4) reported record revenues of £129.2 million, an 8.4% increase from the previous year, despite increased costs.
- The company successfully opened five new centers, three in the UK and two in Canada, and completed six refurbishments, all on track to deliver expected returns.
- The group ended the half-year with a net cash position of £22.7 million, even after a £10 million share buyback.
- Canadian operations showed strong performance with like-for-like center growth of 3.7% and significant revenue contributions from new centers.
- The company renewed its revolving credit facility on more favorable terms, which remains undrawn, providing financial flexibility for future investments.
- Revenue growth was negatively impacted by the closure of the Hollywood Bowl Center in Surrey Keys and the refurbishment closure of the Edge Lane, Liverpool center.
- Game volume in the UK decreased by 4.5%, affected by weather conditions and competition from other socializing offerings.
- The Canadian business faced challenges due to forex movements, resulting in a £1.2 million impact due to a weaker Canadian dollar.
- Inflationary pressures, including national minimum wage increases and business rates, have significantly impacted costs.
- The company faces challenges in replicating its UK operational culture and team development in its Canadian operations.
Good morning and welcome to the Hollywood Bowl Group PLC analyst meeting. Those online questions can be submitted at any time by the Q&A tab situated on the right of all your screen. So hi from your questions and press send. I'd now like to Stephen Ferns, the good morning sir.
Thank you very much and good morning everyone.
Thank you to everyone for taking the time to attend our financial, year 25 half year results presentation. I'm going to take you through the key highlights of the half and our operational highlights in both the UK and Canada. Lawrence will take you through the numbers and the financial outlook. We'll then take any questions from the room first and then from those who have dialed in.
So the first half of our financial year has been a record performance for the group, with revenues of 129.2 million, up 8.4% on the same period last year, and despite the increased cost burden, record EBITA of 38.8 million. We opened five new centers in the
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