Dynamic Technologies, specialists in design engineering, production and commissioning of media-based attractions and ride systems for the global theme park industry, has released its annual revenue report for 2020.
Revenue decreased to $69.8m in 2020, a 37% drop since 2019. However, EBITDA improved by $8.5m to a gain of $2.9m from a loss of $5.6m in 2019.
Dynamic Technologies witnessed a net loss of $12.6m in 2020 and a net loss of $27.1m in 2019. Cash used in operating activities improved to $2.3m in 2020, compared to $31.0m in 2019.
Guy Nelson, executive chairman and CEO of Dynamic Technologies, made a statement on the annual revenue report: “We are continuing our drive towards a recurring revenue business model based on co-ventures. The impact of the Covid-19 global pandemic on the theme park industry has brought into sharp focus the need to diversify our revenue streams.
“We expect that theme park capital expenditures will return to pre-pandemic levels in due course, at which time they will continue to be a revenue and earnings driver for us. However, we are determined to leverage our attractions IP to access the capital markets, thereby creating revenue streams that provide more predictable revenue and earnings independent of theme park ride sales,” Nelson continued.