Merlin Entertainments has released its financial results for 2025, reporting a drop in attendance and revenue from the prior year.
Revenue in 2025 was £1,999 million, down 1.6 percent compared to 2024, when Merlin's revenue was £2,057m.
Last year, Merlin's attractions and experiences welcomed 60.5 million guests, compared to 62.8 million visitors in 2024.
Fiona Eastwood, CEO of Merlin Entertainments, said 2025 was "a transitional year for Merlin, during which we took decisive action to stabilise the business and strengthen its financial and operational foundations".
She added: "We simplified our operating model, reinforced cost discipline, established a new growth function, and strengthened our leadership team, creating a leaner and more unified organisation."
Eastwood said the company is now in "a stronger position" to maximise the value of Merlin's portfolio.
"While the external environment remained challenging, our proactive steps delivered a clear improvement in performance as the year progressed," she said.
As part of its strategy last year, Merlin increased its collaborations with leading brands, and announced plans for the world's first Lego Harry Potter land and Harry Potter-themed accommodation at Legoland Deutschland.
Merlin's themed accommodation plans
The company also launched its 11th Legoland resort in Shanghai, its third Peppa Pig Theme Park in Dallas-Fort Worth, and a new Sea Life aquarium at Legoland Florida.
Additionally, it strengthened its partnership with the Lego Group, debuting the first-ever Lego Festival at seven Legoland resorts, and investing £70m in two US Legoland resorts.
"Looking ahead, we are seeing positive momentum in Q1 2026 with an exciting pipeline of new rides and experiences opening as the main season gets underway," Eastwood said.
Merlin is also increasing its focus on themed accommodation, which is "at the heart of our strategy", Eastwood added.
"Our position as the partner of choice for owners of the world’s most beloved brands is confirmed by Mojang Studios working with us to build the first-ever Minecraft accommodation, and Warner Bros. Discovery Global Experiences helping us create the first-ever Harry Potter accommodation," she said.
"We have turned a corner and are firmly on the path to improved profitability and sustainable growth.
"Merlin is now a stronger, more disciplined and more resilient business."
Images courtesy of Merlin
