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Annual Report 2017
ANNUAL REPORT 2017 › MORE ATTRACTIONS › MORE MARKETS DYNAMIC ATTRACTIONS HAS WON IAAPA’S ‘BEST NEW ATTRACTION’ THREE YEARS IN A ROW TABLE OF CONTENTS Who We Are 3 Report to Shareholders 4 Strategic Vision & Mission 11 How We Do It 12 Corporate Structure 19 Management’s Discussion and Analysis 20 Consolidated Financial Statements 44 Management’s Report 45 Auditors’ Report 46 Statement of Income 47 Statement of Financial Position 48 Statements of Changes in Shareholders’ Equity 49 Statements of Cash Flows 50 Notes to the Financial Statements 51 Empire Industries Global Footprint 74 IN 2017 WE WERE AWARDED THREE IDENTICAL RIDE SYSTEMS FOR THREE THEME PARKS, THE LARGEST EVER CONTRACT OF ITS KIND IN THE INDUSTRY WHO WE ARE Empire Industries creates technologically-advanced, specialized products, most notably, theme park attractions. Our businesses have a long, successful track record in engineering design and precision manufacturing extending back to 1926. Our Dynamic Structures business first entered the Attractions market in the late 1990’s. It has steadily grown to the point that our Dynamic Attractions business is the core of our operations. We are one of the leaders for the rapidly growing global market for immersive, media-based attractions. Our rides amaze guests with their high-tech mix of media and motion. Our rides can be found in the most popular theme parks in the US, Asia, Europe, and the Middle East. Empire’s other products and services are sold domestically and in select international export markets. Empire is listed on the TSX Venture Exchange, trading under the stock symbol EIL. -
2017 Amusement Industry Preview | North America
10 AMUSEMENT TODAY May 2017 2017 AMUSEMENT INDUSTRY PREVIEW | NORTH AMERICA Disney's Animal Kingdom, Orlando…Pandora - World of Avatar — new themed Compiled by Jeffrey Seifert land with Avatar Flight of Passage 3-D flight simulator; Na'vi River Journey — CANADA indoor boat ride Alberta Disney's Typhoon Lagoon, Orlando…ProSlide Power River Galaxyland, Edmonton...Zero Gravity — Chance Rides Unicoaster Fun Spot America, Kissimmee…Mine Blower — Gravity Group wooden coaster British Columbia Gaylord Palms Resort, Orlando…ADG Flowrider double and waterslides Playland, Vancouver...Bug Whirled — SBF Visa compact spinning coaster; Moser Gulfstream Park, Hallandale…Chance Rides 36' custom carousel Rides 10-meter tower ride; Flutterbye — Zamperla Magic Bikes Legoland Florida, Winter Haven…New Ninjago World themed area with Ninjago Ontario The Ride — TrioTech interactive dark ride, Beach Retreat resort accomodations Canada's Wonderland, Vaughan...Soaring Timbers — Mondial Inferno; Muskego Old Town, Kissimmee…Fabbri wheel Plunge — SplashTacular body slides including DrenalinDrop capsule Sun Splash, Cape Coral…Pirate's Cove — interactive water play structure Santa's Village, Bracebridge…SBF/Visa Triple spiral spinning coaster Universal Studios Florida, Orlando…Race Through New York Starring Jimmy Wild Water Kingdom, Brampton…Reopening of closed water park; two ProSlide Fallon — 3-D flying theater RideHouse waterplay structures Universal's Volcano Bay, Orlando…New water park with 18 ProSlide attractions Québec including RocketBlast water coaster Camping Atlantide, Saint-Calixte…Polin Space Hole and Wave Slide Georgia Bora Parc, Valcartier…New indoor water park (December 2016) with ADG/ Rigby's Water World, Warner Robins…New water park for existing FEC; WhiteWater attractions including body slides with AquaDrop capsules. -
Simex-Iwerks Helps Facilities Soar with New Flyride® Installs Warner Bros
issue 84, October 2020 inparkmagazine.com SimEx-Iwerks helps facilities soar with new FlyRide® installs Warner Bros. World Touchless technologies The technology behind Abu Dhabi’s Solutions for parks, attractions and museums seeking to minimize newest indoor theme park touch interactions for ticketing, touchscreens and more Meet the press Learn what drives the InPark editorial inner circle in our third installment of this four-part series Joe Kleiman, Martin Palicki, news editor publisher Question from Judith Rubin Question from Joe Kleiman hat’s the special something you bring to the InPark ou’ve traveled around the world to visit theme parks Wdynamic? Yand attractions and to meet with themed entertainment designers and manufacturers. What are some of your I have the thickest beard. Besides that, it would be the favorite memories traveling for InPark? understanding of niche markets within the attractions community - giant screen, museums, and the performing arts - an I made a conscious decision a few years back to focus most of understanding from working as a manager and director in these my travel each year on work-related trips, adding on side trips markets. I was also an IMAX projectionist and motion simulator when possible for fun. It was a smart decision. In addition to technician, and worked with animals in a couple of zoos and a being present at important industry events around the world, dolphin rescue facility, so those are fields I understand closely as there is so much to see and do out there that really helps inform well. All this experience has been put to good use at InPark. -
20171027-Theme-Park-Economics-Indesign-Marieke.Pdf
INTRODUCTION The Themepark Industry is seen by many as a special, different world. And the fig- ures show that the Themepark Industry is also running well. With 4.7 million visits for the Efteling (Looopings, 2017), 5.5 mil- lion visits to Europapark (Pretparkbeest, 2016) and no less than 9 million visits to Universal Studios Florida (Pretparkbeest, 2016). An interesting market, with pretty high marks, but how will this extract from DreamIsland? Then there are the external analysis in- cluding market analysis, environmental analysis, the population analysis and a benchmark of future theme parks and extensions. From these analyses is then a feasibility analysis. To understand the types of attractions and the capacity of the attractions that offers DreamIsland, there is a capacity analysis. And finally there will be a conclusion and an opinion is present- ed. The team wishes you happy reading! Best regards, The Research Team DREAMISLAND FEASIBILITY STUDY | PAGE 3 T O CONTNT DCRITION O INNT Page 4 CON TR WHY Page 5 INTRN NYI Page 6 TRN NYI Page 14 CACIT NII Page 24 DIION RIC Page 30 CONCUION DIC Page 37 IT O OURC Page 38 DREAMISLAND FEASIBILITY STUDY | PAGE 4 T R CONCTIN DCRITION O INNT ROU INNT s a roup there must be chosen a recently announced new theme park and ie an adice to the inestors whether to inest or not in this park. irst, there must be build a benchmark of relevant data. econd, there must be calculated the epected number of isitors, spendins, warranted and pro- ected inestment. At the end there must be a detailed site and concept reiew and a written adice for the inestors of the chosen park. -
Polin Unleashes Technology on Waterparks
Polin unleashes technology on #69 • volume 13, issue 4 • 2017 waterparks www.inparkmagazine.com Volcano Bay erupts Flying high Europe & Middle East Orlando’s newest waterpark Technology shapes the An analysis of developments draws crowds and changes way flying theater films are and projects planned for these the paradigm produced and experienced key global markets 1 inparkmagazine.com inparkmagazine.com Gold Sponsor2017 We Take Fun Seriously! Audio Video Projection Lighting Control Engineering Design Installation UAE - Germany - Finland - UK - Japan - Italy - China - USA 2 www.wartsila.com/funa inparkmagazine.com It’s elemental Game changers Martin Palicki, Judith Rubin, IPM publisher IPM editor As we have discussed in InPark before, we are The theme of this issue is “Game Changers” but in creatures drawn to water. But we are also enthralled truth, game changing has always been the name of the by the sky, seeking the thrill of flight and looking out game in this industry. Not only must providers and above the clouds. We also love racing alongside the operators compete with one another, they collectively ground, feeling wind in our faces. must compete with in-home entertainment. As an industry, we have relied on the elements of The game changers and leaders of the themed water, wind and earth for excitement from the start. entertainment industry are very distinguished indeed, And in this issue of InPark we delve into them all. considering they stand out in a business community that is, by nature, driven to constantly innovate, re- Flying theaters exemplify our fascination with flight. invent and re-invest. -
Project Thrill
Annual Shareholders Meeting November 2020 Reader Advisory This presentation contains forward-looking statements, within the meaning of applicable securities legislation, concerning Empire's business and affairs. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". These forward looking statements are based on current expectations, and are naturally subject to uncertainty and changes in circumstances that may cause actual results to differ materially. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking information is provided as of the date of this presentation, and Empire assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities laws. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this presentation. Page 2 Table of Contents Section I. Company Overview II. Dynamic Attractions Overview III. Dynamic Entertainment Overview IV. Dynamic Structures Overview V. Industry Analysis VI. Financials Highlights VII. Name Change Page 3 I. Company Overview Co-ventures Ride Business R&D Production & Delivery of Product R&D + Engineering Co-ownership of attractions Innovative Ride Systems Services Diversification • Turnkey developer, operator and co-owner of world class attractions in • Industry leading manufacturer of complex • Development of unique technologies, tourist based locations ride systems for major theme parks and solutions and products for Entertainment, regional amusement parks Transport & Infrastructure applications. -
Dubai Expo 2020
The National Comedy Center #72 • volume 14, issue 2 • 2018 www.inparkmagazine.com Dubai Expo 2020 Liberty Science Center Universal Studios Beijing Plans are coalescing in advance of Digital fulldome projection takes What do we know about China’s the highly anticipated expo planetarium guests to the stars next major theme park? 2 inparkmagazine.com Blind spots Creating destinations Martin Palicki, Judith Rubin, IPM publisher IPM editor imes have changed since theme parks and museums s an industry connector, InPark tends to look at Tfirst started welcoming guests primarily from their local Athe visitor attractions business from the project communities. Nowadays, a guest could well be visiting from viewpoint. Where is the work? Who are the players? What another continent, bringing with them a host of different are the trends? life experiences and values. We truly are living in a global village of entertainment and tourism. But we all know that a truly successful project is one that has an audience that grows year over year, and a positive This shrinking of the globe necessitates introspection – economic impact on its community. It must enhance its hopefully we see things with a wider, clearer perspective. location as a destination. If it is successful, it will likely also That’s why, today, we question things that formerly may be influential. have seemed benign. We take a fresh, more critical look at the bride auction scene in the original Pirates attraction, In this issue, we’ve explored a number of projects that or why a park in the American South might consign the promise to help transform their regions as catalysts of Confederate flag to history. -
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INSIDE: Dollywood building first launched wooden coaster Page 5 TM & ©2015 Amusement Today, Inc. September 2015 | Vol. 19 • Issue 6 www.amusementtoday.com Unique Utah diving coaster debuts Cannibal emerges from Lagoon, hunts thrill-seekers AT: Dean Lamanna feet) and a diving loop — along 2,735 feet of Cannibal sprang to life during the July 4th [email protected] track. The ride, lasting two and a half min- holiday weekend. Immediately, thrill ride Golden Ticket Awards FARMINGTON, Utah — The beast utes, achieves a top speed of 70 mph and superlatives like “outrageous” and “super- may have missed half the summer, but af- pulls as much as 4.2 Gs. scary” were flying and dramatic front seat registrations due; ter seven years of development encompass- Cannibal is Lagoon’s latest in-house POV footage appeared online. hotel deadline passes ing three years of construction, Lagoon, the coaster design effort since the installation For Lagoon enthusiasts who’d grown historic amusement park in northern Utah, of BomBora, a surfing-themed steel family impatient for the promise that had been NEW YORK CITY, N.Y. finally uncaged its wildly anticipated div- ride, in 2011. It also represents the park’s sprouting — and then sprawling — in the — Amusement industry ing coaster, Cannibal, in early July. second collaboration with ART Engineer- park’s North Midway section for so long, professionals planning to The park’s 10th roller coaster, Cannibal ing GmbH of Oberried, Germany. the wait was truly over. attend the 2015 Golden boasts a vertical lift inside a 208-foot-tall Following an extended period of Lagoon president David Freed, still Ticket Awards in New York tower with a nearly inverted 116-degree tweaking and sandbag testing that carried catching his breath from the marathon that City, Sept. -
FLYING THEATERS New Attractions Now Boarding
#62 • volume 12, issue 2 • 2016 www.inparkmagazine.com inpark 游乐园深度探索杂志 FLYING THEATERS New attractions now boarding around the world 飞行影院:全球新景点隆重登场 Japan India Waterparks Tourism outlook impacted Bollywood assets open up Finding global success in by Chinese travel IP opportunities tropical climates jbaae.com Grand Bazaar Shops - Las Vegas, NV DreamPlay - Manila, Philippines World of Color - Anaheim, CA The National WWII Museum - New Orleans, LA ACOUSTICS ARCHITECTURAL & SHOW LIGHTING AUDIOVISUAL 3D PROJECTION MAPPING & SYSTEMS CLIENT TECHNICAL DIRECTION DIGITAL SIGNAGE EXPERIENTIAL AUDIO ENVIRONMENTS INFORMATION & COMMUNICATIONS TECHNOLOGY SECURITY DESIGN CONSULTING SHOW CONTROL SYSTEMS SOUND REINFORCEMENT SPECIAL EFFECTS CODE CONSULTING ATLANTA | HO CHI MINH CITY | HONG KONG | IRVINE | LAS VEGAS | LOS ANGELES | MACAU | NEW ORLEANS | PHOENIX | SHANGHAI Las Vegas (702) 362 9200 | New Orleans (504) 830 0139 Exist Tourists and culture from through India begin to have an retail impact Martin Palicki, Joe Kleiman, IPM publisher IPM news editor t seems compulsory to mention Shanghai ccording to India’s National Council for Economic IDisneyland in this editorial. Everyone is talking AResearch, that country’s middle class is expected about all the benefits Disney’s entry into mainland to double over the next decade to 547 million China will bring to the industry. Experts and fans individuals. As with China, a dramatic increase in alike anticipate the quality of parks to rise across the the middle class will organically lead to growth in board. And while we collectively are most impressed the attractions sector. We’re seeing that already with with and tend to focus on the attractions found in the expansion of the waterpark industry in India parks, the real industry story is in the retail. -
Attractions Management Issue 4 2019
www.attractionsmanagement.com @attractionsmag VOL24 Q4 2019 www.simworx.co.uk [email protected] www.attractionsmanagement.com @attractionsmag VOL24 4 2019 SIR TIM DISNEYLAND PARIS SMIT Daniel Delcourt and David Wilson talk Eden Project €2bn expansion plan co-founder gains EU funding for geothermal energy project YVES PÉPIN Industry legend on creating large-scale spectaculars AMANDA THOMPSON IAAPA chair for 2020 maps out year ahead for the organisation www.animalive.com [email protected] www.animalive.com www.simex-iwerks.com/flysmarter Editor’s letter Planning for disaster Climate change is increasing the occurrence of natural catastrophes and putting pressure on the insurance industry, meaning it’s never been more vital for all attractions to have eff ective disaster plans in place e work in a very life-affi rming industry, committed to creating peak experiences for W people that form some of their most valued and precious memories. With such a positive mindset running through the sec- tor, it’s understandably tempting to always hope for the best and to focus on innovation, outreach, development, and growth, rather than spending time imagining the many disasters that could befall even the best prepared. So when things go wrong and a backward step is forced on us in the form of some kind of incident, it can be jar- ring from the point of view of organisation culture and leave attractions operators very exposed if emergency planning hasn’t been top of the to-do list. In this issue, we talk to attractions that have had to face huge challenges and setbacks as a result of fi res, Miami Zoo’s hurricane plan ensures a safe refuge for everyone fl oods, earthquakes, and accidents (see page 74). -
Investor Presentation January 2020
Investor Presentation January 2020 PRIVATE & CONFIDENTIAL TSXV: EIL OTC: ERILF Disclaimer This presentation contains forward-looking statements, within the meaning of applicable securities legislation, concerning Empire's business and affairs. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". These forward looking statements are based on current expectations, and are naturally subject to uncertainty and changes in circumstances that may cause actual results to differ materially. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking information is provided as of the date of this presentation, and Empire assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities laws. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this presentation. Page 2 Table of Contents Section I. Introduction II. Investment Highlights III. Company Overview IV. Industry Overview V. Financials Information Page 3 I. Introduction Business Overview / 1 Dynamic Co-ventures Dynamic Attractions Non-Core Assets Legacy investments in businesses with assets in Co-ownership of attractions Designs & build rides process of being sold • Operation and Co-ownership of • Turnkey supplier of premium standalone attractions worldwide entertainment attractions for theme parks and stand-alone tourist venues • The Group also provides maintenance and training for its ride systems ~10% stake • Holds IPs and licenses for the Co-ventures (TSXV:TGH) initiative 100% stake Manufacturing contracts 100% stake IP Master Licenses 1. -
Attractions Management Issue 4 2017
www.attractionsmanagement.com @attractionsmag VOL22 Q4 2017 www.simworx.co.uk www.simworx.co.uk [email protected] www.attractionsmanagement.com @attractionsmag VOL22 4 2017 ANALYSIS NEW Park safety: OPENINGS the human factor Zeitz REVIEW MOCAA Heatherwick's EXPO Cape Town ASTANA museum Postal Making Museum Riding the Sense underground An expert Mail Rail in guide to London multi-sensory design Cairns Aquarium A window Herschend's into Australia’s rainforest Jane and reef Cooper on Dolly Parton and the Harlem Globetrotters DAVID ATTENBOROUGH at the American Museum of Natural History www.anviovr.com [email protected] 4 attractionsmanagement.com AM 4 2017 ©CYBERTREK 2017 ©CYBERTREK 2017 AM 4 2017 attractionsmanagement.com 5 Check out the full catalog of SimEx-Iwerks Attraction and Ride Films here: simexdesign.com/content/2017 4D Experience® Theaters, Flying Theaters, Motion Ride Theaters, Interactive Attractions. Morehttp://simex-iwerks.com details: simex-iwerks.com/products2017 www.gatewayticketing.com blog.attractionsmanagement.com SCIENCE OF ATTRACTION DESIGN Neuroscientists, user experience designers and anthropologists are being drawn to work in the attractions industry. Their expertise is opening up the potential for us to create a new generation of even more immersive experiences which are emotionally rewarding his month we reported on work by Disney Research Composer Joel Beckerman, architect and writer Gordon Grice which has created a haptic system that enables and researcher and anthropologist Scott A Lukas talk us through T people to ‘feel’ fireworks using computerised water ways to understand the five senses and highlight how they can jets sprayed on flexible screens. be used to create more resonant experiences.