Merlin Attractions Operations Limited
Registered name: MERLIN ATTRACTIONS OPERATIONS LIMITED
Part of Motion Jvco Limited groupMerlin Attractions Operations Limited made £550m revenue and a £76.9m loss in the year to 27 Dec 2025.
Merlin Attractions Operations Limited’s revenue fell 6% to £550m in the year to 27 Dec 2025, with a loss of £76.9m and 6,446 employees. The company is classified under “activities of head offices” and is based in London; we hold 4 years of its filed accounts.
- Status
- Active
- Location
- London
- Age
- 19 yrs · since 2007
- Type
- Private Limited Company
Key figures
Financial history
| Year to | 28 Dec 2023 | 27 Dec 2024 | 28 Dec 2024 | 27 Dec 2025 |
|---|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L | Full P&L |
| Profit & loss | ||||
| Revenue (turnover) | £586m | £583m | £583m | £550m |
| Cost of sales | −£103m | −£110m | −£110m | −£102m |
| Gross profit | £483m | £473m | £473m | £449m |
| Operating profit | £112m | £46.4m | £46.4m | £21.2m |
| Profit before tax | £47.5m | −£32.9m | −£32.9m | −£70.9m |
| Profit after tax | £26m | −£49.2m | −£49.2m | −£76.9m |
| Profit (best available) | £26m | −£49.2m | −£49.2m | −£76.9m |
| Employees (average) | 6,635 | 6,959 | 6,959 | 6,446 |
| Ratios | ||||
| Profit margin | 4.4% | −8.5% | −8.5% | −14% |
| Gross margin | 82.5% | 81.1% | 81.1% | 81.5% |
| Revenue per employee | £88.3k | £83.8k | £83.8k | £85.4k |
| Profit per employee | £3.9k | −£7.1k | −£7.1k | −£11.9k |
| Growth (year on year) | ||||
| Revenue growth | — | ▼0.5% | — | ▼5.6% |
| Profit growth | — | ▼289.6% | — | — |
| Headcount growth | — | ▲4.9% | — | ▼7.4% |
| Balance sheet — indirect signals, not revenue | ||||
| Net assets | — | — | — | — |
| Source | Accounts · bulk data Oct 2025 | Accounts · bulk data Oct 2026 | Accounts · bulk data Oct 2025 | Accounts · bulk data Oct 2026 |
How the business works
- Profit margin
- −14%
- Profit ÷ revenue.
- Gross margin
- 81.5%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £85.4k
- Revenue ÷ average employees.
- Profit per employee
- −£11.9k
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- —
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- —
- Money owed by customers. Low = customers pay quickly.
Balance-sheet signals
Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.
- Net assets
- —
- Now —
- Cash at bank
- —
- Now —
- Headcount
- ▼7%
- Now 6,446
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Motion Jvco Limitedultimate parent75–100%
- Motion Topco Limited75–100%
- Motion Midco Limited75–100%
- Motion Acquisition Limited75–100%
- Merlin Entertainments Limited50–75%
- Charcoal Newco 1 Limited75–100%
- Merlin Entertainments Group Holdings Limited75–100%
- Charcoal Midco 1 Limited75–100%
- Merlin Attractions Operations Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (9)
- London Dungeon LimitedFigures not disclosed
- Madame Tussaud's LimitedFigures not disclosed
- Merlin Entertainments Holidays LimitedFigures not disclosed
- Sea Life Centres LimitedFigures not disclosed
- The London Planetarium Company LimitedFigures not disclosed
- The Seal Sanctuary LimitedFigures not disclosed
- The Tussauds Group LimitedFigures not disclosed
- Tussauds LimitedFigures not disclosed
- Warwick Castle LimitedFigures not disclosed
Sister companies (2)
- Alton Towers Resort Operations LimitedFigures not disclosed
- Thorpe Park Operations LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from accounts for the year to 27 Dec 2025 (profit −£76.9m), from the Companies House accounts bulk data published Oct 2026. Spotted an error? Request a correction.
Updated from Companies House on 20 Oct 2026
Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.