EURO DISNEY S.C.A.
Fiscal Year 2009
Reports First Half Results
Six Months Ended March 31, 2009
- Record attendance at 7.1 million and strong occupancy at 86%, despite a shift in the Easter vacation period
- Resort revenues down 4% to € 554 million, due to lower guest spending and a 3 percentage point decrease in occupancy
- Real Estate revenues down € 20 million to € 5 million, driven by one significant sale in the prior year
- Net loss increased by € 42 million to € 85 million due to lower revenues, as costs and expenses remained stable
Commenting on the results, Philippe Gas, Chief Executive Officer of Euro Disney S.A.S, said:
"We achieved record attendance for the first semester and strong occupancy levels in our hotels. Our sales initiatives are delivering results in an increasingly difficult economic environment.
Our revenues decreased this semester which negatively impacted our results. This decrease was mainly due to a decline in real estate activities as well as a shift of the Easter vacation period into the second semester. Our Spanish and English markets declined significantly during the first semester, partially offset by a strong performance from our French market. We reacted to these changes by increasing our sales initiatives, while at the same time continuing to pursue disciplined cost management.
We continue to improve the appeal of Disneyland Resort Paris. We recently launched Mickey's Magical Party across both parks, with four new interactive shows and a new attraction. We remain committed to continuing this development of new content and attractions inspired by Disney characters and stories."