Results 1 to 6 of 6
  1. #1

    • Hitchhiker
    • Offline

    Join Date
    Jan 2005
    Location
    Finland
    Posts
    607

    EDL sca Third quarter: Going down, but investing

    EURO DISNEY S.C.A.
    Fiscal Year 2009
    Third Quarter Announcement
    Nine Months Ended June 30, 2009


    • Nine-month year-to-date revenues decreased 7% to € 867 million, reflecting a decline in guest spending, in real estate revenues and in hotel occupancy
    • Third quarter revenues decreased 7% to € 308 million, reflecting declines in guest spending and hotel occupancy

    Commenting on the results, Philippe Gas, Chief Executive Officer of Euro Disney S.A.S, said:

    "Consistent with the broader tourism industry in Europe, our revenues have been impacted by the challenging economic environment and consumer spending behavior. At the onset of the economic down turn, we implemented promotional offers to which our proximity markets in particular have responded. This decision has succeeded in driving attendance to Disneyland Paris, confirming the strong affinity for quality Disney entertainment, while at the same time impacting guest spending and margins.

    We are closely managing our costs and have curtailed certain capital spending in this current environment. However, in line with our long-term growth strategy we continue to invest in the resort and are developing new attractions to open next year."

    UPDATE ON RECENT AND UPCOMING EVENTS

    On May 22, 2009, the Company announced the nomination of Greg Richart to assume the responsibilities of Ignace Lahoud as Chief Financial Officer of Euro Disney S.A.S. For further information, please refer to the press release published on May 22, 2009 and available on the Company's website.

    The Group was involved in litigation with a counter party, seeking the refund of certain tax expenses made as from calendar year 2001 related to the Group's hotels. In July, the Group settled this matter and recognized € 7.1 million as a reduction of Costs and expenses during the fourth quarter. For further information on this matter, please refer to the Group's reference document registered with the Autorité des marchés financiers ("AMF") on December 18, 2008 under the number D.08-0795 and available on the Company's website.

    In the coming months, the Company will be sharing details of new attractions that have begun construction and will be opened next year.

    Source: EDL s.c.a. Press Release
    Last edited by Zarniwoop; 07-30-2009 at 12:23 PM.
    ----
    Cheers,
    Zarniwoop

  2. #2

    • Senior Minion
    • Offline

    Join Date
    Jun 2007
    Location
    Bloody miles away
    Posts
    6,904

    Re: EDL sca Third quarter: Going down, but investing

    I hope this makes them reduce their prices within the resort. Yes there are some good deals going to get there and stay there but the cost of food, drink and merchandise is truely scandalous and is one of the reasons I have not hurried back.
    WDW - 1987 & 1991
    DLP - 1996, 2004, 2006 & 2007
    DLR - October 2011





  3. #3

    • Rock The World
    • Offline

    Join Date
    Feb 2005
    Location
    UK
    Posts
    807

    Re: EDL sca Third quarter: Going down, but investing

    Quote Originally Posted by nathan detroit View Post
    I hope this makes them reduce their prices within the resort. Yes there are some good deals going to get there and stay there but the cost of food, drink and merchandise is truely scandalous and is one of the reasons I have not hurried back.
    Same here! I can't believe the price of a single day ticket is now in excess of €60!
    Quote Originally Posted by fizzog View Post
    Soundtracker you cheeky chipmunk

  4. #4

    • Banned User
    • Offline

    Join Date
    Jan 2005
    Location
    Guernsey, Channel Islands, United Kingdom
    Posts
    4,594

    Re: EDL sca Third quarter: Going down, but investing

    At the moment the operator can blame the free fall on the economic down turn, but with the World ecomony starting to show signs of improvement, buisness at the Resort should hopely improve soon, unless Swine Flu scares people away. Clearly Mickey's Magical Party has been a flop to some degree, but I wonder how much worst the results would have been without the event. Toy Story Land despite it sounding lame will increase capacity for the Studios and it will reverse the current downturn.

    Regarding the prices at the Resort being so high, would we really be that bothered if it was not for the case that the pound is so weak against the Euro recently. I think attracting people to the Resort with lower accomendation rates, makes sense as the rooms need filling. If DLRP want to charge more than fair enough, but it should offer a quality experience for the price. Crap like Mickey's Magical Party and broken AA's on Phantom Manor don't cut it with me.

  5. #5

    • Senior Minion
    • Offline

    Join Date
    Jun 2007
    Location
    Bloody miles away
    Posts
    6,904

    Re: EDL sca Third quarter: Going down, but investing

    Quote Originally Posted by Malin View Post

    Regarding the prices at the Resort being so high, would we really be that bothered if it was not for the case that the pound is so weak against the Euro recently.
    No. I have always considered the prices within the resort are far too high. Moreso now. As my father always said - 'you don't mind paying for quality but when you start to feel like your getting ripped off...'
    WDW - 1987 & 1991
    DLP - 1996, 2004, 2006 & 2007
    DLR - October 2011





  6. #6

    • Rock The World
    • Offline

    Join Date
    Feb 2005
    Location
    UK
    Posts
    807

    Re: EDL sca Third quarter: Going down, but investing

    Quote Originally Posted by nathan detroit View Post
    No. I have always considered the prices within the resort are far too high. Moreso now. As my father always said - 'you don't mind paying for quality but when you start to feel like your getting ripped off...'
    Quite. My own father recently made a rough comparison of prices for each of the Disney resorts we've been to over the past few years (Paris, Orlando and Tokyo) and, even taking the exchange rates into account, Paris was the most expensive!

    That was just a rough calculation, mind you. Perhaps someone with stronger maths skills than me could give us a direct comparison?
    Quote Originally Posted by fizzog View Post
    Soundtracker you cheeky chipmunk

Similar Threads

  1. Disney Investing In New Park Technology
    By tjcjr in forum MiceChat News Archive
    Replies: 3
    Last Post: 08-12-2008, 02:30 PM
  2. [News] EDL s.c.a. Third Quarter Announcement
    By Zarniwoop in forum Disneyland Paris
    Replies: 15
    Last Post: 08-10-2008, 01:08 PM
  3. Last Quarter
    By Disneyland Daddy in forum MiceChat Main Lounge
    Replies: 24
    Last Post: 10-20-2007, 12:37 PM
  4. EDL s.c.a. Third quarter results
    By Zarniwoop in forum Disneyland Paris
    Replies: 10
    Last Post: 07-26-2007, 01:27 PM
  5. French Quarter, 2/1/07
    By blumacara in forum Disney Interactive and Game Industry Discussion
    Replies: 13
    Last Post: 02-02-2007, 04:28 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •