EURO DISNEY S.C.A.
Reports Annual Results for Fiscal Year 2007
• Revenues increased 12% to € 1,220 million, reflecting volume growth in theme parks
attendance and hotel occupancy
• Operating margin at € 51 million, against a prior year loss of € 2 million
• Net loss reduced by over 50% to € 42 million
(Marne-la-Vallée, November 8, 2007) Euro Disney S.C.A. (the "Company"), parent company of Euro Disney
Associés S.C.A., operator of Disneyland® Resort Paris, reported today the results for its consolidated group
(the "Group"), for the fiscal year 2007 which ended September 30, 2007 (the "Fiscal Year").
Revenues for the Fiscal Year increased 12% to € 1,220.3 million primarily reflecting volume growth in theme
parks attendance and hotel occupancy. Theme parks revenues increased 14% to € 658.6 million, primarily due to
an increase of 1.7 million in attendance to 14.5 million for the Fiscal Year. Hotels and Disney® Village revenues
increased 17% to € 483.0 million, driven by a 10% increase in average spending per room and an increase of
5.8 percentage points in the hotel occupancy rate. Real estate revenues decreased € 10.1 million to € 19.3 million
due to lower activity during the Fiscal Year.
Costs and expenses for the Fiscal Year increased 7% compared to the prior-year period. This increase was driven
by additional labor and other direct costs incurred to support the increased Resort activity, labor rate inflation and
increased marketing expenses. Partially offsetting this increase was a reduction of € 4.9 million in costs and
expenses related to lower Real estate activity and a € 4.3 million benefit from the favorable settlement of a claim
related to prior expenses.
Operating margin before depreciation and amortization increased € 57.8 million to € 205.7 million.
Operating margin increased to € 50.8 million, against a prior year loss of € 2 million.
Net financial charges increased 7% over the prior-year period. This increase is primarily related to the
Disneyland® Park financing agreement, net of increased financial income.
For the Fiscal Year, net loss decreased € 47.0 million to € 41.6 million while net loss attributable to equity holders
of the parent decreased € 34.7 million to € 38.4 million.
Commenting on the results, Karl L. Holz, Chairman and Chief Executive Officer of Euro Disney S.A.S., said:
"This year's results, marked by a positive operating margin, were driven by volume growth in parks attendance
and hotel occupancy and an increase in average spending per room. In 2007, we kicked off the 15th anniversary
celebration by introducing a fantastic new parade and compelling new attractions.
This year's solid performance was made possible through the continued dedication and commitment of all our
cast members, many of which celebrated their personal 15th anniversary with the Company this year.
We look forward to continuing the celebration in fiscal year 2008 with the introduction of The Twilight Zone
Tower of Terror attraction and Stitch Live; new experiences which only Disney can provide.
In 2008, we will continue to execute our growth strategy and remain focused on driving this business toward
Source: EDL s.c.a. press release