1st half results: Record attendance

[Zarniwoop]

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."

[davewasbaloo]

Originally Posted by Zarniwoop

EURO DISNEY S.C.A.

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.
"

I am sure the cost of the Euro has not helped the UK market either. Lol.

Thanks Zarniwoop. I am not surprised at increase in guests (the park seems rammed all the time now). Nor the drop in revenues - all the promotions and the high cost for rubbish quality souvenirs (and poor selection), will not help.

But I cannot understand, if there are more guests, why are the reducing capacity by cutting two e-ticket shows (I know it is cost cutting, but the quality reductions and impact of longer lines could hurt the company in the medium term).

[TheDisneyMagic]

It is to be expected with the state of the econemy especially the rate of the euro at the moment that revenue will be down because people are cutting costs whereever possible, their marketing is obiously working plus additions such as the Tower of Terror will definately be bringing in those people. I think overall the resort is doing great.

[TheDisneyMagic]

Originally Posted by davewasbaloo

But I cannot understand, if there are more guests, why are the reducing capacity by cutting two e-ticket shows (I know it is cost cutting, but the quality reductions and impact of longer lines could hurt the company in the medium term).

I don't know, does the company look at medium term anymore. It is usually long term (new attractions) and short term (special promotions).

Hopefully shows will return in a couple of years time.

[DLRP_bopazot]

Great Job DLRP but still no Major Announcement for Stoy Story Playland in the WDS .

[TDLFAN]

I am so happy that DLP seems to be doing so well now. There is hope for HKDL I guess...

[hawachan]

Originally Posted by Zarniwoop

EURO DISNEY S.C.A.
Fiscal Year 2009
Reports First Half Results
Six Months Ended March 31, 2009

• Net loss increased by € 42 million to € 85 million due to lower revenues, as costs and expenses remained stable

Purely from a business perspective I`d be very worried about the financial situation......

[fizzog]

Hmmm....interesting. Still, better than previous years!