First half 2007 brings major 10% improvements

Thursday, 3rd May 2007 at 23:43

Marne-la-Vallée, 27th April 2007 -- Euro Disney SCA, the operating company of Disneyland Resort Paris, announces its First Half 2007 Results for the six months ended 31st March 2007. Increases of 10% are clear in two important areas - revenues increasing to € 513 million and park attendance increasing to 6.1 million, a great start to the 15th year before it had even begun!,

The results come as an incredibly positive step forward for the debt-laden group, showing an improvement and growth toward financial health right across the board – without any effects of the 15th Anniversary, since the results report only up until late March. Total revenues increased 9.7% from €467.4m during the same period in 2006 to €512.6m in 2007 – a positive figure indeed, but still only enough to reduce total losses for the period by €20m, due to other increased spend on marketing and operations in preparation for the anniversary year.

At Disney Village and the Disney Hotels, more good news and more growth. Over recent years hotel occupancy has fallen considerably, but this first half it has finally risen by over 5 percentage points to a satisfying 83.1%, whilst overall revenues for Hotels and Disney Village has risen by – you guessed it – over 10%.

For the fans, there’s one area looked to each and every time financial results are released – the attendance. This ‘First Half’, we’re in for a major surprise. Whilst it might have been expected attendance would slow in the build-up to the anniversary, with guests perhaps holding back trips, the results show absolutely nothing of the sort. From 5.5 million visitors in the first half of 2006, attendance at the two Disney Parks has increased a staggaring 10.9% to 6.1 million visitors from November 2006 to March 2007.

Add the huge marketing push and countless new attractions of the 15th Anniversary to this positive first half, and what can be expect for the next two quarters? If attendance continued at 10.9% above 2006 levels for the entire financial year, attendance would hit as high as 14 million visitors, the highest ever amount for Disneyland Resort Paris. More realistically, perhaps, the resort should aim for its current record – 13.1 million visitors in 2002, when Walt Disney Studios Park opened. Rememering that 2006 brought 12.8 million guests with only minimal advertising of Buzz Lightyear Laser Blast though, and that 14 million suddenly doesn’t seem quite so far away…

Commenting on the results, Karl L. Holz, Chairman and Chief Executive Officer of Euro Disney S.A.S., said:

“We are encouraged by the improved results of the first half of the fiscal year and we are pleased with the positive response of our guests to the 15th anniversary celebration. We are looking forward to continuing the celebration with the opening of two new Walt Disney Studios® Park attractions inspired by our popular Disney/Pixar animated films, Finding Nemo and Cars.

“We continue to focus on improving our business performance and the overall resort experience. The continued enthusiasm and dedication displayed by our cast members is instrumental in maintaining and improving this experience.”

Update on upcoming events

On April 1, 2007, the Group launched the celebration of the 15th anniversary of Disneyland® Resort Paris which will last until March 31, 2008.
The Disneyland® Park’s Sleeping Beauty Castle has been decorated with sculptures of Disney Characters and 15 birthday candles. Each night, the candles are lit during Candleabration, a birthday show featuring favorite Disney Characters.

In the Disneyland Park, Disney Characters star in the all-new Disney’s Once Upon a Dream parade. Two new attractions are scheduled to open at the Walt Disney Studios® Park during the celebration. Crush’s Coaster and Cars Race Rally, inspired by the Disney/Pixar’s hit animated films Finding Nemo and Cars, respectively. These attractions are designed to add to the appeal and capacity of Disneyland Resort Paris, further enhancing the core guest experience to drive both attendance and occupancy growth as well as increase guest spending.

On June 10, 2007, the new high speed train (“TGV Est Européen”) line to the East of France, Germany and Switzerland will be launched. With the opening of this line, the Marne-la-Vallée/Chessy station will become the largest high speed rail interchange in Europe. This line will allow more guests living east of our Resort quicker access to Disneyland Resort Paris. Once the line is running at full capacity, the French Rail Authority expects that more than six million passengers should transit through this station every year.

You can read the report in full here (PDF opens in new window).

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