Third Quarter results: Revenues up 12%, Attendance 9%

Thursday, 26th July 2007 at 15:29

ImageThe good news -- and perhaps more importantly, the money -- continues to roll in for Euro Disney S.C.A., the operating company of Disneyland Resort Paris, who publish their Third Quarter results today, 26th July 2007. Third Quarter results show a 12% "surge" in sales across the group year-on-year, year-to-date revenues up 11% and impressive attendance increase of 9% for the quarter.,

Marne-la-Vallée, 26th July 2007 ‘” Euro Disney S.C.A., the operating company of Disneyland Resort Paris, publishes its Third Quarter 2007 Results along with total revenues for the nine months ended 30th June 2007. Revenues for the quarter increased 12% to € 321.7 million from € 286.6 million in the same period in 2006. This reflects increases in both Theme Parks and Hotels revenues.

Revenues for the first 9-months of the 2007 financial year increased 11% to € 834.3 million from € 754.0 million in the period last year.

The key points summarised:

Theme Parks

  • Revenues increased 8% to € 173.7 million in the Third Quarter, from € 160.7 million during the same period in 2006. For the nine months of this financial year to 30th June 2007, revenues have increased 11% to € 443.0 million from €397.7 million. The increase this quarter reflects attendance increase. Guest spending remained “essentially stable”.
  • Attedance increased 9% in the Quarter year-on-year. This comes following a 10.9% increase in the First Half 2007, which pushed attendance in the first two quarters to 6.1 million guests. Exact figures are not announced for the Third Quarter, but it seems clear the Theme Parks will surpass the previous year’s 12.8 million guest count. The attendance increase this quarter reflects on-going growth in most markets, particularly France and Spain.

Hotels and Disney Village

  • Revenues increased 21% to € 132.7 million from €109.4 million in the prior-year period, reflecting a 17% increase in average spending per room 4.7 percentage point increase in hotel room occupancy. Occupancy increase here primarily reflects higher leisure stays, rather than corporate conventions as in the First Half.
  • For the 9 months ended 30th June 2007, revenues have increased 15% to € 338.0 million, driven by an overall increase of 10% in average spending per room and an increase of 5.0 percentage points in room occupancy. The higher room occupancy results in an additional 78,000 room nights compared to the prior year period.

Commenting on these results, Karl L. Holz, Chairman and Chief Executive Officer of Euro Disney S.A.S., appears confident yet realistic about the resort’s position, particularly highlighting the impact new attractions can have on the growth of the resort:

“Our third quarter and year-to-date revenues are encouraging, and both represent records for Disneyland Resort Paris for their respective periods. Naturally, the higher Resort activity and labor rate inflation have caused costs and expenses to also increase.

Clearly, the new offerings we developed for our 15th anniversary celebration are greatly appreciated by our guests. New attractions, like Crush’s Coaster and Cars Race Rally at the Walt Disney Studios® Park, combine creativity and innovation to bring to life immersive experiences that only Disney can create and enrich the appeal of our parks.

Management remains focused on our growth strategy as we move forward into our fourth quarter of the year and we believe our growth in revenues indicates progress in delivering on this strategy.”

As Karl L. Holz comments, the third quarter and year-to-date revenues are already records for Euro Disney S.C.A. in their respective periods. Disneyland Resort Paris appears well on its way to a truly record-breaking 15th Anniversary year.

You can read the Third Quarter results in full here. (PDF)

The full 2007 Annual Report will be published in November 2007.

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