Nov 09, 2011 Judith Rubin Uncategorized Comments Off on Euro Disney releases FY 2011 results; resort revenues up 5%
PARIS, November 9, 2011 —
Euro Disney S.C.A. (the “Company”), parent company of Euro Disney Associés S.C.A. (“EDA”), operator of Disneyland® Paris, reported today the results for its consolidated group (the “Group”) for the fiscal year 2011 which ended September 30, 2011 (the “Fiscal Year”). Key Financial Highlights Fiscal Year (EUR in millions, unaudited) 2011 2010 2009 Revenues 1,297.7 1,275.0 1,230.0 Costs and Expenses (1,286.2) (1,240.9) (1,203.6) Operating Margin 11.5 34.1 26.4 Plus: depreciation and amortization 173.0 167.4 160.8 EBITDA (2) 184.5 201.5 187.2 EBITDA as a percentage of revenues 14.2% 15.8% 15.2% Net loss (63.9) (45.2) (63.0) Attributable to equity holders of the parent (55.6) (39.9) (55.5) Attributable to minority interests (8.3) (5.3) (7.5) Cash flow generated by operating activities 168.7 236.7 124.1 Cash flow used in investing activities (79.6) (86.8) (72.1) Free cash flow generated 2 89.1 149.9 52.0 Cash and cash equivalents, end of period 366.1 400.3 340.3
Key Operating Statistics Theme parks attendance (in millions) 15.6 15.0 15.4 Average spending per guest (in EUR) 46.23 45.30 44.22 Hotel occupancy rate 87.1% 85.4% 87.3% Average spending per room (in EUR) 219.74 209.78 201.24
Commenting on the results, Philippe Gas, Chief Executive Officer of Euro Disney S.A.S., said:
“Our Resort revenues increased by 5%, reflecting growth in both guest spending and Resort volumes. In fact, we grew our attendance in most of our key markets, by 600 thousand overall to 15.6 million, even as our summer season was impacted by the weaker European economic environment.
This past year we further invested in enhancing the overall guest experience, by introducing longer park operating hours, adding new entertainment and improving the appearance of our guest facing assets. Although these investments increase our costs, they are critical to maintain our long-term attractiveness as Europe’s number one tourist destination.
We remain confident in our business and look forward to the upcoming year, where notably we will celebrate our 20th anniversary, beginning in April, with both our Cast Members and visitors of all ages.”
For the full report, visit this link.
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