MARNE-LA-VALLEE, France, February 8, 2011 /PRNewswire-FirstCall/ —
Euro Disney S.C.A. (the “Company”), parent company of Euro Disney Associes S.C.A., operator of Disneyland(R) Paris, reported today the following revenues for its consolidated group (the “Group”) for the first quarter of the fiscal year 2011 which ended December 31, 2010 (the “First Quarter”):
December 31, Change
(EUR in millions, unaudited) 2010 2009 Amount %
Theme Parks 169.4 164.7 4.7 2.9%
Hotels and Disney(R) Village 127.6 112.3 15.3 13.6%
Other 10.1 13.8 (3.7) (26.8)%
Resort operating segment 307.1 290.8 16.3 5.6%
Real estate development operating segment 9.7 1.2 8.5 >100%
Total Revenues 316.8 292.0 24.8 8.5%
Resort operating segment revenues increased 6% to EUR 307.1 million from EUR 290.8 million in the prior-year period.
Theme parks revenues increased 3% to EUR 169.4 million from EUR 164.7 million in the prior-year period, resulting from a 2% increase in average spending per guest, combined with a 1% increase in attendance. The increase in average spending per guest was due to higher spending on food and beverage. The increase in attendance was driven by more guests visiting from France and Belgium, partially offset by fewer guests visiting from the United Kingdom and the Netherlands.
Hotels and Disney(R) Village revenues increased 14% to EUR 127.6 million from EUR 112.3 million in the prior-year period due to a 5.6 percentage points increase in hotel occupancy, combined with a 7% increase in average spending per room. The increase in hotel occupancy resulted from 30,000 additional room nights compared with the prior-year period, primarily due to more French guests staying overnight and higher business group activity. The increase in average spending per room resulted from higher spending on food and beverage and an increase in daily room rates.
Other revenues, which primarily include participants sponsorships, transportation and other travel services sold to guests, decreased by EUR 3.7 million to EUR 10.1 million from EUR 13.8 million in the prior-year period.
Real estate development operating segment revenues increased by EUR 8.5 million to EUR 9.7 million, compared to EUR 1.2 million in the prior-year period. This increase is due to four transactions in the First Quarter, while no transaction occurred in the prior-year period.
Commenting on the results, Philippe Gas, Chief Executive Officer of Euro Disney S.A.S., said:
“Following the improvement we saw at the end of last year, we are encouraged that our First Quarter guest visitation and spending continued to improve over the prior year. Total first quarter revenues were up 8% versus last year, which is particularly significant given the extensive travel disruptions experienced throughout Europe during the holiday season. We look forward to launching the Disney Magical Moments Festival this spring, where we will celebrate the role of Disney magic in creating lasting memories for families and friends at the Resort.”
The Group operates Disneyland(R) Paris, which includes: Disneyland(R) Park, Walt Disney Studios(R) Park, seven themed hotels with approximately 5,800 rooms (excluding approximately 2,400 additional third-party rooms located on the site), two convention centers, Disney(R) Village, a dining, shopping and entertainment center, and a 27-hole golf course. The Group’s operating activities also include the development of the 2,230-hectare site, half of which is yet to be developed. Euro Disney S.C.A.’s shares are listed and traded on Euronext Paris.
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