Thursday, December 1, 2022

Euro Disney releases FY 2011 results; resort revenues up 5%

PARIS, November 9, 2011 —

  • Resort revenues up 5%, reflecting higher guest spending and Resort volumes
  • Real Estate revenues down € 37 million due to the significant property sale in the prior year
  • Net loss increased to € 64 million, reflecting lower Real Estate margin and increased costs related to enhancing the overall guest experience
  • Cash and cash equivalents at € 366 million, after repaying € 123 million of borrowings during the year

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”)[1]. 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[2] 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.

Judith Rubin
Judith Rubin
Judith Rubin ([email protected]) is a leading journalist, publicist, strategist, blogger, content marketing specialist and connector in the international attractions industry. She excels at writing about all aspects of design and technical design, production and project management. Areas of special interest include AV integration and show control, lighting design and acoustics, specialty cinema, digital video and world’s fairs. Judith has ties to numerous industry organizations. From 2005-2020 she ran communications, publications and social media for the Themed Entertainment Association (TEA). In 2013, she was honored with the TEA Service Award. She was development director of IMERSA, and co-chair of the 2014 IMERSA Summit. She was publicist for the Large Format Cinema Association in the 1990s, now part of the Giant Screen Cinema Association (GSCA) and has also contributed to the publications of PLASA, IAAPA and the International Planetarium Society. Already making her mark as a magazine and book editor, Judith joined World’s Fair magazine in 1987, which introduced her to the attractions industry. Launching as a freelancer in the mid 1990s she has contributed to dozens of publications and media outlets including Funworld, Lighting&Sound America, Sound & Communications, Urban Land, The Raconteur and The Planetarian. She joined InPark in 2010. Judith earned a Bachelor of Fine Arts from Pratt Institute. She has lived in New York City and the San Francisco Bay Area, and now makes her home in Saint Louis, where she is active in the local arts and theater community.

Related Articles

Latest Articles