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Euro Disney S.C.A. Reports Revenues for the Nine Months Ended June 30, 2012


News provided by

Euro Disney S.C.A.

07 Aug, 2012, 06:19 GMT

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MARNE-LA-VALLÉE, France, August 7, 2012 /PRNewswire/ --

EURO DISNEY S.C.A.
Fiscal Year 2012

Third Quarter Announcement
Nine Months Ended June 30, 2012

  • Third quarter Resort revenues increased 4% to € 358 million, reflecting higher guest spending and theme parks attendance, partially offset by lower hotel occupancy
  • Nine-month year-to-date revenues up 1% to € 911 million, reflecting a 2% increase in Resort revenues, partially offset by lower Real Estate revenues 

Euro Disney S.C.A. (the "Company"), parent company of Euro Disney Associés S.C.A, operator of Disneyland® Paris, reported today the revenues for its consolidated group (the "Group"), for the third quarter of fiscal year 2012 (the "Third Quarter"), as well as the revenues for the nine months ended June 30, 2012.

Revenues for the Third Quarter:

                                                Third Quarter       Variance
    (EUR in millions, unaudited)               2012       2011  Amount        %

    Resort operating segment                  357.7      342.9    14.8     4.3%
    Real estate development operating segment   0.4        0.3     0.1      n/m
    Total revenues                            358.1      343.2    14.9     4.3%

n/m: not meaningful

Revenues for the nine months ended June 30, 2012:

                                                 Nine Months
                                                Ended June 30,      Variance
    (EUR in millions, unaudited)                2012     2011   Amount         %

    Resort operating segment                   908.8    888.7     20.1      2.3%
    Real estate development operating segment    1.7     11.7    (10.0)      n/m
    Total revenues                             910.5    900.4     10.1      1.1%

n/m: not meaningful

 

Commenting on the results, Philippe Gas, Chief Executive Officer of Euro Disney S.A.S, said:

"We are pleased with the strong launch of our 20th Anniversary celebration which has helped us drive 4 % revenue growth in the third quarter, in a still uncertain economic environment.

Third quarter guest satisfaction was up 7 percentage points to the prior year, confirming the celebration's impact and the relevance of our ongoing investments in the guest experience. Our unique Disney Dreams®! nighttime show is also proving to be a great hit amongst our guests.

Despite the general wait-and-see consumer behavior, we believe the third quarter performance marks an encouraging trend and we are confident that the commitment of our Cast Members and the enhancement of Disneyland Paris will continue to generate growth and help us drive our business towards long term profitability."


REVENUES BY OPERATING SEGMENT FOR THE THIRD QUARTER

                                                Third Quarter       Variance
    (EUR in millions, unaudited)               2012      2011  Amount         %

    Theme parks                               207.8     196.7    11.1      5.6%
    Hotels and Disney Village(R)              138.6     137.1     1.5      1.1%
    Other                                      11.3       9.1     2.2     24.2%
    Resort operating segment                  357.7     342.9    14.8      4.3%
    Real estate development operating segment   0.4       0.3     0.1       n/m
    Total revenues                            358.1     343.2    14.9      4.3%

n/m: not meaningful

 

Resort operating segment revenues increased 4% to € 357.7 million from € 342.9 million in the prior-year quarter.

Theme parks revenues increased 6% to € 207.8 million from € 196.7 million in the prior-year quarter, primarily due to a 3% increase in average spending per guest and a 2% increase in attendance. The increased average spending per guest was due to higher spending on merchandise and food and beverage. The increase in attendance was due to more guests visiting from France and Belgium, partly offset by fewer guests visiting from Spain and the Netherlands.

Hotels and Disney Village® revenues increased 1% to € 138.6 million from € 137.1 million in the prior-year quarter, due to a 7% increase in average spending per room, partly offset by a 2.9 percentage point decrease in hotel occupancy and lower Disney Village activity. The increase in average spending per room was due to higher daily room rates, partly offset by lower spending on food and beverage. The decrease in hotel occupancy resulted from 15,000 fewer room nights sold compared to the prior-year quarter. This trend was due to fewer guests from Spain and the Netherlands staying in the Group's hotels, as well as lower business group activities, partly offset by more French guests staying overnight.

Other revenues increased by € 2.2 million to € 11.3 million compared to € 9.1 million in the prior-year quarter. This increase was due to higher incomes on transportation and other services sold to guests and increased sponsorship revenues.

Real estate development operating segment revenues amounted € 0.4 million, stable compared to the prior-year quarter.


REVENUES BY OPERATING SEGMENT FOR THE NINE MONTHS ENDED JUNE 30, 2012

                                                Nine Months                                                
                                               Ended June 30,       Variance
    (EUR in millions, unaudited)               2012     2011   Amount          %

    Theme parks                               512.6    496.5     16.1       3.2%
    Hotels and Disney Village(R)              363.2    364.0     (0.8)     (0.2)%
    Other                                      33.0     28.2      4.8      17.0%
    Resort operating segment                  908.8    888.7     20.1       2.3%
    Real estate development operating segment   1.7     11.7    (10.0)      n/m
    Total revenues                            910.5    900.4     10.1       1.1%

n/m: not meaningful

Resort operating segment revenues increased 2% to € 908.8 million from € 888.7 million in the prior-year period.

Theme parks revenues increased 3% to € 512.6 million from € 496.5 million in the prior-year period, due to a 3% increase in average spending per guest. This increase in average spending per guest resulted from a higher spending on merchandise and food and beverage.

Hotels and Disney Village® revenues remained stable at € 363.2 million, compared to € 364.0 million in the prior-year period, due to 3.4 percentage point decrease in hotel occupancy and a lower Disney Village activity, offset by a 5% increase in average spending per room. The decrease in hotel occupancy resulted from 48,000 fewer room nights sold compared to the prior-year period. This decrease was primarily due to fewer guests from Spain, the Netherlands and Italy staying in the Group's hotels, as well as lower business group activity, partly offset by more French guests staying overnight. The increase in average spending per room was due to higher daily room rates, partly offset by lower spending on food and beverage.

Other revenues increased by € 4.8 million to € 33.0 million compared to € 28.2 million in the prior-year period. This increase was due to higher incomes on transportation and other travel services sold to guests and an increase in sponsorship revenues.    

Real estate development operating segment revenues decreased by € 10.0 million to € 1.7 million, compared to € 11.7 million in the prior-year period. This decrease was due to a lower number of transactions closed in the nine months ended June 30, 2012 compared with the prior-year period. Given the nature of the Group's real estate development activity, the number and size of transactions vary from one year to the next.


UPDATE ON RECENT AND UPCOMING EVENTS

The celebration of Disneyland® Paris' 20th Anniversary launched in April. A number of brand new experiences await guests, including Disney Dreams®!, a nighttime show with the Disneyland Castle as a backdrop that features classic Disney storytelling brought to life with the latest technology and special effects. During its first quarter of operations, this show generated extremely favorable guest satisfaction. There are also new opportunities to interact with Disney characters, including Meet Mickey Mouse, which opened in May, as well as Disney Magic on Parade! and Disney's 20th Anniversary Celebration Train.

On July 12, a World of Disney store opened in the Disney Village®. With over 1,400 square meters of retail space, World of Disney is the resort's largest boutique to date. Its elegant Art Deco style is a tribute to the Parisian department stores. Strategically located at the entrance of the Disney Village, World of Disney can be potentially visited by most of the guests entering or exiting the theme parks.

Next Scheduled Release: Half Year Report on the Liquidity Contract in October 2012

Additional Financial Information can be found on the internet at http://corporate.disneylandparis.com

   
   Code ISIN:          FR0010540740
   Code Reuters:       EDLP.PA
   Code Bloomberg:     EDL:FP

The Group operates Disneyland® Paris which includes: Disneyland® Park, Walt Disney Studios® 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 Village®, a dining, shopping and entertainment centre, 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.

Press Contact   

Laurent Manologlou                        
Tel: +331-64-74-59-50                        
Fax: +331-64-74-59-69                        
e-mail: laurent.manologlou@disney.com             


Investor Relations

Olivier Lambert
Tel: +331-64-74-58-55
Fax: +331-64-74-56-36
e-mail: olivier.lambert@disney.com


Corporate Communication

François Banon
Tel: +331-64-74-59-50
Fax: +331-64-74-59-69
e-mail: francois.banon@disney.com

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