Euro Disney Reports Lower Net Loss in First Half 2008

Published on: May 7, 2008

Euro Disney S.C.A. reported results for the first half of its fiscal year 2008, which ended March 31, 2008. Revenues increased 18 percent to 605 million euros, primarily reflecting growth in resort operations. The company also reported positive operating margin of 1 million euros, against a prior-year loss of 36 million euros and net loss was reduced by 47 percent to 43 million euros. Theme park revenues increased 17 percent to 316.4 million euros, driven by an increase of 0.9 million in attendance to 7 million and a 2 percent increase in average spending per guest. Hotels and Disney Village revenues increased 15 percent to 235.9 million euros, driven by a 10 percent increase in average spending per room and a 5.4 percentage point increase in hotel occupancy to 88.5 percent.
The group said its resort business is subject to the effects of seasonality, which may include the shift of holidays between reporting periods, with the first half of a fiscal year typically generating less revenue than the second half. The first half benefited from the shift in some key markets of the Easter holidays from April in the prior-year period to March. Operating margin before depreciation and amortization increased 42 million euros to 81.1 million euros. Operating margin reached 1.3 million euros, against a prior-year loss of 36.3 million euros. For the first half, net loss decreased 47 percent to 43.4 million euros while net loss attributable to equity holders of the parent decreased 46 percent to 37.5 million euros. For more information, visit www.disneytravelagents.com.