Wednesday, February 8, 2012
Euro Disney Released First Quarter Announcement : Resort revenues are up 4% , Total revenues increased 1%
Euro Disney S.C.A. reported today the revenues for its consolidated group for the first quarter of the fiscal year 2012 which ended December 31, 2011. And, guess what? The results are good! The Resort revenues are up 4% to € 318.6 million due to higher theme parks attendance and guest spending, partly offset by lower hotel occupancy and total revenues increased 1% to € 318.9 million, as higher resort revenues were partially offset by lower real estate revenues.
More details from the official release:
Resort operating segment revenues increased 4% to € 318.6 million from € 305.6 million in the prior-year period.
Theme parks revenues increased 7% to € 180.2 million from € 168.9 million in the prior-year period, primarily due to a 5% increase in attendance and a 1% increase in average spending per guest. The increase in attendance resulted from a higher number of guests visiting from France, partly offset by fewer guests visiting from the Netherlands. The increase in average spending per guest was due to higher spending on merchandise and food and beverage.
Hotels and Disney Village® revenues increased 1% to € 128.2 million from € 126.8 million in the prior-year period due to a 2% increase in average spending per room, partly offset by a 1.1 percentage point decrease in hotel occupancy. The increase in average spending per room resulted from higher daily room rates, partly offset by lower spending on food and beverage and merchandise. The decrease in hotel occupancy resulted from 6,000 fewer room nights sold, including fewer guests visiting from the Netherlands and the United Kingdom, partly offset by more French guests staying overnight.
Real estate development operating segment revenues decreased by € 9.4 million to € 0.3 million, compared to € 9.7 million in the prior-year period. This decrease is due to four transactions closed in the prior-year period while no transaction closed in the First Quarter.
During the First Quarter, costs and expenses increased compared to the prior-year period driven by labor rate inflation partially offset by lower costs associated with real estate development activity.
Commenting on the results, Philippe Gas, Chief Executive Officer of Euro Disney S.A.S., said:
"The improved attendance and guest spending are encouraging, especially in light of the challenging economic environment. Total revenues were up 1% compared to the prior-year period which included several real estate transactions.
In April we look forward to launching our twentieth anniversary celebrations with brand new experiences for our guests, including the Disney Dreams®! night-time show, an innovative light and color spectacular. It will also be an opportunity to celebrate a two-decade journey with our cast members, our guests as well as our key public and private partners who have helped Disneyland Paris become Europe's number one tourist destination." (end of official release)
It's always good news to know that DLP don't have negative results and specially for the investors - and the banks! Hopefully, the 20th anniversary and the new Disney Dreams show should help to be a good year for DLP and talking about the 20th here is the first TV Ad released in Spain. For sure more will come, probably showing more of the Disney Dreams show.
Picture and video: copyright Disney