- PARIS (AFP) - Troubled theme
park operator Euro Disney posted Tuesday an operating loss of EUR 23.9
million (USD 30.9 million) in its financial year ending September 30 as
sales grew only slightly to 1.048 billion.
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- Euro Disney's net loss widened to EUR 145.2 million from
58.3 million, aggravated by exceptional charges and by accrued royalty
and management fees owed to its parent company Walt Disney Co.
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- Andre Lacroix, Euro Disney chairman, said the company
generated "revenue and attendance growth in the highly important fourth
quarter, thanks to the launch of The Legend of the Lion King Show."
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- Revenues at the company's Disneyland Resort east of Paris
surged 15.9 percent to EUR 306.9 million in the fourth quarter to September
from a pro form a 291.0 million a year earlier.
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- Total sales improved by 9.4 percent to EUR 311.9 million
in the quarter from a pro forma 302.5 million a year earlier, taking account
of real estate revenues, which fell to EUR 5.0 million from 11.5 million.
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- For the full-year, Euro Disney had positive cash flow
of EUR 124.6 million because debt repayments to major creditors remain
suspended and royalty and management fees will not be paid until the current
financial year.
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- The company had a balance of EUR 125 million in its credit
line at the end of September.
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- Increased spending by theme park visitors and hotel guests
was mostly offset by lower hotel occupancy rates, as well as an anticipated
decline in real estate development revenues, the company said.
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- Year-on-year attendance remained flat at 12.4 million
visitors, though Lacroix said the figures mean Disneyland Resort Paris
remains "the number one tourist destination in Europe."
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- Theme park spending per visitor rose five percent to
EUR 42.7 from 40.7.
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- The hotel occupancy rate dropped to 80.5 percent from
85.1 percent, though hotel spending per room grew two percent to EUR 186.6
from 183.5.
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- Total revenues from the group's two theme parks increased
five percent to EUR 531.3 million from 508.5 million but revenues from
the hotels and Disney Village eased three percent to EUR 405.2 million
from 416.7 million.
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- © AFP
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