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Euro Disney S.C.A., the operator of the first European tourist destination Disneyland Paris, announced today that its consolidated sales for the third quarter of fiscal year 2011/2012 (April-June) amounts to €358.1 million (approx $445 million), up 4.3% compared to the same period last year.
For the first 9 months of the year, the results are a little more mixed. Consolidated sales for the period increased indeed only by 1% compared to the previous year to stand at €910.5 million (approx $1,13 billion).
Satisfying third quarter
Resort operating activities in the third quarter reported €357.7 million (+4.3%) while the real estate activities remained stable at 0.4 million. This result is mainly due to the two theme parks whose sales increased by 5.6% to €207.8 million (approx $258 million) through a combination of a 3% increase of the average spending by visitors (higher spending for merchandise and F&B) and a 2% increase in attendance (more visitors from France and Belgium, offset by a decrease of visitors from Spain and the Netherlands).
Sales for of hotels and Disney Village in the third quarter is up 1% to €138.6 million (approx $172 million). This result is the consequence of an increase in average spending per room (following higher daily room rates offset by lower spending in restaurants) offset by lower activities of Disney Village and a decrease of 2.9 percentage points of the hotel occupancy rate (15,000 overnight stays less compared to the same period in 2011). Euro Disney SCA explains those numbers by the reduced number of visitors from Spain and the Netherlands and by a lower activity of Business tourism.
Lower hotel occupancy for the first 9 months
Resort operating activities for the first nine months are up 2.3% to €908.8 million (approx $1.13 billion). Theme parks sales amounted to €512.6 million (+3.2%), reflecting an increase in average spending per visitor (higher spending on merchandise and F&B). Euro Disney S.C.A. gives no indication of the level of attendance that was down 1% in the first half. Given the strong third quarter, the attendance for the first 9 months should thus be stable compared to previous fiscal year.
Sales of hotels and Disney Village for the first 9 months amounts to € 363.2 million (approx $451 million) is in slight decrease of 0.2% over the previous fiscal year. Euro Disney S.C.A. explains this result by a decrease of 3.4 percentage points of the hotels occupancy rate (48,000 overnights less) and lower activities of Disney Village and Business tourism while the average spending per room increased 5% (due to higher room rates).
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.” he added.
Since the launch of the 20th anniversary festivities, Disneyland Paris has launched a new meet and greet in Disneyland Park (Meet Mickey Mouse) and continued expansion of the Disney Village with the opening of a new themed retail store (World of Disney) strategically located in the exit zone of both parks.
Full annual results of Euro Disney S.C.A. will be announced in November.
NewsParcs will do a full coverage of the IAAPA Attractions Expo 2013 in Orlando to have a look at the latest trends and developments of the global theme park industry.
