Recent Financial Information

Last update: March 11th, 1999.

Daily share prices from the Paris Bourse (French stock market) can be found in French or English on the net. You could also try Fastnet, which contains links to graphs of the share price movements and transaction activity over the last several months, but this service may now be subscription-only. US stock prices can be found at Quote.com or Microsoft Investor. For UK readers, Euro Disney's London share prices can be found on teletext: Channel 4, page 532.

Annual Summaries

Year ending 30 September 1998: The net profit for the year ending 30th September 1998 was FFr 290m, up 34% from last year's FFr 217m. The park again enjoyed strong attendance figures (12.51m) even allowing for a drop in tourist visits resulting from the June/July World Cup in France, and development activities brought in around FFr 100m of revenue (mostly related to the Val d'Europe project). Hotel occupancy rose to 80.9% from last years 78% (10% better than the regional average) and average guest spend was also up on last year. The repeat visit rate increased to 36%. Overall revenue rose by 8% from FFr 5.48bn to FFr 5.89bn.

Year ending 30 September 1997: The net profit for the year ending 30^th September 1997 was FFr 217m, up another 7.5% from last year's FFr 202m. This was despite some of the outstanding interest and royalty payments starting to take effect following the debt holiday enjoyed by the company over the past few years. The continuing financial improvements were mainly due to another growth in park attendance (up from last year's 11.7m to 12.6m) and better hotel occupancy rates (rising to an average of 78% from last year's figure of 72.2%), plus a slight increase in average guest spend. Overall revenue rose by 10.2% from FFr 4.97bn to FFr 5.48bn.

Year ending 30 September 1996: The net profit for the year ending 30^th September 1996 was FFr 202m, up 77% from last year's FFr 114m. This was partly due to the continuing deal which defers royalty and debt repayments, but much of credit must go to the 10% increase in visitors to 11.7m and the 9% increase in revenue to FFr 5bn.

Year ending 30 September 1995: The net profit for the year ending 30th September 1995 was FFr 114m (£ 14.84m) as opposed to a loss of FFr 1.80 bn (£ 234m) the previous year. Part of the reason for the turn of fortune was the FFr 112m windfall which was linked to an issue of convertible bonds, along with lenders' leniency and repayment of FFr 6bn of debt. Attendance at Disneyland Paris for the same period was 10.7m, an increase of 21% from last year's 8.8m visitors. Revenue for the period increased by 10% from last year, to FFr 4.6bn.

PARIS (REUTERS), 14 November 1997 (Juliette Rouillon):
Euro Disney Posts Higher Annual Profits
Euro Disney announced a 7.5 percent rise in annual profits Thursday and said it was raising entry prices to its Paris Disneyland theme park. Euro Disney Chairman Gilles Pelisson told a news conference net income had increased to 217 million francs ($37.7 million) in the 1996/97 financial year from 202 million ($35.1 million) previously and that the number of visitors had risen to 12.6 million from 11.7 million.

"The year of the fifth anniversary has been a big success. We faced a major challenge in fiscal year 1997: to deliver a positive net income despite a significant increase in financial charges," Pelisson said. "We have more than achieved this goal in surpassing 1996 net income. These results allow us to approach 1998 with confidence," he added. Stock in the group shot up 4.05 percent to 7.70 francs ($1.34) from 7.40 francs ($1.29) following the results but fell back to 7.50 francs ($1.30) on profit taking by early afternoon in Paris.

Euro Disney shares have been falling steadily from 9.15 francs ($1.59) in July 29, which is part of a long-term decline from 15.70 francs ($2.73) in April 1996. Euro Disney, which lost more than 7 billion francs ($1.2 billion) in its first two years, emerged from the red for the first time in 1995 after slashing entry prices and adding new attractions like the Space Mountain rollercoaster. The company said in a statement Thursday it was now increasing its entry fees for the 1997/98 financial year.

Low season entry prices will rise to 130 francs ($22.61) from 125 francs ($21.74) for children and to 160 ($27.83) from 150 francs ($26.09) for adults, it said. Peak season prices will rise to 155 francs ($26.96) from 150 ($26.09) and 200 francs ($34.78) from 195 ($33.91) for children and adults, respectively, it added. The group said the park attracted almost a million visitors more in the year to end-September than a year ago. It also said each visitor spent an average of 251 francs ($43.65) this year compared with 248 ($43.13) last year.

The level of hotel occupancy also improved to 78.0 percent from 72.2 percent. Each hotel room spent an average of 1,042 francs ($181.22) compared with 1,018 ($177.04) last year. Revenues at Disneyland Paris advanced 10.2 percent to 5.48 billion francs ($953 million) from 4.97 billion ($864.3 million), the company said in a statement. Euro Disney said profits grew despite rising costs and finance charges on its 15.1 billion franc ($2.6 billion) debt. Under a 1994 six-billion-franc ($1.04 billion) financial restructuring hailed for having saved the company from collapse, charges suspended during a debt holiday are now gradually being phased in.

Pelisson said he expected the group to make about 100 million francs ($17.4 million) in real estate capital gains in the financial year to the end of September 1998. In 1998 the commercial development in Val d'Europe, east of Paris, "will have an impact of some 100 million francs ($17.4 million) in capital gains," he said. The group aimed to save money by renegotiating contracts and tenders with suppliers as well as reorganizing the group's internal structure, he said.

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