EuroDisney SCA unveils its second quarter results for 2016. The group enlights the impact of Paris and Brussels attacks over its resort operating segment. Its revenues per operating segment decreased by 3% over the first 9 months to €924 million. Its operation loss increased.
Catherine Powell, President of EuroDisney SAS since July 2016 said: In this difficult context, Resort revenues are down 10% for the third quarter and 3% for the nine months. Costs have increased, driven by our continued investment in entertainment experiences and hotel refurbishments, particularly as we prepare for our 25th Anniversary next year. Additionally, the Group incurred incremental costs related to security measures.”
She added: “While our long term investments in the guest experience have begun to show improvements in guest satisfaction ratings on our most recently completed projects, the short term impact on increased costs in combination with the decrease in Resort revenues has resulted in a degradation of the Group’s financial performance for the period. In addition, as of now, we are unable to predict the potential impact on our business from the political uncertainties in Spain and the United Kingdom, as well as the recent event in Nice.”
For the nine months ended June 30th, theme Parks revenues decreased by 5% to €522 million, compared to the same period last year. This was due to a 7% attendance decrease - Fewer guests visited from most key European markets. This was primarily offset by a 2% increase in average spending per guest. Disney Hotels and Disney Village present stable revenues at €372 million.
Over the third quarter, revenues by operating segment (real estate excluded) were down by 10% to €324 million.
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