Cyrano
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EURO DISNEY S.C.A.
Fiscal Year 2006
First Quarter Revenues Announcement
Three Months Ending December 31, 2005
(Marne-la-Vallée, January 26, 2006) Euro Disney S.C.A., parent company of Euro Disney Associés S.C.A., operator of Disneyland Resort Paris, announced today that total revenues for its consolidated group (the Group) grew 4% over the prior year restated amount for the quarter ended December 31, 2005, reflecting 3% growth in Resort Segment revenues due to hotels and Disney Village revenue growth of 4% and theme park revenue growth of 2%. Revenues from the Real Estate Segment grew 37% over the first quarter of the prior year.
Revenues for the Quarter Ended December 31, 2005
Total revenues increased 4% for the quarter ended December 31, 2005 to 268.5 million compared to the restated prior year amount of 258.8 million.
(1) Prior year revenues have been restated for comparative purposes to conform to IFRS. As-Reported revenues for the quarter ended December 31, 2004 under French accounting principles were 268.9 million. The primary impact of the adoption of IFRS on the Groups revenues was the classification of revenues and the cost of revenues from the sale to guests of third-party provided travel services.
( 2) Theme Park revenues increased 2% over the prior year to reach 139.8 million, reflecting primarily higher theme park attendance and slightly higher average spending per guest.
Hotels and Disney Village revenues increased 4% over the prior year to reach 100.3 million, reflecting improved occupancy rates and higher average daily guest spending per room, primarily driven by food and beverage spending.
The Resort Segment revenues for the First Half of 2006 will not include the Easter vacation period, which will be in the Second Half of 2006. In fiscal 2005, the Easter vacation occurred during the First Half. Accordingly, the year-over-year trends reported for the First Half of 2006 will be affected by the timing of the Easter vacation.
Revenues generated by the Real Estate Segment were 12.6 million, reflecting an increase versus the prior year of 3.4 million, in line with our land development expectations.
Growth Strategy
On April 8, 2006, the newest attraction at Disneyland Park, Buzz Lightyear Laser Blast®, will officially open and begin to take guests on an interactive adventure to help Buzz defend the toy universe against the evil Emperor Zurg. This attraction has been very popular at other Disney parks, and the Group believes that its guests will enthusiastically welcome this new adventure. Buzz Lightyear Laser Blast® was inspired by the Walt Disney Picture's presentation of the Pixar Animation Studio's film Toy Story2.
Karl L. Holz, Chairman and Chief Executive Officer of Euro Disney S.A.S., said:
We are pleased with the progress made in the first quarter on the implementation of our multi-year strategy. While continuing to grow revenues, we have nearly completed our first new major attraction in four years, Buzz Lightyear Laser Blast® which will open on April 8, 2006. In parallel to our development plan, we have focused our efforts on our sales and marketing effectiveness, by streamlining our channels of communication to better reach our core market segments, and through the continued development and enhancement of new sales channels, including the internet.
Fiscal Year 2006
First Quarter Revenues Announcement
Three Months Ending December 31, 2005
(Marne-la-Vallée, January 26, 2006) Euro Disney S.C.A., parent company of Euro Disney Associés S.C.A., operator of Disneyland Resort Paris, announced today that total revenues for its consolidated group (the Group) grew 4% over the prior year restated amount for the quarter ended December 31, 2005, reflecting 3% growth in Resort Segment revenues due to hotels and Disney Village revenue growth of 4% and theme park revenue growth of 2%. Revenues from the Real Estate Segment grew 37% over the first quarter of the prior year.
Revenues for the Quarter Ended December 31, 2005
Total revenues increased 4% for the quarter ended December 31, 2005 to 268.5 million compared to the restated prior year amount of 258.8 million.
(1) Prior year revenues have been restated for comparative purposes to conform to IFRS. As-Reported revenues for the quarter ended December 31, 2004 under French accounting principles were 268.9 million. The primary impact of the adoption of IFRS on the Groups revenues was the classification of revenues and the cost of revenues from the sale to guests of third-party provided travel services.
( 2) Theme Park revenues increased 2% over the prior year to reach 139.8 million, reflecting primarily higher theme park attendance and slightly higher average spending per guest.
Hotels and Disney Village revenues increased 4% over the prior year to reach 100.3 million, reflecting improved occupancy rates and higher average daily guest spending per room, primarily driven by food and beverage spending.
The Resort Segment revenues for the First Half of 2006 will not include the Easter vacation period, which will be in the Second Half of 2006. In fiscal 2005, the Easter vacation occurred during the First Half. Accordingly, the year-over-year trends reported for the First Half of 2006 will be affected by the timing of the Easter vacation.
Revenues generated by the Real Estate Segment were 12.6 million, reflecting an increase versus the prior year of 3.4 million, in line with our land development expectations.
Growth Strategy
On April 8, 2006, the newest attraction at Disneyland Park, Buzz Lightyear Laser Blast®, will officially open and begin to take guests on an interactive adventure to help Buzz defend the toy universe against the evil Emperor Zurg. This attraction has been very popular at other Disney parks, and the Group believes that its guests will enthusiastically welcome this new adventure. Buzz Lightyear Laser Blast® was inspired by the Walt Disney Picture's presentation of the Pixar Animation Studio's film Toy Story2.
Karl L. Holz, Chairman and Chief Executive Officer of Euro Disney S.A.S., said:
We are pleased with the progress made in the first quarter on the implementation of our multi-year strategy. While continuing to grow revenues, we have nearly completed our first new major attraction in four years, Buzz Lightyear Laser Blast® which will open on April 8, 2006. In parallel to our development plan, we have focused our efforts on our sales and marketing effectiveness, by streamlining our channels of communication to better reach our core market segments, and through the continued development and enhancement of new sales channels, including the internet.
Although PR of Euro Disney take the credit as I cut and pasted their release 
