Euro Disney posts Annual Results for Fiscal Year 2016
Published: November 10, 2016 / Last Updated: November 10, 2016 / By: Press Release
Euro Disney S.C.A has posted the Annual Results for Fiscal Year 2016. As expected revenues declined due to the events that happened in Paris. At the same time, cost and expense increased due to continued efforts to improve the guest experience and incremental security cost.
Key Points Annual Results Fiscal Year 2016
- Revenues for Fiscal Year 2016 were €1,278 million, a decrease of 7% compared to the prior year. The decrease was due to lower volumes, primarily resulting from the adverse tourism environment in Paris
- Costs and expenses increased 5% to €1,520 million, driven by the Group’s continued improvements to the guest experience, planned labor rate inflation and incremental security costs
- Net loss at €858 million for the year includes an impairment charge for the Group’s assets of €565 million. The impairment charge had no impact on the Group’s cash position or cash flows
- In November 2016, The Walt Disney Company agreed to waive two years of royalty and management fees to provide the Group additional liquidity
Recent and Upcoming Events
The results also discuss the Mickey and the Magician show and the upcoming two major events; Season of Force and the 25th Anniversary.
During 2016, the Group continued its focus on the guest experience with the return of the Frozen sing-along show at Disneyland® Park and the launch of a new production, Mickey and the Magician, at the Walt Disney Studios® Park.
From January to March 2017, Disneyland® Paris will celebrate the Season of the Force. As part of this seasonal event, the Walt Disney Studios Park will present a nighttime spectacular which will transport guests into the heart of the Star Wars Saga. This show will combine live entertainment, special effects and an epic sound and light show projected on the park’s most iconic building. Guests will also have opportunities to meet the characters from the Star Wars universe as part of the celebration.
On March 26, 2017, Disneyland Paris will kick-off its 25 the Anniversary celebration, which features a new nighttime spectacular, a new daytime parade, and exclusive shows. Enhanced attractions include the launch of Star Wars Hyperspace Mountain and Star Tours: The Adventures Continue.
Download full results
Download the full results here.
h/t @DLPToday