Euro Disney Q1 revenues up 20% to € 341 mln

Euro Disney S.C.A., parent company of theme park and resort operator Disneyland Resort Paris, reported that revenues for the first quarter of fiscal year 2008 which ended December 31 increased 20% to € 340.5 mln, reflecting increases in theme parks, hotels and real estate revenues.

Theme parks revenues increased 14% to € 175.1 mln, driven by 10% growth in attendance and 3% higher average spending per guest.

The increase in theme parks attendance primarily reflects growth in the Spanish, Dutch and British markets. The increase in average spending per guest primarily reflects growth from admissions and food and beverage.

Hotels and Disney Village revenues increased 17% to € 126.7 mln, reflecting an 11% increase in average spending per room and 6.8% in hotel occupancy.

The increase in average spending per room reflects increases in daily room rates at certain hotels. The increase in hotel occupancy resulted from an incremental 36,000 room nights compared to the prior-year quarter, primarily driven by more guests visiting from Spain and the United Kingdom.

Real estate revenues increased € 18.4 mln to € 24.4 mln, primarily resulting from € 12.5 mln of revenue related to the sale of a property in Val d’Europe which had been subject to a long-term ground lease.

“The growth in revenues reflect increases in all our key business drivers,” said Karl L. Holz, Chairman and Chief Executive Officer of Euro Disney

“Our 15 anniversary celebration, marked by the opening of the Crush’s Coaster and Cars Race Rally attractions as well as the new Disney’s Once Upon a Dream Parade, has created another level of emotional connections with our guests. In fiscal year 2008, the celebration continues, big time with the April grand opening of The Twilight in the Walt Disney Studios Park. This iconic Disney attraction will add to the high-Zone Tower of Terror quality experiences we offer visitors to our Resort – the place where dreams come true.”

Resort operating segment revenues increased 14% to € 316.1 mln from 278.1 mln in the prior-year quarter.

Other revenues, which primarily include participant sponsorships, transportation and other travel services sold to guests, decreased € 1.5 mln to € 14.3 mln.

On April 1, 2007, the Group launched the celebration of the 15 anniversary of Disneyland Resort Paris. In June, the Group opened two new attractions at the Walt Disney Studios Park, Crush’s Coaster and Cars Race Rally, inspired by the Disney/Pixar hit animated films Finding Nemo and Cars, respectively.

On November 8, 2007, the company announced the implementation of a 100 to 1 reverse stock split, as authorized by the shareholders. Effective consolidation took place on December 3, 2007 and currently 96% of the company’s shares have been consolidated.

The Group operates Disneyland Resort Paris which includes: Disneyland Park, Walt Disney Studios Park, seven themed hotels with 5,800 rooms (excluding 2,400 additional third-party rooms located on the site), two convention centers, Disney Village, a dining, shopping and entertainment centre, and a 27-hole golf course. The Group’s operating activities also include the development of the 2,000-hectare site, half of which is yet developed. Euro Disney S.C.A.’s shares are listed and traded on Euronext Paris.