Has someone the new half figures?
Shouldn´t they pupliced today?
Tomorrow, the 6th...
*dun dun duuuuunnnn* Dramatic music.
What should we expect? Moving closer to profit? Higher or lower attendance? It's going to be a real miracle if they beat last year.
Here's the 2007 first half report for reference: http://corporate.disneylandparis.com/CO ... t-2007.pdf (http://corporate.disneylandparis.com/CORP/EN/Neutral/Images/uk-interim-report-2007.pdf)
headlines
Revenues increased 18% to EUR 605 million, primarily reflecting growth
in Resort operations
Positive operating margin of EUR 1 million, against a prior-year loss
of EUR 36 million
Net loss reduced by 47% to EUR 43 million
And...
• Attendance increased 14.8% to 7 million
• Hotel occupancy increased 5.4ppt to 88.5%
Report: http://www.dlrpmagic.com/today/2008/05/ ... half-2008/ (http://www.dlrpmagic.com/today/2008/05/06/losses-halved-revenues-attendance-increased-in-first-half-2008/)
Full document: http://corporate.disneylandparis.com/CO ... r-2008.pdf (http://corporate.disneylandparis.com/CORP/EN/Neutral/Images/uk-2008-05-06-euro-disney-sca-reports-first-half-results-for-2008.pdf)
Great, great news all round. Just keep this going, Philippe, and we'll be in the clear. (well, as "in the clear" as you can be with over €1.5bn debt still lingering around) :)
So, just to emphasise the debt point.
Has the debt actually reduced over the past couple of years? Obviously I read the annaul reports, but they sort of hide the information behind the positive announcements.
Great news! Looks very promising overall. Hope they will keep up this growing line and hopefully even add some more quality to the parcs!
• Hotel occupancy increased 5.4ppt to 88.5%
A very high % and i think, a great excuse to build/plan another themed onsite disney hotel :P
€1.5 billion owing you say, I wouldn't worry. The Northern Rock in England owe the Bank of England £24 billion, and they say it should take them 3 years to pay it back by restructuring. :wink:
Sort of puts DLRP owings as back pocket change by comparison :lol: :lol:
Member Kristof made an interesting comment on the Themepark.nl forums (//http://themepark.nl/ubb/ubbthreads.php). According to Kristof, the report says Euro Disney S.C.A. won't make use of the 150 million euros loan from The Walt Disney Company so far.
I scrolled the report and found the following:
QuoteFor fiscal year 2008, if compliance with financial performance covenants cannot be achieved through increased revenues, the Group will have to appropriately reduce operating costs, curtail a portion of planned capital expenditures and/or seek assistance from TWDC or other parties as permitted under the loan agreements.
Although no assurances can be given, the Group currently believes that it will meet its financial performance covenants in fiscal year 2008 through increased revenues and continued cost containment, without the need for any of the additional measures referred to above.
So, as I get it, it seems that the rumored investment from TWDC will only be used when needed. And it appears to be a loan.
What kind of worries me is that there won't be any new attractions any time soon. Can they keep up the recent attendance numbers by resorting to the marketing gimmicks we'd all grown so fond of before the 15th? (things that suddenly went backwards, silly festivals, etc.)
That €150mn could have provided a lovely E-ticket... Although that might be ED's equivalent of spending your entire allowance on a Wii.
The Resort has just finished one of its biggest expansion phases ever. In the last three years we have seen Buzz, Cars, Crush, Tower of Terror, Stitch Live and a brand new Parade. Now the challenge is to prove the Paris Resort can keep this record attendance moving up and prove the Resort can grow and deserves further investment. If next years attendance falls it will only prove the Resort is not worth anymore new attractions.
The Results are very good and congratulations to Karl and his team, we can only hope the suscess will continue, without the need to add new rides every year.