DLP profits

[smotw]

Hey guys...I was wondering... I've never been in DLP. But I remember that during the first year of operation it hasn't been a major success. I even remember some rumors about Disney Company concidering the closure of this park (what would be a terrible shame). My question is: How is the finantial situation of DLP now? Is it a very profit park now? And the last question: Does anyone knows wich Disney Park (between DL Tokio, WDW, DL California, DL Paris) has more profits?
Thanks

Gustavo.

PS> Sorry for my english....I will study more, I promisse.

 

[pheneix]

>>>How is the finantial situation of DLP now? Is it a very profit park now?<<<

The resort was profitable until Disney Studios Paris opened and bombed miserably. Since the opening of the park the resort was plunged back into red ink and probably won't be out of it for quite some time.

It should be noted that the resort's profitability was not hanging on by much anyway, but the new park was really dealed a blow to the balance sheets.

>>>Does anyone knows wich Disney Park (between DL Tokio, WDW, DL California, DL Paris) has more profits?<<<

That would be WDW, but the profit margins at Tokyo Disney Resort are so much larger than any of the other resorts it is not even funny. I would estimate that only a handful of Disney owned resorts will be needed to put TDR over the top.

 

[wdwmagic]

Here is a recent report that gives an overview of DLP finances...

Euro Disney Sales Rise, New Park Helps
Wed January 22, 2003 02:24 AM ET

PARIS (Reuters) - French theme park operator Euro Disney reported a 16 percent rise in first-quarter sales on Wednesday helped by last year's opening of its new Walt Disney Studios park outside Paris.

The company, 39-percent owned by the Walt Disney Co, said turnover in the October-December 2002 quarter tallied 262.2 million euros ($279.4 million) after 225.8 million a year earlier. Euro Disney's financial year runs to end-September. Analysts had declined to give precise forecasts amid a lack of visibility that has left the company itself reluctant to give market guidance. However one expected a rise of 7-9 percent, to around 240 million euros.

The company said increased attendances and spending per visitor during its fiscal first quarter drove theme park revenues up 22.5 percent to 128.8 million euros. However it did not give attendance or per visitor spending levels.

Increased admission prices meanwhile also helped drive up turnover.

Revenues from hotels and the Disney Village commercial center rose 15.8 percent to 103.5 million euros, the company said, with hotel occupancy also showing strong improvement.

Its more erratic real estate revenues, dependent on property deals as the company rents or sells land around it for development, fell 20 percent to 3.6 million euros.

The weight of costs involved in opening the Walt Disney Studios pushed it to a 33 million euro full-year loss in November.

However it said at the time that it aimed to revive its margin on earnings before interest, tax, depreciation and amortization (EBITDA) by 3-5 percentage points by 2005.

Though it has not promised a return to profit in its 2002/03 year, Euro Disney is expecting a rebound based on increased cash flow stemming from nearly 1,500 new hotel rooms and a full year of attendances at the new park.

Shares in the company have lost nearly seven percent of their value this year and closed on Tuesday at 0.47 euros a share.

($1=.9383 Euro)

 

[pheneix]

For the hell of it I was exploring the Disneyland Paris site and came across the EuroDisney SCA financial page. In it they have a truckload of data about the financial state of the resort. There's no excuses or spin, just hard data, including attendance for the resort*. It is a very interesting and informative read, and I wish that their parent company would include such detailed information about their domestic parks.

http://www.eurodisney.com/index.php?idPage=11606&lng=en

* I was absolutely SHOCKED at how low this number turned out to be, especially in light of the numbers put out by Amusement Business last year (although they did state that the 2.8 million figure came for DSP from EuroDisney itself). Combined attendance for the parks was only 13.1 million last year, significantly lower than the figure that Steve and I were arguing over last month. That would put Disneyland Paris itself at 10.3 million, the lowest year there since 1994. The really sad part about the whole ordeal is that the only figure that really showed an increase that would directly translate into profits would be the resort occupacy, which was up 2.2% to 88%.