Euro Disney First-Half Net Loss Narrows as Revenues Grow 10%

Euro Disney said its net loss narrowed to 69.2 million euros ($93.42 million) in the first half to March from 83.6 million euros a year earier as sales rose 10% to 512.6 million euros ($692 million).

The operating margin before depreciation and amortisation increased to 39 million euros ($53 million) from 13 million euros ($17.6 million).

The higher sales reflected increases in theme parks attendance and hotel occupancy, partially offset by lower real estate activity, the owner of the Disneyland Paris resort said.

Theme parks revenues increased 14% to 269.3 million euros as the number of visitors during the autumn and winter period rose by 0.6 million euros to 6.1 million euros.

Hotels and Disney Village revenues climbed 12% to 205.3 million euros, driven by a 5.1%improvement in the hotel occupancy rate and a 5% rise in average spending per room, Euro Disney said.

"We are encouraged by the improved results of the first half of the fiscal year and we are pleased with the positive response of our guests to the 15th anniversary celebration," Karl Holz, the chairman, said in a statement.

"We are looking forward to continuing the celebration with the opening of two new Walt Disney Studio Park attractions inspired by our popular Disney/Pixar animated films, Finding Nemo and Cars," he said.