Euro Disney Reports Revenues for the Nine Months Ended June 30, 2007

    MARNE-LA-VALLEE, France, July 26 /PRNewswire-FirstCall/ --
     - Fiscal Year 2007
     - Third Quarter Announcement
     - Nine Months Ended June 30, 2007
     - Third Quarter Revenues Increased 12% to EUR 322 Million
     - Year-to-Date Revenues Increased 11% to EUR 834 Million
     - Crush's Coaster and Cars Race Rally Opened June 9, 2007 as Part of
 the 15th Anniversary Celebration
     Euro Disney S.C.A. (the "Company"), parent company of Euro Disney
 Associes S.C.A., operator of Disneyland(R) Resort Paris, reported today
 revenues for the third quarter of fiscal year 2007 (the "Third Quarter"),
 as well as revenues for the nine months ended June 30, 2007, for its
 consolidated group (the "Group").
     Revenues for the Third Quarter increased 12% to EUR 321.7 million from
 EUR 286.6 million in the prior-year period, reflecting increases in both
 theme parks and hotel revenues.
     Revenues for the nine months ended June 30, 2007 increased 11% to EUR
 834.3 million from EUR 754.0 million in the prior-year period.
     Theme parks revenues increased 11% to EUR 443.0 million from EUR 397.7
 million in the prior-year period, primarily reflecting an increase in
 attendance while average spending per guest remained essentially stable.
     Hotels and Disney(R) Village revenues increased 15% to EUR 338.0
 million from EUR 293.0 million in the prior-year period, reflecting
 increases in average spending per room and hotel occupancy.
     Real estate revenues decreased EUR 8.0 million from the prior-year
 period to EUR 8.8 million resulting from lower activity for the nine months
 period ended June 30, 2007 as set-out in the Group's development plan.
     Commenting on the results, Karl L. Holz, Chairman and Chief Executive
 Officer of Euro Disney S.A.S., said:
     "Our third quarter and year-to-date revenues are encouraging, and both
 represent records for Disneyland Resort Paris for their respective periods.
 Naturally, the higher Resort activity and labor rate inflation have caused
 costs and expenses to also increase.
     Clearly, the new offerings we developed for our 15th anniversary
 celebration are greatly appreciated by our guests. New attractions, like
 Crush's Coaster and Cars Race Rally at the Walt Disney Studios(R) Park,
 combine creativity and innovation to bring to life immersive experiences
 that only Disney can create and enrich the appeal of our parks.
     Management remains focused on our growth strategy as we move forward
 into our fourth quarter of the year and we believe our growth in revenues
 indicates progress in delivering on this strategy."
     REVENUES BY SEGMENT
 
     Revenues of the Group for the Third Quarter Ended June 30, 2007
 
                                       Quarter Ended June
                                               30,               Variance
     (EUR in millions, unaudited)        2007       2006     Amount        %
     Theme parks                         173.7     160.7      13.0        8.1%
     Hotels and Disney(R) Village        132.7     109.4      23.3       21.3%
     Other                                13.0      15.2      (2.2)    (14.5)%
     Resort segment                      319.4     285.3      34.1       12.0%
     Real estate development segment       2.3       1.3       1.0       76.9%
     Total revenues                      321.7     286.6      35.1       12.2%
     Resort segment revenues increased 12% to EUR 319.4 million from EUR
 285.3 million in the prior-year quarter.
     Theme parks revenues increased 8% to EUR 173.7 million from EUR 160.7
 million in the prior-year quarter, primarily reflecting a 9% increase in
 attendance. The increase in theme parks attendance reflects on-going growth
 in most of our markets, especially from France and Spain, with average
 spending per guest remaining essentially stable.
     Hotels and Disney Village revenues increased 21% to EUR 132.7 million
 from EUR 109.4 million in the prior-year quarter, reflecting a 17% increase
 in average spending per room and a 4.7 percentage point increase in hotel
 occupancy. These increases resulted from the same drivers as for the nine
 months ended June 30, 2007 described below, except that the increase in
 room nights was primarily driven by the leisure business.
     Real estate development segment revenues increased EUR 1.0 million from
 the prior-year quarter as a result of the closing of a larger residential
 transaction during the Third Quarter compared to the one closed in the
 prior-year period.
     Revenues of the Group for the Nine Months Ended June 30, 2007
 
                                        Nine Months Ended
                                            June 30,             Variance
     (EUR in millions, unaudited)       2007       2006      Amount       %
     Theme parks                        443.0      397.7      45.3      11.4%
     Hotels and Disney Village          338.0      293.0      45.0      15.4%
     Other                               44.5       46.5      (2.0)     (4.3)%
     Resort segment                     825.5      737.2      88.3      12.0%
     Real estate development segment      8.8       16.8      (8.0)    (47.6)%
     Total revenues                     834.3      754.0      80.3      10.6%
     Resort segment revenues increased 12% to EUR 825.5 million from EUR
 737.2 million in the prior-year period.
     Theme parks revenues increased 11% to EUR 443.0 million, primarily due
 to a 10% increase in attendance for the nine months ended June 30, 2007, as
 average spending per guest remained essentially stable. The increase in
 theme parks attendance reflects on-going growth in most of our markets,
 especially from France and Spain.
     Hotels and Disney Village revenues increased 15% to EUR 338.0 million
 driven by an increase of 10% in average spending per room and an increase
 of 5.0 percentage points in hotel occupancy. The increase in average
 spending per room reflects increases in daily room rates at certain of our
 hotels. The increase in the hotel occupancy resulted from an additional
 78,000 room nights occupied by guests as compared to the prior-year period.
 This increase in room nights was primarily driven by increases in guests
 visiting from Spain and in the corporate convention business.
     Other revenues, which primarily include participant sponsorships,
 transportation and other travel services sold to guests, decreased EUR 2.0
 million to EUR 44.5 million.
     Real estate development segment revenues decreased EUR 8.0 million from
 the prior-year period as a result of fewer transactions during the first
 semester of the fiscal year as set-out in the Group's development plan.
     UPDATE ON RECENT AND UPCOMING EVENTS
     During the Third Quarter, the Company announced that it filed a notice
 to terminate its registration as a foreign private issuer with the
 Securities and Exchange Commission ("SEC") in the United States. Given the
 low trading volume of the Company's shares in the United States relative to
 that on the Euronext (Paris), the Company's primary trading market, the
 Company believes that maintaining its registration as a foreign private
 issuer with the SEC and the associated administrative costs are no longer
 justified. The SEC has 90 days following the filing to object, otherwise
 the Company's notice will be considered as approved.
     On April 1, 2007, the Group launched the celebration of the 15th
 anniversary of Disneyland(R) Resort Paris. In June, the Group opened two
 new attractions at the Walt Disney Studios(R) Park, Crush's Coaster and
 Cars Race Rally, inspired by the Disney/Pixar hit animated films Finding
 Nemo and Cars, respectively. These openings will be followed by The
 Twilight Zone Tower of Terror, which has been very popular in the United
 States and Japan parks, scheduled to open in fiscal year 2008. These
 attractions are designed to add to the appeal and capacity of Disneyland
 Resort Paris, further enhancing the core guest experience to drive revenue
 growth.
     On June 10, 2007, the new high speed train ("TGV Est Europeen") line to
 the East of France, Germany and Switzerland was launched. With the opening
 of this line, the Marne-la-Vallee/Chessy station became the largest high
 speed rail interchange in Europe. This line allows more guests living east
 of our Resort quicker access to Disneyland Resort Paris. Once the line is
 running at full capacity, the French Rail Authority expects that more than
 six million passengers should transit through this station every year.
     Next Scheduled Release: Year End 2007 Earnings in November 2007
     Additional Financial Information can be found on the internet at
 http://www.eurodisney.com
     Code ISIN: FR0000125874
     Code Reuters: EDL.PA
     Code Bloomberg: EDL FP
     The Group operates Disneyland(R) Resort Paris which includes:
 Disneyland(R) Park, Walt Disney Studios(R) Park, seven themed hotels with
 approximately 5,800 rooms (excluding approximately 2,400 additional
 third-party rooms located on the site), two convention centers, Disney(R)
 Village, a dining, shopping and entertainment centre, and a 27-hole golf
 facility. The Group's operating activities also include the development of
 the 2,000-hectare site, which currently includes approximately 1,000
 hectares of undeveloped land. Euro Disney S.C.A.'s shares are listed and
 traded on Euronext Paris.
     Management believes certain statements in this press release may
 constitute "forward-looking statements" within the meaning of the U.S.
 Private Securities Litigation Reform Act of 1995. These statements are made
 on the basis of management's views and assumptions regarding future events
 and business performance as of the time the statements are made. Actual
 results may differ materially from those expressed or implied. Such
 differences may result from actions taken by the Group, as well as from
 developments beyond the Group's control, including changes in political or
 economic conditions. Other factors that may affect results are identified
 in the Group's documents filed with the U.S. Securities and Exchange
 Commission.
     Press Contact
     Pieter Boterman
     Tel: +33-1-64-74-59-50
     Fax: +33-1-64-74-59-69
     e-mail: pieter.boterman@disney.com
 
     Investor Relations
     Olivier Lambert
     Tel: +33-1-64-74-58-55
     Fax: +33-1-64-74-56-36
     e-mail: olivier.lambert@disney.com
 
     Corporate Communication
     Jeff Archambault
     Tel: +33-1-64-74-59-50
     Fax: +33-1-64-74-59-69
     e-mail: jeff.archambault@disney.com
 
 

SOURCE Euro Disney SCA

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