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Euro Disney expected to report double annual loss

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Posted November 12, 2003, 5:04A | Contributed by Jeff

Euro Disney, the debt-laden European outpost of the Disney empire, is set to report a doubling in its annual loss as its new theme park fails to live up to expectations, adding to concerns about its future viability. The median forecast from six analysts polled by Reuters was for a dip in operating profit to 135.5 million euros ($155.6 million) in the year to end-September from 175.7 million last year. They forecast the 2002/03 net loss ballooning to 59 million euros, when the company reports on Monday, from 33.1 million loss the year before after figures leaked to the press showed a 58 million euro net loss and Euro Disney admitted this was genuine.

Read more from Reuters.

Related parks:

Disneyland Paris

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JACoasterman
November 12, 2003, 8:07A

This is what they get for building a new "land" instead of a new "theme park". From everything I've seen and heard about WDS Paris, it's not worth it, even more so than DCA. That's BAD with a capital B.

Justin

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sparky697
November 12, 2003, 10:50A

Wow, that's terrible. They only made $155 million dollars. Big freaking deal. It's not like they operated at a loss. They just didn't make as much as last year. I know that's bad for stockholders and all but the point is they still made money.

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Jeff
November 12, 2003, 12:51P

I think you should read that again. They didn't make anything. That's what a loss means... opposite of making money.

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themer2
November 13, 2003, 3:13P

ooopppps looks like Disney is out to lose some money on this one? well, in the first place, the French dont particulary like us to begin with. and the location, I could never figure out?Will it surive?Ill never go there. Theres two in the states.With all there money they coould easily sell it off to six Flags. seems that they will buy up any thing these days....lolololol Just Kiddin...
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sparky697
November 14, 2003, 2:55A

So when thay say " a dip in operating profit to 135.5 million euros", that means they actually lost that much? How does that work? Especially when it was 175 million last year. Wouldn't that mean they lost less this year?
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Jeff
November 14, 2003, 10:43A

Read: "Net loss." Net loss is the opposite of "net profit."
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crazypjs
November 15, 2003, 9:26A

Sparky, I'm no financial wizard by any means, but I'm gonna go out on a limb here and say that the key things are "debt-laden" and "operating profit." Without the debt payments and maybe/probably some other factors the park would have made 135 million or whatever, but because of them, instead lost about 59 million euros. Now thats a LOT of debt! I think thats the gist of it anyway.
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tallguy
November 16, 2003, 4:26P

I've not been to Disneyland Paris, but from people I know that have I have heard very mixed reports on the level of customer service and friendliness of the characters. Also, from the UK, it is nearly as expensive as going to Florida where there is a hell of a lot more to do, the atmosphere is supposedly better, and you get the decent weather too. Add to that the fact that there is not a single killer atraction at DLP that is not bettered in other Disney parks, there is little wonder it is struggling.*** This post was edited by tallguy 11/16/2003 4:28:54 PM ***
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