Record losses for Disneyland Paris after attacks

Euro Disney, which owns Disneyland Paris, posted record annual losses in the wake of the jihadist attacks on Paris which weighed heavily on tourist bookings. 

During its financial year, which ended in September, group turnover fell 6.91 percent to 1.27 billion euros following a 10 percent drop in visitor numbers, a statement said. 

"Disneyland Paris had an exceptionally challenging year. We have been impacted by various external factors that have significantly affected the tourism business in the Paris region," said Euro Disney president Catherine Powell in the statement. 

"In this adverse environment, revenue decreased 7%. This, together with the increase in costs driven by our future growth strategy of continually improving the guest experience plus the costs of additional security measures, resulted in a significant decrease in our operating performance for the fiscal year." 

The statement was issued as France prepares to mark the year anniversary of the deadly attacks on the French capital which claimed 130 lives. 

Over the period, the group registered a net loss attributable to shareholders of 705 million euros, compared with 84.2 million the previous year. 

Overall net loss stood at 858 million euros for the year, which included a 565 million euro impairment charge. 

"As a result of the adverse economic conditions of the tourism industry in Paris... the group performed an impairment test of all its long-lived assets and determined its assets were impaired," it said. 

"The impairment charge had no impact on the group's cash position or cash flows." 

Topics: France , earnings , leisure , Disney
COMMENT DISCLAIMER: Reader comments posted on this Web site are not in any way endorsed by Manila Standard. Comments are views by readers who exercise their right to free expression and they do not necessarily represent or reflect the position or viewpoint of While reserving this publication’s right to delete comments that are deemed offensive, indecent or inconsistent with Manila Standard editorial standards, Manila Standard may not be held liable for any false information posted by readers in this comments section.