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Buzz Lightyear helps Euro Disney narrow FY loss - Reuters, 11/8/06

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  • Buzz Lightyear helps Euro Disney narrow FY loss - Reuters, 11/8/06

    http://today.reuters.com/news/articl...Y-UPDATE-1.XML


    A new Buzz Lightyear ride helped Euro Disney boost visitor numbers and trim its fiscal 2006 year loss and the heavily-indebted operator of Disneyland Paris said was confident it could keep afloat in 2007.

    In a statement on Wednesday, the company, which has to meet certain financial targets to stop banks from calling in its massive debts, said its net loss narrowed to 73.1 million euros from a comparable loss of 92 million euros in 2005.

    The operating loss excluding debt servicing costs narrowed to 2.4 million euros from 31.9 million as revenues grew faster than costs, helped by attractions such as the Buzz Lightyear ride launched in April and efforts to attract more French visitors.


    At 0844 GMT, Euro Disney's volatile shares were off one euro cent at six cents, having traded unchanged for much of the session.

    The company said it believed it had complied in fiscal 2006 with the profitability and cash flow goals it was set as part of a 2005 debt restructuring and could do so again in 2007 without recourse to additional measures, such as cutting investment.

    "The group currently believes that it will meet its financial performance covenants in fiscal year 2007 through increased revenues and continuing cost containment," Euro Disney said.
    Check out my Theme Park Photos at http://darkbeer.smugmug.com

  • #2
    Re: Buzz Lightyear helps Euro Disney narrow FY loss - Reuters, 11/8/06

    Here is a link to the official statement released by Euro Disney, S.C.A.

    http://www.eurodisney.com/data/288.pdf
    Check out my Theme Park Photos at http://darkbeer.smugmug.com

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