Euro Disney S.C.A. Reports Revenues for the First Quarter of Fiscal Year 2012

Euro Disney S.C.A. Reports Revenues for the First Quarter of Fiscal Year 2012

MARNE-LA-VALLÉE, France, February 7, 2012/PRNewswire-FirstCall/ --

EURO DISNEY S.C.A.
Fiscal Year 2012

First Quarter Announcement

- Resort revenues up 4% to EUR 318.6 million due to higher theme parks
attendance and guest spending, partly offset by lower hotel occupancy
- Total revenues increased 1% to EUR 318.9 million, as higher resort revenues
were partially offset by lower real estate revenues

Euro Disney S.C.A. (the "Company"), parent company of Euro Disney Associes S.C.A.,
operator of Disneyland(R) Paris, reported today revenues for its consolidated group (the
"Group") for the first quarter of the fiscal year 2012 which ended December 31, 2011 (the
"First Quarter"):

Quarter ended December 31, Change
(EUR in millions, unaudited) 2011 2010 Amount %

Theme parks 180.2 168.9 11.3 6.7 %
Hotels and Disney Village(R) 128.2 126.8 1.4 1.1 %
Other 10.2 9.9 0.3 3.0 %
Resort operating segment 318.6 305.6 13.0 4.3 %
Real estate development operating segment 0.3 9.7 (9.4) n/m
Total Revenues 318.9 315.3 3.6 1.1 %

n/m: not meaningful

Resort operating segment revenues increased 4% to EUR 318.6 million from EUR 305.6
million in the prior-year period.

Theme parks revenues increased 7% to EUR 180.2 million from EUR 168.9 million in the
prior-year period, primarily due to a 5% increase in attendance and a 1% increase in
average spending per guest. The increase in attendance resulted from a higher number of
guests visiting from France, partly offset by fewer guests visiting from the Netherlands.
The increase in average spending per guest was due to higher spending on merchandise and
food and beverage.

Hotels and Disney Village(R) revenues increased 1% to EUR 128.2 million from EUR 126.8
million in the prior-year period due to a 2% increase in average spending per room, partly
offset by a 1.1 percentage point decrease in hotel occupancy. The increase in average
spending per room resulted from higher daily room rates, partly offset by lower spending
on food and beverage and merchandise. The decrease in hotel occupancy resulted from 6,000
fewer room nights sold, including fewer guests visiting from the Netherlands and the
United Kingdom, partly offset by more French guests staying overnight.

Real estate development operating segment revenues decreased by EUR 9.4 million to EUR
0.3 million, compared to EUR 9.7 million in the prior-year period. This decrease is due to
four transactions closed in the prior-year period while no transaction closed in the First
Quarter.

During the First Quarter, costs and expenses increased compared to the prior-year
period driven by labor rate inflation partially offset by lower costs associated with real
estate development activity.

Commenting on the results, Philippe Gas, Chief Executive Officer of Euro Disney
S.A.S., said:

"The improved attendance and guest spending are encouraging, especially in light of
the challenging economic environment. Total revenues were up 1% compared to the prior-year
period which included several real estate transactions.

In April we look forward to launching our twentieth anniversary celebrations with
brand new experiences for our guests, including the Disney Dreams(R)! night-time show, an
innovative light and color spectacular. It will also be an opportunity to celebrate a
two-decade journey with our cast members, our guests as well as our key public and private
partners who have helped Disneyland Paris become Europe's number one tourist destination."

RECENT AND UPCOMING EVENTS

Appointment of a New Chief Financial Officer

On November 22, 2011, the Company announced the appointment of Mark Stead as Chief
Financial Officer of Euro Disney S.A.S., the Company's Gerant, in replacement of Greg
Richart. Please refer to the press release issued on November 22, 2011 for more details.

Lender's Approval to Increase Resort Investments and Additional Standby Revolving
Credit Facility from The Walt Disney Company ("TWDC")

On January 6, 2012, the Group obtained lenders' agreement to increase the recurring
annual investment budget for fiscal year 2012 up to EUR 100 million and to launch a
multi-year expansion of the Walt Disney Studios(R) Park, which includes a new attraction.
In connection with lenders' approval, the Group obtained an additional standby revolving
credit facility of EUR 150 million from TWDC, which expires on September 30, 2018. For
more information, please refer to the press release issued on January 10, 2012 and to the
Group's 2011 reference document, section C.3.1."Performance Indicator", sub-section
"Restrictions on Capital Expenditures".

Disneyland(R) Paris' 20th Anniversary Celebrations

In April 2012, Disneyland(R) Paris will launch the celebrations of its 20th
Anniversary. A number of brand new experiences await guests, including Disney Dreams(R)!,
a night-time show with classic Disney storytelling and the latest technical special
effects. There will also be new opportunities to meet Disney characters, including Disney
Magic on Parade! and Disney's 20th Anniversary Celebration Train.

Next Scheduled Release in April 2012: Semester report on the liquidity

contract

Additional financial information can be found on the internet at

http://corporate.disneylandparis.com

Code ISIN : FR0010540740
Code Reuters : EDLP.PA
Code Bloomberg : EDL:FP

The Group operates Disneyland(R) 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 Village(R), a dining, shopping and entertainment center, and a 27-hole
golf course. The Group's operating activities also include the development of the
2,230-hectare site, half of which is yet to be developed. Euro Disney S.C.A.'s shares are
listed and traded on Euronext Paris.

Press Contact
Laurent Manologlou
Tel : +331-64-74-59-50
Fax : +331-64-74-59-69
e-mail : laurent.manologlou@disney.com

Investor Relations
Olivier Lambert
Tel : +331-64-74-58-55
Fax : +331-64-74-56-36
e-mail : olivier.lambert@disney.com

Corporate Communication
Francois Banon
Tel : +331-64-74-59-50
Fax : +331-64-74-59-69
e-mail : francois.banon@disney.com

Source: Euro Disney S.C.A.

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