EuroDisney, operating company of the Disneyland Resort near Paris, has announced results for fiscal 2003 showing falls in both turnover and theme park attendance.

Revenues for the year fell by 2.1 per cent to 1053.1m euros, which the company said reflected a continuing downturn in European travel and tourism, strikes and other stoppages throughout France during the year, and economic conditions in its key markets generally.

The group’s total net loss for the period was 56m euros, compared with a loss of 33.1m euros at the same time last year. This was put down to lower revenues, higher direct operating costs due to a full year at Walt Disney Studios Park, and higher advertising costs.

The loss would have been higher but for The Walt Disney Company waiving payment of royalties and management fees for the last three quarters of the year.

Theme park guest numbers which, from 16 March 2002 include Walt Disney Studios Park, fell 5.3 per cent to 12.4m. Hotel occupancy was down 3.1 per cent to 85.1 per cent.

Andre Lacroix, chair and chief executive officer of EuroDisney, said: “Fiscal 2003 was a particularly difficult year for the tourism industry and our company was not immune to the difficulties that all operators experienced. Our results reflect this year’s unusual circumstances.”

Looking ahead, Lacroix said: “Fiscal 2004 will be impacted by both a new European marketing strategy and the negotiations for a new financial structure designed to meet our long-term objectives.”

“We believe in our future. Disneyland Resort Paris is and will remain the only truly magical destination in Europe.” Details: www.eurodisney.com