Finance: Euro Disney losses triple over 2004

Posted at 5:41 PM EST (2241 GMT)

Nov. 9th, 2004 -- Euro Disney's official financial report for the 2004 fiscal year has been released. Although the news was not expected to be very good, given the company's poor performance over recent years, some numbers were worse then the company expected.

Prevalent among the numbers was the net loss over the 2004 fiscal year, which ended Sept. 30. In 2003, Euro Disney lost 56 million euros, about $72 million. For the 2004 year, that number nearly tripled to 145 million euros, or $188 million.

>

The number of visitors to Euro Disney parks was about 12.4 million guests, the same as last year. Visitor spending did increase 5%, but was severely offset by several other factors, including negotiation fees, royalty payments, and operating costs. A deal reached in Sept. could help pull Euro Disney out of its dire financial situation.

>

Visit Forbes for more.