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<strong>2014</strong><br />

ANNUAL<br />

REVIEW


#<br />

1<br />

EUROPEAN TOURIST DESTINATION,<br />

WITH ALMOST 300 MILLION VISITS SINCE OPENING<br />

5 th<br />

LARGEST HOTEL CAPACITY IN FRANCE,<br />

WITH OVER 5,800 ROOMS<br />

DISNEYLAND ® PARIS,<br />

WHERE IMAGINATION<br />

COMES TO LIFE<br />

+ 3<br />

POINTS IN GUEST SATISFACTION<br />

FOR THE PARKS IN FISCAL YEAR <strong>2014</strong><br />

55<br />

RESTAURANTS<br />

63<br />

BOUTIQUES, INCLUDING CHEZ MARIANNE<br />

(SOUVENIRS DE PARIS)<br />

THAT OPENED IN NOVEMBER <strong>2014</strong><br />

14 2 M<br />

•<br />

VISITS IN FISCAL YEAR <strong>2014</strong><br />

+5 %<br />

AVERAGE GUEST SPENDING IN THEME PARKS<br />

DURING FISCAL YEAR <strong>2014</strong><br />

€1• 28 Bn<br />

IN REVENUES<br />

FOR FISCAL YEAR <strong>2014</strong><br />

15,000*<br />

CAST MEMBERS** APPROXIMATELY<br />

€1Bn<br />

RECAPITALIZATION PROPOSAL<br />

FOR THE EURO DISNEY S.C.A. GROUP<br />

Scene from Frozen in the Disney Dreams ® ! of Christmas spectacular.<br />

* Source: Group’s 2013 Bilan Social employment report published in <strong>2014</strong>. ** Euro Disney S.C.A. employees.


Ratatouille<br />

L’AVENTURE TOTALEMENT TOQUÉE<br />

DE RÉMY<br />

NEW UNMISSABLE<br />

“RAT-TRACTION”<br />

© Disney•Pixar<br />

A brand-new attraction opened its doors on July 10, Ratatouille : L’Aventure Totalement Toquée de Rémy.<br />

In the heart of Walt Disney Studios ® Park, the entire Place de Rémy development pays tribute to the French<br />

capital and offers guests a uniquely immersive experience in the magic of the Disney•Pixar movie.<br />

Shrunk to the size of a rat, guests are whisked into the world of the Ratatouille animated movie.<br />

The adventure continues at the new Bistrot Chez Rémy restaurant with its cuisine française,<br />

as well as in the new boutique which opened in November <strong>2014</strong>, Chez Marianne (Souvenirs de Paris).<br />

Scan for more<br />

information


<strong>2014</strong> IN REVIEW<br />

Scan for more<br />

information<br />

14<br />

22<br />

28<br />

34 40<br />

08<br />

THE EURO DISNEY S.C.A. GROUP<br />

RECAPITALIZATION PROPOSAL<br />

© Disney•Pixar<br />

© Disney•Pixar<br />

10<br />

“INVESTMENT IS AT THE HEART<br />

OF OUR STRATEGY”<br />

Interview with Tom Wolber,<br />

Président - Euro Disney S.A.S.<br />

12<br />

CORPORATE GOVERNANCE BODIES<br />

REMY COMES TO<br />

DISNEYLAND PARIS<br />

In <strong>2014</strong>, the Euro Disney S.C.A.<br />

group continued to invest signifi cantly<br />

in the resort to deliver the very best<br />

experience possible for guests.<br />

The opening of Ratatouille :<br />

L’Aventure Totalement Toquée<br />

de Rémy was the fl agship event<br />

of the year. Leveraging innovative<br />

technology, this attraction plunges<br />

guests into a fairy tale world as<br />

never before!<br />

A DEDICATED TEAM<br />

DELIVERING DISNEY MAGIC<br />

The magic of Disneyland Paris lies<br />

in the commitment, skill and expertise<br />

of its 15,000* or so Cast Members.<br />

Every day, driven by the Disney culture<br />

and a proactive human resources<br />

strategy focusing on cast talent<br />

and professionalism, team members<br />

help create unforgettable experiences<br />

for thousands of families in the true<br />

Disney tradition.<br />

* Source: Group’s 2013 Bilan Social employment report<br />

published in <strong>2014</strong>.<br />

A COMPELLING OFFER<br />

TO DRIVE GUEST SATISFACTION<br />

Throughout the year, the group<br />

enhanced the quality of its parks,<br />

hotels, boutiques and restaurants,<br />

in order to deliver the Disney magic.<br />

That quality was seen in a brandnew<br />

Ratatouille-inspired attraction,<br />

innovative shows, revamped<br />

attractions, an on-going hotel<br />

renovation program and a new<br />

strategic alliance.<br />

INNOVATION IN SERVICE EXCELLENCE<br />

An exceptional destination,<br />

Disneyland ® Paris has welcomed<br />

millions of guests for over 20 years<br />

and has been the catalyst for countless<br />

unforgettable experiences. The group’s<br />

success lies in its in-depth knowledge<br />

of guests of all ages, as well as its<br />

ability to innovate. This tradition can<br />

be found in all of the group’s activities –<br />

from its theme park activity to<br />

its approach to sustainable<br />

development.<br />

CORPORATE CITIZENSHIP<br />

The Euro Disney S.C.A. group<br />

places respect and consideration<br />

of its Cast Members at the heart of<br />

its priorities because they are behind<br />

every magical moment created at<br />

the resort. The group’s outreach<br />

activity goes far beyond its immediate<br />

neighbors. The group's values and<br />

integration within the community have<br />

resulted in responsibilities in many<br />

different areas.


RECAPITALIZATION PROPOSAL<br />

THE EURO DISNEY S.C.A. GROUP<br />

A WIDELY-SUPPORTED PROJECT<br />

On October 6, <strong>2014</strong>, The Euro Disney S.C.A. group (hereafter "Group") announced a €1 billion<br />

recapitalization proposal, backed by The Walt Disney Company. This proposal is key to improving<br />

the Group’s financial position, and enabling it to continue investing in the resort. If implemented,<br />

this recapitalization project will enable the Group to be better positioned to leverage economic<br />

recovery in the years ahead.<br />

A PROPOSAL BACKED BY THE WALT DISNEY COMPANY<br />

€1<br />

Billion<br />

capital increase<br />

to Euro Disney S.C.A. and<br />

its principal operating company<br />

2024<br />

Reimbursement date<br />

for loans granted<br />

by The Walt Disney Company<br />

EXPECTED IMPACT OF THE PROPOSAL<br />

€420<br />

Million<br />

cash infusion<br />

made or guaranteed<br />

by The Walt Disney Company<br />

€350<br />

Million<br />

new credit line maturing<br />

in December 2023<br />

€600<br />

Million<br />

conversion of debt held<br />

by The Walt Disney Company<br />

Euro Disney S.C.A. shareholders<br />

will have an opportunity<br />

to participate in the capital<br />

increase alongside<br />

The Walt Disney Company.<br />

As a result of the proposal and in accordance with applicable regulations, The Walt Disney Company would be required to launch<br />

a tender offer on Euro Disney S.C.A. shares.<br />

Improve<br />

the cash position<br />

of Euro Disney S.C.A. by approximately €250 million<br />

(as of September 30, <strong>2014</strong>)<br />

Reduce<br />

the Group’s debt<br />

by approximately €750 million<br />

(as of September 30, <strong>2014</strong>)<br />

Improve<br />

the Group’s liquidity<br />

via deferred principal agreements<br />

and converted debt<br />

Continued<br />

investment strategy<br />

aimed at improving quality<br />

and guest satisfaction<br />

Disneyland Paris has attracted<br />

275 million visitors, generated close<br />

to 7% of France’s tourism revenues<br />

[in foreign currency] and created<br />

55,000 jobs.<br />

LAURENT FABIUS,<br />

Minister for Foreign Affairs & International Development<br />

October 14, <strong>2014</strong><br />

The city of Paris salutes the decision<br />

by Euro Disney S.C.A. to lead<br />

a €1 billion recapitalization operation.<br />

By investing in Disneyland Paris,<br />

the group proportionally reinforces<br />

the attractiveness of the entire<br />

Île-de-France region.<br />

ANNE HIDALGO,<br />

Mayor of Paris,<br />

October 10, <strong>2014</strong><br />

This proposal to recapitalize<br />

the Euro Disney S.C.A. group is<br />

essential to improve our financial<br />

health and enable us to continue<br />

making investments in the resort that<br />

enhance the guest experience.<br />

TOM WOLBER,<br />

Président, Euro Disney S.A.S.<br />

October 6, <strong>2014</strong><br />

This decision is a vote of confidence<br />

for Europe, France and the<br />

Seine-et-Marne region. It favors<br />

employment – despite the difficult<br />

economic context. For me, that’s<br />

an important factor.<br />

This recommitment is an asset<br />

for our region, and I’m very happy<br />

about that. These new means<br />

ensure the long-term projects<br />

of Euro Disney S.C.A. as well as<br />

its current development.<br />

VINCENT EBLÉ,<br />

Senator & Président<br />

of the Seine-et-Marne Conseil Général<br />

October 7, <strong>2014</strong><br />

The Supervisory Board of<br />

Euro Disney S.C.A. unanimously<br />

supports this proposal which<br />

would benefit the Euro Disney<br />

S.C.A. group. With the backing<br />

of The Walt Disney Company, this<br />

operation will reduce Euro Disney’s<br />

debt and provide new means<br />

to invest in Disneyland Paris.<br />

VIRGINIE CALMELS,<br />

Chairman of the Euro Disney S.C.A.<br />

Supervisory Board<br />

October 6, <strong>2014</strong>


<strong>2014</strong> ANNUAL REVIEW<br />

INTERVIEW WITH<br />

TOM WOLBER<br />

PRÉSIDENT OF EURO DISNEY S.A.S.<br />

Tom Wolber succeeded Philippe Gas as Président<br />

of Euro Disney S.A.S. in September <strong>2014</strong>.<br />

Tom brings to the role 25 years of Disney<br />

experience, after having held senior management<br />

positions with Disney Cruise Line, Disney Vacation<br />

Club, Walt Disney World and Disneyland Paris.<br />

WHAT ARE YOUR STRATEGIC PRIORITIES<br />

IN THE CURRENT CONTEXT<br />

T.W. Over the next three years, we will further boost our<br />

investments aimed at supporting our strategy. Quality and<br />

innovation are the sine qua non conditions for our long-term<br />

success. These values are completely in line with my 25 years’<br />

experience with The Walt Disney Company. I will continue to<br />

work alongside our teams to strengthen the experience and<br />

make improving quality a priority for everyone.<br />

As the flagship for the Disney brand in Europe, Disneyland ® Paris<br />

has significant potential in terms of guest numbers – regardless<br />

of whether they are children, adults or even today’s adults who<br />

first came as children 20 years ago! The magic of Disneyland<br />

Paris transcends the generations. Improving our resort sales<br />

network represents a great opportunity for us, particularly in<br />

“<br />

TOGETHER WE WILL<br />

CONTINUE TO GIVE OUR<br />

GUESTS EXCEPTIONAL<br />

EXPERIENCES AND ENSURE<br />

THAT DISNEYLAND PARIS<br />

REMAINS EUROPE’S NUMBER<br />

ONE TOURIST DESTINATION.<br />

“<br />

Italy, Spain and the United Kingdom.<br />

HOW DO YOU SEE<br />

DISNEYLAND ® PARIS<br />

WHAT WERE THE HIGHLIGHTS OF <strong>2014</strong><br />

T.W. The economic slowdown in Europe continued to impact<br />

T.W. This is a resort that I am particularly attached to, after<br />

our business in <strong>2014</strong>, particularly in the French market.<br />

having helped open Disneyland Paris 22 years ago. I am really<br />

However, we did make significant progress in several areas.<br />

impressed by everything that has been achieved here since<br />

1992. Over the last 20 years or so, Disneyland Paris has firmly<br />

established itself as Europe’s number one tourist destination,<br />

with over 14.2 million visits this year. The Group plays a key<br />

role in the French economic and employment landscape, with<br />

around 15,000* Cast Members and approximately 55,000 direct,<br />

indirect and induced jobs created since opening. Past research<br />

has shown that satisfaction has continued to increase. Despite<br />

the soft economic environment that we currently operate in,<br />

a significant number of people intend to visit our resort.<br />

Our new attraction, Ratatouille : L’Aventure Totalement Toquée<br />

de Rémy, has already been successfull. Within just three<br />

months it had climbed into our guests’ favorite top three<br />

attractions.<br />

The second positive factor relates to guest satisfaction,<br />

which has climbed 3 points due to the addition of our new<br />

Paris-themed area that includes the Ratatouille attraction and<br />

the new Bistrot Chez Rémy restaurant. We are also seeing<br />

encouraging signs, with average guest spending in the theme<br />

parks increasing by 5% to reach a record level of €50.66.<br />

“<br />

INVESTMENT<br />

IS AT THE HEART<br />

OF OUR STRATEGY<br />

TO IMPROVE GUEST<br />

SATISFACTION OVER<br />

THE LONG TERM<br />

HOW WILL YOU IMPLEMENT<br />

THIS STRATEGY<br />

T.W. Our €1 billion recapitalization plan, which is backed by<br />

The Walt Disney Company, is essential to support our strategy.<br />

This recapitalization will give us the necessary resources<br />

to continue investing in order to renovate our hotels, upgrade<br />

our attractions and strengthen the guest experience.<br />

Together we will continue to give our guests exceptional<br />

All of this was made possible by the strategy implemented over<br />

many years, and in particular by Philippe Gas during the six<br />

years he was at the head of our Group. I would like to thank<br />

Philippe for his leadership during this time. It’s also the result of<br />

All of these improvements show a return on our strategy that<br />

focuses on driving guest satisfaction, both in terms of our theme<br />

parks and hotel business.<br />

“<br />

experiences and ensure that Disneyland Paris remains Europe’s<br />

number one tourist destination.<br />

the dedication of our Cast Members who enable, day after day,<br />

thousands of families to enjoy unforgettable Disney experiences.<br />

Disneyland Paris would never have become this unique and<br />

magical resort without their commitment and talent.<br />

* Source: Group’s 2013 Bilan Social employment report published in <strong>2014</strong>.<br />

10 11


<strong>2014</strong> ANNUAL REVIEW<br />

CORPORATE GOVERNANCE BODIES<br />

The Euro Disney S.C.A. group is composed of the holding company, Euro Disney S.C.A., and the operating<br />

companies Euro Disney Associés S.C.A. and EDL Hôtels S.C.A., structured as sociétés en commandite<br />

par actions (S.C.A.).<br />

FOUR GOVERNANCE BODIES<br />

THE MANAGEMENT TEAM<br />

THE GÉRANT (EURO DISNEY S.A.S.)<br />

is in charge of managing the Group in the Group’s best interests.<br />

Tom Wolber has been Président of the Group since September<br />

15, <strong>2014</strong>.<br />

Michel Corbière<br />

Member of the Supervisory Board since 2006<br />

Corbière is the founder and Chief Executive Officer of the Forest Hill group and<br />

of the French company Aquaboulevard de Paris.<br />

Composed of international executives with solid experience,<br />

the Management Team defines the Group's strategies.<br />

Its members report directly to the Président.<br />

THE GENERAL PARTNER (EDL PARTICIPATIONS S.A.S.)<br />

has unlimited liability for all debts and liabilities.<br />

THE LIMITED PARTNERS<br />

are the shareholders. They are invited at least once a year<br />

to a general meeting to deliberate in accordance with the legal<br />

and regulatory requirements in effect.<br />

THE SUPERVISORY BOARD<br />

is responsible for monitoring the way the Group is managed. It acts<br />

in the best interests of the Group and its shareholders. Composed<br />

of ten members from various backgrounds, the board oversees<br />

the transparency and quality of information communicated to<br />

shareholders. It enlists the assistance of two specialized committees:<br />

Axel Duroux<br />

Member of the Supervisory Board since 2013<br />

Duroux is Executive Vice President Emerging and High-Growth Markets for the<br />

Publicis group. He is also Director of AXMA S.A., specialized in new content and<br />

digital communication, as well as a member of the Institut National de l'Audiovisuel<br />

(French National Audiovisual Institute) Supervisory Board.<br />

Philippe Geslin<br />

Member of the Supervisory Board and Chairman<br />

of the Audit Committee since 2007<br />

Geslin holds various corporate positions and board memberships in financial<br />

institutions and major companies (Crédit Foncier de Monaco and Union Financière<br />

de France-Banque).<br />

Philippe Labro<br />

Member of the Supervisory Board since 1996 and<br />

member of the Nomination Committee since 2002<br />

Labro is Project Director, Design and Operations of Labrocom S.A.R.L.<br />

and Chairman of the Prix RTL Lire award.<br />

Tom Wolber<br />

Président, Euro Disney S.A.S.*<br />

Claire Bilby<br />

Senior Vice President,<br />

Sales & Marketing<br />

Daniel Delcourt<br />

Senior Vice President<br />

& Chief Operating Offi cer**<br />

the Audit Committee and the Nomination Committee.<br />

Virginie Calmels<br />

Chairman of the Supervisory Board since 2013<br />

Elected to the Supervisory Board in 2011, Calmels is currently Vice President of<br />

the Centre d'étude et de Prospective Stratégique (Center for Long-Term Strategic<br />

Studies) and Administrator for Medef Paris.<br />

Valérie Bernis<br />

Member of the Supervisory Board and<br />

the Audit Committee since 2008<br />

Bernis is Executive Vice President of GDF Suez and both Administrator and member<br />

of the Nomination Committee for L’Occitane.<br />

James A. Rasulo<br />

Member of the Supervisory Board since 2003<br />

Rasulo is Senior Executive Vice President and Chief Financial Offi cer of The Walt<br />

Disney Company.<br />

Anthony Martin Robinson<br />

Member of the Supervisory Board since 2004<br />

and member of the Audit Committee since 2005<br />

Robinson is Executive Chairman of Center Parcs (UK) Group Ltd.<br />

Thomas O. Staggs<br />

Member of the Supervisory Board and<br />

the Nomination Committee since 2002<br />

Mark Stead<br />

Senior Vice President<br />

& Chief Financial Offi cer<br />

François Banon<br />

Vice President, Public Affairs<br />

Communication Europe<br />

Francis Borezée<br />

Vice President, Resort<br />

& Real-Estate Development<br />

Gérard Bouché<br />

Member of the Supervisory Board since 2007<br />

Bouché is the owner and operator of E. Leclerc Shopping Center in Coulommiers<br />

and of Boutigny Golf Course (Seine-et-Marne, France). He is also Chairman<br />

of Bouché Distribution S.A.S.<br />

Staggs is Chairman of Walt Disney Parks & Resorts Worldwide within The Walt<br />

Disney Company.<br />

Gilles Dobelle<br />

Managing Vice President &<br />

General Counsel<br />

Daniel Dreux<br />

Vice President,<br />

Human Resources<br />

Julien Kauffmann<br />

Vice President, Revenue<br />

Management & Analytics<br />

* Replaced Philippe Gas on September 15, <strong>2014</strong>. ** Replaced Joe Schott on July 1, <strong>2014</strong>.<br />

12 13


REMY COMES<br />

TO DISNEYLAND PARIS<br />

In <strong>2014</strong>, the Group continued<br />

to invest signifi cantly in the resort<br />

to deliver the very best experience<br />

possible for guests. The opening<br />

of Ratatouille : L’Aventure Totalement<br />

Toquée de Rémy was the fl agship<br />

event of the year. Leveraging<br />

innovative technology, this attraction<br />

plunges guests into a fairy tale<br />

world as never before!<br />

16<br />

18<br />

20<br />

KEY EVENTS<br />

IN FISCAL YEAR <strong>2014</strong><br />

CONTINUED INVESTMENT<br />

IN A CHALLENGING ECONOMIC CONTEXT<br />

EURO DISNEY S.C.A.<br />

AND ITS SHAREHOLDERS<br />

© Disney•Pixar


<strong>2014</strong> ANNUAL REVIEW<br />

KEY EVENTS<br />

IN FISCAL YEAR <strong>2014</strong><br />

NEW RATATOUILLE ATTRACTION OPENS ITS DOORS<br />

FACELIFT FOR THE ATTRACTION INDIANA JONES ET LE TEMPLE DU PÉRIL<br />

After five months of intensive renovation,<br />

Indiana Jones et le Temple du Péril was<br />

reopened on May 29, <strong>2014</strong>. Thanks to the<br />

quality of the show, featuring revamped<br />

control systems and a brand-new looping,<br />

the legendary attraction has never been<br />

so spectacular. The large-scale renovation,<br />

which has delighted guests, again<br />

reflects the commitment of Disneyland ®<br />

Paris to enhance the quality of the guest<br />

experience.<br />

DISNEYLAND PARIS<br />

SWING INTO SPRING<br />

Scan for more<br />

information<br />

#<br />

1<br />

family attraction<br />

according to resort guests<br />

After five years in the works, on July<br />

10, Disneyland ® Paris unveiled its<br />

brand-new attraction, Ratatouille :<br />

L’Aventure Totalement Toquée de Rémy.<br />

Inspired by the most français of all the<br />

Disney•Pixar animated movies, this ride<br />

is a tribute to France and its creative<br />

talents. A masterpiece of technology and<br />

innovation, where guests are whisked<br />

into the heart of the Ratatouille movie,<br />

this unique and immersive experience<br />

stimulates all five senses. To celebrate<br />

the opening, 1,000 children from across<br />

Paris were invited to discover the new<br />

attraction. There to welcome the kids<br />

were the Mayor of Paris (Anne Hidalgo<br />

– see above) as well as Philippe Gas<br />

(Président of Euro Disney S.A.S. until<br />

September 14, <strong>2014</strong>). Together the<br />

Group inaugurated La Place de Rémy, the<br />

all-new Paris-inspired area in Walt Disney<br />

Studios ® Park. For a whole day, the invited<br />

children who were not fortunate enough<br />

to go on a summer vacation, enjoyed an<br />

incredible adventure alongside the Disney<br />

VoluntEARS – Disney employees who<br />

donate their time to company-sponsored<br />

outreach programs.<br />

From April 5 to June 22, Disneyland Paris<br />

celebrated the arrival of spring with its<br />

new Swing into Spring season. The celebration<br />

offered guests a new sensory<br />

experience, ablaze with color and music.<br />

Disneyland Paris harnessed its creative<br />

talents to salute the arrival of fine weather,<br />

with exciting entertainment, live performances,<br />

custom-designed choreography,<br />

music and floral decorations. With this<br />

spring celebration, Disneyland Paris is<br />

meeting guest requests for more live<br />

entertainment while offering a limitedtime-only<br />

experience.<br />

VILLAGES NATURE CONSTRUCTION WORK KICKS OFF<br />

Construction on Phase 1A of the Villages<br />

Nature destination was jointly announced<br />

in May <strong>2014</strong> by Euro Disney S.C.A., Pierre<br />

& Vacances – Center Parcs and Les<br />

Villages Nature de Val d’Europe S.A.S.<br />

Villages Nature will be an innovative<br />

new European family resort with the<br />

principles of sustainable development at<br />

its very heart. It will focus on the quest for<br />

harmony between Man and Nature. The<br />

resort is being developed through a joint<br />

venture involving Euro Disney S.C.A. and<br />

Pierre & Vacances – Center Parcs. The<br />

first phase of the resort is scheduled to<br />

Hanging Gardens and Lakeside Promenade<br />

open in 2016.<br />

“IT’S A SMALL WORLD” CELEBRATES ITS 50 TH ANNIVERSARY WITH UNICEF<br />

Created by Walt Disney himself, for the packed full of surprises, as well as a<br />

UNICEF Pavilion at the New York World ride-a-thon of the famous attraction.<br />

Fair, the now classic Disney theme park On the website specially created<br />

attraction “it’s a small world” celebrated for the event, fans around the world<br />

its 50 th anniversary on April 10. To honor were encouraged to participate in the<br />

the attraction and its incredibly catchy fundraising efforts by sharing their<br />

tune, Disneyland Paris teamed up with personal sing-along videos. The Walt<br />

its sister Disney resorts around the world Disney Company made a $250,000<br />

to raise funds for UNICEF. Disneyland donation to UNICEF as part of this<br />

Paris organized an enormous sing-along, world-wide celebration.<br />

16 17


<strong>2014</strong> ANNUAL REVIEW<br />

OVERVIEW OF <strong>2014</strong> RESULTS<br />

FINANCIAL FIGURES<br />

Revenues<br />

€ in millions<br />

Operating margin<br />

€ in millions<br />

EBITDA*<br />

€ in millions, as % of revenues<br />

1, 324.3<br />

1 ,309.4<br />

1, 279.7<br />

3.4<br />

(27.5)<br />

(65.4)<br />

13.4%<br />

11%<br />

177.2<br />

144.3<br />

8.9%<br />

113.8<br />

2012 2013 <strong>2014</strong><br />

2012 2013 <strong>2014</strong> 2012 2013 <strong>2014</strong><br />

CONTINUED INVESTMENT<br />

IN A CHALLENGING ECONOMIC CONTEXT<br />

OVERVIEW BY MARK STEAD, CHIEF FINANCIAL OFFICER<br />

Net loss<br />

€ in millions<br />

(100.2)<br />

(78.2)<br />

(113.6)<br />

Consolidated debt<br />

€ in millions<br />

1, 711.0<br />

1 ,709.4<br />

1 ,747.7<br />

Revenue generated<br />

by activity in <strong>2014</strong><br />

3.1%<br />

Other Revenues<br />

2.2%<br />

Real-Estate<br />

Development<br />

During fiscal year <strong>2014</strong>, the Euro<br />

Disney S.C.A. group maintained its<br />

investment strategy to drive quality<br />

and guest satisfaction. Nonetheless,<br />

the financial results were impacted by<br />

the softness in the European economy.<br />

Revenues decreased by 2% to €1.28<br />

billion due to a reduction in park<br />

attendance and hotel occupancy,<br />

partially offset by guest spending as well<br />

as an increase in real-estate revenues.<br />

For several years now, our strategy has<br />

focused on improving quality in order<br />

to enhance the guest experience and<br />

drive levels of guest spending. This calls<br />

for important investments throughout<br />

the resort, with the creation of new<br />

experiences in our parks, as for example<br />

Over<br />

€400<br />

million<br />

invested since 2012<br />

with the Ratatouille-inspired attraction<br />

we opened last July, and the multi-year<br />

renovation program for our 5,800 hotel<br />

rooms. This year alone, we refurbished<br />

half of the 1,100 rooms in Disney’s<br />

Newport Bay Club ® – our largest hotel.<br />

Our strategy is starting to see results:<br />

in-park guest spending has increased<br />

by 5% in <strong>2014</strong> (reaching the symbolic<br />

€50 mark), which offset the decrease<br />

in volumes.<br />

Since 2012, we have invested more<br />

than €400 million in resort renovation<br />

and development. Over the next three<br />

years, we intend to continue increasing<br />

this investment. Investment is essential<br />

for continued innovation and to ensure<br />

that Disneyland ® Paris remains an<br />

exceptional destination for millions of<br />

guests. This is not just a belief. It is a<br />

reality that can be seen in the fact that<br />

guest satisfaction rose by 3 points in<br />

<strong>2014</strong>. Furthermore, in the fourth quarter of<br />

fiscal year <strong>2014</strong> (following the Ratatouille<br />

opening) the overall guest satisfaction rate<br />

for Walt Disney Studios ® Park increased by<br />

4 points. In order to maintain our strategy,<br />

we must improve the financial situation<br />

of our Group. For this reason, in October<br />

<strong>2014</strong> we announced a €1 billion recapitalization<br />

project. The proposal will enable<br />

us to reduce our debt significantly and<br />

to have the necessary financial flexibility<br />

to maintain our investments.<br />

We look to the future with confidence.<br />

I am convinced that we can achieve<br />

renewed growth by continuing to invest<br />

and by realizing this recapitalization<br />

project. By doing this, we will be well<br />

positioned to leverage economic recovery<br />

when it arises.<br />

Scan for more<br />

information<br />

KEY OPERATING STATISTICS<br />

PARKS<br />

2012 2013 <strong>2014</strong><br />

* Earnings before interest, taxes, depreciation, and amortization.<br />

Theme park attendance<br />

in million visits<br />

14 2<br />

•<br />

Average spending<br />

per guest<br />

excluding VAT<br />

50 66<br />

•<br />

HOTELS<br />

2012 2013 <strong>2014</strong><br />

Hotel occupancy rate<br />

75 4%<br />

•<br />

Average spending<br />

per room<br />

in €, excluding VAT<br />

232 26<br />

•<br />

38.3%<br />

Hotels &<br />

Disney ® Village<br />

INTENTION TO REVISIT<br />

89%<br />

of guests<br />

would consider<br />

returning.<br />

93%<br />

of guests<br />

would recommend<br />

the destination.<br />

56.4%<br />

Theme Parks<br />

18 19


<strong>2014</strong> ANNUAL REVIEW<br />

STRENGTHENING SHAREHOLDER RELATIONS<br />

The Euro Disney S.C.A. Investor Relations<br />

team maintains a solid ongoing relationship<br />

with the financial community. The team<br />

works directly with financial analysts and<br />

investors, providing them with clear and<br />

relevant information in a proactive manner.<br />

The Shareholders Club, founded in 1995,<br />

aims to strengthen relations between<br />

Euro Disney S.C.A. and its shareholders.<br />

Throughout the year, the club members are<br />

kept informed of all aspects of the Group’s<br />

activities, financial performance, as well<br />

as its <strong>annual</strong> general meeting. In addition,<br />

under certain conditions, members of the<br />

Shareholders Club can benefit from services<br />

and special offers. These include discounts<br />

for Disneyland ® Paris and personal invitations<br />

to events organized by the club. The<br />

Shareholders Club is open to shareholders<br />

holding a minimum of 100 Euro Disney<br />

S.C.A*. shares in a bearer or registered<br />

form. They have access to a dedicated<br />

Disneyland Paris information and reservation<br />

phone line, where Shareholders Club<br />

representatives are available to answer<br />

questions. Shareholders may also receive<br />

information on Euro Disney S.C.A. via the<br />

Shareholders Club newsletters. In addition,<br />

they can access a dedicated online space<br />

to make reservations for private Shareholder<br />

events. All details can be found by going online:<br />

http://corporate.disneylandparis.com/<br />

investor-relations.<br />

* With the exception of two situations, as described in the General<br />

Conditions of the Shareholders Club, to be found at the line above.<br />

SHAREHOLDER INFORMATION<br />

EURO DISNEY S.C.A. AND ITS SHAREHOLDERS<br />

SHARE PRICE EVOLUTION<br />

NYSE EURONEXT PARIS<br />

Euro Disney S.C.A. has been listed on the Paris stock exchange since November 6, 1989, with 40% of its share<br />

capital currently held by The Walt Disney Company 1 . The Group’s Investor Relations team informs shareholders<br />

of activities and events. In November 2013, Les Échos and Investir presented the Investor Relations team with<br />

a shareholder relations award (Prix de la Relation Actionnaires) for the Small Caps category.<br />

7.00<br />

6.00<br />

CAC40 All-Tradable Rebased<br />

EDL Share Price<br />

Volume<br />

38,976,490 shares<br />

(nominal value: €1 per share)<br />

Eurolist Segment B<br />

(Mid Caps)<br />

Mnemonic<br />

EDL<br />

STRUCTURE AND ORGANIZATION OF THE GROUP<br />

EDL Participation S.A.S.<br />

Public shareholders*<br />

100%<br />

60.2%<br />

99.9% EDL Holding Company LLC<br />

39.8%<br />

Euro Disney S.C.A.<br />

100% Euro Disney<br />

Commandité S.A.S.<br />

82%<br />

5.00<br />

4.00<br />

3.00<br />

2.00<br />

1.00<br />

0.00<br />

Oct.<br />

13<br />

Nov.<br />

13<br />

Dec.<br />

13<br />

Jan.<br />

14<br />

Feb.<br />

14<br />

Mar.<br />

14<br />

Apr.<br />

14<br />

May<br />

14<br />

Jun.<br />

14<br />

Jul.<br />

14<br />

Aug.<br />

14<br />

Sep.<br />

14<br />

ISIN Code<br />

FR0010540740<br />

Market Indexes<br />

CAC Mid & Small, CAC Small,<br />

CAC All-Tradable, CAC All Shares,<br />

CAC Consumer Services,<br />

CAC Travel & Leisure,<br />

SBF 250,<br />

Next 150,<br />

Gaïa Index.<br />

TWDC<br />

100%<br />

100%<br />

100%<br />

Euro Disney S.A.S.<br />

Centre de Congrès Newport S.N.C.**<br />

Euro Disney Investments S.A.S.<br />

EDL Corporation S.A.S.<br />

Euro Disney Associés S.C.A.<br />

owns and operates<br />

Disneyland ® Park<br />

Walt Disney Studios ® Park<br />

Disneyland ® Hotel<br />

Disney’s Davy Crockett Ranch<br />

Golf Disneyland ®<br />

EDL Hôtels S.C.A.<br />

owns and operates<br />

Disney’s Hotel New York ®<br />

Disney’s Sequoia Lodge ®<br />

Disney’s Newport Bay Club ®<br />

Disney’s Hotel Cheyenne ®<br />

Disney’s Hotel Santa Fe ®<br />

Disney Village ®<br />

9%<br />

9%<br />

99.9%<br />

Key:<br />

Ownership /<br />

Shareholders<br />

General Partners<br />

Gérance<br />

* Including Kingdom 5-KR-134 Ltd<br />

(HRH Prince Alwaleed), 10.0%<br />

** Financing Company of the Newport Bay<br />

Club Convention Center<br />

SHAREHOLDER STRUCTURE<br />

On September 30, <strong>2014</strong><br />

50.2%<br />

Other shareholders<br />

39.8%<br />

The Walt Disney Company*<br />

10%<br />

HRH Prince Alwaleed**<br />

* 99.9% owned by the subsidiary EDL Holding Company LLC.<br />

** Via Kingdom 5-KR-134 Ltd, a company whose share capital is held by trusts for the benefi t of HRH Prince Alwaleed and his family.<br />

CONTACTS<br />

Investor Relations<br />

Tel.: +33 (0)1 64 74 58 55<br />

Fax: +33 (0)1 64 74 56 36<br />

Shareholder Relations<br />

From 9:30 a.m. to 5:30 p.m.<br />

(local time), from Monday to Friday.<br />

Tel.: 00 800 64 74 56 30 *<br />

Email: eurodisney@clubactionnaires.com<br />

Fax: +33 (0)1 64 74 56 36<br />

* Free number from a land line and national operators<br />

in Belgium, France, Germany, Italy, the Netherlands,<br />

Spain and the United Kingdom.<br />

From other countries, please call:<br />

+33 (0)1 64 74 56 30 (local rates apply).<br />

1<br />

99.9% owned by the subsidiary EDL Holding Company LLC.<br />

20 21


A DEDICATED TEAM<br />

DELIVERING DISNEY MAGIC<br />

The magic of Disneyland Paris lies<br />

in the commitment, skill and expertise<br />

of its 15,000* or so Cast Members.<br />

Every day, driven by the Disney culture<br />

and a proactive human resources<br />

strategy focusing on cast talent and<br />

professionalism, team members<br />

help create unforgettable experiences<br />

for thousands of families in the true<br />

Disney tradition.<br />

24<br />

26<br />

DEVELOPING THE TALENT<br />

AT THE HEART OF THE MAGIC<br />

A PIONEERING AND RESPONSABLE<br />

HUMAN RESOURCES STRATEGY<br />

* Source: Group’s 2013 Bilan Social employment report published in <strong>2014</strong>.


<strong>2014</strong> ANNUAL REVIEW<br />

The importance of Cast well-being is also<br />

Within this framework, the Group helped<br />

reflected in the constant attention paid<br />

to create a Tourism Cluster structure in<br />

to their security and health. In just three<br />

Val d’Europe, while playing a key role in<br />

years, €30 million have been invested<br />

promoting the program to public bodies.<br />

in the improvement of occupational<br />

In addition, accredited internal training<br />

health, security and hygiene. In addition,<br />

programs have been officially establi-<br />

a psycho-social risk monitoring program<br />

shed. These include the Certificat de<br />

is in place, as is an anonymous helpline<br />

Qualification Professionnelle (Professional<br />

staffed by psychologists. Disneyland<br />

Qualification Certificate) and the Validation<br />

Paris also has its own team responsible<br />

des acquis de l’expérience (Validation<br />

DEVELOPING THE TALENT<br />

AT THE HEART OF THE MAGIC<br />

Creativity and innovation are synonymous with the Disney brand. This is why the Group and its Cast<br />

Members are driven by these assets. That culture guides the daily actions of Disney Cast Members though<br />

a shared goal: creating unforgettable guest experiences. To keep the Disney team spirit alive, the Group<br />

implements a proactive strategy to build Cast Member commitment and strengthen professionalism within<br />

the tourism industry.<br />

85 %<br />

Cast Members satisfied*<br />

with working conditions<br />

Among<br />

50<br />

top places to work according<br />

to Great Place to Work<br />

(for Walt Disney Parks and Resorts)<br />

#<br />

1<br />

single-site employer in France<br />

and #1 private employer<br />

in the Seine-et-Marne region<br />

BUILD TEAM SATISFACTION<br />

AND ENSURE WELL-BEING<br />

With theme parks on every continent, as<br />

well as movies and characters, the Disney<br />

brand is firmly embedded in the collective<br />

imagination. Disney has strong emotional<br />

bonds with guests and also with Cast<br />

Members. Disney Cast Members are highly<br />

committed to the brand. As proof of this,<br />

15% of the Group’s employees have at least<br />

20 years’ seniority. The most recent internal<br />

survey carried out by The Walt Disney<br />

Company in <strong>2014</strong> highlighted employee<br />

commitment. Out of the Cast Members<br />

who participated, 80% said they felt<br />

proud to work for Walt Disney Parks<br />

and Resorts, of which Disneyland ® Paris<br />

is part. Cast Member satisfaction has<br />

increased by 4 points since the previous<br />

survey conducted in 2012.<br />

The results of the survey reflect the<br />

Group’s commitment to developing talent<br />

and maintaining employee satisfaction<br />

in many ways. An example of this is the<br />

CastMemberland program which focuses<br />

on improving the employee workplace<br />

experience. Special events are regularly<br />

held for Cast Members, who also<br />

benefit from proximity services (banking,<br />

dry-cleaning, hair-dressing, etc.). Since<br />

2012, three employee dining locations<br />

have been fully renovated and up-graded,<br />

making them pleasant places to relax<br />

and take a break. New services have<br />

also been introduced, and these include<br />

an al-fresco dining area and even a food<br />

truck. In addition, the Group also offers<br />

Cast Members innovative new services<br />

in other areas including the chance to<br />

develop green thumbs by working the<br />

on-site vegetable gardens at break times.<br />

for assisting anyone who feels they may<br />

have been discriminated against in the<br />

workplace. To assist Cast Members suffering<br />

from serious illness, since 2013 the<br />

Group has been operating a new service<br />

in partnership with Althalia. The service<br />

involves informing employees about<br />

specific specialists and ways to improve<br />

the efficiency of their healthcare. This<br />

program is in addition to the 60% health<br />

and personal-risk insur-ance plan already<br />

in place.<br />

PROFESSIONALISM<br />

IN THE HOSPITALITY INDUSTRY<br />

In order to guarantee Cast Members’<br />

professional well-being while reaching for<br />

excellence and quality, the Group implements<br />

a training and professionalization<br />

policy that promotes upward mobility<br />

through a number of measures. In <strong>2014</strong>,<br />

5.22% of payroll was invested in Cast<br />

Member vocational training - more than<br />

three times the minimum legal requirement.<br />

Disney University, the official internal<br />

training center, offers over 400 different<br />

training programs for Cast Members.<br />

These programs include specialized<br />

training courses which allow team<br />

members to strengthen their professional<br />

expertise and enhance their development.<br />

The commitment that Disneyland Paris<br />

makes to strengthening professionalism<br />

within the tourism industry goes far<br />

beyond internal training programs. Euro<br />

Disney S.C.A. participated in the creation<br />

of a tourism industry excellence program,<br />

therefore encouraging the development of<br />

professional training programs in France.<br />

of Field Experience) which can lead to a<br />

Bac Professionnel Service (Professional<br />

Service Baccalauréat certificate).<br />

OUR MAIN CONCERN IS TO ENSURE<br />

THAT 15,000* CAST MEMBERS<br />

LIVE AND WORK TOGETHER IN<br />

HARMONY ON A SINGLE SITE<br />

WHILE REPRESENTING A WIDE<br />

RANGE OF CULTURAL AND<br />

PROFESSIONAL BACKGROUNDS.<br />

EMPLOYEE PRIDE IN THE<br />

WORKPLACE, THE SPIRIT OF<br />

TOGETHERNESS AND THE UNIQUE<br />

ATMOSPHERE THROUGHOUT<br />

THE GROUP REPRESENT RESULTS<br />

ON A PROGRESSIVE, STABLE<br />

HUMAN RESOURCES STRATEGY<br />

THAT HAS BEEN IN PLACE<br />

FOR 22 YEARS.<br />

Daniel Dreux<br />

Vice President, Human Resources<br />

I joined Disneyland Paris in<br />

2001 on a 5-month short-term<br />

contract. At the time, I was<br />

a language student looking<br />

for a summer job. I was<br />

quickly offered a permanent<br />

contract and then spent three<br />

years working on the various<br />

attractions in Frontierland (…)<br />

I then went to the ticketing<br />

complex at Walt Disney Studios ®<br />

Park before being promoted<br />

to Team Leader. I then became<br />

an Expert Team Leader and<br />

was invited to help open<br />

Ratatouille : L’Aventure<br />

Totalement Toquée de Rémy.<br />

SVETLANA GUINÉE,<br />

Expert Team Leader<br />

* Source: Group’s 2013 Bilan Social employment report published<br />

in <strong>2014</strong>.<br />

* Source: The Walt Disney Company Cast Survey <strong>2014</strong>.<br />

24 25


<strong>2014</strong> ANNUAL REVIEW<br />

A PIONEERING AND RESPONSABLE<br />

HUMAN RESOURCES STRATEGY<br />

As the number one single-site employer in France and the largest private employer in Seine-et-Marne,<br />

the Group plays a key role in employment. The Euro Disney S.C.A. group has a responsible and proactive<br />

human resources strategy that contributes not only to the quantity of employment but also to its quality.<br />

This policy is based on hiring talent that will support the Group’s development and offer exceptional service.<br />

The policy is also rooted in enhancing talent and supporting Cast Members throughout their entire careers.<br />

“MAKING DREAMS COME TRUE IS A REAL JOB”:<br />

EMPLOYER BRAND SUPPORTING RECRUITEMENT STRATEGY<br />

Disneyland ® Paris called on its own employees to embody corporate values by featuring on posters as part of a communication campaign. This strategy leveraged<br />

the idea that the real experts on working for Disneyland Paris are the Cast Members, and they are therefore ideally positioned to convince others to join the team.<br />

Fifteen Cast Members were selected from many to take part in the campaign. This new employer brand is phase two of a recruitment campaign that first used<br />

images of kids with slogans including, “I’ll work there when I grow up.” This latest phase, launched in <strong>2014</strong>, showed Cast Members reminiscing about their own<br />

childhood dreams of working at Disneyland Paris. The employer brand was revealed to the public during an impressive Parisian casting fair organized over two<br />

days in June <strong>2014</strong>. The operation was hugely successful and generated unprecedented press coverage.<br />

ATTRACT TEAM MEMBERS<br />

FROM ALL HORIZONS<br />

The Euro Disney S.C.A. group is always<br />

on the lookout for new talent, whatever<br />

form that takes: new to the working world,<br />

more seasoned, men, women, novices,<br />

experts, graduates or on-the-job trained.<br />

Everyone has their place at Disneyland ®<br />

Paris. The most important factors are<br />

personality, motivation, ability to work in a<br />

team and a sense of hospitality.<br />

In <strong>2014</strong>, the Group launched an unprecedented<br />

recruitment campaign that saw<br />

6,350 contracts signed, of which 3,937<br />

fixed-term contracts, 1,397 intermittents<br />

and 1,016 open-ended contracts* to<br />

ensure on-going development. Of the<br />

permanent positions, around 200 were<br />

entrusted to youngsters under 26-years<br />

old and 25 positions went to over-50s.<br />

This was in line with the inter-generational<br />

agreement signed in <strong>2014</strong> with the<br />

trade unions.<br />

BUILDING EMOTIONAL BONDS<br />

FROM DAY ONE<br />

Euro Disney S.C.A. makes sure that a<br />

Cast Member‘s first steps with the Group<br />

are as memorable as the experiences that<br />

guests enjoy. The aim is twofold: to ensure<br />

Cast Members feel at home as soon as<br />

they arrive, and to quickly transmit the<br />

unique Disneyland Paris corporate culture<br />

and need for excellence. To do this, Cast<br />

Members benefit from an integration<br />

program that includes a welcome day as<br />

well as general and specialized training<br />

programs adapted to their jobs.<br />

SKILL DIVERSIFICATION<br />

AND LONG-TERM CAREERS<br />

Upward mobility and long-term careers<br />

are a reality with the Euro Disney S.C.A.<br />

group. Since 2011, the Group’s career<br />

management strategy has focused on<br />

three key points: promotion, mobility and<br />

professionalism. With 500 job classifications<br />

represented on the same site, there<br />

are many opportunities for career growth<br />

and change. Cast Members can develop<br />

within their existing field or change from<br />

one area to another. They can move<br />

from catering to boutique operations, for<br />

example, or go from attraction operations<br />

to a backstage administrative role.<br />

In addition, talent promotion and internal<br />

mobility are at the heart of the Group’s<br />

strategy. For several years, 80% of Managers<br />

and Senior Managers have been<br />

promoted internally. Several programs<br />

exist to encourage career development.<br />

One of these is the Talent School,<br />

a ten-week program that trains Cast<br />

Members to manage a team, thereby<br />

enabling them to move into a Team<br />

Leader position. Another new program,<br />

Move@DLP is a web site dedicated to<br />

internal mobility that kicked off in fiscal<br />

year <strong>2014</strong>. Employees now have easy<br />

access to internal job openings and<br />

can identify new opportunities within<br />

the Group.<br />

The Euro Disney S.C.A. group is convinced<br />

that time spent with the Group is an<br />

asset. For this reason, support is given<br />

to seniors (aged 50 and older) in order<br />

to help them prepare for a new phase<br />

in their professional lives. The Group<br />

employs Cast Members from a range<br />

of generations. This blend is a source<br />

of creativity and interaction. The notion<br />

of knowledge and skill sharing is a<br />

key Group value. It is reflected in the<br />

internship and dual-education programs<br />

(professionalization and apprentice<br />

programs). In <strong>2014</strong>, the Group employed<br />

561 dual-education program students** in<br />

many different positions, creating a new<br />

generation of professionals.<br />

* Source: <strong>2014</strong> Euro Disney S.C.A. C.S.R. report.<br />

** Source: Group's 2013 Bilan Social employment report published<br />

in <strong>2014</strong>.<br />

Scan for more<br />

information<br />

Laurent<br />

Show Writer<br />

Scan for more<br />

informations<br />

Tiphanie<br />

Analyst, Revenue<br />

Management Audit<br />

I’ve spent most of my career at<br />

Disneyland Paris. You can build<br />

family ties here, and that’s why<br />

I’m so attached to the resort.<br />

Everyone who works at Disney<br />

finds it difficult to work elsewhere<br />

because they’re so<br />

used to the atmosphere and<br />

friendliness that bring us<br />

together.<br />

LADJI TOURÉ<br />

Merchandise Host at Lilly’s Boutique<br />

Stéphane<br />

Painter Decorator<br />

Romain<br />

Maintenance Technician<br />

In the year and a half that I’ve<br />

been at Disneyland Paris I’ve<br />

spent eight months on the<br />

Autopia attraction. I came to<br />

work here just after graduating.<br />

I was hired at the Athens job<br />

fair. There are a wide range<br />

of positions on Autopia. So<br />

that means you’re not doing<br />

the same thing all day long.<br />

YANIS DIMITROPOULOS<br />

Attractions Host at the Autopia attraction<br />

Margaux<br />

Attraction Hostess<br />

My role is to accompany guests<br />

who come to Disneyland Paris<br />

to meet their favorite characters.<br />

I never really feel like I’m going<br />

to work in the morning! Every<br />

day on the job is different!<br />

I learn a lot through my contact<br />

with the guests, and I feel really<br />

happy whenever I see smiles<br />

on children’s faces!<br />

SIMON BRADLEY<br />

Character Companion<br />

CON C EPTION - C R E ATION : - ©DISNEY<br />

26 27


Throughout the year, the Group<br />

enhanced the quality of its parks, hotels,<br />

boutiques and restaurants, in order to<br />

deliver the Disney magic. That quality<br />

was seen in a brand-new Ratatouilleinspired<br />

attraction, innovative shows,<br />

revamped attractions, an on-going<br />

hotel renovation program and a new<br />

strategic alliance.<br />

30<br />

31<br />

32<br />

32<br />

33<br />

ENHANCING HOTELS<br />

AND SERVICES<br />

THEME PARKS – WHERE GUEST<br />

SATISFACTION IS NUMBER ONE PRIORITY<br />

REAL-ESTATE DEVELOPMENT:<br />

HARMONY AND QUALITY OF LIFE<br />

STRENGTHENING DIGITAL<br />

DISTRIBUTION<br />

TWELFTH NEW<br />

STRATEGIC ALLIANCE<br />

A COMPELLING<br />

OFFER<br />

TO DRIVE GUEST<br />

SATISFACTION


<strong>2014</strong> ANNUAL REVIEW<br />

ENHANCING HOTELS AND SERVICES<br />

THEME PARKS - WHERE GUEST<br />

SATISFACTION IS NUMBER ONE PRIORITY<br />

DISNEYLAND HOTEL<br />

RECEIVES HOSPITALITY<br />

AWARD!<br />

In December 2013, the Disneyland ®<br />

Hotel received the Best Hospitality Award<br />

(Trophée du Meilleur Accueil) during the<br />

Trophées de la Clientèle des hôtels 4 à 5<br />

étoiles (4-and 5-star hotel guest awards).<br />

This award recognizes the Group’s<br />

undertakings to provide guests with<br />

a unique experience, since hospitality is<br />

an integral part of the Disneyland ® Paris<br />

experience. The award is one of the few<br />

prizes based on the opinions of hotel clients<br />

as opposed to hospitality professionals.<br />

During fiscal year <strong>2014</strong>, the Euro Disney<br />

S.C.A. group continued the multi-year<br />

renovation program of its Disney hotel<br />

infrastructure. The ambitious program was<br />

launched four years ago and is designed<br />

to enhance the comfort and quality of<br />

services in the hotels. Refurbishments<br />

have already been completed on three<br />

hotels in recent years: Disney's Sequoia<br />

Lodge ® , Disney's Hotel Santa Fe ® and<br />

Disney's Davy Crockett Ranch.<br />

<strong>2014</strong> also saw the beginning of renovations<br />

on Disney’s Newport Bay Club ®<br />

– the resort’s largest hotel. The road<br />

map includes enhancing the quality and<br />

comfort standards at the New Englandstyle<br />

hotel as well as refurbishing the<br />

1,100 rooms. By late <strong>2014</strong>, around half<br />

of the entire room inventory had already<br />

been renovated. The refurbishment<br />

program now continues on the rest of the<br />

hotel, followed by its convention center.<br />

Renovation will then get underway on<br />

the remaining Disney hotels at the resort.<br />

New services being offered at the hotel<br />

now include complimentary high-speed<br />

Wi-Fi access in all public areas, thereby<br />

permitting guests to stay connected at all<br />

times. This service is already available at<br />

Golf Disneyland ® (restaurant, bar, terrace).<br />

Not to be outdone, Disney ® Village is<br />

now equipped with free Wi-Fi coverage<br />

that is available in many parts of the<br />

complex. Furthermore, in <strong>2014</strong>, Disney<br />

Village diversified its shopping offer<br />

with the opening of Europe’s largest<br />

Lego ® Store (500m 2 ). This new store<br />

is a unique shopping experience that<br />

combines shopping with fun activities<br />

including workshops for families.<br />

During fiscal year <strong>2014</strong>, continued investments<br />

in the theme park experience were<br />

accompanied by an increase in the global<br />

guest satisfaction levels. That strategy<br />

was reflected by the opening of a new<br />

attraction, as well as the launch of an<br />

innovative spectacular and the renovation<br />

of significant assets.<br />

Over the past three years, the Group has<br />

invested approximately €400 million in<br />

resort development and renovation. The<br />

new attraction, Ratatouille : L’Aventure<br />

Totalement Toquée de Rémy, which opened<br />

in July, was the year’s most anticipated<br />

event. In less than three months, the<br />

attraction became resort families’ favorite,<br />

and welcomed over one million riders.<br />

Disneyland ® Paris is also committed to<br />

surprising guests by bringing something<br />

new to its seasonal celebrations. During<br />

the Halloween Festival, for example, the<br />

fall-themed Mickey’s Magical Party was<br />

staged three times a day. During the<br />

new Enchanted Christmas season, a<br />

special version of the Disney Dreams ® !<br />

spectacular was unveiled – complete<br />

with scenes from Disney’s animated<br />

movie Frozen. For the arrival of spring,<br />

Disneyland Park unveiled its Swing into<br />

Spring season – a music- and flowerfilled<br />

experience. Another key event in<br />

<strong>2014</strong> was the arrival of Spider-man in Walt<br />

Disney Studios ® Park for the release of the<br />

Marvel movie, The Amazing Spider-Man:<br />

Rise of Electro. Optimization of guests’<br />

time in the parks is among key criteria in<br />

the strategy to drive satisfaction. In <strong>2014</strong>,<br />

the Group installed new “single-rider” lines<br />

for the attractions Crush’s Coaster* and<br />

Ratatouille : L’Aventure Totalement Toquée<br />

de Rémy. This system, first introduced at<br />

Disneyland Paris in Toy Story Playland,<br />

enables solo riders to occupy seats that<br />

would otherwise be left empty. Thanks to<br />

these lines, the Group expects to see a<br />

significant increase in the hourly capacity<br />

of these hugely-popular attractions. As<br />

part of the experience-enhancing strategy,<br />

the investments made in <strong>2014</strong> strongly<br />

contributed to the improvement of guest<br />

satisfaction levels. Satisfaction rose by<br />

three points during the fiscal year.<br />

3 STARS<br />

FOR THE MICHELIN<br />

GREEN GUIDE<br />

In July <strong>2014</strong>, the prestigious Michelin<br />

Green Guide ranked the entire Disneyland<br />

Paris resort as a three-star tourist<br />

attraction. This is the highest accolade<br />

attributed by the strict Michelin Green<br />

Guide editorial team. It corresponds<br />

to “Highly recommended” and is<br />

the fruit of anonymous, regular visits.<br />

The evaluations take into consideration<br />

nine different criteria. These include<br />

the atmosphere, enjoyment and quality<br />

of hospitality during visits. The award<br />

recognizes efforts made by the Group<br />

and its team to deliver a high-quality<br />

guest experience.<br />

* Inspired by Finding Nemo, the Disney•Pixar animated movie.<br />

Scan for more<br />

information<br />

+3<br />

points in guest satisfaction<br />

in fi scal year <strong>2014</strong><br />

30 31


<strong>2014</strong> ANNUAL REVIEW<br />

REAL-ESTATE DEVELOPMENT:<br />

HARMONY AND QUALITY OF LIFE<br />

TWELFTH NEW STRATEGIC ALLIANCE<br />

Through its real-estate development activities,<br />

since its opening, the Euro Disney<br />

S.C.A. group has played a key role in<br />

developing the Val d’Europe urban center<br />

and business district. The Group aims to<br />

maintain the harmonious balance between<br />

STRENGTHENING<br />

DIGITAL DISTRIBUTION<br />

Disneyland ® Paris leverages a powerful<br />

sales infrastructure. In order to best<br />

serve guests, the Group uses web sites,<br />

telephone booking centers, travel agencies,<br />

tour operators and more. Fiscal year<br />

<strong>2014</strong> again saw an increase in online<br />

activities, with Internet now being guests’<br />

preferred reservation method (35% of all<br />

package sales). To support that trend,<br />

Disneyland Paris has updated its guestfacing<br />

sales web site. Already live in the<br />

United Kingdom and France, the platform<br />

will soon be launched in other European<br />

countries and adapted to corresponding<br />

local languages. This will assist guests<br />

wishing to book online or prepare a resort<br />

visit. It is simple, clear, fast and compatible<br />

with smartphones and tablets. The<br />

developing the region’s economic activity<br />

and ensuring a high quality of life for those<br />

in the town. So far, this dynamic has shown<br />

very positive results. Val d’Europe is now<br />

home to approximately 30,000 residents for<br />

27,000 jobs and close to 4,000 businesses<br />

roll-out of call-back and live chat systems<br />

are further examples of support offered<br />

through the online channels. Both of these<br />

developments enable guests to speak<br />

directly with a Disneyland Paris Reservation<br />

Host while they are online, thereby<br />

quickly gaining assistance and answers to<br />

any questions they may have.<br />

Staffed by multi-lingual experts who<br />

know the resort inside out, the Central<br />

Reservations Office is still greatly appreciated<br />

by guests. Indirect sales through<br />

commercial partners is also a valuable<br />

sales channel, representing a large part of<br />

package sales across all Disneyland Paris<br />

markets. These partners play a key role<br />

in increasing the reach of initiatives taken<br />

to promote the destination.<br />

and establishments. During fiscal year<br />

<strong>2014</strong>, the ceremonial first stone was laid<br />

for a new family-style hotel that will become<br />

the largest property in the B&B Hôtel group<br />

portfolio. Located in Magny-le-Hongre in<br />

the Val de France area, the establishment<br />

is scheduled to open in late 2015.<br />

This past year also saw construction begin<br />

on several office buildings in the center<br />

of Val d’Europe: the Vega, Plazza, Bellini<br />

and Greenwich buildings. These programs<br />

include modular offices and ground-floor<br />

stores. Developments such as these reflect<br />

the Group’s intention to further develop the<br />

already dynamic business district. In addition,<br />

the residence which houses seasonal<br />

Cast Members, La Boiserie, was entirely<br />

renovated in <strong>2014</strong> in order to improve<br />

comfort and quality of life for those living<br />

in the 553 units.<br />

330<br />

experts<br />

in the Central Reservations Offi ce<br />

In February <strong>2014</strong>, Fujifilm and Disneyland ®<br />

Paris kicked off their new strategic alliance.<br />

It is through these partnerships that the<br />

Euro Disney S.C.A. group leverages<br />

shared values of excellence and service,<br />

with strong brands that are considered as<br />

experts in their fields. These partnerships<br />

are win-win propositions for both parties.<br />

They allow Disneyland Paris to benefit<br />

from its partners’ expertise throughout<br />

the resort. In turn, partners leverage<br />

the strong brand image of family values<br />

associated with Disneyland Paris. They can<br />

also capitalize on resort services (hotels,<br />

conference centers, parks, golf course,<br />

etc.) to host special events, some of which<br />

are extremely popular with the general<br />

public. This was particularly the case for<br />

the Halloween Celebration Party organized<br />

onsite in partnership with Nestlé Waters.<br />

Resource sharing is an excellent opportunity<br />

to strengthen the resort guest experience.<br />

One example of this is the Coca-Cola truck<br />

that sells refreshments on Main Street,<br />

U.S.A. ® (Disneyland ® Park). That truck is<br />

now a hugely-popular photo location for<br />

guests.<br />

Certain partnerships also extend to the<br />

world of sports, thanks to shared values<br />

that reflect the Disney spirit. For the third<br />

consecutive year, Disneyland Paris joined<br />

forces with France’s national basketball<br />

league to stage the Disneyland Paris<br />

Leaders Cup LNB. From February 14 to<br />

16, around 12,000 visitors came to indulge<br />

their passion for sport by celebrating three<br />

days of championship-level basketball,<br />

while enjoying the resort. During fiscal year<br />

<strong>2014</strong>, Disneyland Paris also announced the<br />

organization of the 2018 Junior Ryder Cup,<br />

to be held on the resort’s golf course.<br />

FUJIFILM AND<br />

DISNEYLAND PARIS<br />

REINVENT THE PHOTO<br />

EXPERIENCE<br />

Launched in June <strong>2014</strong>, the partnership<br />

with Fujifilm – world leader in its field<br />

– is already a particularly innovative<br />

one. Using the Disney Photo Pass<br />

app, guests can now collect and keep<br />

their snapshots taken onsite by resort<br />

photographers. Thanks to the system<br />

specially developed by Disneyland Paris,<br />

guests can download their photos in real<br />

time, share them on social networks,<br />

and buy personalized photo products<br />

including photo albums, mugs<br />

and calendars.<br />

On September 30, <strong>2014</strong>, the Group<br />

had strategic alliances in place with<br />

the following companies:<br />

32 33


INNOVATION<br />

IN SERVICE<br />

EXCELLENCE<br />

An exceptional destination,<br />

Disneyland ® Paris has welcomed<br />

millions of guests for over 20 years<br />

and has been the catalyst for<br />

countless unforgettable experiences.<br />

The Group’s success lies in its in-depth<br />

knowledge of guests of all ages,<br />

as well as its ability to innovate.<br />

This tradition can be found in<br />

all of the Group’s activities – from its<br />

theme park activity to its approach<br />

to sustainable development.<br />

36<br />

37<br />

38<br />

39<br />

LEVERAGING GUEST FEEDBACK<br />

TO DRIVE SALES<br />

INNOVATION AT THE HEART<br />

OF THE GUEST EXPERIENCE<br />

RATATOUILLE : L’AVENTURE TOTALEMENT<br />

TOQUÉE DE RÉMY, LEADING THE FIELD<br />

THROUGH CREATIVITY<br />

VILLAGES NATURE,<br />

A NEW ECO-TOURISM RESORT


<strong>2014</strong> ANNUAL REVIEW<br />

LEVERAGING GUEST FEEDBACK<br />

TO DRIVE SALES<br />

INNOVATION AT THE HEART<br />

OF THE GUEST EXPERIENCE<br />

Disneyland Paris goes to great lengths to understand its guests and their expectations.<br />

Responding to their wishes and expectations is crucial to their satisfaction, and therefore the Group’s<br />

growth strategy. It enables the Group to fine-tune its communication and deliver solutions that are<br />

tailor-made for high-quality experiences.<br />

Creativity and innovation are firmly rooted at the heart of Disneyland ® Paris, and they are pillars in the Group’s<br />

strategy. These values can be seen throughout the Group – from the resort experiences to its approach to<br />

sustainable development and the way the teams work with local businesses.<br />

LISTEN AND UNDERSTAND<br />

The Euro Disney S.C.A. group has a team<br />

of statisticians, research managers and<br />

others who conduct studies throughout<br />

the resort. Their mission is to measure<br />

and analyze target audience expectations,<br />

post-stay satisfaction and the impact of<br />

communication campaigns in each country.<br />

Each year, over 300,000 people are<br />

surveyed through such studies that include<br />

on-site questionnaires and online surveys.<br />

Disneyland ® Paris uses the results of these<br />

studies in a number of ways. These include<br />

measures to enhance the quality of shows,<br />

merchandise and dining opportunities, as<br />

well as steps to strengthen the impact of<br />

market-specific sales offers. For example,<br />

Ratatouille : L’Aventure Totalement Toquée<br />

de Rémy was developed when studies<br />

showed guests were keen to see The Walt<br />

Disney Studio ® Park experience enriched<br />

through a new family-focused attraction.<br />

Since its launch, the attraction has been<br />

very much in the spotlight, with over 13,000<br />

guests surveyed in two months. The<br />

results, which are extremely satisfactory,<br />

confirm its success.<br />

FULFILL THE EXPECTATIONS<br />

OF ALL TARGET AUDIENCES<br />

Disneyland Paris attracts a mix of audiences<br />

including families with children of all ages,<br />

adults with no children, young adults and<br />

more. Expectations differ depending on<br />

the target audience and the country of<br />

origin. These include length of stay, eating<br />

habits, emotional bonds with the Disney<br />

brand and the ideal age for children to visit.<br />

Common to all guests however is the fact<br />

that they are sure to enjoy an unforgettable<br />

experience. To maintain this strong<br />

perception of quality, the Group constantly<br />

adapts communication and sales offerings.<br />

In February <strong>2014</strong>, a new campaign was<br />

launched, reaching out to the resort’s target<br />

audience of families. This was followed in<br />

June by a fun yet quirky campaign reaching<br />

out to young adults. Another key target<br />

audience is the first generation of parents<br />

who return to Disneyland Paris with children<br />

of their own – sharing emotions they experienced<br />

on their first visit to the resort as<br />

children. Disneyland Paris has also<br />

adapted its offer to each country through<br />

custom-made sales initiatives including<br />

special offers and services.<br />

© Disney•Pixar<br />

THE DISNEY TRADITION<br />

OF INNOVATION COMBINED<br />

WITH CREATIVITY<br />

Disneyland Paris has a number of strengths<br />

– from taking guests on storytelling adventures<br />

and bringing characters to life,<br />

to creating 3D movie worlds for guests<br />

on board trackless, radio-controlled<br />

rat-mobiles that run on electricity and<br />

charge each time they come into the<br />

station and collect guests.<br />

INNOVATION AT THE HEART<br />

OF EVERYTHING<br />

May <strong>2014</strong>. Accessible on smartphones<br />

and tablets, the portal enables Cast<br />

Members to access the latest resort news<br />

as well as information on advantages<br />

and audience-specific data. Innovation<br />

can also be seen in a range of energyefficient<br />

sustainable development tools<br />

being deployed. These include low-energy<br />

light bulbs, presence detectors, intelligent<br />

thermostats for the hotels, and more. The<br />

new Ratatouille attraction is particularly<br />

significant in this area as it includes LED<br />

lighting, solar panels and equipment to<br />

recycle the heat from the video projectors<br />

used in the attraction. The Group is also<br />

actively encouraging innovation in the local<br />

area by collaborating with partners. For the<br />

Ratatouille-themed attraction, for example,<br />

the Group worked with a company that<br />

specializes in the use of ultrasound to<br />

clean. That business, Fisa, developed<br />

exclusive bespoke equipment to clean the<br />

attraction’s 3D glasses.<br />

* Inspired by Finding Nemo, the Disney•Pixar animated movie.<br />

to explore. To achieve this, the Group can<br />

count on the Walt Disney Imagineering<br />

Disneyland Paris is increasingly using the<br />

GUESTS FROM CHINA, RUSSIA<br />

AND THE MIDDLE EAST HAVE HIGH<br />

STANDARDS. THAT HAS PUSHED<br />

US TO ENHANCE OUR OFFER.<br />

FOR EXAMPLE, TO OUR RUSSIAN<br />

GUESTS, WE PROPOSE PREMIUM<br />

PACKAGES INCLUDING BILINGUAL<br />

VIP GUIDES, HANDS-FREE<br />

SHOPPING SOLUTIONS<br />

AND MANY OTHER SERVICES.<br />

team of around 1,500 creative experts.<br />

These storytelling specialists, representing<br />

140 different job classifications, use the<br />

very latest technology to offer guests<br />

an exceptional experience. Their unique<br />

expertise has led to never-beforeseen<br />

adventures such as Ratatouille :<br />

L’Aventure Totalement Toquée de Rémy.<br />

Inaugurated in <strong>2014</strong>, the attraction<br />

very latest digital technology to improve<br />

the guest experience. At the California Grill<br />

fine-dining restaurant in the Disneyland ®<br />

Hotel, for example, menus are now<br />

presented on tablets that include photos<br />

of the dishes and information on the chef.<br />

At the Crush’s Coaster* attraction, guests<br />

can now enjoy waiting in line by connecting<br />

digital devices to a Wi-Fi network and<br />

harnesses a unique combination of<br />

download a free game (only available<br />

Brigitte Elmkies-Sitbon<br />

Director of International Marketing & Sales,<br />

New markets<br />

innovation that combines sensory effects<br />

(smells, heat and water) and 3D imaging.<br />

It takes guests into a unique world<br />

there). Cast Members are also reaping the<br />

benefits of technological innovation thanks<br />

to a new bilingual web portal launched in<br />

© Disney•Pixar<br />

36 37


VILLAGES NATURE,<br />

A NEW ECO-TOURISM RESORT<br />

Bulle Cottages<br />

The Euro Disney S.C.A. group and Pierre & Vacances – Center Parcs<br />

are inventing tomorrow’s tourism with Villages Nature.<br />

Rooted in the quest for harmony between Man and Nature,<br />

Villages Nature is a major innovation in sustainable family tourism.<br />

Construction on the new resort began in May <strong>2014</strong>.<br />

© Disney•Pixar<br />

A UNIQUE VACATION OFFER<br />

Located 32 kilometers east of Paris,<br />

MAY <strong>2014</strong>:<br />

CONSTRUCTION WORK BEGINS<br />

Farm<br />

RATATOUILLE : L’AVENTURE TOTALEMENT TOQUÉE<br />

DE RÉMY, LEADING THE FIELD THROUGH CREATIVITY<br />

Disneyland ® Paris has always invested in delivering new, innovative experiences for guests.<br />

<strong>2014</strong>’s launch of a brand-new Ratatouille development is particularly representative of the Group’s<br />

investment strategy designed to increase guest satisfaction.<br />

THE MOST INNOVATIVE<br />

TECHNOLOGY AVAILABLE<br />

After five years in the making, the<br />

brand-new Ratatouille development was<br />

launched in July <strong>2014</strong>. This Parisian<br />

immense screens, custom-made animated<br />

sequences from the team at Disney•Pixar,<br />

and a wealth of sensory effects.<br />

UNIQUE EXPERTISE<br />

of the Year prize by Gastronomades in<br />

November <strong>2014</strong>. The tributes to Paris also<br />

continued in late <strong>2014</strong>, with the opening<br />

of a new art-nouveau inspired boutique,<br />

Chez Marianne (Souvenirs de Paris).<br />

Villages Nature will be a new tourist<br />

destination on a European scale,<br />

combining nature, leisure, and relaxation.<br />

The resort, designed for short- and<br />

mid-length stays, will invite visitors to<br />

take a relaxing break in the heart of<br />

nature – with 90 % of the land to remain<br />

as greenery. Set in Brie woods, Villages<br />

Nature will be an opportunity to discover<br />

the treasures of the Ile-de-France<br />

region, including Disneyland ® Paris and<br />

the nation's capital.<br />

INNOVATION IN EUROPE<br />

The concept is unique in a number of<br />

ways, including the manner in which it<br />

Construction on Phase 1A began in May<br />

<strong>2014</strong>. Important milestones have already<br />

been reached, including the preliminary<br />

environmental renovation and protection<br />

work. The initial construction of the<br />

recreational lake is also close to completion.<br />

Construction has now begun on<br />

the accommodation and leisure facilities,<br />

while the geothermal work is expected<br />

to begin in 2015. Work on this phase is<br />

expected to last approximately two years,<br />

and it will be in full compliance with the<br />

charter for Chantier Vert [green building<br />

site], which limits environmental pollution<br />

generated through construction work.<br />

Suspended Gardens<br />

Lakeside Promenade<br />

fantasy whisks guests into a movie world<br />

brings sustainability to tourism and<br />

like never before. On board unique radiocontrolled<br />

rat-mobiles, reduced to the<br />

size of a rat, guests are whisked off on<br />

a trackless ride through the renowned<br />

Chef Gusteau’s kitchens and dining room.<br />

The attraction combines two ingredients<br />

that are key to every Disney success:<br />

the very best of innovation and creativity.<br />

Imagineers from The Walt Disney<br />

Company research and development division<br />

(Walt Disney Imagineering) blended<br />

magic and illusion to create this exclusive<br />

adventure. Their secret is a unique<br />

combination of state-of-the art technology<br />

and special effects: extremely highdefinition<br />

3D images (4K) projected onto<br />

To authentically recreate the Ratatouille<br />

atmosphere, 4,000 craftspeople with<br />

unique savoir-faire (tailors, upholsterers,<br />

chefs, etc.) from home and abroad, worked<br />

together to bring the project to life. Every<br />

single detail was designed to transport<br />

guests into the heart of the capital city<br />

so familiar to Rémy, the rodent star. In<br />

tribute to France, the Parisian atmosphere<br />

is everywhere: from the street fountain<br />

to the façade architecture and even the<br />

restaurant, Bistrot Chez Rémy. This signature<br />

restaurant offers traditional French<br />

dishes and local delicacies including<br />

Brie de Meaux cheese. The restaurant<br />

was awarded the Gastronomic Event<br />

RATATOUILLE : L’AVENTURE<br />

TOTALEMENT TOQUÉE DE RÉMY<br />

IS ALREADY A SUCCESS.<br />

IN JUST THREE MONTHS,<br />

THE ATTRACTION WELCOMED<br />

1 MILLION RIDERS AND BECAME<br />

OUR TOP FAMILY ATTRACTION,<br />

WITH A PARTICULARLY HIGH<br />

SATISFACTION RATE.<br />

Daniel Delcourt<br />

Senior Vice President and Chief Operating Officer<br />

Scan for more<br />

information<br />

real-estate development. It combines<br />

transport accessibility, urban proximity,<br />

and local energy. Since the project’s<br />

early days in 2003, the Villages Nature<br />

project has taken a global, avant-gardist<br />

approach to sustainable development.<br />

The objective is to limit the site’s environmental<br />

footprint as much as possible,<br />

while striking the right socio-economic<br />

balance and highlighting the local heritage<br />

and culture. A local geothermal energy<br />

source should provide the resort with all<br />

of its heating requirements, while electrical<br />

needs should be taken care of by complementary<br />

sources of renewable energy.<br />

VILLAGES NATURE IS A RESORT<br />

DEVOTED TO RELAXING,<br />

ENERGIZING AND CELEBRATING<br />

LIFE IN ALL ITS FORMS.<br />

IT WILL DELIGHT EUROPEANS<br />

LOOKING FOR NEW VACATION<br />

EXPERIENCES.<br />

Dominique Cocquet<br />

Managing Director, Villages Nature<br />

Scan for more<br />

information<br />

916<br />

cottages and apartments<br />

in Villages Nature Phase 1A<br />

259<br />

hectares<br />

in Marne-la-Vallée (Seine-et-Marne)<br />

on completion<br />

38 39


CORPORATE CITIZENSHIP<br />

The Euro Disney S.C.A. group places<br />

respect and consideration of its Cast<br />

Members at the heart of its priorities<br />

because they are behind every<br />

magical moment created at the resort.<br />

The Group’s outreach activity goes<br />

far beyond its immediate neighbors.<br />

The group's values and integration<br />

within the community have resulted in<br />

responsibilities in many different areas.<br />

42 PROMOTING<br />

INTEGRATION THROUGHOUT<br />

44<br />

45<br />

46<br />

CONTRIBUTING TO THE REGION’S<br />

ECONOMIC AND SOCIAL DEVELOPMENT<br />

SHARING WITH<br />

THOSE MOST IN NEED<br />

COMMITED TO SUSTAINABLE<br />

DEVELOPMENT


<strong>2014</strong> ANNUAL REVIEW<br />

RENEWED COMMITMENT<br />

TO THE DISABLED<br />

Since 1993, the Group has proactively<br />

taken measures in favor of workers with<br />

disabilities. These have included setting<br />

concrete objectives in terms of recruitment,<br />

training and support. At the start<br />

of the fiscal year, the Group joined the<br />

trade unions in signing a five-year agreement<br />

(its eighth) in favor of employment<br />

for people with disabilities. Within the<br />

framework of this agreement, the Group<br />

committed to recruiting 120 disabled<br />

team members by the end of 2018.<br />

PROMOTING<br />

INTEGRATION THROUGHOUT<br />

With around 15,000 Cast Members* representing over 100 nationalities, 500 job classifications and<br />

20 languages, the Euro Disney S.C.A. group is an employer unlike any other. Because its Cast Members’<br />

talent and diversity are key to delivering a unique guest experience, the Group puts respect, proximity<br />

and consideration at the top of its priorities.<br />

It also committed to encouraging a<br />

positive balance between professional<br />

and personal lives through, for example,<br />

the possibility to go part-time (80%)<br />

or take additional days of absence.<br />

For disabled Cast Members over<br />

50-years old with at least 15 years of<br />

seniority, the Group also fully covers<br />

employee and company contributions<br />

to pension programs. On September<br />

30, <strong>2014</strong>, the Group employed 677<br />

disabled Cast Members – 5% of the<br />

total headcount.<br />

THIS EIGHTH DISABILITY<br />

AGREEMENT IS A REFLECTION<br />

OF THE GROUP’S INTENTION TO<br />

ENCOURAGE THE INTEGRATION<br />

OF ALL TALENTS – WITHOUT<br />

DISTINCTION.<br />

THE PROMOTION OF INTEGRATION<br />

IS ESSENTIAL, AND IN LIGHT<br />

OF THIS, EURO DISNEY S.C.A. IS<br />

TAKING ON THE RESPONSIBILITY<br />

TO CREATE A CHANGE IN MINDSET<br />

AND BEHAVIOR.<br />

Daniel Dreux<br />

Vice President, Human Resources<br />

Scan for more<br />

information<br />

677<br />

team members<br />

were registered disabled<br />

on September 30, <strong>2014</strong>.<br />

120 more to be recruited by 2018.<br />

DIVERSITY AT THE HEART OF GROUP VALUES<br />

Diversity and integration are integral parts<br />

women in management positions has dou-<br />

OUR TALENTS AT THE SERVICE OF INTEGRATION<br />

of Disney culture. These founding values<br />

bled. The signature in November 2013 of<br />

are reflected throughout the Group and<br />

have never been more important. At<br />

the start of fiscal year <strong>2014</strong>, the Group<br />

joined the trade unions in signing a fourth<br />

agreement concerning professional and<br />

salary equality. At the end of the fiscal<br />

year (September 30, <strong>2014</strong>), women<br />

represented 46% of the workforce and<br />

47% of all employees promoted during the<br />

calendar year. Since 2006, the proportion of<br />

46 %<br />

of Group positions<br />

help by women (end of fi scal year <strong>2014</strong>)<br />

the first inter-generation agreement reflects<br />

how important integration is for the Group.<br />

Valid for a three-year period, the agreement<br />

addresses three key issues: employment<br />

access for young people; keeping the<br />

“over 50s” in the workforce (“seniors”); and<br />

transferring skills. In the agreement, the Euro<br />

Disney S.C.A. group committed to recruiting<br />

600 young people under 26-years old, as<br />

well as 75 employees aged 50-years old or<br />

more, by September 30, 2016. In parallel,<br />

the Group will continue its activities aimed at<br />

developing opportunities to integrate Cast<br />

Members on programs that combine time<br />

spent in education and the workplace. By<br />

December 31, 2015, the Group aims to<br />

have 5% of its average headcount on these<br />

programs.<br />

As the largest single-site employer in<br />

France, and the Île-de-France region’s<br />

biggest private employer, the Euro<br />

Disney S.C.A. group plays an essential<br />

role in developing employment in the area.<br />

The Group is active in several programs<br />

designed to help the long-term unemployed<br />

to integrate the working world. These<br />

include the Passerelles pour l’Emploi<br />

program (in partnership with the Conseil<br />

#<br />

1<br />

private employer<br />

in Île-de-France<br />

Général de Seine-et-Marne and the<br />

Région Île-de-France). This year saw<br />

opportunities in this program extended<br />

to those working in the clothing and<br />

logistics fields. In addition, since 2009,<br />

the group has partnered with the NQT<br />

association (formerly Nos Quartiers ont<br />

des Talents), to enable young graduates<br />

from disadvantaged backgrounds to be<br />

accompanied by group executives. Those<br />

leaders mentor participants to help them<br />

integrate the business world. In <strong>2014</strong>,<br />

the Euro Disney S.C.A. group continued<br />

its NQT partnership for three years and<br />

welcomed the<br />

fifth <strong>annual</strong> intake<br />

of program participants.<br />

* Source: Group's 2013 Bilan Social employment report published in <strong>2014</strong>.<br />

42 43


<strong>2014</strong> ANNUAL REVIEW<br />

CONTRIBUTING TO THE REGION’S<br />

ECONOMIC AND SOCIAL DEVELOPMENT<br />

SHARING<br />

WITH THOSE MOST IN NEED<br />

Since its creation, the Euro Disney S.C.A. group has participated in the economic and social development<br />

of the region. This commitment, built on a historic partnership with the French state, has increased steadily<br />

over the years. The launch of the Ratatouille-themed attraction in <strong>2014</strong> illustrates how Disneyland ® Paris<br />

has rooted itself in the economic landscapes of the regional and the nation.<br />

The values of sharing, generosity and corporate citizenship are at the core of the Group’s values.<br />

Since opening, Disneyland ® Paris has been attentive to its neighbors – in particular children and<br />

their families. During fiscal year <strong>2014</strong>, the Group followed through on its commitment by organizing<br />

around 1,000 outreach events.<br />

A DRIVING FORCE<br />

FOR EMPLOYMENT<br />

AND LOCAL DEVELOPMENT<br />

PIXAR PARIS: A NEW ASSET<br />

FOR THE ECONOMY<br />

Ratatouille : L’Aventure Totalement<br />

With around 15,000* Cast Members,<br />

Toquée de Rémy pays tribute to the<br />

the Euro Disney S.C.A. group is the<br />

resort’s homeland and its architecture,<br />

largest single-site employer in France.<br />

culture and gastronomy. In honoring<br />

The Group is also the leading private<br />

French savoir-faire and culture, the<br />

employer in the Seine-et-Marne area and<br />

project provided work for 44 French<br />

a key player on a national level. Since<br />

companies (34 from the Île-de-France<br />

its creation, the Group has generated<br />

region), while creating 200 new positions<br />

55,000 direct, indirect and induced jobs.<br />

related to Walt Disney Studios ® Park.<br />

In <strong>2014</strong>, Euro Disney S.C.A. signed<br />

825* permanent employment contracts.<br />

Disneyland Paris has also contributed<br />

to the rapid expansion of Val d’Europe’s<br />

population, which has grown from 5,000<br />

at the end of the 1980s to 30,000 today.<br />

In that time, employment has increased<br />

from a few hundred jobs to 27,000.<br />

€50<br />

billion in added value<br />

for the French economy<br />

A KEY ECONOMIC PILLAR<br />

FOR THE COUNTRY<br />

The socio-economic impact of Disneyland<br />

Paris reaches far beyond its surrounding<br />

area. The Group has become a driving force<br />

in French tourism, with close to 300 million<br />

visits since 1992. As 30% of all foreign<br />

visitors to Disneyland Paris also visit the<br />

capital, the Group’s efforts to strengthen<br />

the resort’s appeal also strengthen that of<br />

France and its capital city. Disneyland Paris<br />

therefore offers specific packages for guests<br />

wishing to spend several days on site and<br />

enjoy a trip to Paris or key tourist attractions<br />

in the area. These include, for example,<br />

During her visit as part of the attraction's<br />

inauguration in July <strong>2014</strong>, Fleur Pellerin<br />

(France's Secretary of State for Foreign<br />

Trade, Tourism & French Nationals Living<br />

Abroad) underlined the importance of the<br />

new investment that Disneyland Paris<br />

was making in the country.<br />

* Source: Group’s 2013 Bilan Social employment report published<br />

in <strong>2014</strong>.<br />

** Source: Disneyland Paris Economic and Social Impact Study<br />

(1992 - 2012) by the Inter-ministerial Delegation<br />

for the Euro Disney Project.<br />

Scan for more<br />

information<br />

A YEAR RICH IN ASSISTANCE FOR OTHERS<br />

Disney VoluntEARS donate their time, agency through a series of fundraising<br />

talents and enthusiasm to others. During activities: the exhibition and auction of<br />

the fiscal year, 1,123 Cast Members attraction-inspired dolls at the Cité de la<br />

volunteered for around 1,000 outreach Mode et du Design in Paris; the launch<br />

events supported by the Group. For of a collaborative online platform; and<br />

hosted environmental workshops in three<br />

local schools in Chessy, where children<br />

learned about environmental protection.<br />

This commitment is yet another illustration<br />

of the Group’s integration within the local<br />

the castles at Versailles, Fontainebleau<br />

example, in August <strong>2014</strong>, 300 Disney<br />

even a children’s rights conference (the<br />

community.<br />

1<br />

job in Disneyland Paris<br />

generates around<br />

3<br />

jobs elsewhere in France**<br />

and Vaux-le Vicomte. The onsite station<br />

for high-speed TGV trains facilitates site<br />

access for European visitors, while offering<br />

advantages for the entire French tourism<br />

industry. The Chessy – Marne-la-Vallée<br />

station now welcomes trains from around<br />

60 different stations in a host of countries<br />

including Belgium, Germany, Luxemburg,<br />

The Netherlands, Switzerland and the<br />

VoluntEARS helped welcome 5,500<br />

children from the Secours populaire<br />

françias organization. The youngsters<br />

were invited to discover the resort during<br />

14 different Solidarity Day events. <strong>2014</strong><br />

was also marked by the celebration of<br />

the worldwide 50 th anniversary of the “It’s<br />

a small world” attractions in partnership<br />

with UNICEF. That celebration helped<br />

right to play being a fundamental right<br />

for children).<br />

During <strong>2014</strong> the Disney VoluntEARS<br />

were involved in other off-site activities.<br />

These included the Tout le Monde Chante<br />

contre la Cancer concert in Villefranche de<br />

Rouergue, the 25 th anniversary of Opération<br />

Pièces Jaunes fund-raisers and drives for<br />

15,274<br />

hours of voluntary<br />

outreach work donated<br />

by Disney VoluntEARS in <strong>2014</strong><br />

United Kingdom.<br />

collect donations for the United Nations<br />

the Restos du Cœur food banks. They also<br />

44 45


COMMITTED<br />

TO SUSTAINABLE<br />

DEVELOPMENT<br />

During fiscal year <strong>2014</strong>, Euro Disney S.C.A. maintained its efforts<br />

to limit its environmental footprint while establishing new environmental<br />

goals to be reached by 2020. The Group’s approach is based<br />

on increasing the efficiency of its resources and its awareness-building<br />

actions targeting both employees and guests.<br />

NEW ENVIRONMENT GOALS<br />

As part of its ongoing efforts, Disneyland ®<br />

Paris has developed its environmentalprotection<br />

approach around four key<br />

pillars: water, energy, waste and biodiversity.<br />

<strong>2014</strong> marked the launch of a<br />

new program with a series of objectives<br />

that should be accomplished by 2020.<br />

In terms of waste management, the Euro<br />

Disney S.C.A. group aims for a recyclereuse-compost<br />

rate of 60% for operational<br />

waste and 75% for construction waste.<br />

In <strong>2014</strong> the resort reduced the quantity of<br />

incinerated waste by 8% over the previous<br />

fiscal year. This can be explained by the<br />

increase in waste treated in other ways.<br />

Since 2006, the Group has committed<br />

to acquiring 15% of its electricity from<br />

renewable sources. It has also implemented<br />

a series of measures to optimize<br />

electricity use (low-energy bulbs, intelligent<br />

thermostats, movement detectors, etc.).<br />

The new Ratatouille-inspired attraction and<br />

its restaurant, for example, are equipped<br />

with energy-efficient LED lighting. Solar<br />

panels have also been installed to heat the<br />

water used in the kitchens and elsewhere.<br />

BUILDING AWARENESS<br />

TO CHANGE BEHAVIOR<br />

Environmental protection is also a<br />

question of behavior. For this reason, the<br />

Group undertakes activities to raise the<br />

awareness and involvement of its Cast<br />

Members and guests. The objective is to<br />

convince them to adopt eco-responsible<br />

behavior when on site. During fiscal year<br />

<strong>2014</strong>, as in previous years, the Group has<br />

rewarded its employees’ waste management<br />

and energy-saving efforts during the<br />

Cérémonie des Trophées Environnement.<br />

Awareness-raising events also took<br />

place during Earth Month. The Group<br />

also maintained its efforts to encourage<br />

Cast Members to carpool and use public<br />

transportation (refunding 80% of transport<br />

costs instead of the 50% required<br />

by legislation). The Group also continues<br />

to strengthen its fleet of electric-powered<br />

vehicles.<br />

Scan for more<br />

information<br />

Euro Disney S.C.A. société en commandite par actions, with a registered capital of 38,976,490 euros - 334 173 887 RCS MEAUX<br />

Registered offi ce: 1, rue de la Galmy, 77700 Chessy - France<br />

Photos: © Disney·Pixar - Page 17 : © T. Huau/Interscène, Jean de Gastines Architectes ; Kreaction -<br />

Page 39 : © Jean de Gastines Architectes ; T. Huau/Interscène ; Kreaction - © Lionel de Segonzac Atelier d’architectures et d’urbanisme ;<br />

T.Huau/Interscène ; Kreaction - © T. Huau/Interscène ; Kreaction - © T. Huau/Interscène ; Jean de Gastines Architectes.<br />

Conception and creation: SEITOSEI<br />

46


http://corporate.disneylandparis.com

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