OPPapers.com

Othello

Summary
Management General Report on the Group Euro Disney S.C.A. 1
Consolidated Financial Statements 11
Supervisory Board General Report on the Group Euro Disney S.C.A. 38
Statutory Auditors' General Report on the Consolidated Financial Statements 40
Management Special Report on Transition to International Financial
Accounting standards (IFRS) 42
Statutory Auditors' Special Report on Transition to International Financial
Accounting standards (IFRS) 56
5-year Financial Review of Euro Disney S.C.A. 58
Corporate organisation of the Group Euro Disney S.C.A. 59
Ownership Structure of the Group Euro Disney S.C.A. 61
5-year Financial Review of the Group Euro Disney S.C.A. 62
INTRODUCTION
On February 23, 2005, Euro Disney S.C.A. (the
"Company") completed an increase in shareholders'
equity through an offering of preferential subscription
rights, the final step in a comprehensive restructuring
(the "Restructuring") of the financial obligations of the
Company and its consolidated subsidiaries (the
"Group"). By completing the Restructuring, the Group
now has the opportunity to pursue a strategy designed to
attract new Theme Park visitors and hotel guests, and to
increase visitation by improving guest satisfaction and
value perception with an expanded multi-faceted
development plan.
Beginning last year with The Legend of the Lion King
Show, the Group launched a program to increase its
product offer at both the Disneyland and Walt Disney
Studios parks. For the second half of fiscal year 2005,
the Group opened Space Mountain: Mission 2, an exciting
new experience to celebrate the 10th anniversary of one
of Disneyland Park's most popular attractions.
For April 2006, the Group plans on opening in
Disneyland Park Buzz Lightyear Laser Blast, a ridethrough
interactive adventure featuring Buzz Lightyear
and characters inspired by the Walt Disney Pictures
presentation of the Pixar Animation Studios film, Toy
Story 2. Buzz enlists guests to help...