The magic behind Disney's $900m cruise profits
1. Combined net profits of $884.9 million and is riding the crest of the wave.
2. “The Company is a wholly owned subsidiary of Wedco US Ventures, Inc and Wedco International Holdings Inc whose ultimate parent Company is The Walt Disney Company.”
3. “Turnover consists of amounts earned for the provision of cruise berths as well as amounts earned from the sale of merchandise, beverage, amenities and recreational activities provided during the cruises.”
4. In its first five years the company made a combined net loss of $102.6 million
5. In its first five years the company made a combined net loss as start-up costs swelled
6. After its first five years it has only made a loss three times which all fell between 2009 and 2011
7. The biggest net loss in its history came in 2010 when it finished the year $68.2 million in the red
8. In 2010 there was a 10.5% fall in revenue to $411.4 million
9. The Dream cost $760 million
10. In 2011 the company’s net loss narrowed to $52 million
11. The Disney Fantasy cost $810 million
12. Revenue rose 43.1% to $924.7 million in 2012
13. It only made a $0.4 million net profit in 2012
14. Its profit in 2012 was the lowest in its history
15. By 2013 it turned a $44.6 million net profit
16. Its revenue has more than doubled since it launched its third ship in 2011
17. Revenue rose 5.7% to a record $1.4 billion in the year to 30 September 2017
18. In 2017 its net profit reached an all-time high
19. In 2017 its net profit reached $297.3 million
20. Disney has received $775 million as a dividend
21. By 30 September 2017 it had received $469.4 million of deposits on future cruises compared to $404.6 million the previous year.
22. Magical Cruise Company finished 2017 with a healthy buffer of $510.1 million of cash in the bank which increased y 31.9% on the previous year.
23. Over the decade to the end of 2017 staff numbers doubled
24. Staff numbers were 5,775 in 2017
25. Staff pay trebled to $194.1 million in 2017
26. “The financings may be used for up to 80% of the contract price of the cruise ships. Under the agreements, $1.0 billion in financing is available beginning in April 2021, $1.1 billion is available beginning in May 2022 and $1.1 billion is available beginning in April 2023. If utilized, the interest rates will be fixed at 3.48%, 3.72% and 3.74%, respectively, and the loan and interest will be payable semi-annually over a 12-year period from the borrowing date.”
2. “The Company is a wholly owned subsidiary of Wedco US Ventures, Inc and Wedco International Holdings Inc whose ultimate parent Company is The Walt Disney Company.”
3. “Turnover consists of amounts earned for the provision of cruise berths as well as amounts earned from the sale of merchandise, beverage, amenities and recreational activities provided during the cruises.”
4. In its first five years the company made a combined net loss of $102.6 million
5. In its first five years the company made a combined net loss as start-up costs swelled
6. After its first five years it has only made a loss three times which all fell between 2009 and 2011
7. The biggest net loss in its history came in 2010 when it finished the year $68.2 million in the red
8. In 2010 there was a 10.5% fall in revenue to $411.4 million
9. The Dream cost $760 million
10. In 2011 the company’s net loss narrowed to $52 million
11. The Disney Fantasy cost $810 million
12. Revenue rose 43.1% to $924.7 million in 2012
13. It only made a $0.4 million net profit in 2012
14. Its profit in 2012 was the lowest in its history
15. By 2013 it turned a $44.6 million net profit
16. Its revenue has more than doubled since it launched its third ship in 2011
17. Revenue rose 5.7% to a record $1.4 billion in the year to 30 September 2017
18. In 2017 its net profit reached an all-time high
19. In 2017 its net profit reached $297.3 million
20. Disney has received $775 million as a dividend
21. By 30 September 2017 it had received $469.4 million of deposits on future cruises compared to $404.6 million the previous year.
22. Magical Cruise Company finished 2017 with a healthy buffer of $510.1 million of cash in the bank which increased y 31.9% on the previous year.
23. Over the decade to the end of 2017 staff numbers doubled
24. Staff numbers were 5,775 in 2017
25. Staff pay trebled to $194.1 million in 2017
26. “The financings may be used for up to 80% of the contract price of the cruise ships. Under the agreements, $1.0 billion in financing is available beginning in April 2021, $1.1 billion is available beginning in May 2022 and $1.1 billion is available beginning in April 2023. If utilized, the interest rates will be fixed at 3.48%, 3.72% and 3.74%, respectively, and the loan and interest will be payable semi-annually over a 12-year period from the borrowing date.”