Hong Kong Disneyland Net Profit Drops 36% to HK$536 Million
Theme park cites higher costs, increased outbound travel and weather disruptions; reports second-highest profit in 20-year history
Quick Look
- Hong Kong Disneyland Resort reported a 36% decline in net profit to HK$536 million (US$68 million) for the financial year ending last September, with revenue down 1.35% to HK$8.69 billion and visitor numbers falling 2.5% to 7.5 million.
- Managing director Tim Sypko attributed the drop to higher wages, anniversary-related expenses, and depreciation from new attractions including a Pixar-themed water parade.
- Despite the decline, the resort achieved its second-highest profit in 20 years and became debt-free for the first time.
AI-generated summary
Hong Kong Disneyland Resort posted a 36 per cent drop in net profit to HK$536 million (US$68 million) last year, due to higher costs, increased outbound travel by Hongkongers and weather disruptions. The Lantau Island theme park on Tuesday reported its results for the financial year ending last September, with revenue down 1.35 per cent year on year to HK$8.69 billion and visitor numbers falling 2.5 per cent to 7.5 million, from a record 7.7 million in 2023-24. Tim Sypko, the park's managing director, said costs rose last year amid higher wages, anniversary-related expenses and depreciation charges tied to new attractions, including a Pixar-themed water parade that returned in June. He said last year's net profit was still the second highest in its 20-year history, adding that the resort used the profits to repay all debts and reinvested part of them in new attractions. "The results demonstrated a very healthy business here in Hong Kong Disneyland," Sypko said. "For the first time in our resort's history, we are completely debt-free." He said the business performed well in the first six months of the financial year ending March 31.
