MAGICAL CRUISE COMPANY, LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors have undertaken an assessment by reviewing a cash flow forecast extending to a period no less than 12 months from the date of the financial statements, including consideration of downsides, noting that the Company was in a net current liability position as of 28 September 2024. Whilst they expect to be able to meet the day to day cashflow needs of the Company, they have received assurances of continued financial support from a fellow Group undertaking, in the form of a letter of support, to allow the Company to meet its liabilities as they fall due without significant curtailment of operations for a period of at least 12 months from the date of these financial statements being signed. On the basis of their assessment of the Company's financial position, its resources and support from fellow group company, the Directors believe that the Company is well placed to manage its business risks. Therefore, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.”

Group structure

1. MAGICAL CRUISE COMPANY, LIMITED · parent
   1. The Walt Disney Company Africa (Proprietary) Limited 100% · South Africa
   2. DCL Island Development, Ltd. 100% · The Bahamas

Significant events

• “Disney Cruise Line will be adding two new ships, the Disney Adventure and the Disney Destiny, which are scheduled to begin sailing in the first quarter of fiscal year 2026. In August 2024, the Group announced plans to add four more new cruise ships, all of which are under contract and scheduled to be delivered between 2027 and 2031.”
• “On 18 September 2024, the Company (as lender) and DCL Island Development, Ltd. ("DCLID" a subsidiary), an entity within the Disney Group, (as borrower) entered into a $650,000,000 revolving credit facility agreement with effect from 2 October 2023 maturing 27 December 2024. This revolving credit facility is further supported by a loan guarantee in favour of the Company by Disney Enterprises, Inc., an indirect parent entity of the borrower within the Disney Group. Following the reporting period end, prior to the maturity date, the loan was extended to June 2025. As at the date the financial statements were approved, the principal outstanding due to the Company is $644,243,000.”
• “Following the period end, Disney Cruise Line took delivery of its sixth ship, the Disney Treasure. The Treasure made her transatlantic voyage from the Meyer Werft shipyard in Germany to her homeport in Port Canaveral, Florida, USA, followed by its maiden voyage on 21 December 2024.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

10

last 12 months

Capital events

3

last 24 months

Officers appointed

3

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +15.6%

  £2,161,547,000 → £2,498,195,000

• Cash

  +30.3%

  £82,861,000 → £107,931,000

• Net assets

  +10.9%

  £2,994,421,000 → £3,322,031,000

• Employees

  +2.8%

  7,576 → 7,788

• Operating profit

  +58.3%

  £193,630,000 → £306,466,000

• Profit before tax

  +90.6%

  £188,258,000 → £358,815,000

• Wages

  +10.1%

  £290,587,000 → £320,042,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers