COMPAGNIE DES ALPES (EPA:CDA) - CDA - FY 2020 2021 Sales

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21/10/2021 17:46

Press Release

                             FY 2020/2021 SALES

CONFIRMATION OF A ROBUST RECOVERY IN LEISURE PARK ACTIVITY IN THE 4TH QUARTER

     ANNUAL SALES IMPACTED BY SITE CLOSURES RELATED TO THE HEALTH CRISIS

Paris, October 21, 2021 - Financial year 2020/2021, which ended on September
30, 2021, was marked by long periods of closure due to the health crisis, and
by a dynamic recovery in activity for Leisure Parks over the summer season.
Accordingly, the year can be divided into three distinct periods:

* The 1st half, during which all Leisure Park and Ski Area sites were unable to
  open except for a few days in October and were still closed at the end of the
  period;

* The 3rd quarter, during which sites were gradually reopened, in staggered
  fashion, between the beginning of May and the beginning of June, but under
  restrictive health conditions;

* Then the 4th quarter, during which activity was particularly dynamic. For
  Leisure Parks, sales for the 4th quarter rose substantially compared with
  last year and, adjusted for the impact of the closure of two sites in Belgium
  (following severe flooding), even showed growth compared with the 4th quarter
  of 2018/2019 (+5.6% adjusted for the aforementioned closures).

4th quarter: Group consolidated sales from July 1, 2021, through September 30,
2021

Consolidated sales for Compagnie des Alpes for the 4th quarter of FY2020/2021
totaled EUR171.8 million, versus EUR132.2 million for 4th quarter 2019/2020, an
increase of 30% thanks to the very good performance of Leisure Parks during
this period.

(In EUR thousands)

Unaudited data     Q4 2020/2021  Q4 2019/2020  Change   Change on a
                                                        comparable
                                                       scope basis(1)

Ski Areas              5 322         7 762     -31.4%     +13.0%
  Leisure Parks      161 178       118 859     +35.6%     +35.6%
  Holdings & Support   5 303         5 576      -4.9%      -4.9%
Total                171 803       132 197     +30.0%     +33.0%

(1) The change on a comparable scope basis excludes sales from the 2 Alpes ski
resort, which is no longer consolidated by the Group since December 1, 2020.

FY2020/2021 - Group consolidated sales from October 1, 2020, through September
30, 2021

The Group's consolidated sales for financial year 2020/2021 came to EUR240.6
million versus EUR615.6 million for financial year 2019/2020 which, as a
reminder, was not impacted by the health crisis until mid-March of 2020.

(In EUR thousands)

Unaudited data     2020/2021 2019/2020   Change   Change on a
                                                  comparable
                                                 scope basis(1)

Ski Areas            11 433   360 225    -96.8%     -96.7%
Leisure Parks       221 723   232 064     -4.5%      -4.5%
Holdings & Support    7 417    23 357    -68.2%     -68.2%
Total               240 573   615 645    -60.9%     -58.8%

(1) The change on a comparable scope basis excludes sales from the 2 Alpes ski
resort, which is no longer consolidated by the Group since December 1, 2020.

SKI AREAS: RETURN TO GROWTH IN THE 4TH QUARTER

Ski Area sales for the 4th quarter of financial year 2020/2021 totaled EUR5.3
million, growing on a comparable scope basis by +13% compared with the same
period of the previous financial year, which itself showed growth versus the
4th quarter of financial year 2018/2019 (the last reference year prior to the
health crisis). This good performance reflects the growing appetite for the
mountains in general, and summer activities such as Mountain Kart and the
Tyrolienne met with notable success.

For the year as a whole, Ski Area sales came to EUR11.4 million, versus
EUR360.2 million for the previous financial year. It includes the proceeds from
a real estate sale for EUR2.6 million that occurred in the course of the 3rd
quarter. The number of Skier Days was 0.3 million (compared with more than 11
million for the previous financial year).

LEISURE PARKS: EXCLUDING THE 2 BELGIAN SITES CLOSED DUE TO RECENT FLOODING,
ACTIVITY IMPROVED COMPARED WITH THE 4TH QUARTER OF 2018/2019

After the partial recovery of the 3rd quarter, activity for the 4th quarter was
particularly dynamic. Leisure Park sales reached EUR161.2 million in the 4th
quarter, an increase of +35.6% versus the same period the previous year,
despite the impact of the closure of both Walibi Belgium and Aqualibi due to
flooding as of July 15, 2021 (+47% excluding the impact of the closure of the
two Belgian sites1).

Sales for the 4th quarter of 2020/2021 thus rivaled those for the 4th quarter
of 2018/2019 (where sales reached a quarterly record of EUR170.2 million and
were the last reference year prior to the health crisis), and even grew by 5.6%
adjusted for the impact of the closure of the two Belgian sites due to
flooding.

This good performance is primarily attributable to a substantial increase in
visitor attendance for all sites compared with last year (+27.6% or +43.8%
adjusted for the impact of the closure of the two sites in Belgium), although
the level reached in the 4th quarter of 2018/2019 was not reached (-18.7% or
-6.5% adjusted for the impact of the closure of the two sites in Belgium).

(1) The comparison, adjusted for the closure of the 2 sites in Belgium is pro
rata temporis up to 07/15.

This performance is also due to robust spend per visitor (+6.1% versus the 4th
quarter of 2019/2020). For example, the three hotels in Parc Astérix recorded
an occupancy rate of 99% in August 2021.

Although the offering was once again adapted to the health crisis, visitor
satisfaction ratings improved in certain key areas such as the quality/price
ratio and staff hospitality.

For example, in operation until the park was flooded, the new mega-coaster at
Walibi Belgium, Kondaa, the highest and most rapid in all of Benelux, won a
European Star Award in 2021 and a Parksmania Award, and got a satisfaction
score of 9.5/10. The two major attractions inaugurated last year but only
really open to the public this year, Objectif Mars at Futuroscope and Wakala at
Bellewaerde, maintained their high satisfaction score of 9.2/10.

For financial year 2020/2021 as a whole, Leisure Park sales totaled EUR221.7
million, a level that is fairly close to that of the previous year (EUR232.1
million, -4.5%), while the number of days in operation decreased by 6% compared
with last year and despite the closure of Walibi Belgium and Aqualibi starting
in mid-July.

This performance is attributable to dynamic spend per visitor (+5.7% for the
year) and a decline in attendance that was limited to -10.2% (4.8 million
visitors versus 5.4 million in 2019/2020).

CLOSURE OF GRÉVIN MONTRÉAL

On September 16, 2021, the Group announced its decision to cease operation of
its Grévin Montréal site, which suffered from a decline in attendance during
the health crisis that further jeopardized its prospects of attaining economic
equilibrium.

HOLDINGS & SUPPORT

Holdings & Support sales for financial year 2020/2021 came to EUR7.4 million,
versus EUR23.4 million for financial year 2019/2020. The decrease primarily
reflects the impact of the health crisis on Travelfactory business.

LIQUIDITY POSITION

In light of the various measures taken throughout the financial year to
reinforce its liquidity position, including the successful capital increase
with preferential subscription rights for EUR231 million that was completed in
June, and the good performance recorded in the 4th quarter, the Group has the
latitude it needs to pursue the implementation of its growth and attractivity
strategy designed to restore its sales and profitability to the levels they had
attained before the crisis.

OUTLOOK

For Ski Areas, public authorities have indicated that, subject to how the
health crisis evolves, ski stations are de facto under common law jurisdiction
(vaccine passport for long distance travel, commercial accommodations,
restaurants, etc.); ski lift operators could thus open normally, according to
the schedule set out. This was the case for the Tignes glacier, which reopened
last weekend with the protocol in force (masks mandated for ski lifts).

Compagnie des Alpes, since the start of the pandemic, has maintained a
significant investment effort and has continued to play a leading role in
initiatives designed to benefit its sites and the Alpes ecosystem. This was the
principle guiding of the announcement last September that the rail service
between London Saint- Pancras and Moûtiers/Bourg-Saint-Maurice would resume
(Travelski Express), operated by Travelski (a wholly-owned subsidiary of the
Group).

For Leisure Parks, the Halloween season activities will be held at all Group
sites. The initial indicators (presales, reservations), as well as the sales
trends observed over the first two weeks of operation for sites that have
already opened, are in line with the dynamic observed during the 4th quarter.

Disclaimer:
In the environment of crisis created by Covid-19, the Group faces many
uncertainties which makes assessing the various impacts on Group results over
the short to medium term extremely complicated. These impacts will depend on
multiple factors, in particular the evolution of the pandemic, the preventive
measures enacted by the governments of countries in which the Group operates,
and the impact that this crisis will have short term on consumer behavior.

Upcoming events in 2020/2021:

* Annual Results 2020/2021:
  Tuesday, December 7, before stock market open

* 1st quarter 2021/2022 sales:
  Thursday, January 20, after stock market close

* Annual Shareholders' Meeting:
  Thursday, March 10, afternoon

* 2nd quarter 2021/2022 sales:
  Thursday, April 21, after stock market close

www.compagniedesalpes.com

Since it was founded in 1989, Compagnie des Alpes (CDA) has established itself
as an uncontested leader in the leisure industry. Today, the Group operates 10
prestigious ski resorts and 12 renowned leisure parks, using an integrated
approach that combines operational excellence and quality to achieve the Very
High Satisfaction of its customers but also the local communities in which it
is present. Compagnie des Alpes also exports its expertise, offering consulting
and assistance services to projects in diverse regions around the world.
Compagnie des Alpes has, in addition, leveraged its expertise to adapt to
changing patterns of consumption: an active force in the renovation of mountain
lodging, it has also developed a network of real estate agencies, is developing
its own thematic hotels adjacent to its parks with nationwide appeal and, since
2018, is the number 1 tour operator specializing in the online sale of ski
holiday packages in France.
Over the course of the financial year ended September 30, 2020, the Group
welcomed more than 16.5 million guests and generated sales of EUR615.6 M.
With nearly 5,000 employees, Compagnie des Alpes works with its partners to
build projects that generate unique experiences, the opposite of a standardized
concept. Exceptional leisure activities for everyone.

> Ski Areas operated by CDA: La Plagne, Les Arcs, Peisey-Vallandry, Tignes, Val
  d'Isère, Les Menuires, Méribel, Serre Chevalier, Flaine, Samoëns - Morillon
  - Sixt Fer-à-Cheval
> Leisure Parks operated by CDA: In France: Parc Astérix, Futuroscope, Walibi
  Rhône-Alpes, Grévin Paris, France Miniature; in Belgium: Walibi Belgium,
  Aqualibi, Bellewaerde, Bellewaerde Aquapark; in the Netherlands: Walibi
  Holland; in Switzerland: Chaplin's World; in Austria: Familypark

CDA is included in the CAC All-Shares, CAC All-Tradable, CAC Mid & Small and
CAC Small.
ISIN: FR0000053324; Reuters: CDAF.PA; FTSE: 5755 Recreational services

Compagnie des Alpes:
Alexia CADIOU - Group CFO:  +33 1 46 84 88 97
alexia.cadiou@compagniedesalpes.fr

Sandra PICARD - Head of Communications, Brand & CSR:
+33 1 46 84 88 53
sandra.picard@compagniedesalpes.fr

Alexis d?ARGENT ? Head of Investor Relations:
+33 1 46 84 88 79 alexis.dargent@compagniedesalpes.fr

Corpus: Xavier YVON ? Media Relations:
+33 6 88 29 72 37 xavier.yvon@corp-us.fr

ADDITIONAL INFORMATION
Consolidated sales, October 1, 2020, through September 30, 2021

(In thousands of euros)   Actual scope
               FY 2020/2021   FY 2019/2020    Change
First quarter:
Ski Areas            1 816       60 050       -97.0%
Leisure Parks       24 670       80 459       -69.3%
Holdings & Support     423        3 050       -86.1%
Q1 Sales            26 909      143 559       -81.3%
Second quarter:
Ski Areas              655      290 133       -99.8%
Leisure Parks        2 921       22 707       -87.1%
Holdings & Support   1 042       14 102       -92.6%
Q2 Sales             4 618      326 943       -98.6%
Third quarter:
Ski Areas            3 640        2 280        59.6%
Leisure Parks       32 954       10 038       228.3%
Holdings & Support     649          629         3.2%
Q3 Sales            37 243       12 947       187.7%
Fourth quarter:
Ski Areas            5 322        7 762       -31.4%
Leisure Parks      161 178      118 859       +35.6%
Holdings & Support   5 303        5 576        -4.9%
Q4 Sales           171 803      132 197       +30.0%
Annual total:
Ski Areas           11 433      360 225       -96.8%
Leisure Parks      221 723      232 064        -4.5%
Holdings & Support   7 417       23 357       -68.2%
Sales 12 months    240 573      615 645       -60.9%

Comparable scope (1)
FY 2020/2021 FY 2019/2020  Change

  1 293       54 868       -97.6%
24 670       80 459       -69.3%
    423        3 050       -86.1%
26 386      138 377       -80.9%

    655      265 434       -99.8%
  2 921       22 707       -87.1%
  1 042       14 102       -92.6%
  4 618      302 243       -98.5%

  3 457        2 013        71.7%
32 954       10 038       228.3%
    649          629         3.2%
37 060       12 680       192.3%

  5 269        4 662       +13.0%
161 178      118 859       +35.6%
  5 303        5 576        -4.9%
171 750      129 097       +33.0%

10 674      326 977       -96.7%
221 723      232 064        -4.5%
  7 417       23 357       -68.2%
239 814      582 397       -58.8%

(1) : The change on a comparable scope basis excludes the sales from the 2
Alpes ski resort, which is no longer consolidated by the Group since December
1, 2020.

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