COMPAGNIE DES ALPES (EPA:CDA) - CDA // FY 2014/2015 Q3 sales

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23/07/2015 17:50

Communiqué de presse

          CONSOLIDATED SALES FOR THE FIRST 9 MONTHS OF FY 2014/2015

                    SALES UP ON A COMPARABLE BASIS: +4%

Boulogne, July 23, 2015 - Compagnie des Alpes announces consolidated sales of
EUR556.9 M for the first nine months of financial year 2014/2015, an increase of
4.0% on a comparable basis and of 2.4% on a current basis compared with the same
period the previous financial year.
For the third quarter, consolidated sales were up by 8.9% on a comparable basis
(+3.0% on a current basis), reaching EUR135.9 M.

Group consolidated sales for the first 9 months - October 1 through
June 30, 2015

                                    2013/2014   Change on a  2013/2014
                                    Comparable  comparable    Current   Actual
(In EUR thousands)       2014/2015    basis*      basis        basis    change

Total sales, of              556.9       535.6        4.0%       543.9   2.4%
which:
* Ski Areas                  386.8       380.5        1.7%       380.5   1.7%
* Leisure destinations       166.2       151.4        9.7%       159.7   4.0%
* International
Development                3.8         3.3       12.8%         3.3  15.3%

*For Leisure Destinations, the comparable scope excludes Q2 and Q3 sales in
2014 for the two parks that were sold last January (Dolfinarium of Harderwijk
and Walibi Sud-Ouest) and June 2014 sales for the two parks sold in early June
of this year (Planète Sauvage and Mer de Sable).
For International Development, the comparable scope has been adjusted for forex
translation impacts by recalculating sales from the prior period on the basis of
current exchange rates.

Ski Area: good performances in Q2 and Q3

Ski Area sales for the first 9 months of the financial year came to 386.8 MEUR,
an increase of 1.7% compared with the same period the previous financial year.
This performance was boosted by sales for both the second and third quarters,
after sales during the first quarter were penalized by challenging weather
conditions. For the first 9 months of the year, ski lift ticket sales rose by
+0.9%, with the decline in skier days limited to just -1.1%, compared with a
decline in ski resort skier visits nationwide of -4%.(1) The average spend per
skier day rose by +2.0%.

Consolidated sales for the 3rd quarter rose by 11.2 %, reaching EUR42.5 M,
boosted by a particularly brisk pace of business during the first half of the
spring break period. Sales were also lifted by a land sale in Les Arcs for a
total of EUR1.9 M. Excluding the impact of this sale, 3rd quarter sales were up
by 6.2%.

Sales volume in the 4th quarter is marginal and not expected to have an impact
on the overall trend for the financial year. It should be noted, however, that
sales for the 4th quarter last financial year included a one-off land sale for
EUR1 M.

(1) See the outlook memo published on May 26, 2015 by Domaines Skiables de
France.

Leisure destinations: sales remain dynamic

Excluding the impact of the sale of 4 parks in the first six months of the
year,(2) consolidated sales for the first 9 months of the financial year
increased by 9.7% to EUR166.2 M. This improvement was driven by the increase in
the number of visitors, which remains robust (+9.3%), combined with close
management of the pricing policy (+0.4%).

This solid performance has been made possible by the Group's ongoing efforts in
connection with the "Very High Satisfaction" strategy it is rolling out in all
of its parks, as well as by its commercial efforts and favorable weather
conditions, and despite the fact that the major dominant attractions will not be
presented until next year.

The level of visitor spend in leisure parks, a pillar of the Group's sales
development strategy, also confirms this dynamic trend. For the first 9 months
of the financial year, "Shops & Restaurant" sales rose by +10.3%.

Over the 3rd quarter, Leisure destinations sales increased by +8.8% on a
comparable basis (+0.4% on a current  basis), to EUR92.8 M.

The 4th quarter, which typically accounts for around 50% of annual sales, is
expected to be unchanged or slightly up compared with the same period the
previous financial year.

International Development: the first park in Asia set to open

International Development sales, which currently account for less than 1% of the
Group's total sales, rose by 12.8% on a comparable basis over the first 9 months
of the financial year, reaching almost EUR3.8 M.

Consulting and Assistance fees for the 3rd quarter were lower than they were for
the 3rd quarter of financial year 2013/2014 due to the timing of the contracts
and the fact that those signed with Northern Caucasus Resorts (NCR) for the
Elbrus and Arkyz sites reached their term.
The Group has just signed a new contract with NCR, the fourth one, for another
consulting assignment in the Caucasus.

For Grévin International, sales for the first 9 months reflect the full-year
impact of the opening of Grévin Prague. The inauguration of Grévin Seoul,
which marks the brand's first opening in Asia, is scheduled for July 29 and will
be open to the public as of July 30.

(2) Last January, the Group announced the sale of Dolfinarium of Harderwijk and
the Walibi Sud-Ouest park to Continental Leisure Projects SARL, linked to the
Aspro group. These disposals are effective since January 8 and 29, 2015,
respectively. The Group then announced, on May 22, 2015, that it was selling the
Planète Sauvage and Mer de Sable parks to the Looping group. This sale was
completed on June 4, 2015.

Upcoming events:

* Annual sales for FY 2014/2015: Thursday, October 22, 2015, after market.
* Annual results for FY 2014/2015: Tuesday, December 15, 2015, before market.

www.compagniedesalpes.com

About Compagnie des Alpes
With more than 23 million visitors and sales of 693MEUR (financial year ended on
30/09/14), Compagnie des Alpes is a world leader in the leisure industry. The
number 1 ski area operator in the world, CDA is present in 15 of the world's
most prestigious ski resorts, including Tignes, Val d'Isère, Chamonix and
Méribel.
Ranked among the world's top 10 players in the leisure industry, CDA operates
14 parks around the globe, including two of Europe's top 10 parks, Futuroscope
(1.6M visitors) and Astérix (1.7 M visitors), the Walibi parks in France, the
Netherlands and Belgium, and is developing the Grévin wax museum concept
worldwide (Paris, Montréal, Prague, Seoul - in July 2015 - and in Vevey,
Switzerland (2016) via a museum dedicated to Charlie Chaplin - Chaplin's World
By Grévin).

Based in Boulogne Billancourt (France), Compagnie des Alpes employs 5,000 people
worldwide and has been listed on Euronext Paris since 1994.

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

Contacts:
Compagnie des Alpes:

Victoire AUBRY  +33 1 46 84 88 97   victoire.aubry@compagniedesalpes.fr
Sandra PICARD   +33.1 46 84 88 53   sandra.picard@compagniedesalpes.fr
Alexis d'Argent +33 1 46 84 88 79   alexis.dargent@compagniedesalpes.fr

Les Ateliers Corporate:
Xavier YVON     +33.1.84.16.02.08   xavier.yvon@lesatelierscorporate.com

   Consolidated sales for the Group, October 1, 2014 through June 30, 2015

                              FY        FY         Change       FY
(In thousands of euros)   2014/2015  2013/2014   Comparable  2013/2014  Change
                                     Comparable    basis       urrent
Actual
                                       basis                   basis

First quarter:
Ski areas                    64 659     69 552       -7.0%     69 552    -7.0%
Leisure destinations         54 692     47 443       15.3%     47 443    15.3%
International development     1 652        616      168.0%        609   171.3%
Other                             0        120     -100.0%        120  -100.0%
Total sales                 121 003    117 731        2.8%    117 724     2.8%
Second quarter:
Ski areas                   279 716    272 738        2.6%    272 738     2.6%
Leisure destinations         18 700     18 711       -0.1%     19 867    -5.9%
International development     1 406      1 359        3.5%      1 323     6.3%
Other                           237        334      -29.0%        334   -29.0%
Total sales                 300 059    293 142        2.4%    294 262     2.0%
Third quarter:
Ski areas                    42 453     38 164       11.2%     38 164    11.2%
Leisure destinations         92 766     85 264        8.8%     92 415     0.4%
International development       717      1 372      -47.8%      1 343   -46.6%
Other                           -75         -7         NA          -7      NA
Total sales                 135 861    124 793        8.9%    131 915     3.0%
Cumulative through
3rd quarter
Ski areas                   386 828    380 454        1.7%    380 454     1.7%
Leisure destinations        166 158    151 418        9.7%    159 725     4.0%
International development     3 775      3 347       12.8%      3 275    15.3%
Other                           162        447      -63.8%        447   -63.8%
Total sales                 556 923    535 666        4.0%    543 901     2.4%

*For the Leisure Parks division, comparable scope excludes Q2 and Q3 2014 sales
for the two parks that were sold last January (Dolfinarium d'Harderwijk and
Walibi Sud-Ouest) and June 2014 sales for the two parks sold in early June
(Planète Sauvage and Mer de Sable).
For International Development, the comparable scope has been adjusted for forex
translation impacts by recalculating sales from the prior period on the basis of
current exchange rates.

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