COMPAGNIE DES ALPES (EPA:CDA) - Compagnie des Alpes // Sales for financial year 2016/2017

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19/10/2017 17:45

Press Release

Sales for financial year 2016/2017

  Annual sales rise 6.6% on a comparable basis* thanks to a sustained dynamic
                             across business lines

Paris, October 19,  2017 - Compagnie des Alpes reports consolidated sales for
financial year 2016/2017 of EUR762.2 million. On a comparable basis,* sales
were up by 6.6% to EUR761.5 million. All of the Group's business divisions
contributed to this good performance.

Consolidated annual sales, October 1, 2016 through September 30, 2017

(In EUR thousands)
                        2016/2017       2016/2017      2015/2016   Change on a
                      Actual scope  Comparable scope*  Comparable  comparable
                                                         scope*      basis*

Total sales, of which:   762 176         761 457        714 269       +6.6%

- Ski Areas              426 855         426 855        409 601       +4.2%
- Leisure Destinations   320 938         320 219        295 521       +8.4%
- Group Development       14 345          14 345          9 135      +57.0%

* Comparable scope reflects the Group's consolidated sales excluding Fort Fun,
which was sold in the course of the 3rd quarter of 2016/2017.

In the 4th quarter of 2016/2017, consolidated sales reached EUR148.8 million on
a comparable basis,* an increase of 3.0%.

Ski Areas: For the 3rd  year in a row, a strong rise in sales

In a winter that saw less snowfall than usual, Ski Area divisional sales in
2016/2017 amounted to EUR426.9 million, an increase of 4.2% compared with the
previous financial year. Ski lift sales, which account for almost 95% of total
sales for the Ski Areas division, rose by 4.4%.

This growth was driven by a 0.5% increase in the number of skier days for the
Group's ski resorts. By comparison, the number of skier days for the French
market as a whole fell by 1.5%(1). This resilience shown by Compagnie des Alpes
ski areas demonstrates the appeal and quality of its sites and attests not only
to ongoing efforts made to constantly improve the ski offering but also
initiatives aimed at enhancing the customer experience by focusing on the
appeal, the accommodations, and the marketing of the Group's ski areas. At the
same time, the average expenditure per skier day rose by 3.9%, including a
price effect of 2.5% and a mix product effect of 1.4%.

Sales for the 4th quarter of financial year 2016/2017 (EUR6.8 million), which
accounts for less than 2% of the annual total, was down by 7.9% compared with
the 4th quarter of 2015/2016. This is primarily because the Group's facilities
were open fewer business days during the summer season than last year.

(1) Domaines Skiables de France - October 2017 press release.

Leisure Destinations: sales growth tops 30% on a comparable basis for the last
four years

On a comparable basis,* annual Leisure Destination sales for the 2016/2017
financial year increased by 8.4% compared with the previous year, reaching
EUR320.2 million and bringing aggregate growth for the last four financial
years to 31.2% on a comparable basis.

For the year as a whole, the increase in sales was driven primarily by growth
in attendance (+6.4 %). Contributing to this dynamic, six of the Group's
leisure destinations broke attendance records, including Parc Astérix which,
for the first time in its history, surpassed the important milestone of 2
million visitors in one year. The extension of the Trois Hiboux hotel, the
first in a three-phased plan for increasing the Parc's capacity to accommodate
overnight guests, boosted visitor attendance.

Customer Satisfaction remained high over the entire season despite the
increased volume. The new major structural attractions inaugurated this year
(Pégase Express at Parc Astérix, L'Extraordinaire Voyage at Futuroscope and
The Voice at Grévin), as well as the ongoing implementation of the Very High
Customer Satisfaction action plans, have increased both the appeal of the
sites.

In-park sales, which account for more than a third of total leisure destination
sales, grew by more than 10%, faster than front gate ticket sales, illustrating
the success of the Group's strategy of offering a wide range of restaurant and
shopping options that meet visitor expectations.

For the fourth quarter, which represents 43% of the annual sales total, sales
on a like-for-like basis* came  to EUR137.6 million, an increase of 3.3% that
exceeded the Group's objective of reaching the same level as last year, since
the very clement weather conditions during the final quarter of 2015/2016
boosted sales. It should be noted that sales were uneven this year, especially
in August.

Group Development: new contracts in China ahead of the 2022 Winter Olympics

Throughout FY 2016/2017, Group Development sales increased by more than 50% to
reach EUR14.3 million.

Grévin International sales reached EUR10 million for the year, driven largely
by the success of Chaplin's World by Grévin in Switzerland. The performances
of the other three Grévin venues (Montreal, Praha, and Seoul) remain below
expectations, especially Seoul, where attendance was adversely impacted by
unfavorable conditions linked to the geopolitical climate that drove Chinese
customers away.

The consulting business continued to expand throughout the year, with several
new technical assistance contracts signed, particularly in China. These
included continuation of the Thaiwoo site assistance and operating contract,
design and construction support at the Yanqing resort - selected to host the
main events at the 2022 Olympics - and master plan agreements at the Altai
resort and in the Ürümqi area. The consulting business also achieved notable
successes this year in other regions, including Turkey, Kazakhstan, Georgia,
Moscow, and the Jardin d'Acclimatation in Paris.

Outlook

Sustained sales and cost control efforts should enable the Group to improve its
operating performance for financial year 2016/2017.

For the Ski Areas division, the EBITDA margin should be in line that of the
previous year, which was 35.8%.

As of this year, the Leisure Destinations division (excluding Futuroscope) will
see its EBITDA margin exceed 27%, which is the target the Group had set for FY
2018/2019.

Concerning Grévin's international business and as announced, the specific
action plans implemented in Montreal, Praha, and Seoul are currently being
assessed. Depending on the options chosen for the future development of each
of the sites, the Group will conduct a thorough review of the carrying value
of these assets. This situation will be addressed in detail when the annual
results are presented on December 12, 2017.

The project aimed at bringing in new shareholders for the purpose of stepping
up the  Group's international development remains on the table.

Upcoming events:

- Annual results for FY 2016/2017: Tuesday, December 12, 2017 before stock
  market opens
- 1st quarter 2017/2018 sales: Thursday, January 18, 2018, after stock market
  closes
- Annual Meeting of the Shareholders: Thursday, March 8, 2018, in the
  afternoon

www.compagniedesalpes.com

Since it was founded in 1989, Compagnie des Alpes has established itself as an
uncontested leader in the leisure industry. At the helm of 11 of the world's
most prestigious ski resorts (Tignes, Val d'Isère, Les Arcs, La Plagne, Les
Menuires, Les 2Alpes, Méribel, Serre-Chevalier, etc.) and13 renowned leisure
destinations (Parc Astérix, Grévin, Walibi, Futuroscope, etc.), the company
is steadily expanding in Europe (France, the Netherlands, Belgium, etc.) and,
more recently, at the international level (Grévin Montréal in April 2013,
Grévin Praha in May 2014, Grévin Seoul in July 2015 and engineering and
management assistance contracts (Russia, Morocco, Japan)). CDA also owns stakes
in 4 ski areas, including Chamonix.
During the financial year ended September 30, 2017, CDA facilities welcomed
nearly 23 million visitors and generated consolidated sales of 762.2 MEUR.
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.

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 :      Denis HERMESSE   +33 1 46 84 88 97
                           denis.hermesse@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

Thomas Marko & Associés:   Xavier YVON      +33.6 88 29 72 37
                           xavier.y@tmarkoagency.com

Consolidated sales, from October 1, 2016 through September 30, 2017

                          Comparable scope*               Actual scope
(In thousands
of euros)             FY         FY       Change    FY         FY      Change
                   2016/2017  2015/2016           2016/2017 2015/2016
First quarter:

Ski Areas            66 200     65 400     +1.2%    66 200    65 400    +1,2%
Leisure Destinations 62 844     54 994    +14,3%    63 485    55 632   +14,1%
Group Development     3 255      1 209   +169,2%     3 255     1 209  +169,2%
Other                   235          0      NA         235         0      NA

Total sales         132 534    121 603     +9,0%   133 175   122 241    +8,9%

Second quarter:

Ski Areas           303 555    298 348     +1,7%   303 555   298 348    +1,7%
Leisure
Destinations         20 172     21 600     -6,6%    20 250    21 740    -6,9%
Group Development     3 354      1 373   +144,2%     3 354     1 373  +144,2%
Other                  -215          1      NA        -215         1      NA

Total sales         326 866    321 322     +1,7%   326 944   321 462    +1,7%

Third quarter:
Ski Areas            50 325     38 499    +30,7%    50 325    38 499   +30,7%
Leisure
Destinations         99 652     85 746    +16,2%    99 652    87 215   +14,3%
Group Development     3 300      2 686    +22,8%     3 300     2 686   +22,8%
Other                     1          5      NA           1         5      NA

Total sales         153 278    126 936    +20,8%   153 278   128 405   +19,4%

Fourth quarter:

Ski Areas             6 775      7 354     -7.9%     6 775     7 354    -7.9%
Leisure
Destinations        137 551   133 181     +3.3%   137 551   136 844    +0.5%
Group Development     4 437      3 866    +14.8%     4 437     3 866   +14.8%
Other                    17          6      NA          17         6      NA

Total sales         148 780    144 407     +3.0%   148 780   148 070    +0.5%

Annual totals

Ski Areas           426 855    409 601     +4.2%   426 855   409 601    +4.2%
Leisure
Destinations        320 219    295 521     +8.4%   320 938   301 431    +6.5%
Group Development    14 345      9 135    +57.0%    14 345     9 135   +57.0%
Other                    38         12      NA          38        12      NA

Total sales         761 457    714 269     +6.6%   762 176   720 179    +5.8%

*Comparable scope reflects consolidated sales excluding Fort Fun sales,
disposed on in 3rd  quarter 2016/2017.

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COMPAGNIE DES ALPES (EPA:CDA) - Compagnie des Alpes // Sales for financial year 2016/2017

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