COMPAGNIE DES ALPES (EPA:CDA) - Compagnie des Alpes // 2017/2018 1st quarter sales

Transparency directive : regulatory news

18/01/2018 17:45

Press Release

1st quarter of 2017/2018

Sales up slightly thanks to Leisure Destinations and despite the fact that a
     full week of the Christmas holiday was positioned in the 2nd quarter

Paris, January18, 2018 - Compagnie des Alpes reports consolidated sales for the
first quarter of financial year 2017/2018 totaling EUR133.2 M, an increase of
+1.0% on a comparable basis versus the same period one year earlier.

Group consolidated sales, from October 1, 2017 through December 31, 2017

(In EUR thousands)
                         2017/2018   2016/2017     Change        2016/2017
                                     Comparable    Comparable    Actual scope,
                                     basis*and**   basis*and **  adjusted**

- Ski Areas                62 116      66 200        -6.2%         62 200
- Leisure Destinations     70 091      65 106        +7.7%         65 747
- Holdings and Supports       975         537       +81.6%            537

Total                     133 182     131 843        +1.0%        132 484

*Comparable basis corresponds to consolidated sales excluding all sales from
Fort Fun, which was sold in 2017.

**The Group announced its decision to discontinue its business activities in
Prague and Seoul and, as a result, has reclassified the sales and earnings of
these companies as discontinued businesses in FY 2017/2018 and FY 2016/2017
data presented for the sake of comparison. In addition, the museums Grevin
Montreal and Chaplin's by Grevin, as well as CDA Production, have been
reclassified under Leisure Destinations. The consulting business carried by
CDA Management and CDA Beijing have been reclassified under Holdings and
Supports.

Ski Areas: sales analysis made more difficult by the timing of the Christmas
school holidays

Ski Area sales for the 1st quarter amounted to EUR62.1 M, a decline of 6.2%
compared with the same period one year earlier.

This expected downturn is primarily attributable to the fact that the second
week of the French Christmas school holidays fell entirely after December 31st
and hence in the 2nd quarter, contrary to last year.

In the course of the 1st quarter, the first winter cold spells and snowfall
enabled the Group to operate its ski resorts in line with its expectations
starting in the pre-season and then during the first week of the Christmas
holidays.

Accordingly, Ski Lift sales strictly speaking (95% of sales), were down by 5.8%
for the quarter, reflecting the 5.3% decrease in the number of skier days.

The strong snowfall and violent winds during Storm Eleanor had an adverse
impact on the activity in the first week of January. As a result, through
January 12, total sales since the beginning of the fiscal year are down
slightly, but no judicious conclusion on the overall ski season performance
can be drawn from this, as the season should be judged as a whole.

Leisure Destinations: new sales growth linked to the Halloween period

Once again this year, sales for the 1st quarter of 2017/2018 for the Leisure
Destination division rose significantly, increasing by 7.7% on a comparable
basis (+6.6% on an actual basis) to reach EUR70.1 M. For the first three months
of the current financial year, this performance was driven not only by an
increase in average spend per guest of 4.3% but also by further increases in
attendance figures, which rose by 3.4% overall.

Since 2013, and on a comparable basis, 1st quarter facility attendance has
increased every year, from 1.1 million to 1.7 million visits. Sales doubled
over the same period and, for the first time in a 1st quarter, accounted for
more than 50% of the Group total quarterly sales. The relative weight of the
1st quarter in annual sales for the Leisure Destination as a whole has risen
steadily, from nearly 16% in 2013 to almost 20% last year.

This performance reflects, in particular, the ever-increasing success of the
Halloween period. Its steady sales growth in recent years can be attributed to
a number of factors, including an increase in the number of sites participating
in the event, the expanded number of site operating days, the scheduling of
additional evening hours, and a rise in attendance over the period. Lastly, the
average spend per guest continues to grow at a sustained pace.

This attests to the relevance of the Group's strategy, which has made the
development of events as the peak season winds down a major focus.

Holdings and Supports: new scope and acquisition of Travelfactory

As announced when annual results were published, international prospecting and
consulting are now accounted for under the Holdings and Supports division.

On a comparable basis, sales for this division rose from EUR0.537 M in the 1st
quarter of financial year 2016/2017 to EUR0.975 M in the 1st quarter of
financial year 2017/2018. This rise was driven in particular by service
agreements with the Jardin d'Acclimatation in Paris and the business generated
by the Group's subsidiary in Beijing.

On January 9, 2018, Compagnie des Alpes announced that it had signed an
agreement to acquire a majority stake in Travelfactory, a company that
specializes in vacation rentals and group trips. Thanks to this acquisition,
Compagnie des Alpes becomes the leading distributor of mountain holidays. The
company is expected to be fully consolidated as of January 1, 2018 and will be
accounted for under the Holdings and Supports division.

With annual business volume of around 85 million euros, Travelfactory produces
sales of around 35 million euros. TravelFactory employs 130 people.

Sales trends for the rest of this financial year

This outlook for 2017/2018 is provided barring any major economic or climatic
hazard.

- Ski Areas
The Group is confident in the rest of the season, as snow has fallen in
abundance in recent weeks on all major mountain ranges. Bookings to date are
higher than last year on the same date.

- Leisure Destinations
In line with the growth strategy initiated over the past few years, the Group
continues with its investment policy designed to increase the capacity and
strengthen the appeal of its highest profile sites. Futuroscope will offer this
year an augmented reality attraction featuring Sébastien Loeb. Parc Astérix
will open a new themed hotel called "La Cité Suspendue" offering 150
additional rooms enabling to accommodate visitors from outside its traditional
catchment area. The transformation of Walibi Rhône-Alpes will continue, with
plans for a new thematic area called "Festival City." In Belgium, further than
the enrichment of Aqulibi, wich will reopen its gates from March 31, the season
will mark the beginning of the Walibi park's refurbishment, including a family
rollercoaster.

Upcoming events:

Annual Shareholders' Meeting:        Thursday, March 8, 2018, afternoon

2Q 2017/2018 sales:                  Thursday, April 19, 2018, after stock
                                     market close

1S 2017/2018 results:                Thursday, May 24, 2018, in the morning

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 Prague 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 EUR762.3 million.

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

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COMPAGNIE DES ALPES (EPA:CDA) - Compagnie des Alpes // 2017/2018 1st quarter sales

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