Compagnie des Alpes have reported full year results above expectations.
Leisure Parks sales are up 6.3% driven by an increase in visitor numbers of 6.9% to over 9 million. The increase is has been attributed to the strategic overhaul of the parks, devolvement of more responsibility to park management and a focus on customer service.
International Development sales have doubled compared to the prior year to €5.3m due to the promotion of Grévin and new assistance contracts in the Caucasus (Arkhyz, Elbrus, Veduchi, etc.).
Halloween has been particularly successful for CDA boosting 2013/14 sales by more than 15% for the leisure park division.
The Group’s divisional EBITDA was up 10.7% (at €192.3m) this year and the divisional EBITDA margin rose by to 27.8%; an improvement that was “particularly spectacular in the leisure parks division”, where the EBITDA margin increased to 20%.
Leisure Park Outlook for 2015
Musée Grévin is set to open in Seoul in the second half of 2015. The project is being run as a joint venture with Mast Entertainment Ltd, a leading producer of live entertainment in South Korea.
The continued success of consulting assignments and Grévin Prague as well as the opening of Grévin Seoul at the end of 2015 and Chaplin’s World in 2016 are set to deliver future international growth for CDA.
Commenting on the annual results, Chairman and CEO Dominique Marcel said, “I am delighted that the improvement in our earnings and cash flow generation ratios exceeded expectations. What makes these good performances all the more satisfactory is that the economic situation in our principal markets was unfavourable. They reflect the magnitude of the work accomplished over the course of this year to get our Leisure Park business back on track for profitable growth and in alignment with the market’s highest standards. Our effort will be pursued with determination across the Group’s businesses. Our ability to evolve our economic model and the growing interest that our international offerings are generating confirm our potential to play a leading role in the growing global leisure market.”