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Amusement Parks: A Good Year at Compagnie des Alpes

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In the period ended September 30, 2008, consolidated sales of the Compagnie des Alpes Group reached 579.3 million Euro, rising +14.6% on a real basis and +6.4% like-for-like.

For Dominique Marcel, Chairman of the Management Board, "The Compagnie des Alpes has delivered one of its best performances ever in terms of like-for-like sales growth. Each of the Group’s two business segments grew in a highly competitive environment."

Ski areas: 344.3 million Euro (59% of sales) +7.8% like for like

Ski area sales grew by 23.7% on a real basis, including 14% from the consolidation of STVI (Val d’Isère) and its subsidiaries since the beginning of the financial year (sales: 38 million  Euro) and 2% attributable to the consolidation of SFB (Saas Fee) for the period from October 2007 to January 31, 2008.

Like-for-like sales growth was 7.8%. Lift ticket sales alone accounted for 334.0 million Euro, with growth of 8.7%. Group high-altitude ski areas offered favorable skiing conditions throughout the year. The quality of the product offer and the solid performances of the sales and accommodation teams allowed Group companies to beat the all-time record for visitor numbers, with 13.7 million skier days, a rise of +6.8% from the 2006-2007 season. Average daily receipts rose by just under 2%, with the closing of the Vanoise Express cable car for the entire season weighing mainly on the average sales price.

Land-sales transactions came to 10.3 million Euro for the financial year (compared to 12.2 million  for the previous exercise).

Leisure parks: 233.6 million Euro (40% of sales), +4.7% like for like

Sales for leisure parks rose 3.5%, including the disposal of the German leisure park PanoramaPark at the beginning of the financial year (sales 2006-2007: 2.6 million). Like-for-like sales growth was 4.7%.

Visitor numbers advanced by 3.4%, reaching 9.5 million over the year. This performance came in spite of extremely rough competition during the high season (July and August) in France. Parc Asterix had visitor numbers of 1.8 million for growth of over 12%, due largely to a greater number of opening days, particularly the 2007 Toussaint and Christmas holidays. Northern European leisure parks also had a good year, with overall visitor numbers up over 5% in Belgium and 3% in the Netherlands. Growth of visitor spending was limited to +1.3%, due mainly to an aggressive marketing policy that
focused on visitor numbers.

Outlook for 2007-2008 results

Given the level of business observed in the two segments as well as the consolidation of STVI (Val d’Isère), Compagnie des Alpes will see significant growth of its operating income and net attributable income compared to the 2006-2007 financial year.

Compagnie des Alpes is a major player in the field of leisure production in Europe. The company operates 38 leisure sites, including 17 leading ski areas in the Alps (including Tignes, Val d’Isère, Les Arcs, La Plagne, Les Menuires, Méribel, and Chamonix) and 21 leisure parks (including Parc Astérix, Grévin, Walibi, etc.) in seven European countries: France, Italy, Switzerland, the Netherlands, Belgium, Germany, and the UK. Consolidated sales were  505.7 million Euro for the financial year ending September 30, 2007, with Group net profit of 28.1 million Euro.

See also:
Philippe Segretain is named Chairman of the Compagnie des Alpes Supervisory Board

Dominique Marcel to become Chairman of the Management Board of Compagnie des Alpes on October 1, 2008
Compagnie des Alpes First half of FY 2007-2008 results

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