Compagnie des Alpes - 2017 Registration Document

5 FINANCIAL INFORMATION

Parent-company financial statements

3.2 NON-CURRENT FINANCIAL ASSETS The changes in non-current financial assets can be summarised as follows:

At 30/09/2017

At 30/09/2016

Increases

Decreases

(in thousands of euros)

Shareholdings

858,700

11,672

-11,770

858,602

Shareholdings in non-consolidated companies

6,066 23,377

-

-198

5,868 17,958

Related receivables (and accrued interest not yet due)

1,629

-7,048

Accrued dividends

170 354 411 524

-

-170

-

Deposits and guarantees

2,851

-7

3,198

Treasury stock

-

-165

246 730

Outstanding cash for the market-making agreement

206

-

GROSS TOTAL

889,602 -40,537 849,065

16,358 -19,864 -3,506

-19,358 13,075 -6,283

886,602 -47,326 839,276

Impairment of shareholdings

NET TOTAL

The increase in shareholdings is due to the recapitalisation of the subsidiaries: CDA Productions for €1.3 million, CDA Management for €0.6 million, Grévin Prague for €1 million, Grévin Seoul for €8.1 million and CDA Beijing for €0.6 million. Disposals relate to: z the removal of the securities of CADEVI and CDA Achats for €0.6 million, since these companies were fully transferred to the balance sheet of Compagnie des Alpes; z the removal of the securities of Grévin Deutschland, for a gross value of €11.1 million and a net value of €2.9 million, following the disposal of the company to Looping Holding.

Furthermore, in 2016/2017, shareholdings were impaired under provisions in the amount of €19.9 million and were reversed in the amount of €4.8 million. The change in non-consolidated securities is a result of the sale of the CI2S securities to Méribel Alpina to form Méribel Privé (gross value of €198 thousand, net value of €100 thousand). The change in related receivables reflects the investment of parts of the proceeds of the Euro PP bond issue with CDA Financement (amount updated to €10 million) on the one hand, and the total advances of €0.5 million granted to 2CO IMMO and Foncière Rénovation Montagne. As consideration, By Grévin had repaid €2 million of its advance.

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Compagnie des Alpes 2017 Registration Document