Compagnie des Alpes // 2020 Universal Registration Document

5 FINANCIAL INFORMATION

Consolidated financial statements

5.2

EBITDA BY BUSINESS SEGMENT

EBITDA breaks down as follows:

Ski areas Total 30/09/2020 30/09/2019 30/09/2020 30/09/2019 30/09/2020 30/09/2019 30/09/2020 30/09/2019 Leisure parks Holdings and supports

(in thousands of euros)

Revenue EBITDA*

360,225

443,777

232,064 380,713

23,357

29,521

615,645

854,011

123,258 165,523

1,155

97,020 -30,638 -30,251

93,775 232,292

Operating margin (EBITDA/revenue)

34.2%

37.3%

0.5%

25.5%

NS

NS

15.2%

27.2%

* 2020 data are established in application of IFRS 16 “Leases” Changes related to the application of this new standard are presented in Note 8.

Figures for capital expenditure by segment are also shown below, together with the proportion of revenue they account for.

Ski areas Total 30/09/2020 30/09/2019 30/09/2020 30/09/2019 30/09/2020 30/09/2019 30/09/2020 30/09/2019 Leisure parks Holdings and supports

(in thousands of euros)

NET CAPITAL EXPENDITURE

80,082 101,635

86,081 102,829

8,944

4,908 175,107 209,372

Capital expenditure as a proportion of revenue

22.2%

22.9%

37.1%

27.0%

38.3%

16.6%

28.4%

24.5%

5.3

OTHER OPERATING INCOME AND EXPENSES

30/09/2020

(in thousands of euros)

Goodwill impairment

-48,754

Exceptional income and expenses related to the early termination of the Deux Alpes PSC

-3,115

Exceptional indemnities

650

Other

29

OTHER OPERATING INCOME AND EXPENSES

-51,190

The impairment of goodwill breaks down as follows:

30/09/2020

(in thousands of euros)

Travelfactory goodwill impairment Leisure Parks BU goodwill impairment

-7,354

-41,400 -48,754

GOODWILL IMPAIRMENT

The exceptional income and expenses related to the early termination of the Deux Alpes PSC break down as follows:

30/09/2020

(in thousands of euros)

Early termination indemnity (share) Deux Alpes Loisirs goodwill impairment

3,790 -4,196 -2,709 -3,115

Provisions for risks and expenses related to termination

EXCEPTIONAL INCOME AND EXPENSES RELATED TO THE TERMINATION OF THE DAL PSC

5.4

COST OF DEBT, OTHER FINANCIAL INCOME AND EXPENSES

30/09/2020

30/09/2019

(in thousands of euros)

Interest expense on borrowings Interest expenses on lease liabilities

-9,934 -2,618

-8,270

-

NET COST OF DEBT

-12,552

-8,270 -1,229

Losses on financial transactions*

-1,405

Other financial income Foreign exchange income

-377 -537 1,132

-67 307

Impact on profit or loss of securities valued at FVR**

-1,281

Impairment of financial receivables

-4,600

-

Dividends received

226

217

OTHER FINANCIAL INCOME AND EXPENSES

-5,561

-2,053

* Share of losses of unconsolidated companies (tax transparency). ** Including provisions for losses of subsidiaries.

155

Compagnie des Alpes I 2020 Universal registration document