Compagnie des Alpes // 2020 Universal Registration Document

5 FINANCIAL INFORMATION

Consolidated financial statements

5.7 EARNINGS PER SHARE OF PARENT COMPANY SHAREHOLDERS AND DILUTED EARNINGS PER SHARE The earnings per share of the parent company shareholders amounted to -€104,345 thousand.

2020

2019

(in thousands of euros)

Net income - Share of parent-company shareholders

-104,345

62,244

Number of shares outstanding

24,510,101

24,457,051

NET INCOME - SHARE OF PARENT-COMPANY SHAREHOLDERS

-4.26

2.55

2020

2019

(in thousands of euros)

Net income - Share of parent-company shareholders used for the calculation of diluted earnings per share

-104,345

62,244

Number of shares outstanding

24,510,101

24,457,051

Adjustment to factor in the dilutive effect of performance share plans DILUTED EARNINGS PER SHARE OF PARENT COMPANY SHAREHOLDERS

134,940

122,650

-4.24

2.54

Performance shares were taken automatically in the calculation of diluted earnings, but in fact they do not have a dilutive effect given the loss.

5.8 OPERATIONAL ROCE For 2019/2020, the reconciliation between the Group ROCE and the operating ROCE was as follows:

Ski areas and Leisure parks Rest of the Group

Group total

Net operating income Theoretical tax (at 31%)

-75,993

-29,868

-105,861

23,558

9,259

32,817

After tax net operating income Assets used excluding goodwill

-52,435

-20,609

-73,044

1,176,022

-1,254

1,174,767

DIVISIONAL ROOC

-4.5%

-6.2%

270,189

-

270,189

Goodwill

Total assets used (including goodwill )

1,446,211

-1,254

1,444,956

GROUP ROCE

-5.1%

Note 6

Information on the consolidated balance sheet

6.1 GOODWILL Net goodwill breaks down as follows:

Gross amount

Impairment

Net amount

(in thousands of euros)

AT 30/09/2018

307,198

-13,063

294,135

Changes in the scope of consolidation

41,203 -3,826

- -

41,203 -3,826

Other changes AT 30/09/2019

344,575

-13,063

331,512

Changes in the scope of consolidation

-

-

-

Other changes

-8,373 -4,196

-52,950

-61,323

Activities held for sale

4,196

-

AT 30/09/2020

332,006

-61,817

270,189

The line “Activities held for sale” represents the disposal of the DAL historical goodwill. The “Impairment” column includes:

l the impairment of goodwill of the Travelfactory sub-group for €7.4 million; l an impairment of goodwill of the Leisure parks BU in the amount of €41.4 million; l the impairment of goodwill of the Ski areas BU allocated to Deux Alpes Loisirs in the amount of €4.2 million.

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Compagnie des Alpes I 2020 Universal registration document