Compagnie des Alpes // 2020 Universal Registration Document

5 FINANCIAL INFORMATION

Consolidated financial statements

Discount rate sensitivity

Discount rate

(-0.5 points)

Actual 50,677 2,830

(+0.5 points)

(in thousands of euros)

Present value of obligations (= commitments)

53,643

47,958

Cost of services rendered

3,067

2,618

Interest

54

307

529

Compensation sensitivity

Increase in compensation

(-0.1 points)

Actual 50,677 2,830

(+0.1 points)

(in thousands of euros)

Present value of obligations (= commitments)

50,132

51,230

Cost of services rendered

2,788

2,873

Interest

303

307

310

Current provisions Current provisions cover the risks directly related to the operation of the Group’s sites. The change in current provisions breaks down as follows:

Income

Liabilities held for sale

30/09/2020

30/09/2019

Increases

Reversals

Provision for major repairs

7,963 6,736

2,245

-3,249 -3,243 -6,492

-823

6,136 10,775 16,911

Other

12,622 14,867

-5,340 -6,163

TOTAL

14,699

Provisions for major repairs are only for the Ski areas and are intended to cover work on lifts under leasing contracts. Provisions for major maintenance relating to the ski lifts of the Deux Alpes resort, as well as provisions relating to the end of the PSCs, were reclassified as liabilities held for sale. BORROWINGS Breakdown of gross borrowings and net debt 6.12

Other current provisions mainly relate to ongoing litigation for €6.4 million, social and tax audits for €1.5 million, provisions for negative net position of non-consolidated companies (€0.9 million) and provisions for miscellaneous risks for €1.8 million.

30/09/2020

30/09/2019

Non-current

Current

Total Non-current

Current

Total

(in thousands of euros)

Bonds

259,530 268,725

259,530 374,237

259,426

259,426 245,791

Borrowings from credit institutions Other borrowings and similar debt

105,512

90,923

154,868

700

700

801

801

Lease finance

4

4

1,157

1,157 2,781

Accrued interest

3,091

3,091

2,781

Bank credit balances and similar

22,532

22,532 2,999

48,676

48,676

Employee profit-sharing

2,999

2,893 1,183

2,893 1,285

Miscellaneous

270

805

1,075

102

SUBTOTAL

532,228 165,791 698,019

131,940

664,168 177,043 841,212

356,383

206,427

562,810

Lease liabilities IFRS 16

11,252

-

-

-

TOTAL

143,192

356,383

206,427

562,810

Structure of debt Fixed-rate debt mainly corresponds to bonds subscribed by CDA and CDA Financement (€260 million); the SGL of €200 million; and bank financing of €22.5 million.

The variable-rate loan includes a bank loan of €64 million as well as drawings on the NEU CP programme and short-term bank credit lines.

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Compagnie des Alpes I 2020 Universal registration document