Compagnie des Alpes // 2020 Universal Registration Document

5 FINANCIAL INFORMATION

Consolidated financial statements

By type, the right-of-use assets break down as follows:

At 30/09/2020

At 01/10/2019

Change of scope

Translation adjustments Other

Increase Decrease Increases

(in thousands of euros)

Rights of use of the asset Land and improvements

59,039 1,598 57,142 10,535

51,107

0

0

0

-3

110,143

Ski run and trail works

1,598

Buildings, offices, shops and other spaces

4,658

0

0

-247

-62

61,491 9,848

Ski lifts

-687

Snow-making

892 224

187 293 158 131

1,079

Grooming machines

-20

497

Rides

1,619 2063

1,777 2,175

Others fixed assets

0

0 0

0 -19

SUB-TOTAL RIGHT OF USE Amortisation/depreciation of right-of-use assets Land and improvements

133,112

56,534

-687

0

-247 -104

188,608

0

-4,499

0

0

0

-4,499

Ski run and trail works

-105

-105

Buildings, offices, shops and other spaces

0

-10,134

0

43

65

-10.026

Ski lifts

-945 -135 -161 -344 -423

-945 -135 -141

Snow-making

Grooming machines

20

Rides

-1,133

-1,477

Others fixed assets

-406

0

0

19

-810

SUBTOTAL DEPRECIATION AND AMORTISATION

-1,539

0

0 -16,746

0 0

43 104

-18,138 170,470

NET AMOUNT

131,573

56,534

-687 -16,746

-204

0

The impact on the consolidated income statement breaks down as follows: l On the Group’s income statement:

30/09/2020

30/09/2019

Published IFRS 16 impact Without IFRS 16

Published 232,292 105,106

(in thousands of euros)

EBITDA

93,775

13,695 1,064 -2,618

80,080

Net operating income Net financial income

-105,861

-106,925

-12,552

-9,934

-8,270

l On the EBITDA of business lines:

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

EBITDA (gross operating income) (in thousands of euros)

PUBLISHED EBITDA

123,258 165,523

1,155 8,099 -6,944

97,020 -30,638 -30,251

93,775 232,292

IFRS 16 impact

4,026

1,570

13,695

EBITDA WITHOUT IFRS 16

119,232 165,523

97,020 -32,208 -30,251

80,080 232,292

The amounts recognised in the income statement for the year in respect of leases and concession contracts are as follows:

At 30/09/2020

(in thousands of euros) Variable rent leases

-5

Short-term or low-value asset lease contracts

-5,336 -8,456 -16,746 -2,618 -33,161

Variable fees for concession contracts

Amortisation and impairment of right-of use assets

Interest on lease liabilities

TOTAL

Definition of a lease A contract is, or contains, a lease if it grants the right to use an underlying asset for a specified period, in exchange for consideration. At the date of entering into a lease, the Group determines whether it meets the following two cumulative conditions to qualify as a lease: its performance depends on the use of an identified asset and it confers the right to control this identified asset.

Variable leases correspond to the contracts of certain sites whose payments are indexed to the future performance of the site. The Group does not anticipate any significant change in its variable lease expense in future periods. 8.1.2 New accounting principles and methods The Group’s new accounting principles applied following the implementation of IFRS 16 are presented below.

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Compagnie des Alpes I 2020 Universal registration document