Compagnie des Alpes // 2020 Universal Registration Document

A key player in the European leisure sector, Compagnie des Alpes operates a leading portfolio of ski areas and leisure parks. The intrinsic quality of its assets, the expertise of its teams and the agility that the Group has demonstrated have enabled it to limit the impact of the health crisis.

How did Compagnie des Alpes navigate the year in 2019/2020?

The fiscal year had started very well, with growth in business in line with that of previous years. At the time of the closure of our sites in mid-March, ski area activity was up by around 2.5% and leisure park activity was up 12% on a like-for-like basis. We were then strongly penalised by the first lockdown in the spring, then by the health context in which activity was finally able to resume. By demonstrating rigour and agility, we were able to offset 36% of the decrease in our annual revenue with savings in operating expenses. In order to protect our liquidity position, we have also adjusted our capital expenditure by around €30 million compared to our initial budget. Lastly, we succeeded in securing our financing with, in particular, the establishment of a State-Guaranteed-Loan in June. I would like to recognise the extraordinary responsiveness of our teams. They did a tremendous job in being able to welcome our visitors in safe conditions last summer. Compagnie des Alpes demonstrated both its sense of responsibility, by actively participating in the development of adapted health and safety measures, and its ability to continue to offer its customers wonderful experiences, as indicated by the satisfaction scores that our leisure parks earned from visitors.

Dominique MARCEL, Chairman and Chief Executive Officer

4,315 AVERAGE ANNUAL NUMBER OF EMPLOYEES

10 SKI AREAS IN THE FRENCH ALPS

13 LEISURE PARKS INCLUDING 7 OUTSIDE FRANCE

More than € 1 billion IN INVESTMENTS SINCE 2014

Compagnie des Alpes I 2020 Universal registration document 2