Compagnie des Alpes // 2020 Universal Registration Document

INTERACTIONS WITH ECOSYSTEMS

As it operates the ski lifts, but also most often the ski slopes, Compagnie

COOPERATE WITH ALL MOUNTAIN STAKEHOLDERS

des Alpes works with all the players in the resorts. Around 40% of the clientele of these resorts is foreign (mainly UK, Belgium and the Netherlands).

Most of the Group’s revenue is concentrated during the four to five months of winter, while investments in equipment are mainly made outside this period.

THE SPECIFIC FRAMEWORK FOR PSC*

from government bodies (DREAL, DDT, STRMTG, etc.) or local authorities, as well as the opinions of local associations. The Group’s companies play an active role within the inter-professional chamber Domaines Skiables de France (DSF). POSITION IN THE VALUE CHAIN The sale of ski passes is either done directly, or through intermediaries such as major accommodation providers, tourism professionals or tour operators. 2020/2021 SEASON Faced with the uncertainties related to the evolution of the Covid-19 epidemic, the mountain ecosystem as a whole has been put into working order for the 2020/2021 season. Protocols were drawn up with all stakeholders to organise reception at resorts and the operation of the ski areas under the strictest health conditions. Compagnie des Alpes has adapted its commercial conditions (cancellation and reimbursement) to maximise the ease of its customers. Finally, a health guide was drawn up with all the professional players in the sector, the inter-professional chamber of the Domaines Skiables de France (DSF) and representatives of elected officials under the aegis of the prefects. Nevertheless, on 20 January 2021, the public authorities announced that the ski lifts would remain closed throughout the winter school holidays and, probably, until the end of the season.

The management of operations is entrusted to Group companies through Public Service Concessions (PSC) granted by the local authorities and running for several decades. A ski area may operate under several PSCs. INVESTMENTS Dedicated to ski lifts, the development of ski areas and slopes, the production of artificial snow and grooming equipment, the investments made by Compagnie des Alpes contribute to the attractiveness of the resorts and improve the ski offerings as well as enrich the customer experience. They are instrumental for the renewal of PSC contracts. In return, Compagnie des Alpes receives, on the basis of an approved price list, the proceeds from the sale of ski passes, which account for almost all of the revenue of Compagnie des Alpes’ ski areas. REAL ESTATE ASSETS OF THE RESORTS The Groupworks on accommodation, adopting a facilitator and occasionally an investor role with a view to increasing the amount and quality of tourist accommodation, and its occupancy rate. Furthermore, to boost the marketing of accommodation in the resorts, the Group has a network of real estate agencies. SPECIFIC STAKEHOLDERS The Group’s companies work in close collaboration with specific stakeholders, such as local authorities, tourist offices, accommodation providers, ski schools, public transport services, and property owners. The activities and facilities are mainly based in public areas and in natural areas. Projects are subject to procedures and authorisations

*

PSC: Public Service Concession.

Compagnie des Alpes I 2020 Universal registration document 8