Compagnie des Alpes // 2021 Universal Registration Document

5 FINANCIAL INFORMATION

Consolidated financial statements

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

30/09/2021 30/09/2020 Published IFRS 16 impact Without IFRS 16 Published IFRS 16 impact

Without IFRS 16

(in thousands of euros)

Earnings Before Interest, Taxes, Depreciation and Amortisation

70,568

13,636 2,806 -3,733

56,932

93,775

13,695

80,080

Net operating income Net financial income

-124,400

-127,206 -16,594

-105,861

1,064

-106,925

-20,327

-12,552

-2,618

-9,934

l On the EBITDA of business lines:

Ski areas Total 30/09/2021 30/09/2020 30/09/2021 30/09/2020 30/09/2021 30/09/2020 30/09/2021 30/09/2020 Leisure parks Holdings and supports

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

PUBLISHED EBITDA

74,706 123,258

27,505

1,155 -31,643 -30,638

70,568 13,636 56,932

93,775 13,695 80,080

IFRS 16 impact

3,979

4,026

8,058

8,099

1,599

1,570

EBITDA WITHOUT IFRS 16

70,727 119,232

19,447

-6,944 -33,242 -32,208

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

At 30/09/2021

At 30/09/2020

(in thousands of euros) Variable rent leases

-

-5

Short-term or low-value asset lease contracts

-5,474

-5,341 -8,456 -16,746

Variable fees for concession contracts

-495

Amortisation and impairment of right-of use assets

-11,387

Interest on lease liabilities

-3,733

-2,618

TOTAL

-21,089

-33,161

(negative variable rent), and not spreading it over the residual term of the contract. The right of use is not impacted and its amortisation continues without change. This amendment only concerns reductions in rents related to Covid-19 which meet the following three cumulative conditions: l the change in lease payments results in the revised lease consideration being substantially the same as, or less than, the lease consideration immediately prior to the change; l if there is a reduction in rent payments, this only applies to payments originally due no later than 30 June 2022; l there must be no substantial change in the other terms and conditions of the contract. This exemption is an accounting option that must be applied consistently to contracts with similar characteristics and in similar circumstances (or to all contracts). Its application is retrospective. In application of this amendment, the reduction in the rent of the Chaplin’s World Museum granted by the lessor was recognised as a €355-thousand rent reduction on income for the period.

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.

8.2

AMENDMENT TO IFRS 16 “COVID-19-RELATED RENT CONCESSIONS”

The amendment to IFRS 16 “Covid-19-Related Rent Concessions” was adopted by the EU on 9 October 2020 (EU regulation no. 2020/1434) and is to be applied no later than 1 June 2020 for financial years beginning on or after 1 January 2020. This amendment to IFRS 16 only allows tenants (and not lessors) to choose to apply a practical simplification measure. This accounting option only offers tenants the option to assess whether a reduction in rents linked to Covid-19 is a contract modification. In practice, the application of the amendment leads tenants to recognise the reductions in rents linked to Covid-19 as if they were not a modification of the contract. This amounts to recognising the impact of the reduction in rent on the tenants’ income for the period

187

Compagnie des Alpes I 2021 Universal registration document