Compagnies des Alpes // 2019 Universal Registration Document
5 FINANCIAL INFORMATION
Consolidated financial statements
5.9 OPERATING ROCE For 2018/2019, the reconciliation between the Group ROCE and the operating ROCE was as follows:
Ski areas and Leisure
parks Rest of the Group
Group total
Net operating income
123,703 -41,230 82,473
-18,597
105,106 -35,032
Theoretical tax (at 33.33%) After tax net operating income Assets used excluding goodwill SEGMENT OPERATING ROCE
6,198
-12,399 -15,431
70,074
1,011,934
996,503
8.2%
7.0%
324,158
7,354
331,512
Goodwill
Total assets used (including goodwill )
1,336,092
-8,077
1,328,015
GROUP ROCE
5.3%
Note 6
Information on the consolidated balance sheet
6.1 GOODWILL Net goodwill breaks down as follows:
Gross amount
Impairment
Net amount
(in thousands of euros)
AT 30/09/2017
296,018
-13,063
282,955
Changes in the scope of consolidation
11,180
0 0
11,180
Other changes AT 30/09/2018
0
0
307,198
-13,063
294,135
Changes in the scope of consolidation
41,203 -3,826
0 0
41,203 -3,826
Other changes AT 30/09/2019
344,575
-13,063
331,512
The acquisition of the Travelfactory sub-group generated a fi rst-time consolidation di ff erence of €11.2 million, the allocation of which was determined as follows:
Travelski and Locatour brands
1,746 2,637
Customer relations
Other adjustments to Fair Value
616
Deferred taxes
-1,173 3,826 7,354 11,180
SUB-TOTAL ALLOCATED
Residual goodwill
FIRST-TIME CONSOLIDATION DIFFERENCE
Customer relations are amortised over a period of 10 years. At 30 September 2019, net goodwill was distributed by major Group business units, as follows.
30/09/2019
30/09/2018
(in thousands of euros)
Ski areas
132,155 192,003
132,155 150,800
Leisure parks
Holdings and supports
7,354
11,180
TOTAL
331,512
294,135
The acquisition of the Austrian park Familypark generated goodwill of €41.2 million, which remains provisional given the 12-month allocation period.
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Compagnie des Alpes I 2019 Universal registration document
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