Compagnies des Alpes // 2019 Universal Registration Document

5 FINANCIAL INFORMATION

Consolidated financial statements

6.3 PROPERTY, PLANT AND EQUIPMENT (DIRECTLY OWNED AND CONCESSION) Property, plant and equipment break down as follows:

Changes in the scope of consolidation Other

At 30/09/2019

At 30/09/2018 Acquisitions Subsidies Disposals Increases Reversals

(in thousands of euros)

Gross amount Land and improvements Ski run and trail works

49,398 126,448 175,762

1,289 1,532 2,779

-55

28,563

208

79,403

-4,405

3,009 126,584

Snow-making

7,667

186,208

Buildings, o ffi ces, shops, other spaces

416,525 869,378

16,723 20,593

-5,806 -12,374 -4,536 -2,741 -5,146

2,555 12,186 442,183

Ski lifts

61,833

939,430

Grooming machines

46,991

7,914

484

50,853

Rides

402,299 157,935

36,302

4,109 439,969

Materials and equipment

17,251

29,616 8,428 208,084

Other items of property, plant and equipment Property, plant and equipment in progress Advances and down-payments on non-current assets SUBTOTAL: GROSS AMOUNT Amortisation, depreciation Land and improvements

80,015

5,848 -4,855 -2,199

13,538

92,347

118,976 98,586

-527

367 -106,731

110,671

700

1,173

-213

1,660

2,444,426 209,990 -4,855 -37,789

61,101 4,518 2,677,391

-20,446 -62,107 -116,657

-1,353

-12,539

-34,338 -60,868 -123,604

Ski run and trail works

-3,041 4,280

Snow-making

-6,947

Buildings, o ffi ces, shops, other spaces

-245,351 -517,743

-17,556 5,308 -36,993 11,655 -7,019 4,358 -19,450 2,660 -21,012 5,000

-11,116 3,598 -265,117

Ski lifts

-2 -543,083

Grooming machines

-31,187

-1

-33,849

Rides

-219,644 -128,034

-95 -236,530

Materials and equipment

-3,051 -3,912 -151,008

Other items of property, plant and equipment SUBTOTAL: DEPRECIATION ANDAMORTISATION Gross amount of directly-owned assets Depreciation of directly-owned assets NET AMOUNT OF DIRECTLY- OWNED ASSETS NET AMOUNT

-72,515

-5,175 2,472

-30

-75,248

-1,413,684

-118,547 35,733 -26,706 -442 -1,523,645

1,030,743 209,990 -4,855 -37,789 -118,547 35,733

34,395 4,076 1,153,746

1,059,837

116,982

-947 -20,076

61,101

3,423 1,220,320

-636,456

-62,138 19,178

-26,706 -254 -706,375

423,382 116,982 -947 -20,076 -62,138 19,178

34,395 3,169 513,945

Gross amount of concession assets 1,384,589 93,009 -3,909 -17,713

1,095 1,457,071 -188 -817,270

Depreciation of concession assets NET AMOUNT CONCESSION ASSETS

-777,228

-56,409 16,555

607,361

93,009 -3,909 -17,713 -56,409 16,555

907 639,801

NET AMOUNT

1,030,743 209,991 -4,856 -37,789 -118,547 35,733

34,395 4,076 1,153,746

Gross investments for the period amounted to €210 million and mainly break down as follows: l in the Ski areas segment (€105 million), this related to the completion of capital expenditure programmes prior to the 2018/2019 winter season and to the initial work for the 2019/2020 season. They mainly correspond to investments relating to the development of Ski areas (ski run and trail works, ski lifts and arti fi cial snow); l in the Leisure parks segment (€102 million), this breaks down into investments to step up appeal (€69.8 million) and investments for maintenance and miscellaneous investments (€33.2 million);

l the column “Changes in scope” takes into account the acquisition of the Austrian park Familypark; l lastly, the “Other” column mainly includes the allocation of non- current assets in progress at 30 September 2019, scrapped items and translation adjustments. Amortisation and depreciation include an impairment charge of €3 million relating to two sites abroad, as well as accelerated depreciation of property, plant and equipment to re fl ect their fair value.

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Compagnie des Alpes I 2019 Universal registration document