Compagnies des Alpes // 2019 Universal Registration Document

5 FINANCIAL INFORMATION

Consolidated financial statements

The breakdown by business segment and geographic area is as follows:

REGION OR COUNTRY (in thousands of euros)

Ski areas

Leisure parks 268,873

Holdings and supports

30/09/2019

Notes

30/09/2018

FRANCE

705,448 639,109

22,153

996,474 639,801

938,281 607,361

o/w assets held under concession o/w which assets on lease fi nance

0

692

0 0

1,335

0

1,335

1,782

OTHERS (excl. France)

225,928

98

226,027

159,146

TOTAL PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS

705,448

494,801

22,251 1,222,501 1,097,427

Intangible assets

6.2 6.3

11,087

45,843

11,825

68,755

66,685

Property, plant and equipment

694,361

448,958

10,426 1,153,745 1,030,743

TOTAL PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS IN THE BALANCE SHEET

705,448

494,801

22,251 1,222,501 1,097,427

6.4

INVESTMENTS IN ASSOCIATE COMPANIES

30/09/2019

30/09/2018

(in thousands of euros)

VALUE OF SECURITIES AT BEGINNING OF REPORTING PERIOD

75,959

73,628

Change in scope of consolidation and miscellaneous

-785

-21

Net income for the period

8,863

4,471

Dividends paid

-2,026 82,011

-2,118

VALUE OF SECURITIES AT END OF REPORTING PERIOD

75,959

Compagnie du Mont-Blanc is listed on the stock market. However, given the very low liquidity and high volatility of the stock, the share price is not representative of the recoverable amount of the Group’s shareholding. Therefore, its value for the Group is assessed on the basis of its value in use (public service arrangements for Chamonix,

which have been renewed until 2053). For information purposes, the di ff erence between the stock market value of Compagnie du Mont- Blanc at 30 September 2019 and the equity value of the securities was positive at €5.7 million. On the basis of the share price at 30 October 2019, this di ff erence was positive for the same amount.

6.5

INVENTORIES

30/09/2019

30/09/2018

(in thousands of euros)

Gross amount Impairment LAND BANK Gross amount

3,534

3,534

-311

0

3,223

3,534

387

388

Impairment

-313

-313

PARKING AREAS

74

75

Gross amount

21,914

19,735

Impairment

-916

-536

INVENTORIES OF RAW MATERIALS, SUPPLIES AND GOODS

20,999 24,296

19,199 22,808

TOTAL

The land banks are mainly held by ADS (Les Arcs/Peisey-Vallandry) and SAG (Flaine). These companies develop sites for subsequent sale.

Inventories of raw materials, supplies and goods relate both to the Ski areas segment (spare parts for ski lifts) and the Leisure parks segment (shop inventories, restaurants and costumes, and waxwork production).

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Compagnie des Alpes I 2019 Universal registration document