Compagnies des Alpes // 2019 Universal Registration Document

5 FINANCIAL INFORMATION

Consolidated financial statements

8.2

HEADCOUNT

2018/2019

2017/2018

Average headcount France Others (excl. France)

4,351

4,185

883

766

TOTAL AVERAGE HEADCOUNT

5,234

4,951

At 30 September 2019, headcount broke down as follows: l Ski areas 18.6%; l Leisure parks 75.8%; l Holdings and supports 5.6%. 8.3 OFF-BALANCE SHEET COMMITMENTS Operating leases and leasing contracts The CDA Group’s lease commitments at 30 September 2019 were as follows:

< 1 year

From 1 to 5 years

> 5 years

Total

(in thousands of euros)

Rent

12,532

43,994

80,513

137,040

Other commitments

30/09/2019

30/09/2018

(in thousands of euros)

Sureties and endorsements Liability guarantee given

454

10,398 11,216 3,449 25,745 50,808

11,086

Acquisition of non-current assets

-

Other

24,788 36 328

COMMITMENTS GIVEN Liability guarantee received

1,550

1,550

Sureties received

10,504

13,291

Other

0

0

COMMITMENTS RECEIVED

12,054

14,841

The commitments given mainly relate to: l the real estate commitments of the Deux Alpes Loisirs Group: its subsidiary SC2A (formerly Deux Alpes Voyages) provided a guarantee to cover up to €5.0 million in current lease payments; l €2.1 million from the funding approval given by CDA Financement to SAP Invest, SAP Location and Panoramic; l in the context of the creation of real estate companies to stimulate the refurbishment of the real estate assets of our resorts, the ski lift companies provide investors with guaranteed rents during the refurbishment period, and then to put them back on the market. At 30 September 2019, these commitments amounted to the relatively low fi gure of €12.4 million, given the number of transactions currently being carried out; l a liability guarantee granted to Looping Deutschland GmbH during the sale of Fort Fun in the amount of €1 million until 2026; l two parent-company guarantees at first request amounting to €10.1 million given to the City of Paris for Jardin d’Acclimatation, the fi rst for €9.1 million in relation to the operating fee until 2041, and the second for €1 million in relation to the execution of the contractual investment programme until 2024; l a bank guarantee and parent company guarantee at fi rst request of CHF750 thousand, given for the By Grévin site; l the commitments received primarily relate to: l a €1.6 million liability guarantee received on the acquisition of Travelfactory,

l guarantees of €7.1 million given to ADS on land deals, l a bank guarantee received by STVI to cover the future payment of a transactional indemnity of €1.2 million relating to the restaurant Tête de Solaise, l sureties received from suppliers for €1 million as part of the construction work of a new hotel in Parc Astérix, l a surety received on the tourist service guarantees for Futuroscope Destination in the amount of €1.2 million, l when acquiring Futuroscope (in January 2011), the sellers provided Compagnie des Alpes with representations and warranties indemnifying it in the event of inspection by tax, para fi scal, social, customs, social security, and other bodies. These representations and warranties remain in force until the corresponding legal and regulatory terms expire; l as part of the Travelfactory purchase, the parties granted each other put and call options on the balance of Travelfactory shares for a total maximum amount of €5.3 million, over a period of 4 years. l Moreover, under the various contracts signed by the Compagnie des Alpes Group, the subsidiaries may enter into agreements on investment budgets. Such agreements are variable and can be reviewed, mainly with regard to their term, amount and nature, depending on the contract and implementation opportunities. In light of certain lease contracts signed by the Leisure Destinations, these investment budget agreements may concern all of the Group’s subsidiaries.

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Compagnie des Alpes I 2019 Universal registration document