Compagnies des Alpes // 2019 Universal Registration Document

5 FINANCIAL INFORMATION

Parent company financial statements

5.4.2 NOTES TO THE PARENT-COMPANY FINANCIAL STATEMENTS These additional notes to the parent-company fi nancial statements of Compagnie des Alpes SA for the 12-month period ended 30 September 2019 contain additional information on the balance sheet (total assets of €902,170 thousand) and the income statement of 14,592 thousand.

C NTENT

NOTE 5 OFF-BALANCE SHEET COMMITMENTS

176

NOTE 1 KEY EVENTS DURING THE FISCAL YEAR

170

NOTE 6 EVENTS AFTER THE REPORTING DATE

176

NOTE 2 ACCOUNTING PRINCIPLES, RULES AND POLICIES

170

NOTE 7 EARNINGS AND OTHER KEY INFORMATION OVER THE PAST FIVE REPORTING PERIODS

176

NOTE 3 NOTES RELATING TO THE BALANCE SHEET

171

NOTE 4 NOTES RELATING TO THE INCOME STATEMENT

175

Note 1

Key events during the fiscal year

In March 2019, Compagnie des Alpes acquired a 94.9% stake in Familypark GmbH for €48.6 million.

Note 2

Accounting principles, rules and policies

in question, estimated realisable value, etc.). Impairment may be recognised when the valuation (based on a number of valuation factors) is lower than the cost price. Loans, deposits, and other capitalised receivables are measured at their nominal value minus any impairment losses depending on their recoverable nature. RECEIVABLES Receivables are measured at their nominal value. Impairment is recognised when the net asset value falls below the book value. POST-EMPLOYMENT BENEFITS The obligations of Compagnie des Alpes with respect to post- employment bene fi ts are measured and recognised o ff balance sheet. The calculation method complies with the Company’s collective arrangements that came into force on 1 July 2009. The obligation is calculated on the basis of current salaries ( fi xed salary and bonuses), including bene fi ts to be paid when employees retire, and taking into account seniority at retirement date. The assumption of voluntary retirement at the age of 62 was taken as the most probable. The benefits reflect a number of coe f ficients and assumptions (anticipated life expectancy, changes in the bene fi t calculation basis, in fl ation, etc.). The discount rate is based on the performance of the 10-year iBOXX and amounts to 0.5% per annum for the fi scal year ended 30 September 2019 (1.55% at 30 September 2018). 2.4 2.5

The annual fi nancial statements are presented in accordance with the generally accepted accounting principles in France. The basic method used to measure assets and liabilities was the historical cost method. The main policies applied are as follows: INTANGIBLE ASSETS Software is amortised on a straight-line basis over one to three years. PROPERTY, PLANT AND EQUIPMENT Depreciation is calculated on the basis of the estimated useful lives of the various types of assets. Property, plant and equipment are measured at acquisition cost. The useful lives are as follows: l General installations 10 years l Equipment (vehicles, o ffi ce and computer equipment) 3 to 5 years l O ffi ce furniture 5 to 10 years Shareholdings are recognised at acquisition cost. The acquisition costs of shareholdings included in the cost of securities are subject to accelerated straight-line amortisation over fi ve years. Shareholdings are tested annually for impairment, on the basis of a number of valuation factors (net assets, growth prospects determined in relation to the medium-term business plans of the companies 2.1 2.2 2.3 NON-CURRENT FINANCIAL ASSETS

170

Compagnie des Alpes I 2019 Universal registration document