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Shareholders' meeting - 16 September 2021

Topic discussed : Strong business recovery for leisure parks over the summer, Launch of Travelski Express, Acquisition of Evolution 2, a network of schools and outdoor activities and Closure of Grévin Montréal
 
On the occasion of today’s Combined General Shareholders’ Meeting, the Group will offer an update on its activities:
- Strong business recovery for leisure parks over the summer
- Launch of Travelski Express
- Acquisition of Evolution 2, a network of schools and outdoor activities
- Closure of Grévin Montréal
 
 
Paris, September 16, 2021 – Today at 3 pm, Compagnie des Alpes is holding its Combined General Shareholders’ Meeting. Due to the ongoing public health situation, the meeting will be held behind closed doors and streamed live on the company’s website. It will be accessible for viewing online at the following address: https://www.compagniedesalpes.com/assemblees-generales

On this occasion, seven resolutions will be submitted to the shareholders and put to a vote, the majority of which relates to the contribution by the Caisse des Dépôts of approximately 24% of the capital of the Société du Parc Futuroscope.

Dominique Marcel, Chairman of the Board of Directors, Dominique Thillaud, CEO, and Loïc Bonhoure, Deputy CEO, will also comment on the strong business recovery in July and August, the launch of the Travelski Express offering, the acquisition of Evolution 2 (a network of schools and outdoor activities), and the closure of Grévin Montréal.

More robust than expected recovery in July and August

When it released 3rd quarter sales information on July 22, 2021, Compagnie des Alpes indicated that its Leisure Parks division had been improving from week to week since the staggered reopening between May and June and the end of the quarter, and that sales were proving to be more dynamic than for the same period last year.

The Group also indicated that the level of activity had continued to accelerate during the early weeks of July, approaching that for the same period in financial year 2018/2019.

Conversely, the Group explained that it was unable to anticipate the impact that the implementation of the vaccine passport, effective July 21, 2021, for French sites would have on visitor attendance. The Group also indicated that its Belgian sites, Walibi Belgium and Aqualibi, impacted by severe flooding, were forced to close their doors to visitors on July 15, 2021, and that, given the severity of the damage, it was not possible to give guidance on a reopening date.

In France, although the vaccine passport initially impacted the recovery in visitor attendance, the impact on global attendance was in fact limited. In Belgium, the Walibi Belgium and Aqualibi sites remained closed as expected. In a normal season, these two sites would account for about 12% of total sales for Leisure Parks in the 4th quarter. Accordingly, corrected for the impact of the closure of the two Belgian sites, sales were slightly higher than for the months of July and August in 2019, thanks to a healthy level of spend per visitor and despite the vaccine passport and disappointing weather conditions.

The Walibi Belgium site will reopen in early October for the Halloween season and Aqualibi is expected to reopen its doors to visitors in early 2022.

For its Ski Areas, the Group enjoyed healthy levels of attendance during the summer period and, for ski lifts, expects sales of around €4 million for the 4th quarter.

Launch of Travelski Express

Consistent with the strategic orientations announced on June 1st and in particular the desire to stimulate recovery and implement ambitious environmental objectives (zero net carbon in 2030), the Group announced on September 10, 2021, that it had signed an agreement with Eurostar to relaunch direct rail service between London-Saint Pancras and Moûtiers – Bourg-Saint-Maurice. This offering, marketed under the name Travelski Express, will be proposed by Travelski, a wholly owned subsidiary of Compagnie des Alpes, as part of the dynamic package deals that combine transportation, shuttle service, and ski passes.

Acquisition of Evolution 2, a network of schools and outdoor activities

Compagnie des Alpes announces today that it has finalized the acquisition of the Evolution 2 brand and a 60% majority stake in the capital of the 10 companies under Evolution 2 license and located in the French Alps, including 5 that are present at the Group’s ski resorts.

The 10 companies acquired by Compagnie des Alpes together represent sales of around €5 million. Evolution 2 is fully consolidated as of the beginning of August 2021. The remaining 40% of the companies' capital is subject to put and call options exercisable in 5 years.

The acquisition of Evolution 2 is fully consistent with the strategic priorities presented by the Group last June, in particular its desire to further diversify and develop summer activities in the mountains.

Closure of Grévin Montréal

Compagnie des Alpes also announces today its decision to terminate the lease for the space in which Grévin Montréal is located and to end this activity, which suffered a decline in attendance during the Covid-19 health crisis, further weakening the prospect of achieving economic balance. Grévin Montréal accounts for full-year sales of €1 million (base: financial year 2018/2019). The Group specifies that a total writedown of Grévin Montréal’s assets was taken in its financial statements.

Upcoming events in 2020/2021:
  • Annual General & Special Shareholders’ Meeting:     Thursday, September 16th
  • Annual Sales:                                                              Thursday, October 21st, after market
  • Annual Results:                                                           Tuesday December 7th, before market

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