marginal activity in the first half, down 93%

marginal activity in the first half, down 93%
marginal activity in the first half, down 93%

Compagnie des Alpes, the world leader in the operation of ski areas and manager of leisure parks including Parc Astérix, announced on Monday an unsurprising drop of 93.3% of its turnover in the first half of 2020-2021, and said to consider a capital increase.

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The turnover for the postponed fiscal year (October 2020-March 2021) amounted to 31.5 million euros against 470.5 million euros a year earlier, said a press release. The ski areas (Méribel, Tignes-Val d’Isère, Les Arcs-La Plagne …) have seen little or no activity. The turnover of ski areas therefore amounts to 2.5 million euros compared to 350.2 million during the previous financial year (-99.3%).

Most of the leisure parks (Parc Astérix, Walibi, Grévin museum, etc.) were open at the start of the Halloween period but they had to close their doors even before the end of this important commercial period and remain closed throughout the entire period. rest of the first semester. Revenue from leisure parks therefore reached 27.6 million euros compared to 103.2 million euros for the same period of the previous fiscal year (-73.3%).

New phase of development

In addition, the company presents its strategic priorities for the coming year in order to “Consolidate its leadership position” and opens a new phase of development. The group was able to preserve its liquidity during the crisis through various measures (cost and investment adjustments, loan guaranteed by the State, mobilization of partial compensation for fixed costs aimed at compensating ski lift operators, obtaining Bank and bond waivers …)

But it also plans to carry out a capital increase with maintenance of preferential subscription rights for an amount of approximately 230 million euros. “This transaction would be launched subject to market conditions and the approval of the prospectus by the AMF”, specifies the press release. Compagnie des Alpes has already received the support of its main shareholders who have indicated their intention to participate in the transaction. “When I leave my operational functions, I am delighted that the company is in working order, that we have a «attack plan» and ambitious recovery including the project to strengthen our balance sheet which will provide us with the means to finance it ”, declared Dominique Marcel, Chairman and CEO of Compagnie des Alpes, which is due to hand over to Dominique Thillaud on Tuesday.

Source

marginal activity

 
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