Compagnie des Alpes SA
Compagnie des Alpes SA
10/20/2022 | Press release | Distributed by Public on 10/20/2022 09:51
Sales for financial year 2021/22 Up by 17.8% over financial year 2018/19 Net...
Consolidated sales for Compagnie des Alpes for the 4th quarter of financial year 2021/22 reached €213.9 million. The sales dynamic observed since the beginning of the financial year for the Leisure Parks division continued over the summer season. Group sales for the 4th quarter rose by 17.9% compared with the same period in financial year 2018/19 (adjusted for the disposal of the 2 Alpes ski resort), the last financial year that was not impacted by the consequences of the health crisis, and by 24.5% versus the 4th quarter of 2020/2021.
4th quarter: Consolidated sales, July 1, 2022, through September 30, 2022
For the financial year as a whole, Compagnie des Alpes reports consolidated sales of €958.5 million, an increase of 17.8% compared with financial year 2018/19 (adjusted for the removal of the Les 2 Alpes ski resort). Please note that for financial year 2021/2022, the contribution of Leisure Parks to the Group's annual sales exceeds that of the Ski Area division.
Annual total: Consolidated sales from October 1, 2021, through September 30, 2022
The table above shows sales for financial year 2021/2022 and annual sales for the three previous financial years, adjusted for the Les 2 Alpes ski resort. Comparisons with 2020/2021, which were substantially impacted by the closure of sites in late October of 2020, are not relevant. The same is true for comparisons with financial year 2019/2020, due to the total shutdown of sites as of mid-March of 2020. In the table above and in the commentary presented below, the Group thus draws a comparison with financial year 2018/2019, the most recent fully completed financial year pre-Covid.
Ski Areas
All the data contained in this section that pertain to financial year 2018/19 have been adjusted for the removal from consolidation of the Les 2 Alpes ski resort.
For the Ski Area division, sales for the 4th quarter represent only about 1.8% of annual sales. For financial year 2021/22, sales totaled €8.2 million, versus €4.4 million for the same period in 2018/19. For this period, sales include Evolution 2, which was not part of the group in 2018/19. The positive dynamic of outdoor activities (mountain karts, zip lines) this past summer offset the early closure of the Tignes glacier.
For the financial year as a whole, Ski Area sales reached €455.5 million, an increase of 12.8% compared with financial year 2018/19. Lift sales were €432.3 million (i.e., 95% of total sales for this business unit). The increase in lift sales for the year was 10.0% versus 2018/19.
Sales were especially dynamic throughout the ski season, as the attractivity of the ski resorts was further reinforced thanks to investments the Group has maintained since the beginning of the health crisis. Adversely impacted early in the season by the absence of British clients (until January 2022) due to the health crisis, the number of skier-days improved steadily thereafter, ending down by only 3.5% for the year compared with financial year 2018/19. The total for financial year 2021/22 came in at 12.305 million, versus 12.757 million in 2018/19.
The increase in sales from lift tickets was, accordingly, driven by the rise in revenue per skier-day, up by more than 13% compared with financial year 2018/19 thanks to a combination of the Group's business development efforts, a less intermediated client mix (related in particular to the absence of British clients in December and January), and to the cumulative effect of annual rate adjustments since 2018/19.
Leisure Parks: more than 10 million visitors welcomed over the period
The Leisure Parks division continued to perform exceptionally well throughout the summer season, an extension of the momentum on display since the beginning of the financial year. Sales reached €204.9 million in the 4th quarter of financial year 2021/22, which represents an increase of 20.4% compared with the same period in reference year 2018/19 and an increase of 27.1% compared with the 4th quarter of last year.
For financial year 2021/22, Leisure Park sales totaled €468.5 million. This 23.1% increase compared with financial year 2018/19 reflects both the 6% rise in attendance, which came to more than 10 million visitors, and an increase in spend per visitor of around 17%.
Sales were lifted by an extremely dynamic sales strategy. The optimization of sales tunnels, via an increase in the digital share of sales, streamlined management of promotions, and a sustained media presence maintained throughout the year led to a higher transformation rate and an increase in the average basket. In-park sales also rose across the board (restaurants, shops, hotels), thanks to marketing initiatives and/or the opening of new points of sale.
Sales were especially brisk for sites that were the beneficiaries of the most substantial investments in attractivity in recent years, such as Parc Astérix, Walibi Rhône-Alpes, and Walibi Belgium. Despite the health crisis, all sites benefited from an enhanced offering that was applauded by both visitors and industry professionals.
The ongoing effort surrounding Very High Satisfaction (VHS) of visitors continues to bear fruit. Satisfaction scores have globally exceeded the level attained in 2019 and, as an example, those pertaining to the Value for Money ratio are up for every site, even though both attendance and spend per visitor have also risen.
In addition, during the annual Iaapa Expo Europe for European attractions industry professionals, Futuroscope was awarded three times. Its new attraction Tornado Chasers was voted best sensation attraction and received the innovation award. Its new theme-based hotel, Station Cosmos, was given the award for the best eco-friendly initiative. The new Biberburg attraction at Familypark in Austria also won an award for best attraction. Lastly, Parc Astérix's roller coaster was deemed the best in the limited budget category, for its Tonnerre 2 Zeus attraction.
Holdings & Support
For financial year 2021/22, Holdings & Support sales rose by 17.1% compared with reference year 2018/19, reaching €34.6 million. Mountain real estate agency revenues have been included in sales for this business unit since the start of this financial year.
Throughout the year, Travelfactory sales maintained a very satisfactory level, with respect to both French clients and the Group's key international client markets: the United Kingdom, the Netherlands, and Belgium. The rail link between London and Moûtiers/Bourg-Saint-Maurice inaugurated this year will be repeated in financial year 2022/23.
The comparability of 4th quarter sales is penalized by the fact that Travelfactory has reoriented its strategic priorities in 2021/22, shifting away from its camping business, which was basically summer only, to focus on its Mountain activities. The elimination of the camping business represents a loss of €5.7 million in sales based on 2018/19 figures.
Outlook: landing financial year 2021/22
Given the sales generated in financial year 2021/22, EBITDA should be higher than the level achieved in reference year 2018/2019. The Group expects that the impact of higher energy costs on its annual results for financial year 2021/22 will be relatively minor, in line with the impact reported on its interim financial disclosures.
The Group had indicated that it expected the annual net investment level to be around €160 million for financial year 2021/22, while reserving the possibility of taking advantage of additional investments in targeted areas, specifically those that could have a positive impact on EBITDA as of 2023. The Group is now able to specify that the annual net investment budget should come in at around €175 million.
In addition, the Group confirms that its financial gearing should be well below 3.0x.
Initial items concerning financial year 2022/23
Continuing to optimize the operation of its sites by expanding its opening periods, the Group will again this year capitalize on the successful opening of Parc Astérix to the public during the Christmas holidays. For the first time, the sites de Walibi Rhône-Alpes and Walibi Belgium will be open during this period, with a thematic offering rolled out especially for the occasion.
The cost, for calendar year 2023, will be significantly higher than that observed for 2022. However, the economic impact is expected to be partly blunted by the combined effect of (i) an ambitious policy regarding further lowering energy consumption (without impacting the level of service offered to skiers), (ii) additional rate adjustments on gate price for our sites, (iii) government measures, including a redistribution of the proceeds of the exceptional tax on electricity producers. To date, the residual exposure, potentially significant, is not expected to jeopardize the Group's trajectory with respect to investments, positive free cash flow from operations targets and, of course, its business growth.
[1]ARENH: Accès Régulé à l'Electricité Nucléaire Historique
Net Carbon Neutrality Path Approved
During its capital increase in June of 2021, the Group communicated on its plans to reach Net Carbon Neutrality (scope 1 and 2) for each of its sites by 2030 at the latest.
Since then, the Group has made great strides in drawing up a set of concrete actions that will enable it to achieve this goal. These actions will be disclosed in detail during a dedicated presentation on CSR that will be held before the end of 2022. Already, the Group can offer the following items:
Group GG emissions (figures smoothed (2) - scope 1 and 2): Past data and future projections
(1) The "absolute contraction approach" trajectories SBTi 1.5° and Well Below (WB) 2°C are compatible with the objectives of the Paris Agreements. Reduction of 4.2% min. per year for a "1.5°C" alignment, of 2.5% min. per year for an alignment with the "Well Below 2°C" objective.
(2) Data by fiscal year (base year 2019 = fiscal year 2018/19)
Ski Areas (reduction + local capture)
(2) The "absolute contraction approach" trajectories SBTi 1.5° and Well Below (WB) 2°C are compatible with the objectives of the Paris Agreements. Reduction of 4.2% min. per year for a "1.5°C" alignment, of 2.5% min. per year for an alignment with the "Well Below 2°C" objective.
In relation to skier-days forecast in the MTP, emissions decrease rapidly, by a factor of X4 by 2026
(1)Source : Food GES (ADEME)
Leisure Parks (reduction + local capture)
(2) The "absolute contraction approach" trajectories SBTi 1.5° and Well Below (WB) 2°C are compatible with the objectives of the Paris Agreements. Reduction of 4.2% min. per year for a "1.5°C" alignment, of 2.5% min. per year for an alignment with the "Well Below 2°C" objective.
In relation to visitors and after dark openings forecast in the MTP, emissions decrease rapidly, by a factor of x3 by 2026
(1) Source: Food GES (ADEME)
This press release contains forward-looking statements concerning the outlook and growth strategies of Compagnie des Alpes and its subsidiaries (the "Group"). These elements include indications relating to the Group's intentions, its strategies, its growth outlook and trends concerning its operating results, its financial situation, and its cash position. Although these indications are based on data, assumptions, and estimates that the Group considers to be reasonable, they are subject to numerous risk factors and uncertainties such that actual results may differ from those anticipated or implied by these indications due to multiple factors, in particular those described in the documents registered with the Autorité des marchés financiers (AMF) available on the Compagnie des Alpes website (www.compagniedesalpes.com). The forward-looking information contained in this press release reflects the guidance given by the Group on the date of this document. Unless there is a legal obligation, the Group expressly declines any commitment to update these forward-looking elements in the light of new information or future developments.
Upcoming events and releases in 2022/2023:
www.compagniedesalpes.com
The table above shows sales for financial year 2021/2022 and annual sales for the three previous financial years, adjusted for the Les 2 Alpes ski resort. Comparisons with 2020/2021, which were substantially impacted by the closure of sites in late October of 2020, are not relevant. The same is true for comparisons with financial year 2019/2020, due to the total shutdown of sites as of mid-March of 2020. In the table above and in the commentary presented below, the Group thus draws a comparison with financial year 2018/2019, the most recent fully completed financial year pre-Covid.
4th quarter: Consolidated sales, July 1, 2022, through September 30, 2022
|
Unaudited data (In € thousands) |
Q4 2021/22(1) |
Q4 2020/21(2) |
Q4 2019/20(2) |
Q4 2018/19(2) |
Change 2021/22 vs. 2018/19(2) |
|
Ski Areas
|
8 184 | 5 269 | 4 662 | 4 389 | +86.5% |
|
Leisure Parks
|
204 881 | 161 178 | 118 859 | 170 179 | +20.4% |
|
Holdings & Support
|
805 | 5 303 | 5 576 | 6 880 | -88.3% |
| Total Q4 sales | 213 870 | 171 750 | 129 097 | 181 448 | +17.9% |
- Sales for 2021/2022 include the integration of Evolution 2 in Ski Area sales, and sales for the real estate agencies in Holdings & Support.
- Adjusted for Les 2 Alpes, (€2.7 million in the 4th quarter of 2018/2019), removed from Group consolidation as of December 1, 2020.
For the financial year as a whole, Compagnie des Alpes reports consolidated sales of €958.5 million, an increase of 17.8% compared with financial year 2018/19 (adjusted for the removal of the Les 2 Alpes ski resort). Please note that for financial year 2021/2022, the contribution of Leisure Parks to the Group's annual sales exceeds that of the Ski Area division.
Annual total: Consolidated sales from October 1, 2021, through September 30, 2022
|
Unaudited data (In € thousands) |
2021/22(1) | 2020/21(2) | 2019/20(2) | 2018/19(2) | Change 2021/22 vs. 2018/19(2) |
|
Ski Areas
|
455 476 | 10 674 | 326 977 | 403 772 | +12.8% |
|
Leisure Parks
|
468 492 | 221 723 | 232 064 | 380 713 | +23.1% |
|
Holdings & Support
|
34 569 | 7 417 | 23 357 | 29 521 | +17.1% |
| Total sales (12 months) | 958 537 | 239 814 | 582 397 | 814 006 | +17.8% |
- Sales for 2021/2022 include the integration of Evolution 2 in Ski Area sales, and sales for the real estate agencies in Holdings & Support.
- Adjusted for sales from the Les 2 Alpes ski resort (€40.0 million in financial year 2018/2019), removed from Group consolidation as of December 1, 2020.
The table above shows sales for financial year 2021/2022 and annual sales for the three previous financial years, adjusted for the Les 2 Alpes ski resort. Comparisons with 2020/2021, which were substantially impacted by the closure of sites in late October of 2020, are not relevant. The same is true for comparisons with financial year 2019/2020, due to the total shutdown of sites as of mid-March of 2020. In the table above and in the commentary presented below, the Group thus draws a comparison with financial year 2018/2019, the most recent fully completed financial year pre-Covid.
Ski Areas
All the data contained in this section that pertain to financial year 2018/19 have been adjusted for the removal from consolidation of the Les 2 Alpes ski resort.
For the Ski Area division, sales for the 4th quarter represent only about 1.8% of annual sales. For financial year 2021/22, sales totaled €8.2 million, versus €4.4 million for the same period in 2018/19. For this period, sales include Evolution 2, which was not part of the group in 2018/19. The positive dynamic of outdoor activities (mountain karts, zip lines) this past summer offset the early closure of the Tignes glacier.
For the financial year as a whole, Ski Area sales reached €455.5 million, an increase of 12.8% compared with financial year 2018/19. Lift sales were €432.3 million (i.e., 95% of total sales for this business unit). The increase in lift sales for the year was 10.0% versus 2018/19.
Sales were especially dynamic throughout the ski season, as the attractivity of the ski resorts was further reinforced thanks to investments the Group has maintained since the beginning of the health crisis. Adversely impacted early in the season by the absence of British clients (until January 2022) due to the health crisis, the number of skier-days improved steadily thereafter, ending down by only 3.5% for the year compared with financial year 2018/19. The total for financial year 2021/22 came in at 12.305 million, versus 12.757 million in 2018/19.
The increase in sales from lift tickets was, accordingly, driven by the rise in revenue per skier-day, up by more than 13% compared with financial year 2018/19 thanks to a combination of the Group's business development efforts, a less intermediated client mix (related in particular to the absence of British clients in December and January), and to the cumulative effect of annual rate adjustments since 2018/19.
Leisure Parks: more than 10 million visitors welcomed over the period
The Leisure Parks division continued to perform exceptionally well throughout the summer season, an extension of the momentum on display since the beginning of the financial year. Sales reached €204.9 million in the 4th quarter of financial year 2021/22, which represents an increase of 20.4% compared with the same period in reference year 2018/19 and an increase of 27.1% compared with the 4th quarter of last year.
For financial year 2021/22, Leisure Park sales totaled €468.5 million. This 23.1% increase compared with financial year 2018/19 reflects both the 6% rise in attendance, which came to more than 10 million visitors, and an increase in spend per visitor of around 17%.
Sales were lifted by an extremely dynamic sales strategy. The optimization of sales tunnels, via an increase in the digital share of sales, streamlined management of promotions, and a sustained media presence maintained throughout the year led to a higher transformation rate and an increase in the average basket. In-park sales also rose across the board (restaurants, shops, hotels), thanks to marketing initiatives and/or the opening of new points of sale.
Sales were especially brisk for sites that were the beneficiaries of the most substantial investments in attractivity in recent years, such as Parc Astérix, Walibi Rhône-Alpes, and Walibi Belgium. Despite the health crisis, all sites benefited from an enhanced offering that was applauded by both visitors and industry professionals.
The ongoing effort surrounding Very High Satisfaction (VHS) of visitors continues to bear fruit. Satisfaction scores have globally exceeded the level attained in 2019 and, as an example, those pertaining to the Value for Money ratio are up for every site, even though both attendance and spend per visitor have also risen.
In addition, during the annual Iaapa Expo Europe for European attractions industry professionals, Futuroscope was awarded three times. Its new attraction Tornado Chasers was voted best sensation attraction and received the innovation award. Its new theme-based hotel, Station Cosmos, was given the award for the best eco-friendly initiative. The new Biberburg attraction at Familypark in Austria also won an award for best attraction. Lastly, Parc Astérix's roller coaster was deemed the best in the limited budget category, for its Tonnerre 2 Zeus attraction.
Holdings & Support
For financial year 2021/22, Holdings & Support sales rose by 17.1% compared with reference year 2018/19, reaching €34.6 million. Mountain real estate agency revenues have been included in sales for this business unit since the start of this financial year.
Throughout the year, Travelfactory sales maintained a very satisfactory level, with respect to both French clients and the Group's key international client markets: the United Kingdom, the Netherlands, and Belgium. The rail link between London and Moûtiers/Bourg-Saint-Maurice inaugurated this year will be repeated in financial year 2022/23.
The comparability of 4th quarter sales is penalized by the fact that Travelfactory has reoriented its strategic priorities in 2021/22, shifting away from its camping business, which was basically summer only, to focus on its Mountain activities. The elimination of the camping business represents a loss of €5.7 million in sales based on 2018/19 figures.
Outlook: landing financial year 2021/22
Given the sales generated in financial year 2021/22, EBITDA should be higher than the level achieved in reference year 2018/2019. The Group expects that the impact of higher energy costs on its annual results for financial year 2021/22 will be relatively minor, in line with the impact reported on its interim financial disclosures.
The Group had indicated that it expected the annual net investment level to be around €160 million for financial year 2021/22, while reserving the possibility of taking advantage of additional investments in targeted areas, specifically those that could have a positive impact on EBITDA as of 2023. The Group is now able to specify that the annual net investment budget should come in at around €175 million.
In addition, the Group confirms that its financial gearing should be well below 3.0x.
Initial items concerning financial year 2022/23
- Ski Areas
- Leisure Parks
Continuing to optimize the operation of its sites by expanding its opening periods, the Group will again this year capitalize on the successful opening of Parc Astérix to the public during the Christmas holidays. For the first time, the sites de Walibi Rhône-Alpes and Walibi Belgium will be open during this period, with a thematic offering rolled out especially for the occasion.
- Acquisition of MMV
- Evolution of electricity-related costs
The cost, for calendar year 2023, will be significantly higher than that observed for 2022. However, the economic impact is expected to be partly blunted by the combined effect of (i) an ambitious policy regarding further lowering energy consumption (without impacting the level of service offered to skiers), (ii) additional rate adjustments on gate price for our sites, (iii) government measures, including a redistribution of the proceeds of the exceptional tax on electricity producers. To date, the residual exposure, potentially significant, is not expected to jeopardize the Group's trajectory with respect to investments, positive free cash flow from operations targets and, of course, its business growth.
[1]ARENH: Accès Régulé à l'Electricité Nucléaire Historique
Net Carbon Neutrality Path Approved
During its capital increase in June of 2021, the Group communicated on its plans to reach Net Carbon Neutrality (scope 1 and 2) for each of its sites by 2030 at the latest.
Since then, the Group has made great strides in drawing up a set of concrete actions that will enable it to achieve this goal. These actions will be disclosed in detail during a dedicated presentation on CSR that will be held before the end of 2022. Already, the Group can offer the following items:
- The Group is convinced that it is possible to reconcile Economic Logic (growth in value creation) and Environmental Logic (shrinking and erasing our carbon footprint).
- The Group's Medium-Term Plan, submitted to its Board of Directors, now includes two dimensions: a euro dimension AND a teqCO2 dimension (unit value), for its scopes 1 and 2.
- The Net Carbon Neutrality goal (scope 1 and 2) will be achieved at least 80% by reducing its GG emissions, and at most 20% by the local capture of residual emissions. The intermediate goal of a 50% reduction, compared to the reference year 2018/19, is scheduled to occur by 2025.
- The Net Carbon Neutrality goal (scope 1 and 2) is applicable to all sites; MMV, will be integrated starting in financial year 2022/23.
- The Group commits to making public its intermediate results on the path to achieving this goal, on an annual basis, comparing them with the path emerging from the curves made public today.
- Annual GG emissions, which had up to now been verified by the statutory auditors (Mazars).
- Compagnie des Alpes is presently able to confirm that its cessation of the use of fossil fuels for the preparation and grooming of its ski runs as of the 2022/23 Winter Ski Season.
- The Group must now formalize its numerous future achievements and commitments in the areas of biodiversity and the management of water and waste. The Group will also contribute to scope 3 via its own initiatives (for example, reestablishing the London/Bourg Saint Maurice rail link via the Travelski Express, which is the equivalent of 180 flights avoided). Other commitments and initiatives will be made public soon.
Group GG emissions (figures smoothed (2) - scope 1 and 2): Past data and future projections
(1) The "absolute contraction approach" trajectories SBTi 1.5° and Well Below (WB) 2°C are compatible with the objectives of the Paris Agreements. Reduction of 4.2% min. per year for a "1.5°C" alignment, of 2.5% min. per year for an alignment with the "Well Below 2°C" objective.
(2) Data by fiscal year (base year 2019 = fiscal year 2018/19)
Ski Areas (reduction + local capture)
(2) The "absolute contraction approach" trajectories SBTi 1.5° and Well Below (WB) 2°C are compatible with the objectives of the Paris Agreements. Reduction of 4.2% min. per year for a "1.5°C" alignment, of 2.5% min. per year for an alignment with the "Well Below 2°C" objective.
In relation to skier-days forecast in the MTP, emissions decrease rapidly, by a factor of X4 by 2026
(1)Source : Food GES (ADEME)
Leisure Parks (reduction + local capture)
(2) The "absolute contraction approach" trajectories SBTi 1.5° and Well Below (WB) 2°C are compatible with the objectives of the Paris Agreements. Reduction of 4.2% min. per year for a "1.5°C" alignment, of 2.5% min. per year for an alignment with the "Well Below 2°C" objective.
In relation to visitors and after dark openings forecast in the MTP, emissions decrease rapidly, by a factor of x3 by 2026
(1) Source: Food GES (ADEME)
This press release contains forward-looking statements concerning the outlook and growth strategies of Compagnie des Alpes and its subsidiaries (the "Group"). These elements include indications relating to the Group's intentions, its strategies, its growth outlook and trends concerning its operating results, its financial situation, and its cash position. Although these indications are based on data, assumptions, and estimates that the Group considers to be reasonable, they are subject to numerous risk factors and uncertainties such that actual results may differ from those anticipated or implied by these indications due to multiple factors, in particular those described in the documents registered with the Autorité des marchés financiers (AMF) available on the Compagnie des Alpes website (www.compagniedesalpes.com). The forward-looking information contained in this press release reflects the guidance given by the Group on the date of this document. Unless there is a legal obligation, the Group expressly declines any commitment to update these forward-looking elements in the light of new information or future developments.
Upcoming events and releases in 2022/2023:
- 2021/2022 annual results: Tuesday, December 6, 2022, before stock market open
- 2022/2023 1st quarter sales: Tuesday, January 24, 2023, after stock market close
- Annual Shareholders' Meeting: Thursday, March 9, 2023, morning
- 2022/2023 2nd quarter sales: Tuesday, April 25, 2023, after stock market close
www.compagniedesalpes.com
Additional information
Consolidated Group sales, October 1, 2021, through September 30, 2022|
Unaudited data (In € thousands) |
2021/22(1) | 2020/21(2) | 2019/20(2) | 2018/19(2) | Change 21/22(1) vs 18/19(2) |
| First quarter | |||||
|
Ski Areas
|
62 591 | 1 293 | 54 868 | 49 820 | +25.6% |
|
Leisure Parks
|
99 393 | 24 670 | 80 459 | 69 309 | +43.4% |
|
Holdings & Support
|
4 754 | 423 | 3 050 | 2 902 | +63.8% |
| Total Q1 sales | 166 738 | 26 386 | 138 377 | 122 031 | +36.6% |
| Second quarter | |||||
|
Ski Areas
|
329 464 | 655 | 265 434 | 302 395 | +9.0% |
|
Leisure Parks
|
21 034 | 2 921 | 22 707 | 23 821 | -11.7% |
|
Holdings & Support
|
23 971 | 1 042 | 14 102 | 17 499 | +37.0% |
| Total Q2 sales | 374 469 | 4 618 | 302 243 | 343 715 | +8.9% |
| Third quarter | |||||
|
Ski Areas
|
55 237 | 3 457 | 2 013 | 47 168 | +17.1% |
|
Leisure Parks
|
143 184 | 32 954 | 10 038 | 117 404 | +22.0% |
|
Holdings & Support
|
5 038 | 649 | 629 | 2 240 | +124.9% |
| Total Q3 sales | 203 459 | 37 060 | 12 680 | 166 812 | +22.0% |
| Fourth quarter | |||||
|
Ski Areas
|
8 184 | 5 269 | 4 662 | 4 389 | +86.5% |
|
Leisure Parks
|
204 881 | 161 178 | 118 859 | 170 179 | +20.4% |
|
Holdings & Support
|
805 | 5 303 | 5 576 | 6 880 | -88.3% |
| Total Q4 sales | 213 870 | 171 750 | 129 097 | 181 448 | +17.9% |
| Annual totals | |||||
|
Ski Areas
|
455 476 | 10 674 | 326 977 | 403 772 | +12.,8% |
|
Leisure Parks
|
468 492 | 221 723 | 232 064 | 380 713 | +23.1% |
|
Holdings & Support
|
34 569 | 7 417 | 23 357 | 29 521 | +17.1% |
| Total 12 months | 958 537 | 239 814 | 582 397 | 814 006 | +17.8% |
- 2021/2022 sales include the integration of Evolution 2 in Ski Areas, and sales for the real estate agencies in Holdings & Support.
- Adjusted for sales from Les 2 Alpes ski resort, (€40.0 M in financial year 2018/2019), removed from Group consolidation as of December 1, 2020.
The table above shows sales for financial year 2021/2022 and annual sales for the three previous financial years, adjusted for the Les 2 Alpes ski resort. Comparisons with 2020/2021, which were substantially impacted by the closure of sites in late October of 2020, are not relevant. The same is true for comparisons with financial year 2019/2020, due to the total shutdown of sites as of mid-March of 2020. In the table above and in the commentary presented below, the Group thus draws a comparison with financial year 2018/2019, the most recent fully completed financial year pre-Covid.