Brief: CDA FY Net Result Turns To Loss Of EUR 104.3 MLn

Compagnie des Alpes SA

08/12/2020 07:17

Dec 8 (Reuters) - Compagnie des Alpes SA  CDAF.PA :
    * ANNUAL RESULTS
    * FY OPERATING LOSS EUR -105.9 MILLION VERSUS PROFIT EUR 105.1 MILLION YEAR
AGO
    * FY NET LOSS GROUP SHARE EUR -104,3 MILLION VERSUS PROFIT EUR 62.2 MILLION
YEAR
AGO
    * THE BOARD OF DIRECTORS WILL PROPOSE TO GENERAL MEETING TO BE HELD IN MARCH
THAT
NO DIVIDEND BE PAID FOR THE 2019/2020 FINANCIAL YEAR.
    * THE GROUP WAS UNABLE TO OPEN ITS SKI AREAS IN THE FIRST QUARTER OF
2020/2021 AND
IT IS NOW LIKELY THAT THIS WILL NOT BE THE CASE BEFORE THE END OF JANUARY
    * IF THIS HYPOTHESIS IS CONFIRMED, THE DIRECT IMPACT OF THIS DELAY IN THE
START TO
SEASON WOULD REPRESENT A SHORTFALL OF OVER €100M
    * FOR LEISURE PARKS, THE SHORTFALL OVER HALLOWEEN AND CHRISTMAS HOLIDAYS
PERIOD AS
A WHOLE IS EXPECTED TO AMOUNT TO AROUND €50 MILLION
    * THE GROUP WOULD BE IN A POSITION TO MAKE UP 25 TO 30% (EXCLUDING
GOVERNMENT AID)
OF THE SHORTFALL IN REVENUE
    * GROUP'S ANNUAL INVESTMENT BUDGET FOR 2020/2021 IS EXPECTED TO BE BETWEEN
€120
MILLION AND €160 MILLION
    * GROUP IS CONFIDENT IN ITS ABILITY TO COVER ITS LIQUIDITY NEEDS UNTIL THE
END OF
CALENDAR YEAR 2021

Further company coverage:  CDAF.PA 

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