Brief: Compagnie Des Alpes FY Operating Loss Widens To 124.4 Million Euros

Compagnie des Alpes SA

07/12/2021 07:57

Dec 7 (Reuters) - COMPAGNIE DES ALPES SA  CDAF.PA :
    * FY CONSOLIDATED SALES EUR 240.6 MLN VS EUR 615.6 MLN YEAR
AGO
    * FY OPERATING LOSS EUR 124.4 MLN VS LOSS OF EUR 105.9 MLN
YEAR
AGO, ALSO INCLUDES GOODWILL DEPRECIATION FOR LEISURE PARKS AND
TRAVELFACTORY OF EUR 48.8 MLN
    * FY NET COST OF DEBT EUR 20.3 MLN VS EUR 12.6 MLN YEAR AGO
    * FY NET LOSS GROUP SHARE EUR 121.7 MLN VS LOSS OF EUR 104.3
MLN
YEAR AGO
    * FY FREE CASH FLOW AT EUR -14.6 MLN VS EUR -74.4 MLN YEAR
AGO
    * BOARD OF DIRECTORS TO RECOMMEND THAT NO DIVIDEND BE PAID
OUT FOR
FY 2020/2021
    * GROUP CONFIRMS OBJECTIVE TO RETURN TO DISTRIBUTION RATE AT
LEAST
EQUIVALENT TO PRE-CRISIS LEVEL AS OF 2022/2023 (IN RESPECT OF
FINANCIAL YEAR 2021/2022)
    * GROUP EXPECTS SALES AND EBITDA TO RECOVER TO LEVELS SEEN
BEFORE
CRISIS AS OF 2022/2023, FOLLOWED BY RETURN TO GROWTH TRACK FOR
SALES AND EBITDA MARGINS THEREAFTER
    * TOTAL INVESTMENT EXPENDITURE EXPECTED TO REACH AROUND EUR
210
MLN PER YEAR ON AVERAGE FOR 2021/2022 TO 2024/2025 (VS EUR 200
MLN ANNOUNCED PREVIOUSLY, EXCEPT GRAND ASTÉRIX AND GRAND MASSIF)
    * THIS ANNUAL AVERAGE INCLUDES BUDGET FOR INVESTMENT THAT
FALLS
SHORT OF THIS AVERAGE FOR 2021/2022, EXPECTED TO BE AROUND EUR
160 MLN
    * GROUP CONFIRMS GOAL OF REACHING, AT END-SEPT 2022,
FINANCING
DEBT LEVERAGE[1>OF BETWEEN 3.0X AND 3.5X, SUBSEQUENTLY FALLING
TO 2.5X AS OF END-SEPT 2023

    
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 Further company coverage:  CDAF.PA  

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