Brief: Compagnie des Alpes H1 Revenue Down At 470.5 Million Euros

Compagnie des Alpes SA

23/04/2020 18:28

April 23 (Reuters) - COMPAGNIE DES ALPES SA  CDAF.PA :
    * H1 REVENUE EUR 470.5 MILLION VERSUS EUR 498.2 MILLION YEAR
AGO
    * AS OF MARCH 31, NET DEBT WAS EUR 465.3 MILLION
    * CHIEF EXECUTIVE OFFICER DECIDED TO REDUCE HIS FIXED
COMPENSATION
BY 20%
    * ESTIMATES TO BE ABLE TO REDUCE FY CAPEX BY ABOUT 30
MILLION
EUROS
    * EARLY CLOSURE OF SKI RESORTS THUS ELIMINATED SALES FOR THE
SECOND QUARTER DURING A TWO-AND-A-HALF-WEEK
    * CHAIRMAN DECIDED TO LOWER HIS FIXED COMPENSATION BY 20%,
WHILE
OTHER MEMBERS OF EXECUTIVE COMMITTEE AS WELL AS SITE MANAGERS
DECIDED ON 15 % AND 10% DECREASES IN THEIR PAY, RESPECTIVELY
    * SKI RESORTS: SALES FOR THE SECOND QUARTER THUS DECLINED BY
€39.9
MILLION Y/Y

Source text for Eikon:  ID:nNDLbPFnf8 
Further company coverage:  CDAF.PA 

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