Brief: Compagnie Des Alpes Suspends EBITDA Margin Targets Due To Coronavirus

Compagnie des Alpes SA

30/03/2020 09:58

March 30 (Reuters) - COMPAGNIE DES ALPES SA  CDAF.PA :
    * CONCERNING THE SKI AREAS DIVISION, COMPAGNIE DES ALPES,
CLOSED
ALL OF ITS DOMAINS ON MARCH 14
    * ON CORONAVIRUS:  ANTICIPATES SALES FOR THIS ACTIVITY TO BE
DOWN
BY AROUND 20% THIS SEASON COMPARED TO THE PREVIOUS FINANCIAL
YEAR, I.E. AROUND 85 TO 90 M€
    * ESTIMATES THAT THE DROP IN ITS REVENUE COULD BE OFFSET BY
A
LITTLE OVER 40% DURING PERIODS OF CLOSURE BY THIS PLAN TO REDUCE
STRUCTURAL AND OPERATING COSTS FOR BOTH SKI AREAS AND LEISURE
PARKS
    * IS CONFIDENT IN ITS ABILITY TO COVER ITS NEEDS FOR
LIQUIDITY
UNTIL THE END OF THE CALENDAR YEAR, INCLUDING IN A DOWNGRADED
SCENARIO
    * SUSPENDING THE EBITDA MARGIN TARGETS FOR ITS TWO BUSINESS
LINES
FOR THE FINANCIAL YEAR 2019-2020
    * THE INVESTMENTS PLANNED IN THE ESTATES AND PARKS FOR THE
2019-2020 FINANCIAL YEAR ARE CURRENTLY BEING CLOSELY EXAMINED

Source text: https://bit.ly/2JolGD1
Further company coverage:  CDAF.PA 

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