Compagnie des Alpes - 2017 Registration Document

5 FINANCIAL INFORMATION

Consolidated financial statements

Leisure destinations The table below shows the positive difference between the values in use and the values tested (consolidated cost price of €493 million).

Discount rate

5.5% 477.9 603.4

6.0% 367.0 462.9

6.5% 278.4 353.9 448.2

1.5%

LT growth rate

2.0%

2.5%

770.7

586.3

Group Development The table below shows the difference between the values in use and the values tested (consolidated cost price of €3.1 million).

Discount rate

5.5%

6.0% 26.0 32.3 38.8

6.5%

1.5%

31.6

21.6

LT growth rate

2.0%

39.8

26.5

2.5%

48.7

31.5

This business segment includes parks in the startup phase in new geographic segments. While no goodwill was recognised, the sensitivity analysis nevertheless shows that the difference between the value in use and the value to be tested is smaller than in the core sites of the Group. This points to the risk inherent to these new markets combined with the recent opening of sites in which the “Grévin” brand is yet to take root. At the end of the season, the Seoul and Prague sites showed income below expectations, including from a medium-term outlook. In these circumstances, the decision was made to withdraw from the Seoul and Prague asset management by sale or closure, which lead to impairment of assets in 2016/2017 and will normalise the asset management for

the Vevey and Montreal sites. The impairment loss of €18.8 million on property, plant and equipment of the Prague and Seoul sites were, as an exception, recognised in the income statement (in the absence of impact in terms of cash) on the line “Non-current income (losses on property, plant and equipment)”. For the Group as a whole, the sensitivity analyses presented indicate that the recoverable amount for the three operating segments and the “Holdings and supports” segment is higher than the Group’s equity. These valuations are supported by additional tests (including sensitivity analyses) carried out on the basis of criteria monitored internally (investments and margins).

6.2 INTANGIBLE ASSETS Intangible assets break down as follows:

Changes in the scope of consolidation

At 30/09/2017

At 30/09/2016 Acquisitions Disposals Increases Reversals

Translation adjustments

Other changes

(in thousands of euros)

Gross amount Use rights Business intangibles

93,438 8,479 9,000 20,300

-24

19

93,433 9,287 9,000 20,300

808

Musée Grévin trademark

Walibi trademark

Highway interchange concession Parc Astérix Cinematographic films and works

6,272

6,272

13,259 41,693

515 -1,399

1,917

14,292 45,119

Other intangible assets

6,148 -801 6,663 -2,224

-4 -4

-136 -1,781

SUBTOTAL: GROSS AMOUNT Depreciation and impairment Depreciation Use rights Depreciation Business intangibles Depreciation Highway interchange concession Parc Astérix Depreciation Cinematographic films and works Depreciation Other intangible assets

192,441

-136 963 197,702

-71,861

-2,384

24

-74,221

-7,152

-136

113

-333

-7,508

-1,766

-64

-1,830

-8,638

-2,319 1,354

-9,603

-28,677

-6,598

343

1

93 334

-34,504

SUBTOTAL: DEPRECIATION AND IMPAIRMENTS

-118,094

-11,501 1,834

1

93

1 -127,666

NET AMOUNT

74,347

6,663 -2,224 -11,501 1,834

-3

-43 964

70,036

120

Compagnie des Alpes I 2017 Registration Document