Compagnie des Alpes - 2017 Registration Document

5 FINANCIAL INFORMATION

Consolidated financial statements

The foregoing shareholdings are primarily focused on Ski Area shareholdings in real estate agencies and real estate development entities, which are not material in terms of the consolidated financial statements.

These shareholdings are mainly owned with a view to their use (to support the commercial activities of our business lines).

6.6

INVENTORIES

30/09/2017

30/09/2016

(in thousands of euros)

Gross amount Impairment LAND BANK Gross amount

4,298

4,358

-

-

4,298

4,358

388

363

Impairment

-313

-313

PARKING AREAS

75

50

Gross amount

18,366

17,593

Impairment

-524

-248

INVENTORIES OF RAW MATERIALS, SUPPLIES AND GOODS

17,842 22,215

17,345 21,753

TOTAL

The land banks are mainly held by ADS (Les Arcs/Peisey-Vallandry) and SAG (Flaine). These companies develop sites for subsequent sale. Inventories of raw materials, supplies and goods relate to either the Ski areas segment (spare parts for ski lifts), the Leisure destinations

segment (shop inventories, restaurants and costumes) or to the Group Development segment (ongoing waxwork production by CDA Productions for Grévin operations in France and abroad).

6.7

ACCOUNTS RECEIVABLE

30/09/2017

30/09/2016

(in thousands of euros)

Advances and down-payments

3,698 19,957 26,855 6,516 -2,177 54,848

3,375

Trade receivables

16,398 22,343

Tax and payroll receivables Other accounts receivable

1,771

Impairment

-1,325 42,562

TOTAL

6.8

CASH AND CASH EQUIVALENTS

30/09/2017

30/09/2016

(in thousands of euros) Investment funds

6,001

4,004 2,750 27,423

Time deposits

-

Demand deposits

40,063

Cash

784

636

TOTAL

46,848

34,813

The improvement in the active cash position at 30 September 2017 is essentially the result of the refinancing that took place in 2017 and the early implementation of bond issues (see Note 6.11).

6.9

SHAREHOLDERS’ EQUITY

Stock options There are 113,950 performance shares (representing 0.47% of the share capital) that had not yet vested at 30 September 2017. All the outstanding options and grants are settled by share buybacks on the market. At 30 September 2017, the remaining stock of free shares totalled €99 thousand for 6,170 shares.

Treasury stock Pursuant to the share buyback programme authorised by the Combined Ordinary and Extraordinary Shareholders’ Meeting of 9 March 2017, CDA’s liquidity contract consisted of the following at 30 September 2017: z 9,733 shares representing a gross book value of €245 thousand; z cash of €730 thousand (principal and accrued interest).

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Compagnie des Alpes I 2017 Registration Document