Compagnie des Alpes - 2017 Registration Document

5 FINANCIAL INFORMATION

Consolidated financial statements

8.2

HEADCOUNT

30/09/2017

30/09/2016

Average headcount France Europe (excl. France)

3,965

3,874

731

793

TOTAL AVERAGE HEADCOUNT

4,696

4,667

At 30 September 2017, headcount broke down as follows: z Ski areas: 20.5%;

z Leisure destinations: 73.1%; z Group Development: 3.4%; z Holdings and supports: 3%.

8.3

OFF-BALANCE SHEET COMMITMENTS

Operating leases and leasing contracts The CDA Group’s lease commitments at 30 September 2017 were as follows:

Total

< 1 year

From 1 to 5 years

> 5 years 100,538

(in thousands of euros) Operating leases Leasing contracts

158,279

13,544

44,197 4,688 48,885

6,949

1,642

619

TOTAL

165,228

15,186

101,157

Other commitments

30/09/2017

30/09/2016

(in thousands of euros)

Guarantees and sureties

2,898 1,000 26,072 29,970

4,482

Representations and warranties given

Other

28,336 32,818

COMMITMENTS GIVEN

Representations and warranties received

-

-

Sureties received

14,118 14,118

6,917 6,917

COMMITMENTS RECEIVED

The commitments given and received include mostly: z the real estate commitments of the Deux Alpes Loisirs group: its subsidiary SC2A (formerly Deux Alpes Voyages) provided a guarantee to cover up to €7.2 million in current lease payments; z €2.1 million from the funding approval for €12 million given by CDA Financement to SAP Investissement was not used; z in the context of the creation of real estate companies to stimulate the refurbishment of the real estate assets of our resorts, the ski lift companies provide investors with guaranteed rents during the refurbishment period, and then to put them back on the market. At 30 September 2017, these commitments amounted to the relatively low figure of €16.7 million, given the number of transactions currently being carried out: z the sureties received primarily relate to: z guarantees of €7.1 million given to ADS on land deals,

z a bank guarantee received by STVI to cover the future payment of a transactional compensation of €2.8 million relating to the restaurant Tête de Solaise, z sureties received from suppliers for €2.8 million as part of the construction work of a new hotel in Parc Astérix, z a surety received on the tourist service guarantees for Futuroscope Destination in the amount of €1.2 million; z a bank guarantee and parent company guarantee at first request of CHF750 thousand, given for the By Grévin site; z a parent company guarantee at first request given to the City of Paris for Jardin d’Acclimatation in the amount of €123 thousand until 31 December 2017. When acquiring Futuroscope (in January 2011), the sellers provided Compagnie des Alpes with representations and warranties indemnifying it in the event of inspection by tax, parafiscal, social, customs, social security, and other bodies. These representations and warranties remain in force until the corresponding legal and regulatory terms expire.

8.4 EVENTS AFTER THE REPORTING DATE In October, the Group redeemed its €200 million bond that had matured on 18 October and drew two bank loans of €25 million and €80 million contracted in February.

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Compagnie des Alpes I 2017 Registration Document