Compagnie des Alpes - 2017 Registration Document

5 FINANCIAL INFORMATION

Parent-company financial statements

4.4 NET EXTRAORDINARY INCOME Net extraordinary income amounted to €3.2 million. It mainly includes net capital gains from the disposal of Grévin Deutschland for an amount of €1.9 million, the reversal of a provision for affiliate risk of €0.9 million as well as the merger premium for CADEVI and CDHA for €0.2 million. INCOME TAX For the fiscal year ended 30 September 2017, Compagnie des Alpes continued to act as the head company of the tax consolidation group. Consolidated subsidiaries were as follows: z Grévin & Cie; z Musée Grévin; z France Miniature; z CDA-Domaines Skiables; z Méribel Privé (formerly Compagnie Immobilière des 2 Savoie); z CDA Financement; z Méribel Alpina; z SCV Domaine Skiable (Serre Chevalier); z CDA Productions; z Avenir Land (Walibi Rhône-Alpes); z Société d’Aménagement de la Station de La Plagne (SAP); 4.5

z Arcs Domaine Skiable (ADS); z CDA Ski Diffusion; z CDA Management; z INGELO; z DAL; z SC2A SARL; z CDA DL; z Val-d’Isère Téléphériques; z Valbus; z CDA Brands; z Serre Chevalier Bail; z Val-d’Isère Immo.

The tax consolidation regime of Compagnie des Alpes is based on the general principle of financial neutrality. Each subsidiary member of the tax group states income tax as if the subsidiary were not consolidated, and the parent company declares the total income tax of the tax group. The tax group reported taxable earnings of €39.9 million. The tax group incurred income tax of €13.3 million. In light of the tax contributed by the tax consolidated subsidiaries (€19.4 million), the accounting income generated by the tax consolidation totalled €6.1 million.

Note 5

Off-balance sheet commitments

The commitments given include: z the sureties given on the rents from Prague and Montreal (for €2 million); z a bank guarantee and parent company guarantee at first request of CHF750 thousand each, 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.

The commitments received are as follows: z when acquiring Futuroscope (in January 2011), the sellers provided Compagnie des Alpes with representations and warranties indemnifying it (for €15.7 million) for post-transaction damages. These representations and warranties remain in force until the corresponding legal and regulatory terms expire.

Note 6

Events after the reporting date

Compagnie des Alpes redeemed the bond issue of €200 million maturing on 18 October.

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Compagnie des Alpes I 2017 Registration Document