Compagnie des Alpes // 2020 Universal Registration Document

5 FINANCIAL INFORMATION

Analysis of consolidated results and sectors

The carrying amount of the rights of use and the lease liability as well as the changes recorded during the period break down as follows:

Technical installations/ equipment

Rights of use (in thousands of euros) AT 1 OCTOBER 2019

Others fixed assets

Lease liabilities 132,314

Land

Buildings

Total

60,637 51,107 -4,604

57,142

12,137

1,657

131,573

Increases

4,658

-49

131

55,847

55,740

Amortisation, depreciation and impairment Interest expenses on lease liabilities*

-10,134

-1,585

-423

-16,746

-2,618 -8,157

Lease payments*

Translation adjustments AT 30 SEPTEMBER 2020

-204

-204

-236

107,140

51,462

10,503

1,365

170,470

177,043

* Change in lease liabilities in the statement of cash flows.

The impact on the consolidated income statement breaks down as follows: l On the Group’s income statement:

30/09/2020

30/09/2019

Published IFRS 16 impact Without IFRS 16

Published 232,292 105,106

(in thousands of euros)

EBITDA

93,775

13,695

80,080

Net operating income Net financial income

-105,861

1,064

-106,925

-12,552

-2,618

-9,934

-8,270

l On the EBITDA of business lines:

Ski areas Total 30/09/2020 30/09/2019 30/09/2020 30/09/2019 30/09/2020 30/09/2019 30/09/2020 30/09/2019 Leisure parks Holdings and supports

EBITDA (gross operating income) (in thousands of euros)

PUBLISHED EBITDA

123,258 165,523

1,155 97,020 -30,638 -30,251

93,775 232,292

IFRS 16 impact

4,026

8,099

1,570

13,695

EBITDA WITHOUT IFRS 16

119,232 165,523

-6,944 97,020 -32,208 -30,251

80,080 232,292

Comparable scope Familypark was acquired by Compagnie des Alpes on 20 March 2019. The income statement for the first half of 2018/19 did not include the results of the portfolio. In the first half of 2020, the company generated revenue of €3.3 million and a negative EBITDA of -€1.2 million. These data are restated for like-for-like changes. 5.1.1.1 Activity and net income for the period CONSOLIDATED INCOME AT 30/09/2020

FY 2019/2020 Comparable scope (2)

FY 2018/2019 Comparable scope (3)

Change % Comparable scope (2) - (3) / (3)

FY 2019/2020 Actual scope (1)

FY 2018/2019 Actual scope (4)

Change % Actual scope (1) - (4) / (4)

(in millions of euros)

Revenue

615.6

612.3

854.0 232.3 27.2% 105.1

-28.3% -59.1% -43.0%

854.0 232.3 27.2% 105.1 -10.3 -32.2

-27.9% -59.6% -44.0% -75.5% 139.8% -91.8% -200.7% -254.6%

EBITDA (gross operating income)

93.8

95.0

EBITDA/Revenue

15.2%

15.5%

NET OPERATING INCOME

-105.9

-102.9

-197.9%

Net cost of debt and miscellaneous

-18.1

Income tax expense

12.8

Equity method NET INCOME

0.7

8.9

-110.4

71.4 -0.2 62.2

Minority interests

6.1

166.3%

NET INCOME (GROUP SHARE)

-104.3

-267.6%

N-B: comparable scope data do not include first half results for Familypark (Leisure park), consolidated as of 1 April 2019.

Overall, the Compagnie des Alpes Group’s results for FY 2019/2020 show a significant decline in revenue and gross operating income due to the pandemic that led to the premature end of the Ski areas’ winter season on 14 March 2020 and the closure of the Leisure parks during

almost the entire third quarter. Lastly, since it restarted its activity at the beginning of the summer, the Group has recorded a significant drop in attendance at its Leisure parks compared with the same period last year as a result of the pandemic.

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Compagnie des Alpes I 2020 Universal registration document