Monday, June 1, 2009

Compagnie des Alpes Reports Half-year 2008-2009 Results

Despite the economic crisis, the Compagnie des Alpes 2008-2009 financial year began with very encouraging performances by the Group's two business lines.
Throughout the 2008-2009 winter season, which ended May 10, 2009, the Group's French ski areas had very satisfactory business, reflecting the quality of the sites and the strength of the ski market. Compared with the record season in 2008, visitor numbers at CDA ski areas—13.4 million skier days, for a decline of 2.3%—held up better than those of major competitors, and improved slightly on the average of the last three seasons. This performance, the second-best visitor numbers in the Group's history, came about despite the Alpine World Ski Championships, held at Val d'Isère during peak season, and despite the effects of the poor economy on the British clientele, who account for 20% of the total Group ski-area customers. Skier-day revenue rose by around 4.1%, partly because of the reopening of the Paradiski ski area, which gave the CDA Group like-for-like revenue growth in ski areas for the 20th consecutive year. Growth for the 2008-2009 season should come to around 1.7% compared with the previous season's.