Compagnie Des Alpes Sa · EURONEXT:CDA
Compagnie Des Alpes Sa — H1 2024/25 Earnings Presentation
32 slides from Compagnie Des Alpes Sa's earnings presentation, May 20, 2025
Slide 1: First Half Results 2024/25
FIRST HALF RESULTS 2024/25 May 20, 2025
Slide 2: Contents
Contents 1 Highlights and key figures 2 1st half review of operations 3 2023/24 1st half results 4 Context and strategy 5 Conclusion and outlook 2 CDA - Half-year results 2024/25 - May 20, 2025
Slide 3: Highlights and Key Figures
HIGHLIGHTS AND KEY FIGURES 3 CDA - Half-year results 2024/25 - May 20, 2025
Slide 4: 2024/25 First Half Highlights
2024/25 first-half results up sharply compared with last year's record level 2024/25 EBITDA growth target raised to around +15% (vs. +10% previously, representing a 50% increase in the expected growth rate) Strengthening CDA’s local footprint in the mountains • Signing of an amendment securing the c
Slide 5: 2024/25 First half key figures
2024/25 First half key figures Sales EBITDA Net Attributable Income, Group €850 M In €M €312 M In €M Share: €134 M In €M +11.6% 850 +12.2% 28 Urban 761 +12.9% 312 679 +18.8% 10 Urban +7.9% 276 +5.2% 822 +9.3% +18.7% 761 233 679 Excl. 302 Urban 276 Excl. Urban 128 134 233 108 H1 2022/23 H1 2023/24 H1
Slide 6: 2024/25 first half key figures
2024/25 first half key figures Net CAPEX FCF from operations(1) Financial leverage(2) €138 M In €M €259 M In €M 1.7x +€5 M +13.5% +€46 M +19.5% 138 254 259 208 121 1,7x 1,1x 1,2x 102 (3) March 31 2023 March 31 2024 March 31 2025 H1 2022/23 H1 2023/24 H1 2024/25 H1 2022/23 H1 2023/24 H1 2024/25 (1) C
Slide 7: First Half Review of Operations
FIRST HALF REVIEW OF OPERATIONS 7 CDA - Half-year results 2024/25 - May 20, 2025
Slide 8: Ski Areas and Outdoor Activities: operating performances
Ski Areas and Outdoor Activities: operating performances A dynamic first half Ski lift sales: +5.5% ▪ Number of skier-days: stable at a record level New initiatives ▪ Revenue per skier-day: +5.5% ▪ Partnership with Prinoth to industrialize the production of electric snow groomers in the Alps ▪ Amend
Slide 9: Ski Areas and Outdoor Activities: financial data and investments
Ski Areas and Outdoor Activities: financial data and investments High seasonality Historically, the first half of the year accounts for nearly 90% of annual revenue and 70% of expenses In €M H1 H1 Change Sales up 5.5% compared to the record level of 2024/25 2023/24 the previous financial year Sales
Slide 10: Distribution & Hospitality: operating performances
Distribution & Hospitality: operating performances Half-year growth varied, in line with different dynamics across business segments MMV, 2nd hotel operator in the French Alps ▪ Sustained growth ▪ Increase in average revenue per overnight stay ▪ Upgrading of the Village Club in Flaine (4*) ▪ New agr
Slide 11: Distribution & Hospitality: financial data and investments
Distribution & Hospitality: financial data and investments High seasonality H1 accounts for the bulk of sales and a smaller proportion of expenses. Sales up by 6.1% In €M - Sustained sales for MMV and Mountain Collection Immobilier H1 H1 2024/25 2023/24 Change - Travelfactory’s sales were virtually
Slide 12: Leisure Parks: operating performances
Leisure Parks: operating performances Sales: +32.8% (+16.2% on a comp. basis) ▪ Number of visitors: +13.8% on a comp. basis ▪ Spending per visitor: ca. +5%(1) (admission + inpark) Success of Halloween and Christmas periods ▪ Increased thematics for Halloween and Christmas ▪ Noteworthy, innovative, a
Slide 13: Leisure Parks: financial data and investments
Leisure Parks: financial data and investments High seasonality Historically, H1 accounts for more than 25% of annual sales and 40% of expenses In €M Sales up by 16.2% on a comparable basis Change - Increase of 32.8% including Urban Goup, consolidated since June H1 H1 on a Operating expenses up Chang
Slide 14: First Half Results 2024/25
2024/25 FIRST HALF RESULTS 14 CDA - Half-year results 2024/25 - May 20, 2025
Slide 15: P&L Statement (1/2): Operating income up by 10.3%
P&L Statement (1/2): Operating income up by 10.3% In €M Change H1 H1 on a Half-year sales up sharply by 11.6% and 7.9% on a Change comparable basis 2024/25 2023/24 comp. basis Control over operating expenses, up by 10.9% Sales 849.5 761.1 +11.6% +7.9% - Increase in expenses (+7.2% on a comparable ba
Slide 16: P&L Statement (2/2): Net attributable income, Group share up by 5.1%
P&L Statement (2/2): Net attributable income, Group share up by 5.1% In €M H1 2024/25 H1 2023/24 Change Increase of €8.5 million in the net cost of debt Operating income 207.5 188.0 +10.3% - Net cost of debt excluding IFRS 16 increased by €4.5 million, driven by higher interest rates and a higher av
Slide 17: Statement of changes in net debt
Statement of changes in net debt In €M H1 2024/25 H1 2023/24 Strong seasonal decline in working capital EBITDA 312.2 276.5 requirements, in line with last year Change in WCR +106.0 +110.7 Net industrial investments -137.7 -121.3 Increase of €16 million in net industrial investments, in line with pla
Slide 18: Controlled debt leverage
Controlled debt leverage Net financial debt, excluding IFRS 16 liabilities Financial leverage(2) €580 M In M€ 1.7x 1 263 (1) 1 116 (1) 2.4x Impact Urban 509 0.4x acquisition 722 (1) 536 €215 M Excluding Impact Urban IFRS 16 Urban acquisition liabilities 340 acquisition 2.0x 754 1.7x Net debt 580 1.2
Slide 19: Debt maturity schedule
DEBT MATURITY SCHEDULE Maturity profile of Group debt at at March 31, 2025 En M€ RCF/NEU CP disponible Term Loan Découverts PPR PGE Euro PP 2024 US PP 2019 US PP 2017 Divers Liquidity at March 31, 2025 243 - Cash and cash equivalents of €214 million 163 - Undrawn RCF/NEU CP lines 82 of €300 million
Slide 20: Context and Strategy
CONTEXT AND STRATEGY 20 CDA - Résultats du 1er semestre 2024/25 - 20 mai 2025
Slide 21: Ski Areas: key investments for the 2025/26 season
Ski Areas: key investments for the 2025/26 season La Plagne - Roche de Mio ▪ Replacement of the gondola lift (originally built in 1975) with a new route via the Forcle Pass ▪ Creation of an intermediate station at the Forcle Pass => winter/ summer access ▪ Expected to be operational in December 2025
Slide 22: Distribution & Hospitality: new strategic developments
Distribution & Hospitality: new strategic developments Launch of the Travelski Night Express, night train service between Paris and Bourg-Saint-Maurice Initial 33% stake acquired in Terrésens • 14 round trips scheduled between December 19, 2025, and (for €6.9 million) March 20, 2026 • Reliable, carb
Slide 23: Leisure Parks: main new attractions for the 2025 season
Leisure Parks: main new attractions for the 2025 season A world premiere Walibi Holland: YOY, a world ▪ “Mission Bermudes,” a roller coaster on premiere Urban Group water ▪ A roller coaster with two trains that cross ▪ 7,000 m2 of immersive scenery each other (gentle or wild ride) ▪ La Valentine, a
Slide 24: Leisure Parks: main new attractions for the 2025 season
Leisure Parks: main new attractions for the 2025 season Walibi Belgium celebrates “Cétautomatix”, its 50th anniversary New, multi-purpose food and an attraction for the whole family Opening of the largest roller coaster beverage area (700m2) ▪ Expansion of the Gallic zone in the Benelux ▪ Enhanced f
Slide 25: Belantis: a new acquisition within the Leisure Parks division
Belantis: a new acquisition within the Leisure Parks division Family leisure park, based in Leipzig, Germany Opened in 2003 Belantis welcomes around 300 000 visitors per year Germany is the second market (after France) for leisure parks in Europe Key figures Operational data of the park ca. €11 M €2
Slide 26: Belantis: a family park in Germany with great potential
Belantis: a family park in Germany with great potential Solid advantages Additional land for development Landholding fully owned, covering nearly 110 hectares Attractive catchment area allowing for ▪ Including ca. 39 ha. devoted to the current site ambitious development plans ▪ And an additional dev
Slide 27: Acquisition consistent with the Group's strategy
Acquisition consistent with the Group's strategy, offering promising growth and performance potential Belantis is the Group’s 8th site in continental Europe, outside France With the acquisition of Belantis, CDA is establishing itself in an attractive new country and strengthening its position as a l
Slide 28: Leisure Parks: expansion of hotel capacity
Leisure Parks: expansion of hotel capacity ▪ 3rd theme hotel (4th overall), featuring 240 rooms (bringing the total to 726), a 4-star rating, a 400-seat restaurant, a bar, and dedicated seminar facilities ▪ 4th hotel, 300 rooms (i.e., 750 total), 4 stars, 2 restaurants, and ▪ Supports goal of extend
Slide 29: Group CSR commitments implemented in the first half
Engagements RSE du Groupe mis en œuvre au 1er semestre Signature of a partnership agreement with PRINOTH to Pillar Commitment industrialize the production of high-powered electric snow groomers in the Alpine region 1. Achieving Net Zero Carbon (scope 1 and 2) by 2030 2. Taking action to reduce scope
Slide 30: Conclusion / Outlook
CONCLUSION / OUTLOOK 30 CDA - Half-year results 2024/25 - May 20, 2025
Slide 31: Conclusion and outlook for the 2024/25 financial year
Conclusion and outlook for the 2024/25 financial year Sales Net industrial EBITDA investments Other Confidence in expected Growth target raised to Budget confirmed at • To date, CDA not affected by increase in customs duties sales over the 2nd half +15% from +10% around €276 million • CDA not affect
Slide 32: First Half Results 2024/25
FIRST HALF RESULTS 2024/25 May 20, 2025
Compagnie des Alpes — H1 2024/25 Earnings Presentation on 6ix