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CDA Group consolidated sales (leisure parks and ski area activities) for FY 2010-2011 came to €641.5 million, up 7.5% on a reported basis and down slightly (-0.6%) like for like.
Leisure parks
For FY 2010-2011, total sales for leisure parks amounted to €279 million, an increase of 20.6% on a reported basis . Leisure park business was affected by significant changes in the scope of consolidation (consolidation of Futuroscope and disposal of a group of seven leisure parks). Like for like, sales were nearly flat at -0.2%.
Attendance increased 0.9% for the year. Accounts show that average visitor spending fell 1.1% compared to last year. This change is due to a variation in bartering products and a drop in sales represented by expired unused tickets. Disregarding these two items, which do not reflect the realities of the business, average visitor spending remains stable.
After an insignificant first half, business picked up in the third quarter, when all Group parks except the Musée Grévin contributed to a rise in sales of 8.6% like for like (3.6% like for like in the first nine months of the year).
The fourth quarter witnessed a downturn, particularly for weather-dependent sites. Overall leisure park sales are down 4% like for like over this period. In a difficult general context, the Group thus observed the initial benefits of its brand deployment strategy. The four Walibi parks saw strong attendance throughout the year, despite poor weather in July and August. Attendance was up by nearly 4.5% for the year due to the initial effects of the brand re-launch.
Outlook
Lower than expected sales results for leisure parks will not make it possible to absorb the costs tied to the Walibi re-launch and certain development projects. These investments will pay off at a later date.
Operating results for the leisure park business, where growth is expected to be limited on a reported basis, will therefore suffer like for like from the cumulated effects of these specific costs and activity that was less dynamic than expected.
However, the Group’s results reflect the initial positive effects of increased consulting and support
activities on international projects.
Ski area
Please report on this document for more details about the results of the annual sales for ski area.
Upcoming events :
• Salon Actionaria, Palais des Congrès, Paris: November 18-19, 2011
• FY 2010-2011 results: December 14, 2011, before market
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