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Mixed third quarter sales for the leisure parks

of Compagnie des Alpes

Update : 19:43 Published by François Mayné the 29 July 2012, Corporate.

Compagnie des Alpes (CDA) released this past week its consolidated sales for the first 3 quarters (October-June) of its fiscal year 2011/2012. It amounts to €525.6 million (about $647 million), up 5.5% on a real basis or 3% on a like for like basis compared to last year.

Sales for the activity of leisure parks amounted over this period to €152.7 million (about $188 million), up almost 6% on a reported basis due in particular to the integration of Futuroscope in CDA accounts. On a comparable basis, sales have actually fell by 2.1%.

Consolidated Group sales from October 1, 2011 to June 30, 2012

The beginning of season 2012 is indeed considered as "halftone" by the Group with a turnover for the third quarter (April-June) down 9.5% to €87.6 million (about $71 million) against €96.7 million (about $78.5 million) for the same period in 2011.

After a successful first half (9.9% increase of sales thanks to an excellent Halloween season), the activity has indeed experienced a serious slowdown during this quarter due to an exceptionally poor weather and an unfavorable basis of comparison with the beginning of season 2011. Last year, excellent weather and the reopening of the waterpark Aqualibi in Belgium resulted to a 9% increase in sales compared to 2010.

CDA is not worried about this mixed result by reminding that the third quarter represents only 30% of annual business. The Group also notes that - if parks attendance declined of 3% in 9 months- the average spending by visitor increased thanks to "a strategy of fair valuation of products, supported by a selective and suitable policy of expanding the offer."

The fourth quarter is the peak activity of the season, representing nearly 50% of the annual business. On July 23, if sales are a slight decline of -1.8% on a comparable basis, CDA finds that despite inclement weather, several behavioral indicators (pre-sale profiles, visitor satisfaction levels and increasing digital traffic) attest to the appeal of the Group's major sites.

In a statement, the company says “The policy of targeted investments in emblematic projects that generate value both for customers and for the Group has led to initiatives such as Oziris - the new star attraction at Parc Astérix, Walibi re-branding and new attractions, new shows and events for the 25th anniversary of Futuroscope and an extensive lineup of inaugurations to celebrate 130 years of Grévin Paris. This policy gives Leisure Parks the means to attract a summer clientele in search of accessible activities offering exceptional and high-quality experiences.” They conclude “In this context, and without excluding targeted tactical initiatives, the Group maintains its demanding policy of optimizing yields on ticket sales. This approach focuses mainly on fair valuation of products for individual clientele during the peak season."

Consolidated sales for the fiscal year 2011/2012 will be reported on October 25 and full year results on December 19.

- - -

Written by François Mayné

François Mayné Publishing Director » Contact Us
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