Compagnie des Alpes (CDA) Q1 2025 TU earnings summary

Executive summary

• Q1 2024/25 consolidated sales reached €261.8 million, up 30.7% year-over-year, or 23.4% on a comparable basis, driven by strong demand for leisure experiences and favorable calendar effects.

• Growth was supported by a dynamic Christmas holiday period, record Halloween and Christmas seasons in leisure parks, and two extra vacation days compared to last year.

Financial highlights

• Ski Areas and Outdoor Activities sales rose 19.7% to €79.9 million year-over-year.

• Distribution & Hospitality sales increased 25.4% to €17.4 million year-over-year.

• Leisure Parks sales surged 37.5% to €164.5 million, or 25.3% on a comparable basis.

• Group sales growth, excluding Urban Group, was 23.4% year-over-year.

Outlook and guidance

• Management expects approximately 10% EBITDA growth for the full year, with Q1’s positive calendar effect offset in Q2.

• Strong bookings and favorable snow conditions support confidence for the remainder of the season, especially for February holidays.

• The late Easter and shifting foreign school holidays introduce some unpredictability for the end of the season.

• Leisure Parks are expected to benefit from new offerings in spring/summer 2025.