Compagnie des Alpes (CDA) Q3 2024 TU earnings summary

Executive summary

• Consolidated sales for the first 9 months of FY 2023/24 rose 9.2% year-over-year to €975.7 million, driven by a record ski season and resilient leisure park activity despite adverse weather.

• Third quarter sales were stable at €214.6 million, with calendar effects and extreme rainfall impacting leisure park attendance.

Financial highlights

• Ski Areas & Outdoor Activities sales grew 13.2% to €542.4 million, with a 7.9% increase in skier-days and a 5.5% rise in average revenue per skier-day.

• Distribution & Hospitality sales increased 4.3% to €104.8 million, with strong performances from MMV and Mountain Collection Immobilier.

• Leisure Parks sales rose 4.7% to €328.5 million, mainly due to higher average spending per visitor (+4%), while visitor numbers were nearly flat (+0.6%).

Outlook and guidance

• Annual EBITDA guidance of around €350 million is maintained, contingent on normal conditions for the remainder of the season and limited impact from the Paris 2024 Olympics.

• Bookings for summer in Distribution & Hospitality are ahead of last year; leisure parks expected to perform well if weather normalizes.