The Compagnie des Alpes which owns more than a dozen leading ski resorts in France and other countries has reported sales up 14.6% on a real basis and +6.4% ‘like-for-like’ at 579.3 million Euros in the period ended September 30th.
It was a period during which the company had to release a statement reassuring interested parties of its long term stability due to media speculation in the frenzied atmosphere of the global economic slowdown.
“The Compagnie des Alpes has delivered one of its best performances ever in terms of like-for-like sales growth. Each of the Group’s two business segments grew in a highly competitive environment.” said Dominique Marcel, Chairman of the Management Board.
The company owns both ski resorts and theme parks. Ski area sales grew by 23.7% on a real basis, including 14% from the consolidation of STVI (Val d’Isère) and its subsidiaries since the beginning of the financial year and 2% attributable to the consolidation of SFB (Saas Fee) for the period from October 2007 to January 31, 2008.
Like-for-like sales growth was 7.8%. Lift ticket sales alone accounted for 334.0 million, with growth of 8.7%.
“Group high-altitude ski areas offered favourable skiing conditions throughout the year. The quality of the product offer and the solid performances of the sales and accommodation teams allowed Group companies to beat the all-time record for visitor numbers, with 13.7 million skier days, a rise of +6.8% from the 2006-2007 season.” said a company statement.
Average daily receipts rose by just under 2%, with the closing of the Vanoise Express cable car for the entire season weighing mainly on the average sales price.
Given the level of business observed in the two segments as well as the consolidation of STVI (Val d’Isère), Compagnie des Alpes will see significant growth of its operating income and net attributable income compared to the 2006-2007 financial year.