FIRST QUARTER SALES (AcT)

Consolidated Sales: October 1 through December 31, 2004

Sales for the first quarter of FY 2004/2005 amounted to €46 million. For a comparable scope consolidation the change is a decline of 2.3 %, after inclusion of the Serre Chevalier 1350 ski area and the Panorama Park and Pleasurewood Hills leisure parks, and after the deconsolidation of Cie du Mont-Blanc and Courmayeur (companies consolidated by the equity method since the beginning of this FY). For a real scope of consolidation, sales fell by 6.9%.

The first quarter is the smallest of the operating year, representing less than 15% of total sales; 80% of this figure is derived from Ski Area activities. This division suffered from the effects of an unfavorable Christmas school vacation calendar this year, made worse be the late snowfall. Sales in the Family Leisure division grew by 5.4% during this period, which usually has slow activity. This increase was primarily due to greater visitor numbers at Musée Grévin.

The second quarter 2004/2005 should see an increase in visitor numbers, allowing for improved Group activity over the period.

Compagnie des Alpes is a major player in the field of leisure production in Europe . CDA operates 27 leisure sites including 14 leading ski areas located in the Alps . These include Tignes, Les Arcs, La Plagne, Méribel, etc. The company also operates 13 family leisure sites, including Parc Astérix and Musée Grévin, in six European countries: France , Italy , Switzerland , Holland , Germany , and the United Kingdom . In all, CDA counts more than 20 million visitors annually. The Group made consolidated sales of €372.2 m and net income reached €29 m during the last fiscal year, which ended on September 30, 2004.

For further information: www.compagniedesalpes.com
Euroclear: 5332; ISIN: FR0000053324; Reuters: CDAF.PA; Bloomberg: CDA FP; FTSE: 538 Leisure facilities

Source : Actusnews