Compagnie des Alpes reports Second Best Ski Season

Ski Business Down, But Still Second Best Season Ever

The world's largest ski lift operator, the French-based Compagnie des Alpes, has reported that throughout the 2008-2009 winter season, which ended May 10, 2009, the Group's French ski areas had what it describes in a statement as, "very satisfactory business, reflecting the quality of the sites and the strength of the ski market."

Compared with the record season in 2008, visitor numbers at CDA ski areas—13.4 million skier days, a decline of 2.3%—held up better than those of major competitors, and improved slightly on the average of the last three seasons. This performance, the second-best visitor numbers in the Group's history, came about despite the Alpine World Ski Championships, held at Val d'Isère during peak season, and despite the effects of the poor economy on the group's British clientele, who account for 20% of the total Group ski-area customers.

Consolidated sales came to 324.9 million Euros over the winter, slightly down (-1.7%) from the first half of the previous year. This change can be explained mainly by the shift of Easter weekend to the second half (Easter was in March in 2008) and by related holidays in numerous European countries.

As a result, ski-area sales were down 2.3%, but despite the drop in sales, and because of a limited (+2%) rise in operating costs, Group operating margins were better than those of H1 2007. Compared with H1 2008, which had record business and benefited from Easter weekend's falling in the month of March, operating income declined by 14.4%.
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