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Annual Report 2014

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Annual Report 2014 COMPAGNIE DES ALPES WHEREVER EMOTION CREATES VALUE ANNUAL REPORt 2014 WorldReginfo - d739885f-21fd-4c37-9019-8a1b3d84ffbb WELCOME TO A WORLD EXPERT IN LEISURE ENGINEERING WorldReginfo - d739885f-21fd-4c37-9019-8a1b3d84ffbb 03 Compagnie des Alpes, a solid, PORt 2014 PORt 25-year European leader in the world E of leisure, has successfully built L R undisputed industrial excellence, A placing performance at the core of ANNU its expertise, and now exports a unique know-how: creating outstanding leisure for the greatest numbers. From the biggest ski areas in the Alps to leisure destinations spread across Europe, the Group’s offering draws on its deep-rooted knowledge and unrivaled technological prowess to stimulate regions and lands into creating shared value. WorldReginfo - d739885f-21fd-4c37-9019-8a1b3d84ffbb EXPLORE 04 NEW TURF SKI, RECREATION, GETAWAY, THRILLS, CHEER, SHARING… boTH SKI AREAS AND LEISURE DESTINATIONS OFFER MORE, AND BETTER, YEAR AFTER YEAR, TO AN EVEr-SHIFTING AUDIENCE SEEKING SENSATION AND MOMENTS TO CHERISH. TO FULFILL ALL DESIRES AND EXPLORE ALL AVENUES OF GROWTH, COMPAGNIE DES ALPES HAS DESIGNED AND DEVELOPED A WHOLE HOST OF SOLUTIONS THAT MAKE IT A WORLDWIDE EXPERT IN Top-lEVEL LEISURE ENGINEERING. WorldReginfo - d739885f-21fd-4c37-9019-8a1b3d84ffbb ANNUAL REPORt 2014 05 WorldReginfo - d739885f-21fd-4c37-9019-8a1b3d84ffbb 06 Les Arcs – Peisey-Vallandry, La Plagne, Tignes, Val d’Isère, Les Menuires, Méribel, Les 2 Alpes, Serre Chevalier, Flaine, Samoëns, Morillon, Sixt Fer à Cheval, Chamonix, Avoriaz, La Rosière, Valmorel... the biggest ski resorts in the Alps are increasingly diversifying the enjoyment they bring to visitors of all ages and of many cultures. WorldReginfo - d739885f-21fd-4c37-9019-8a1b3d84ffbb ANNUAL REPORt 2014 07 WorldReginfo - d739885f-21fd-4c37-9019-8a1b3d84ffbb Teens and tweens eager for thrills, families 08 enchanted by their fi rst-time experience with snow, those on the lookout for quiet and vast open spaces… there is something for one and all in the off ering they inspired in us. WorldReginfo - d739885f-21fd-4c37-9019-8a1b3d84ffbb ANNUAL REPORt 2014 09 WorldReginfo - d739885f-21fd-4c37-9019-8a1b3d84ffbb Our technical expertise has expanded with new services that bring all kinds of sensations to life: quality accommodation, online booking, tours to explore Savoie’s heritage, novel experiences in the ski areas (first track, grooming school, etc.), organizing extreme competitions, creating unique multi-activity areas for a total, safe and carefree break. WorldReginfo - d739885f-21fd-4c37-9019-8a1b3d84ffbb WorldReginfo - d739885f-21fd-4c37-9019-8a1b3d84ffbb Our regions offer a diverse heritage and abound in innovative ideas and astonishing cultural traditions. Compagnie des Alpes can spot sites with a strong regional flavor to interpret and harness those everlasting sources of emotion. Plunge seekers of authenticity and chills into exceptional experiences 12 that will remain unforgettable from start to finish - this is the challenge we rise to all year round and all around. WorldReginfo - d739885f-21fd-4c37-9019-8a1b3d84ffbb WorldReginfo - d739885f-21fd-4c37-9019-8a1b3d84ffbb Thrills, wonder, astonishment - we draw on all sources of entertainment that fire our imagination, to captivate the young and the not-so-young from all backgrounds and all walks of life. Parc Astérix, Grévin, Futuroscope, Walibi, Mer de Sable, Planète Sauvage, France Miniature, Dolfinarium, Bellewaerde, Fort Fun… WorldReginfo - d739885f-21fd-4c37-9019-8a1b3d84ffbb WorldReginfo - d739885f-21fd-4c37-9019-8a1b3d84ffbb ... these high-value brands push past boundaries and thrive on unusual ideas. Our creativity stems from the encounter between technological innovation and regional culture, environmental heritage and the desire for discovery, the beauty of uncommon locations and the immersion in unforgettable experiences. 16 WorldReginfo - d739885f-21fd-4c37-9019-8a1b3d84ffbb ANNUAL REPORt 2014 17 WorldReginfo - d739885f-21fd-4c37-9019-8a1b3d84ffbb Our stringent technical standards mingle with the quest for the topmost quality 18 to attract first-time and returning friends, families and family tribes of every hue. WorldReginfo - d739885f-21fd-4c37-9019-8a1b3d84ffbb ANNUAL REPORt 2014 19 WorldReginfo - d739885f-21fd-4c37-9019-8a1b3d84ffbb 20 WorldReginfo - d739885f-21fd-4c37-9019-8a1b3d84ffbb 21 ANNUAL REPORt 2014 ANNUAL REPORt This is what drives our investments, the enthusiasm and dedication of our 5,000 staff members committed to our customers’ «Very High Satisfaction» within our European borders and beyond… WorldReginfo - d739885f-21fd-4c37-9019-8a1b3d84ffbb 1989/ 1991/ 1989 1990 1994 COMPAGNIE Tignes (STGm – Société des La Plagne (SAp – Société DES ALPES FOUNDED Téléphériques de la Grande d’Aménagement de la BY LA CAISSE DES Motte) and Peisey-Vallandry Plagne), Les Arcs (STAr – DÉPÔTS (STAG – Société des téléphé- Société des Téléphériques with the goal to bolster riques de l’Aiguille Grive) de l’Aiguille rouge) and the French Ski area consolidated under the Chamonix – Les Grands economic sector. acquisition policy. Montets (SATAl – Société d’Aménagement du Téléphérique Argentière-Lognan) consolidated. 2004/ 2004 2005 2004 2003 Serre Chevalier (SC 1350 – PRIVATIZATION Panorama Park Aquaparc Serre Chevalier 1350 and SCSd – Caisse des Dépôts et Consignations (Germany) and in Bouveret Serre Chevalier Ski (CDC) holds only 40% of CDA capital Pleasurewood (Switzerland) Développement) (compared to 53%). CDC sold 13% of Hills (England) consolidated. and Aletsch its stake to three banking groups with consolidated. Riederalp a strategic interest in the Alps region. (Switzerland) consolidated. 22 2005 2005/ 2006 2007/ 2006 2008 Planète Sauvage (Loire-Atlantique) Through a proactive Walibi Holland, The stake in Sofi val in 2008 was and Mer de Sable (Oise) acquisition policy, Walibi Belgium, the latest major capital-intensive consolidated. Compagnie des Alpes Aqualibi, Walibi development for Compagnie des was able to balance its Sud-Ouest, Alpes. It coincided with the businesses in that year Walibi Rhône-Alpes, Group’s acquisition of val d’isère and became a front-line Bellewaerde (STvi – Société de téléphérique player in leisure parks consolidated, and de Val d’isère). in Europe. Bioscope opened. 2012 Bioscope closed. 1989-2014 : FROM DIVERSIFICATION TO INTERNATIONAL EXPANSION 2012/ 2013 FONCIÈRE RÉNOVATION MONTAGNE LAUNCHED with the support of Compagnie des Alpes’ long-standing shareholders, with the aim to renovate 500 accommodation facilities (≈ 2,500 beds) and put them on the market for skiers. WorldReginfo - d739885f-21fd-4c37-9019-8a1b3d84ffbb 1994 1995 1996 1997 Compagnie des Minority stake taken Flaine, Samoëns, Morillon and Sixt Alpes fl oated on in Courmayeur (CMBF (Grand Massif) consolidated. the Second Marché Courmayeur Mont-Blanc of the Paris stock Funivie) and Val d’Aoste Menuires (SEVAbEl – exchange. (Italy). Société d’Exploitation de la Vallée des Belleville) consolidated. Méribel Alpina and Téléverbier 2002 (Switzerland) consolidated. 2000 DIVERSIFICATION Compagnie des Alpes diversifi ed its businesses by launching a friendly takeover bid of Grévin et Compagnie (group of 10 parks: Musée Grévin, Parc Astérix, France Miniature, Grand Aquarium de Saint-Malo, Mini Châteaux and Aquarium du Val de Loire, Bagatelle, Avonturenpark Hellendoorn and Dolfi narium in the 2001 Netherlands, and Fort Fun in Germany). Minority stake taken in Saas-Fee (SFb – Saas-Fee Bergbahnen, Switzerland). STRATEGIC REORIENTATION Reorganization undertaken to enable more 23 2009 industrialized and integrated operations across all sites, in line with the Company’s development ambitions. The stakes in operating companies in 2007/ Switzerland and Italy were sold. The Group currently has minority interest in four French 2008 companies: Chamonix (37.5%), Avoriaz (20%), 2009 Valmorel (20%) and La Rosière (20%). Minority stake taken concomitantly in Avoriaz, The 2 Alpes ski area Valmorel, La Rosière. (deux Alpes loisirs – dAl) joined Compagnie des Alpes. FINANCIAL RESTRUCTURING medium- and long-term bank debt refi nancing, ANNUAL REPORt 2014 ANNUAL REPORt capital increase of €100 million, 2010 and €200 million bond issue. 2011 2011 CDA MANAGEMENT’S INITIAL DEVELOPMENTS Futuroscope acquired, and controlling the fi rst contract for general contracting support and interest in a group of seven non-strategic operation support signed in its two business segments; leisure parks sold: Bagatelle, Aquarium one in Russia for the Rosa Khutor resort for the 2014 de Saint Malo, Mini Châteaux and Aquarium du Val de Loire, Winter Olympics in Sochi, and the other in Casablanca, Aquaparc at Bouveret in Switzerland, Avonturenpark Hellendoorn Morocco in the Leisure destinations business. in the Netherlands and Pleasurewood Hills in the United Kingdom. The Group still owned 27% of the capital of the buyer, Looping Holding (HIG Group) up until April 2014. 2013 2014 ■ The very first international ■ Grévin Prague opened in Grévin museum opened in the Czech Republic. Montreal, Canada. ■ Skigloo.fr online sales site l ■ International Development and New aunched in a partnership with Promovacances. Business Department created. ■ Sochi Olympic Games. ■ Alpes Ski Résa, the website for ■ Organization overhauled in the Leisure destinations mountain stay sales launched. department. WorldReginfo - d739885f-21fd-4c37-9019-8a1b3d84ffbb COMPAGNIE DES ALPES EXPANDS WITH STRONG BRANDS AND UNIQUE SITES S É O U L C A N A D A 24 PORTU GAL MORO CCO SINDIBAD – CASABLANCA (Open in 2015)
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