Compagnie des Alpes : H1 results well ahead of expectations prompt us to substantially upgrade our EPS estimates – Outperform vs Neutral
>H1 2021-22 results already well ahead of 2018-19, even excluding one-offs – financial leverage back at a very acceptable level - CDA’s H1 results largely beat expectations and should drive significant full-year results upgrades for the consensus. Key points to note: On already-reported H1 sales of € 541m up 16% vs H1 2018-19 (last normalised year), group EBITDA advanced by 52% and came in at € 230m while we expected € 173m and vs € 152m in H1 2018-19. Various on...Compagnie des Alpes SA is a France-based holding company active in the tourism and leisure industry in two distinct areas: the operation and maintenance of ski resorts and the operation of family leisure parks and attractions. It equips, maintains and operates ski resorts in the Alps region in France, Italy and Switzerland. Its activities include lift handling, trail maintenance, grooming and snowmaking, and operation of ticket booths. Compagnie des Alpes SA is active in the leisure park industry through its subsidiary, Grevin & Cie SA, which manages leisure sites in France, the Netherlands, Germany, Belgium, Switzerland and the United Kingdom. It offers three types of activities: theme parks, nature and animal parks, and tourist attractions. It operates in France, Switzerland, Germany, Belgium, Russia and Luxembourg. In April 2014, it sold 30% stake in Groupe Looping to HIG Capital France, and announced the agreement with MacEarth and the aquisition of 2.5% stake in the company.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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