SAM Magazine--Snow24--July 28, 2009--The Compagnie Des Alpes (CDA), the world's largest ski lift operator with more than a dozen leading French ski areas, has released its third quarter results, which include the last month of the 2008-09 ski season--April 2009.

The group reported record business with ski-lift ticket sales up 38 percent, thanks mostly to Easter weekend, which fell during the month. Thanks to the strong April business, combined sales for winter 2008-9 were up 3 percent overall for the company--2.3 percent for ski lift ticket sales alone--from 2007-8, which was a record season in terms of visitor numbers.

"This steady activity in ski areas despite the general economic climate illustrates the resilience of our business line, which has experienced uninterrupted organic growth for more than ten years." said a company statement.

In addition the company reported that its wholly owned subsidiary SwissAlp SA, has reached an agreement with the municipality of Bagnes to sell the totality of its stake in Téléverbier SA (20.3 percent) for about 13.8 million Euros.

"Acquiring its stake in 1999, CDA brought its widely recognized expertise to Téléverbier's development and governance. However, CDA has since determined that the particularities of the company and its environment prevent CDA from fully carrying out its role of industrial operator in the medium term." said a company statement.

The proceeds from the sale will be used to pay down debt.

\

• Previous
  Santa Fe Gets More Flights This Winter
• Next
  SAM on the Road--Heavenly ZipRider