European Update: Company Des Alpes Increases Sales Despite Decline in Skier Visits

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SnowHunter--UK, January 9, 2007-- The Compagnie des Alpes Group (CDA), the world's largest ski lift operator by visitor numbers and the operator of 18 of the leading ski resorts in France and some other countries, has announced consolidated revenue of 505.7million Euros represented a 4.3% increase within comparable consolidated structure.

Ski area sales (55% of the consolidated total) rose by 3.3% on a like-for-like basis. The gain stemmed from lift revenue of 266m Euros (+0.2%) and substantial property sales of 12.2m Euros (versus 4m Euros in the previous fiscal year).

CDA's ski areas are located at high altitudes and enjoyed good ski conditions throughout the "difficult" 2006-7 season. While French market volume contracted by 14% (source: SNTF), CDA's attendance declined by just 3.4%.
"This once again underscored the relevancy of CDA's strategic decision to invest only in high altitude properties." said a company statement.

The company is expecting to report a strong performance for 2008 thanks to the full integration of STVI (Val d'Isère's lift company); the roll out of approximately 1,300 new beds with strong overall occupancy; and a probable attendance rebound from the 2006-07 decline.