Compagnie des Alpes, a leading name in the leisure industry, has shared the minutes of its annual shareholder meeting. The meeting was held on March 25, 2021.

In his address to the meeting, Dominique Marcel, chairman and CEO of Compagnie des Alpes, noted how on January 21, 2021, the Group had announced that its leisure parks had lost sales since the start of the season, which totalled more than 50m euros compared to the 2018/2019 year.

Factoring in the likelihood that most of its sites would remain closed throughout the second quarter, the total amount of lost sales is around 65m euros. Additionally, the closure of all Compagnie des Alpes sites in April will generate an additional loss of sales of around 40m euros.

Marcel also noted how, considering the sites had been fully closed, thanks to the efforts undertaken by the Group since the start of the current financial year, Compagnie des Alpes would be able to offset the lost sales.

It will achieve this by reducing operating expenses by at least 30% for its two main business lines – leisure parks and ski areas, and excluding the offer of indemnification compared with the range of 25% to 30% previously indicated.