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Club Med Reports Third-Quarter 2013 Revenue
1. Club Med Reports Third-Quarter 2013 Revenue
MIAMI--(BUSINESS WIRE)--Commenting about Club Med's performance inside North America,
President and also Chief Executive Officer, Xavier Mufraggi said:
"The financial outcomes in the third-quarter of 2013, which demonstrate the 6% boost in income
inside the Americas, illustrate that will despite today's harsh economic climate, Club Med carries on
to be any leading force in the all-inclusive vacation industry. Exceedingly a lot more U.S. as well as
Canadian travelers tend to be looking for different vacation alternatives outside of the Caribbean
and Mexico, and also together with 71 all-inclusive resorts worldwide, Club Med holders poised to
satisfy this demand. The Particular ski market indicates specifically great potential, with the
announcement of the newest mountain resort, Val Thorens, set to open throughout Dec. 2014.
Additionally, Club Med differentiates itself by means of innovative item offerings for families, such
because the Active Wellness program offered by Sandpiper Bay, Fla., along with our competitive
pricing strategy, 'Kids Below 4 stay Free,' which has previously established great success since its
Could debut."
I - BUSINESS PERFORMANCE
1) Company volume
For the initial nine a couple of months of year (November 1, 2012 in order to July 31, 2013),
company volume amounted to be able to EUR1,125 million versus EUR1,133 million within the prior-
year period, down 0.8% at continuous exchange rates.
In the actual third quarter, business volume rose simply by 0.3% with constant exchange prices
because of to the positive impact of the Easter holidays inside May, offsetting the actual decline in
business performance within July, specifically inside the French market.
Capacity has been adjusted downward by simply 4.5% over the particular third quarter to handle the
downturn within the economic situation, with a 7.5% drop throughout Europe-Africa (including the
particular permanent closure with the 3-Trident seasonal villages regarding Otranto inside Italy and
also Beldi throughout Turkey, your temporary closure of Chamonix within France, the extension with
the closure involving Djerba-La Fidèle within Tunisia, as well because the opening with the 4-Trident
villages involving Belek inside Turkey and Pragelato Vialattea throughout Italy).
The quantity of consumers declined to become able to 319,000 through 325,000 over the actual
quarter, down 1.7% for any 4.5% reduction inside capacity (of which usually a new reduce of 12,000
consumers within Europe-Africa, down 5.4% for any capacity reduction regarding 7.5%). The Actual
quantity of 4 as well as 5-Trident customers continued in order to increase, using 11,000 further
visitors (of that 4,300 consumers in Europe-Africa), or possibly an boost associated with 5.3%. That
They accounted pertaining to 67.1% of most customers, the 4.5 point increase more than the 62.6%
recorded in the third quarter 2012.
2) Revenue
Group revenue in the third quarter 2013 stood in EUR317 million versus EUR332 million within the
2. prior-year period, down 1.5% at constant exchange rates.
Villages revenue (excluding property development revenue) declined simply by 2.1% at constant
exchange prices in the third quarter, reflecting your slowdown in operation within July as well as the
elevated excess weight of managed villages subsequent the actual opening of Belek within Turkey.
II - THIRD-QUARTER HIGHLIGHTS
Further share of the market gains inside France in the continued deteriorating market
In any deteriorating French People industry down 1.4% (in enterprise volume) in accordance with
CETO1 data, subsequent your departures through Might in order to July 2013, Club Méditerranée is
constantly on the gain industry shares along with steady growth up 0.1% based about the same
criteria. However, in the Teams market, Club Med Company provides suffered from the marked drop
inside its business volume, which achieved record levels a 12 months ago as a new result of number
of special transactions.
Successful opening involving Belek within Turkey
On June 13, 2013, Club Méditerranée inaugurated the actual 4-Trident village involving Belek inside
Turkey that will opened on April 20, 2013. Within the actual third quarter, this managed village
attracted 29 various nationalities (including 46% French customers) and recorded an occupancy
price near 90%.
3-year renewal involving partnership with Transavia France
Club Méditerranée offers renewed its 3-year partnership using Transavia France to become able to
transport its customers about medium-haul flights. This particular partnership, which in turn
entered 2007 using the creation of Transavia, aims with strengthening consumer relations by
providing high-quality customized products, particularly by simply developing departures outside
regarding the Paris area and by adapting commitments and also capacity.
This 3-year renewal of the partnership offers both companies visibility as well as stability and also
delivers prospects of developing the environment programs.
III -POST THIRD-QUARTER CLOSING HIGHLIGHTS
3. Update on the tender offer
On July 16, 2013, your Autorité des Marchés Financiers (French Markets Authority, "AMF") cleared
your tender offer from Gaillon Spend for Club Méditerranée's shares and also OCEANEs (bonds
convertible and/or exchangeable in to new or even current shares).The tender supply has been
opened upon July 17, 2013.
Following the particular appeals filed with the Paris Court associated with Appeal in July 24 and 26,
2013 seeking annulment associated with its decision, the particular AMF announced upon August 6,
2013 the extension of the tender offer, which in turn ended up being initially supposed to close in
August 30, 2013. in practice, the particular closing of the tender supply is actually deferred at least
eight times following your Court judgment about the annulment appeals is delivered.
Laying of the initial basis stone within Val Thorens
On August 28, 2013, the extremely first groundwork stone in the 4-Trident village involving Val
Thorens, which is expected to open within December 2014, was laid. This 384-room village, located
in the highest station in the prestigious French ski area with the 3 Vallées, represents a total
investment of EUR80 million. The idea will most likely be operate through Club Méditerranée
beneath a new 12-year renewable lease agreement and can create around 240 direct jobs.
IV - OUTLOOK
Year-to-date Summer 2013 bookings, by issuing market
Year-to-date bookings in operation volume with September 7 get slightly increased more than last
summer through 0.7% in constant exchange rates, having a 3.8% reduction in capacity. at the
identical sate last year, year-to-date bookings represented more than 90% of the total for the entire
Summer 2012 season.
Year-to-date bookings are usually up inside the Americas plus Asia:
In your Americas, bookings are generally up 6% specifically credited towards the strong sales inside
the United-States. The Particular reduce involving 5.2% over the past eight weeks is born to the
phasing inside team bookings in Brazil.
In Asia, bookings are up 8.4% thanks primarily for you to fast developing economies, specifically
China, exactly where bookings are usually up by simply more than 28%.
Year-to-date bookings in the Europe-Africa club med,club med bali,honeymoon packages,family
holiday packages,club med phuket,maldives holiday,lindeman island,lindeman island,maldives
holiday packages,last minute holidays,finolhu villas,bali all inclusive,sahoro all inclusive,cherating
beach all inclusive,kani all inclusive,phuket all inclusive,bintan island all inclusive,guilin all
inclusive,kabjra beach all inclusive,valmorel all inclusive region are generally down 1.3% for your
season, due for the outcomes of your sustained deterioration in the European markets, especially
inside the French industry which, according towards the most recent CETO figures obtainable
following July for your summer season, will be down 6.6% running the business volume.
Over days gone by eight weeks, bookings tend to be down 22.1%, accounting for a drop running the
business volume involving around EUR10 million. the lower in these times is born in order to
reduced interest in associated with Egypt and also Tunisia's locations as well as the continuing
4. downturn in the French market.
Encouraging Winter 2014 bookings
Bookings to date are usually encouraging and possess benefited through an active early booking
policy in all geographic regions. From the same date final year, greater than the third involving
winter bookings ended up booked.
1 French Tour Operators Association
http://www.businesswire.com/news/home/20130913005631/en/Club-Med-Reports-Third-Quarter-201
3-Revenue