April 23, 2020 / 5:29 PM / a month ago

BRIEF-Compagnie des Alpes H1 Revenue Down At 470.5 Million Euros

April 23 (Reuters) - COMPAGNIE DES ALPES SA:

* H1 REVENUE EUR 470.5 MILLION VERSUS EUR 498.2 MILLION YEAR AGO

* AS OF MARCH 31, NET DEBT WAS EUR 465.3 MILLION

* CHIEF EXECUTIVE OFFICER DECIDED TO REDUCE HIS FIXED COMPENSATION BY 20%

* ESTIMATES TO BE ABLE TO REDUCE FY CAPEX BY ABOUT 30 MILLION EUROS

* EARLY CLOSURE OF SKI RESORTS THUS ELIMINATED SALES FOR THE SECOND QUARTER DURING A TWO-AND-A-HALF-WEEK

* CHAIRMAN DECIDED TO LOWER HIS FIXED COMPENSATION BY 20%, WHILE OTHER MEMBERS OF EXECUTIVE COMMITTEE AS WELL AS SITE MANAGERS DECIDED ON 15 % AND 10% DECREASES IN THEIR PAY, RESPECTIVELY

* SKI RESORTS: SALES FOR THE SECOND QUARTER THUS DECLINED BY €39.9 MILLION Y/Y Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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