Third-Quarter 2014 Revenue (May 1st to July 31st, 2014)|Reuters

Fri Sep 5, 2014 12:44pm EDT

* Reuters just isn't responsible for the content material in this press release.

Club Méditerranée: Third-Quarter 2014 Income (May1st to be able to July 31st, 2014)

Regulatory News:

Club Méditerranée (Paris:CU):

3rd quarter 2014:

Business Volume Villages1: EUR321m - 4.9% in constant exchange rates

Group Revenue: EUR302m -4.0% at continuous exchange rates

RevPab: +1,7%

4&5 Trident clients weight: 69.1% + two points

Cumulative 9 several weeks 2014:

Business Volume Villages: EUR1,097m +0.3% in continuous exchange rates

Group Revenue: EUR1,062m +1.1% in constant exchange rates

Cumulative Summer bookings2at August 30: down 5.4% continuing to be impacted with a sharpdecline inside Europe-Africa and additionally by an adjusted capacity involving -5,8%.

Encouraging Winter 2015 bookings2.

I - BUSINESS PERFORMANCE

1) Enterprise Volume Villages

Â

Â

Â

Â

Â

Â

Â

At continuous exchange rates

(in EUR million)

Â

2013

Â

2014

% change

14 vs 13

First quarter

Â

340

Â

352

+ 3.3%

Second quarter

416

424

+ 2.0%

Third quarter

Â

338

Â

321

- 4.9%

Â

Year-to-date

1,094

1,097

+ 0.3%

For the first 9 several weeks in the fiscal 12 months (November 1, 2013 in order to July 31, 2014),enterprise volume totaled EUR1,097m in comparison in order to EUR1,094m in the prior-yearperiod, representing a new rise regarding +0.3% with continuous exchange rates. business has beendown 2.5% within reported information impacted by simply exchange rates.

1 Indicator in which very best represents the business: total sales regardless the actual operatingstructure

2 Total business volume Villages from constant exchange rate

In the 3rdquarter, enterprise volume had been down 4.9% at continuous exchange rates, impactedmainly from the sluggish economic environment, specifically in the French and Belgian markets.

Capacity has been adjusted downward through 4.6% worldwide within the 3rd quarter. ThroughoutEurope-Africa, capacity had been reduced by 10.9% getting into account i) your exit with the 3-Trident Villages regarding El Gouna (Egypt) as well as Hammamet (Tunisia), ii) the particulartemporary closure in the managed Village of Sinaï Bay (Egypt), and also iii) the particular non-reopening in the Village involving Belek (Turkey). Inside Asia, capacity elevated by practically 17%with the full-capacity opening with the Village regarding Guilin in China.

The proportion associated with consumers staying in the most upmarket villages (4 and also 5-Trident villages) continued to always be able to rise by simply two percentage points. Inside yourthird quarter associated with 2014, these people accounted with regard to 69.1% with the totalvariety of customers.

2) Revenue

Â

Group

Â

Villages

Â

Â

Â

Â

Â

Â

Â

Â

(in EUR million)

Â

2013

Reported

Â

2014

Reported

Â

2014 vs 2013

at continuous exchange rates

2014 vs 2013

at continuous exchange rates

First quarter

344

Â

344

Â

+ 4.3%

+ 3.7%

Second quarter

419

416

+ 2.4%

+ 2.7%

Third quarter

Â

317

Â

302

Â

- 4.0%

- 3.0%

Â

Year-to-date

1,080

1,062(1)

+ 1.1%

+ 1.3%

(1) Consists Of EUR4M revenues from property development vs EUR6M inside 2013 (among whichEUR1M in Q3 2014 vs EUR4M inside Q3 2013)

Group income inside the 3rd quarter involving 2014 totaled EUR302m in contrast to EUR317m inthe prior-year period, down 4.0% from constant exchange rates. Villages revenue (excludingproperty development revenue) with constant exchange rates was down 3% in the 3rd quarterinvolving 2014, reflecting your slowdown of business volume in the French as well as Belgianmarkets.

RevPab (revenue per available bed) was up simply by 1.7% with constant exchange rates inside the3rd quarter associated with 2014 thanks for the strong 5% improvement inside the average valueper resort day offsetting your slight fall within the occupancy price which stumbled on 64.4%.

II - THIRD QUARTER HIGHLIGHTS

The portfolio of Club Med Villages is actually continuing to go upscale:

1) Exit associated with Villages which no longer satisfy the upscale strategy

In range using its strategic objective of experiencing 3/4 of 4 a extended time old and 5-TridentVillages by the end of 2015, the particular Team performed i) your exit in July 18 of the pastseasonal 3-Trident Village regarding Val Thorens (France) of your capacity associated with 358 bedsalong with managed under a lease contract as well as ii) the particular definitive closure uponAugust 31, 2014 of the Village regarding Pompadour, the past seasonal 2-Trident Village, controlledunder any lease contract. These kind of exits occur following the sale within 2013 with the 3-TridentVillage regarding Dieulefit that ended up non-operated since 2004.

2) Further openings of upscale Villages aiming at the internationalization with the customers

Opening on June 20, 2014 of the 5-Trident room of the Village regarding Dong'ao Island, the firstChinese seaside resort, thereby turning out to be Club Méditerranée's third managed Villageinside China. Situated about an island off your coast regarding Hong Kong along with Macau, this 5-Trident room made up of 70 suites and two villas, is top-placed simply by Trip Advisor from 443hotels within the Zhuhai region. This particular very upscale resort is likely to be joined in 2015 bymethod of a 4-Trident Village with 267 rooms which includes 33 suites;

Completion associated with construction with the 4-Trident Village involving Val Thorens Sensationsin July 22, 2014. with capacity associated with almost 800 beds, your Village will open up aboutDecember 14, 2014 to end up being able to French and international clients, strengthening yourglobal leadership regarding Club Med within the segment of upscale all-inclusive mountain vacation;

Renovation of two 4-Trident Villages : Bali (Indonesia) which in turn now features a quiet pool and aspecialties restaurant as well as Cancun (Mexico) which in turn advantages from the capacityimprove with just about all the construction of 60 new rooms devoted to family members along usinga new restaurant;

Announcement of the opening about January 31, 2015 associated with 52 outstanding Villasthroughout Finolhu. Situated on an exclusive island, a few minutes away from the Village associatedwith Kani, these villas are usually an addition for you to this village's very upscale offer, thatcurrently includes a 5-Trident room consisting associated with 74 lagoon suites.

Implemented throughout Asia with regard to more than 30 years, Club Med will now counts 14Villages in this region.

3) Sale of CMAR shares

On July 1, 2014, Club Méditerranée completed your sale involving its 22.5% holding withinCMAR, any real-estate organization that will owns the actual Village of Albion inside Mauritius. Finalapproval in the Prime Minister involving Mauritius can be awaited prior to this transaction can befinalized.

III - POST THIRD-QUARTER-CLOSING HIGHLIGHTS

1) Public Tender Offer

On August 14, 2014, the actual initiators in the Gaillon Spend bid (Ardian as well as Fosun insidecooperation using the Management) made a determination to abandon the public tender provideupon Club Méditerranée launched on Might 27, 2013 at the price of EUR17.50 per share andalso EUR18.79 per OCEANE. However, they said that they continued to do something inside concert.

This selection followed your ruling by the French Autorité des Marchés Financiers (AMF) inAugust 13, 2014 around the compliance with the competing offer from Global Resorts SAS for yourcompany's shares at EUR21 for each talk about and also EUR22.41 per OCEANE.

The Global Resorts supply opened upon August 18, 2014 and is credited to seal about September 19,2014.

In practical terms, this implies an amendment to the allocation ratio involving shares temporarilyadjusted pertaining to holders of OCEANEs1, as associated with August 18, 2014 heading via 1.124Club Méditerranée shares pertaining to one OCEANE for you to 1.065 Club Méditerranéeshares for one OCEANE.

2) Renegotiation in August 6, 2014 in the existing Syndicated Line Regarding Credit (maturingDecember 2014) ("Amend & Extend")

Given the actual company's improved financial situation, the actual quantity with the collection hasbeen reduced coming from EUR100m to be able to EUR80m and additionally the conditionsimproved: specifically the actual margin, now different in the range in between 1.3% along with2.0% depending around the net debt/EBITDA ratio and additionally the elimination of the actualpledges around the asset securities provided as collateral. Your maturity has also been extended inorder to December 31, 2015. Right now there may be absolutely no alter towards the covenants orany other primary clauses in the syndicated credit rating agreement.

IV - OUTLOOK

Summer 2014 bookings for you to date, per issuing market

Â

Â

Â

Â

Â

Â

Â

Villages business volume in constant exchange prices simply by issuing region

Â

Year-to-date as regarding may 10, 2014 (1)

Â

Year-to-date as associated with August 30, 2014

Last 8 weeks

Europe-Africa

Â

- 4.6%

Â

- 7.6%

- 14.9%

Americas

+ 11.5%

+ 3.6%

- 11.2%

Asia

- 1.3%

+ 1.1%

+ 4.3%

Total Club Med

- 3.0%

- 5.4%

- 10.7%

Â

Â

Summer Capacity

- 4.6%

- 5.8%

(1) Launch about the 2014 interim results on Could 16, 2014

Cumulative bookings as regarding August 30, 2014, expressed running any business volume fromconstant exchange rates, are usually down 5.4% in comparison using Summer 2013, for a capacityadjusted through -5.8%. From the same time final year, over 90% in the total Summer bookings havebeen recorded.

3 Inside accordance with the listing particulars for the OCEANEs issued simply by ClubMéditerranée approved through the AMF upon September 28, 2010 under number 10-337

In the particular Americas, bookings to date tend to be up 3.6%, driven by simply great performancethroughout Canada. Bookings within Asia are up throughout latter weeks while continuing to beaffected from the disaffection regarding Chinese clients together with regards for you to Malaysiaand by a drop inside bookings for that village regarding Phuket thanks to political uncertainty inThailand.

In Europe-Africa, cumulative bookings in order to date are down 7.6% more than the particularseason, impacted by the closures of the Villages regarding Belek (Turkey), El Gouna (Egypt) alongwith Hammamet (Tunisia) as well as the temporary closure of the Village involving Sinaï Bay(Egypt).

Over the last 8 weeks, bookings are usually down 10.7%, impacted mainly from the 14.9% dropthroughout bookings within Europe-Africa.

Given the over mentioned elements so which as indicated inside the press launch in Might 16, 2014,Operating Earnings Villages regarding Summer 2014 will most likely be down below that relating toSummer 2013.

The business suggests that the economic information contained on this press launch is consistentwith the information provided concerning the ongoing public tender offer. However, the outlookregarding 2014 is actually down below the business enterprise program ready through the companyinside October 2013, which has been itself below your degraded model involving the businessprogram prepared in October 2012 except about the key indicators associated with EBITDA Villagesalong with Operating Earnings Villages which were in series (see pages 41 for you to 43 of theindependent expert's document appearing inside the note responding approved from the AMF uponAugust 12, 2014 under quantity 14-461).

Bookings to become able to date regarding Winter 2015

Bookings in order to date tend to be encouraging. they tend to be benefiting through an active earlybooking policy in most geographic regions. From the identical date last year, a lot more than thethird of winter season bookings had been recorded.

ANNEXES

Villages income in constant exchange rates, by region

Â

Q1

Â

Q2

Â

Q3

Â

Year-to-date as involving July 31

Â

Â

Â

Â

Â

Â

Â

Â

Â

Â

Â

Â

Â

Â

Â

Â

Â

Â

Â

Â

Â

Â

Â

Â

Â

(in EUR million)

Â

2013

Â

2014

Â

var %

Â

2013

Â

2014

Â

var %

Â

2013

Â

2014

Â

var %

Â

2013

Â

2014

Â

Chg 9 a few months %

Europe - Africa

224

Â

225

Â

0.3%

294

Â

301

Â

2.4%

232

Â

218

Â

-5.9%

750

Â

744

Â

-0.9%

Americas

61

66

9.0%

64

68

6.4%

38

41

8.3%

163

175

7.8%

Asia

Â

45

Â

51

Â

14.1%

Â

46

Â

46

Â

0.2%

Â

41

Â

43

Â

2.8%

Â

132

Â

140

Â

5.8%

Â

Villages

330

342

3.7%

404

415

2.7%

311

302

-3.0%

1,045

1,059

1.3%

Shareholding

Breakdown regarding discuss money along with voting rights with August 31, 2014

Â

Â

Â

Â

Â

Â

Â

Â

Number associated with shares

Â

Voting rights

Â

Â

August 31, 2014

Â

% capital

Â

August 31, 2014

Â

% VR

Fosun Property Holdings Restricted (1)

3,582,677

Â

9.98%

6,753,256

Â

16.9%

Ardian (Axa Capital)

2,982,352

8.3%

2,982,352

7.5%

Guo Guangchang

1,851

0.0%

3,702

0.0%

Henri Giscard d'Estaing

1,483

0.0%

1,533

0.0%

Subtotal

6,568,363

18.3%

9,740,843

24.4%

CMVT International (Groupe CDG Maroc)

2,250,731

6.3%

2,250,731

5.6%

Rolaco

1,793,053

5.0%

1,793,053

4.5%

Benetton

708,000

2.0%

708,000

1.8%

Caisse des Dépôts et Consignations (2)

1,908,492

5.3%

1,908,492

4.8%

Strategic Holdings

3,556,439

9.90%

3,556,439

8.9%

UBS AG London (3)

2,405,661

6.7%

2,405,661

6.0%

Crédit Suisse (4)

2,091,748

5.8%

2,091,748

5.2%

Moneta

1,767,087

4.9%

1,767,087

4.4%

Franklin Finance

1,500,000

4.2%

1,500,000

3.8%

Boussard & Gavaudan (5)

1,350,433

3.8%

1,350,433

3.39%

Air France

635,342

1.8%

635,342

1.6%

Tyrus Money (6)

0

0.0%

0

0.0%

Polygon Global Partners (7)

0

0.0%

0

0.0%

GLG Partners LP (8)

3,401

0.01%

3,401

0.0%

French institutions (9)

3,214,212

9.0%

3,214,265

8.1%

Foreign institutions (9)

4,308,333

12.0%

4,984,435

12.5%

Treasury stock (10)

208,804

0.6%

208,804

0.5%

Employees

23,520

0.1%

47,040

0.1%

Public among others (9)

1,612,216

4.5%

1,704,864

4.3%

TOTAL

Â

35,905,835

Â

100%

Â

39,870,638

Â

100%

(1) Almost All voting rights associated with Fosun are once again exercisable coming from July 31,2014

(2) Caisse des Dépôts et des Consignations additionally owns 994,805 convertible bonds

(3) Shares held beneath the duvet associated with CFDs issued through the bank to end up beingable to its customers

(4) Regarding that 2,007,703 shares held to hedge the actual 2,007,703 CFD issued by the bank forthe account of its customers

(5) Involving wich 361,167 CFD. Boussard & Gavaudan furthermore owns 252,608 shares and38,540 CFD for each delegation

(6) Tyrus Money owns 1,847,368 CFD

(7) Polygon owns 2,754,431 CFD

(8) GLG Partners furthermore owns 296,761 CFD

(9) When applicable, excluding shares as well as voting legal rights associated with CFD

(10) Treasury shares pertaining to that voting rights can not necessarily be exercised

Â

Â

NB : any "financial contract regarding differences" as well as "CFD" is a economic instrument bysimply that term the investor acquires the proper to become able to collect the real differencebetween your expense of your underlying at the period of conclusion in the contract as well as priceabout the exercise date

Threshold crossings since the announcement regarding half-year outcomes (May 16, 2014)

Shareholder

Â

Date

Â

Nb associated with shares

Â

% K

Â

% VR

Â

Threshold crossed

Strategic Holdings S.Ã .r.l.

5/14/2014

2,179,711

7.92%

7.12%

Above 7% VR

Strategic Holdings S.Ã .r.l.

5/15/2014

2,777,193

8.32%

7.48%

Above 8% K

Strategic Holdings S.Ã .r.l.

5/19/2014

3,359,828

10.07%

9.05%

Above 10% K

Strategic Holdings S.Ã .r.l.

Â

8/12/2014

Â

3,359,828

Â

9.92%

Â

8.93%

Â

Below 10% K et 9% VR

Boussard & Gavaudan Asset Management

Â

5/19/2014

Â

1,489,752

Â

4.46%

Â

4.01%

Â

Below 5% K

Polygon Global Partners

5/29/2014

1,875,452

5.62%

5.05%

Above 5% VR

Polygon Global Partners

6/10/2014

2,026,726

6.02%

5.38%

Above 6% K

Polygon Global Partners

Â

7/1/2014

Â

2,409,366

Â

7.10%

Â

6.36%

Â

Above 7% K et 6% VR

Crédit Suisse

5/15/2014

1,791,411

5.37%

4.82%

Below 5% VR

Crédit Suisse

5/19/2014

1,468,283

4.40%

3.95%

Below 5% K

Crédit Suisse

Â

7/7/2014

Â

1,719,460

Â

5.07%

Â

4.54%

Â

Above 5% K

UBS

5/15/2014

1,849,260

5.54%

4.98%

Below 5% VR

UBS

5/16/2014

1,879,260

5.63%

5.06%

Above 5% VR

UBS

5/20/2014

1,850,797

5.54%

4.98%

Below 5% VR

UBS

5/27/2014

1,877,083

5.62%

5.06%

Above 5% VR

UBS

5/29/2014

1,848,042

5.54%

4.98%

Below 5% VR

UBS

Â

6/13/2014

Â

1,883,504

Â

5.59%

Â

5.00%

Â

Above 5% VR

Caisse des Dépôts et Consignations

Â

8/6/2014

Â

1,908,492

Â

5.33%

Â

4.79%

Â

Below 5% VR

Club Méditerranée

Press:

Caroline Bruel, + 33 (0) one 53 35 31 29

Caroline.Bruel@clubmed.com

or

Analysts:

Pernette Rivain, + 33 (0) one 53 35 30 75

Pernette.Rivain@clubmed.com