Club Med Shows Improvement in Sales, Earnings for Third Quarter 2012

The third-quarter 2012 financial results have been announced with positive figures, specifically for Club Med North America. Snapshot of key figures for North America: +6.4 percent increase in bookings and +4.8 percent increase in additional 4 and 5-Trident customers (for Club Med worldwide).

For the first nine months of the year (1 November 2011 to 31 July 2012), business volume amounted to 1,149 million euros versus 1,119 million euros in the prior-year period, up 2.7 percent at constant exchange rates and the number of customers is up 18,000 (of which 42,000 4 and 5-Trident customers).

Capacity was reduced by 2 percent over the quarter, of which reductions of 7.1 percent in Asia (including the permanent closure of Lindeman Island in Australia) and 1.6 percent in Europe-Africa, including in particular the permanent closure of the Coral Beach Village in Israel and a proactive scale-back in capacity to reflect the expected deterioration in the European tourist markets.

The number of customers declined to 325,000 from 331,000, a 2 percent decrease in line with the 2 percent reduction in capacity. The number of 4 and 5-Trident customers continued to increase, by 4.8 percent, adding 9,000 additional guests. They accounted for 62.5 percent of all customers, a four-point increase over the 58.5 percent recorded in third-quarter 2011.

Consolidated revenue stood at 332 million euros versus 323 million euros in third-quarter 2011, up a reported 2.7 percent.

Villages revenue (excluding property development revenue) increased by 0.6 percent at constant exchange rates in the third quarter, as an improvement in average price which offset a 0.9 percent decline in the number of hotel days.

Year-to-date summer 2012 bookings are 1.1 percent ahead of the summer 2011 figure. Bookings in the Americas are up 6.4 percent. Asia is impacted by the permanent closure of Lindeman Island. Excluding this village, bookings in Asia are up 0.9 percent to date, lifted by a 16 percent increase in the number of Chinese customers. Bookings in the Europe-Africa region are stable despite the decline in European tourist markets.