Sustainable development is almost mandatory What are your agreements with the StateATypically more arid the dob has been a festival of good wordsAt the close the S P 500 has fallen by 1Will this period of relative calm last NonHowever it will be difficult to reconcile the interests of eachIts recommendations are usually followed by the Government433 specifically that the opposition had filedAcross the Atlantic the crisis contracted bond of communitiesHis way Alice Dautry is a child of May 1968Do you not take a risk by launching this capital increase in a volatile stock market context, while the situation of the company is degraded by the crisis
Non. This is not a risk. It is the way to strengthen our financial structure, reduce our debt and increase our financial room for manoeuvre. We are launching the with the support of our major industrial of long-standing shareholders, and with the support of two shareholders, who are part of the history of the Club, the Caisse des Dépôts and Consignations (CDC) and Crédit Agricole. In addition, it occurs at attractive conditions. Finally, it is accompanied by a significant reduction of costs and investment program.
Is this an anti-Tapie operation, the businessman criticizing your strategy and said he was concerned by a possible entry into the capital
Such a transaction is reflected and prepared for months. It seems necessary to recall that, in its strategy of Upselling, Club Med has invested 400 million euros over three years on its own funds. In parallel, we had the desire to control our debt and have a solid financial situation, from which real estate operations of "sell and leaseback" disposals walls accompanied by lease, Editor's note and the sale of two activities that were more strategic, Jet tours and Club Med Gym. With the global financial crisis, it became clear that we must increase our own funds.
The capital of the Mediterranean Club remained extremely open. Do you have a block of reference shareholders today
It should be noted the quality of the shareholders who support us for so long, and appropriate to reinforce their presence on this occasion. Rolaco, fund deposits and management of Morocco and Air France are industrial shareholders. As the CDC, for a long time, it has always been present with us in one way or another. We have even an industrial with it since it codétient our village of the Buccaneers in Martinique and has contributed to the financing of its renovation. For its part, the Credit Agricole is the traditional banker of the Club. However, we remain open to partnerships including with capital link. I wish also to a partnership in China by the end of the year, which could include a local capital component. At this point, the terms and conditions are not laid down.
Will taking into account the activity and the loss at the beginning of the year, Club Mediterranee become deficit in 2008-2009
Despite the crisis, the operational profitability of activity Villages is maintained in the first half. We also have a net of 20,000 people on our 4 villages customers and gain 5 Tridents. Our policy work and resists the economic model. However, we still have to incur costs related to the finalization of the rise in range, temporary closures of some villages, and the definitive closure of Bora Bora. Moreover, the situation in Guadeloupe forced us to close the village of La Caravelle. In addition, in the context of wait more and more marked on the part of customers, summer is undoubtedly more difficult commercial even if there is a massive phenomenon of last-minute reservations. By contrast, there is an effect of more favourable base at year-end 2008.
Is the relief of the Club Med on the North American market compromised with the crisis Remains strategic while your commercial potential is in Asia
Summer booking numbers are not necessarily very revealing. They are impacted by the effect of influenza A. The village of Punta Cana in Dominican Republic, that we have renovated, is one of the most profitable today. From Cancun to the Mexico was a beautiful winter season until its temporary closure. Activity progresses to Ixtapa. The Club, world specialist of holidays all inclusive, high range, friendly and multicultural, has a place on the North American market.
You have to talk about A flu pandemic. What is ultimately its impact
We are vigilant and have taken all measures to protect our customers and our GO. At the same time, we must strive to remain cautious because, in this matter, all goes very quickly. The time of a weekend we were in a global phenomenon. Earlier this week, its impact was more limited. For the short term, the outbreak occurred at a time that does not correspond to high season.
