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Club Med still in the red, Giscard d'Estaing: "We will return to profit in 2015"

The group disputed by the Chinese of Fosun and the Italian Andrea Bonomi records a loss of 9 million in the 2013-14 financial year – The villages are down but the high range is growing.

Club Mediterranean, on which he recently relaunched the counter-takeover bid the Italian financier Andrea Bonomi, closed again in the red in the 2013-2014 financial year, once again recording a loss of 9 million euros, as in the previous figure. On the result – he explains Club With in a note – extraordinary charges amounted to 13 million for the closure or leaving of non-strategic villages and another 6 million for other extraordinary costs.

The consolidated turnover of the French group, still at the center of a bid dispute between the Chinese of the Fosun fund and the consortium led by Andrea Bonomi's Investindustrial, fell at constant exchange rates by 1,9% to 1,38 billion, while the turnover of the villages alone was 1,37 billion (-0,2%) at constant exchange rates.

The volume of activity of the villages decreased by 1,2% to 1,43 billion (-3% at effective exchange rates). The operating profit for the year ended October 31 decreased to 13 million from 14 million. Village EBITDA is stable at 118 million, with a margin of 8,6% (from 8,4%). 73% (+0,4%, or +5.200 customers to 901) of customers concentrated on high-end resorts.

"Club Med – commented the president Henri Giscard d'Estaing -, despite a difficult context, it managed to maintain its operating profitability by continuing its strategy of increasing the range. In 2015 this strategy, together with the significant drop in non-recurring costs linked to the exit from non-strategic villages should allow the company to score a positive net result at the equivalent activity level”.

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