Templates

Strategy and Resources

Club Med’s Sandpiper Bay revolves around the idea of bringing dreams,

happiness, and friendship to all of their

customers

Rare Valuable Difficult to Inmate non-‐subsBtutable

ExoBc Natural Environment

Upscale Resort FaciliBes

Designed for the whole family

CompeBtors

CharacterisBc

Resources Market

Similar Price

Family

ExoBc Environment

Various FaciliBes

Not Truly All-‐inclusive

On November 28 at 5:35 PM CET Club Mediterranee (CMIP) closed at 23.90 EUR a €0.15 (+0.63%) price increase (% change) from the previous lisNng price and 0.83% below its 52 week high of 24.10, which was set on November 10, 2014. However it went high to 24.10 per share, with the v a l u e o f 1 1 3 4 4 transacNons, and the earning per share is -‐0.43, share value has gone down in the whole last year.

Income Statement Period Ending: 2013

31/10 2012 31/10

2011 31/10

2010 31/10

Total Revenue 1400 1456 1416 1349 Revenue 1400 1447 1409 1336 Other Revenue, Total - 9 7 13

Cost of Revenue, Total 537 562 545 502 Gross Profit 863 885 864 834 Total Operating Expenses 1386 1434 1390 1336 Selling/General/Admin. Expenses, Total 469 482 460 464 Research & Development - - - - Depreciation / Amortization 64 65 66 68 Interest Expense (Income) - Net Operating - - - - Unusual Expense (Income) 25 33 29 21 Other Operating Expenses, Total 291 292 290 281

Operating Income 14 22 26 13 Interest Income (Expense), Net Non-Operating -9 -11 -16 -21 Gain (Loss) on Sale of Assets - - - - Other, Net -2 3 - -1 Net Income Before Taxes 3 14 10 -9 Provision for Income Taxes 14 14 9 8 Net Income After Taxes -11 - 1 -17 Minority Interest -2 -1 -1 -2 Equity In Affiliates 2 2 1 3 U.S GAAP Adjustment - - - - Net Income Before Extraordinary Items -11 1 1 -16 Total Extraordinary Items - - - - Net Income -11 1 1 -16 Total Adjustments to Net Income - - - - Income Available to Common Excluding Extraordinary Items -11 1 1 -16 Dilution Adjustment - - - - Diluted Net Income -11 1 1 -16 Diluted Weighted Average Shares 31.63 31.67 30.25 31.55 Diluted EPS Excluding Extraordinary Items -0.35 0.03 0.03 -0.51 DPS - Common Stock Primary Issue - - - - Diluted Normalized EPS 0.17 0.71 0.66 -0.07 * In Millions of EUR (except for per share items)

Balance Sheet Period Ending: 2013

31/10 2012 31/10

2011 31/10

2010 31/10

Total Current Assets 271 273 282 377 Cash and Short Term Investments 66 64 56 171 Cash 59 52 50 163 Cash & Equivalents 7 12 6 8 Short Term Investments - - - - Total Receivables, Net 100 96 103 96 Accounts Receivables - Trade, Net 39 46 55 47 Total Inventory 34 34 30 28 Prepaid Expenses 71 67 56 55 Other Current Assets, Total - 12 37 27

Total Assets 1216 1268 1274 1430 Property/Plant/Equipment, Total - Net 743 803 801 847 Property/Plant/Equipment, Total – Gross 1443 1479 1435 1486 Accumulated Depreciation, Total -700 -676 -634 -639 Goodwill, Net 31 31 30 32 Intangibles, Net 51 49 49 54 Long Term Investments 91 90 92 100 Note Receivable - Long Term - - - - Other Long Term Assets, Total 29 22 20 20 Other Assets, Total - - - -

Total Current Liabilities 486 501 460 594 Accounts Payable 121 117 110 120 Payable/Accrued - - - - Accrued Expenses - 84 70 75 Notes Payable/Short Term Debt 42 25 17 15 Current Port. of LT Debt/Capital Leases - 22 16 155 Other Current liabilities, Total 323 253 247 229

Total Liabilities 801 809 826 978 Total Long Term Debt 151 136 188 198 Long Term Debt 150 134 188 195 Capital Lease Obligations 1 2 - 3 Total Debt 193 183 221 368 Deferred Income Tax 45 49 49 50 Minority Interest 54 62 64 64 Other Liabilities, Total 65 61 65 72

Total Equity 415 460 448 452 Redeemable Preferred Stock, Total - - - - Preferred Stock - Non Redeemable, Net - - - - Common Stock, Total 127 127 121 121 Additional Paid-In Capital 292 611 604 604 Retained Earnings (Accumulated Deficit) -4 -278 -277 -273 Treasury Stock – Common - - - - ESOP Debt Guarantee - - - - Unrealized Gain (Loss) - - - - Other Equity, Total - - - -

Total Liabilities & Shareholders' Equity 1216 1269 1274 1430 Total Common Shares Outstanding 31.66 31.59 30.03 30 Total Preferred Shares Outstanding - - - -

Ratio Comparison Name Company Industry Valuation Ratios P/E Ratio TTM - 54.08 Price to Sales TTM 0.55 1.45 Price to Cash Flow MRQ 36.61 38.89 Price to Free Cash Flow TTM 19.22 24.08 Price to Book MRQ 1.79 2.33 Price to Tangible Book MRQ 2.15 3.97

Profitability Gross margin TTM 61.53% 89.48% Gross Margin 5YA 61.65% 89.25% Operating margin TTM 1.07% 6.61% Operating margin 5YA 0.79% 3.2% Pretax margin TTM 0.07% 5.05% Pretax margin 5YA -0.36% 1.93% Net Profit margin TTM -0.93% 2.92% Net Profit margin 5YA -1.03% -0.71%

Per Share Data Revenue/Share TTM 44.1 38.83 Basic EPS -0.35 1.25 Diluted EPS -0.35 1.25 Book Value/Share MRQ 13.33 35.42 Tangible Book Value/Share MRQ 10.76 30.4 Cash/Share MRQ 1.84 8.83 Cash Flow/Share TTM 3.7 4.39

Management Effectiveness Return on Equity TTM -2.84% 4.22% Return on Equity 5YA -3.3% -1.64% Return on Assets TTM -1.05% -3.43% Return on Assets 5YA -1.07% -0.37% Return on Investment TTM -1.89% 2.64% Return on Investment 5YA -1.9% -0.68%

Growth EPS(MRQ) vs Qtr. 1 Yr. Ago -11.35% 72.42% EPS(TTM) vs TTM 1 Yr. Ago -784.42% 241.49% 5 Year EPS Growth - -25.14% Sales (MRQ) vs Qtr. 1 Yr. Ago -0.53% -1.15% Sales (TTM) vs TTM 1 Yr. Ago -2.99% -1.43% 5 Year Sales Growth -1.26% -5.48% 5 Year Capital Spending Growth -13.68% -19.42%

Financial Strength Quick Ratio MRQ 0.49 1.55 Current Ratio MRQ 0.55 1.58 LT Debt to Equity MRQ 23.08% 65.74% Total Debt to Equity MRQ 33.48% 70.34%

Efficiency Asset Turnover TTM 1.13 0.72 Inventory Turnover TTM 15.57 10.06 Revenue/Employee TTM 236.49K 181.14K Net Income/Employee TTM -2.20K 3.02K Receivable Turnover TTM 28.2 13.39

Dividend Dividend Yield - 2.03% Dividend Yield 5 Year Avg. - 2.61% Dividend Growth Rate - 8.36%

FRANCE PORTUGAL TUNISIA SWITZERLAND JAPAN UNITED-STATES BRAZIL MOROCCO BAHAMAS INDONESIA DOMINICAN REPUBLIC MEXICO CHINA ITALY MOROCCO GREECE EGYPT MALDIVES BRAZIL MARTINIQUE FRANCE EUROPE

CHINA BRAZIL GREECE MEXICO

TURKEY EGYPT

MAURITIUS GUADELOUPE

, THE CARIBBEAN INDONESIA MALDIVES BAHAMAS

TUNISIA TURKEY SWITZERLAND

ITALY THAILAND FRANCE SENEGAL JAPAN DOMINICAN REPUBLIC NAMIBIA

Europ BRAZIL UNITED-STATES OF AMERICA 80 Villages

38 CounBes 5 ConBnents

3-‐Trident 4-‐Trident 5-‐Trident

Andrea Bonomi (Italian KKR)

1st Bid-‐ 21$ per share 2nd Bid -‐23$ per share Insists posiBon Club Med downgrade to lower-‐scale

Loose all-‐inclusive vacaBon concept.

Guo,Guangchang (Chinese Fuson)

Bid – 22 per share

- Empower French Management

- Respect Club Med culture

Before 2002, Club Med was intended to serve as a bar and restaurants complexes in a club. It was also considered as a budget resort which targeted young adults.

Henry Giscard, Club Med CEO

MIAMI, FL -‐ Xavier Mufraggi, CEO of Club Med North America comments on the fiscal 2014 results as a reflecNon of Club Med's consistent success in the U.S. saying: "For the fourth consecu.ve year, Club Med North America is pleased to announce yet another record in profit driven by a significant double digit growth of our topline and a remarkable over 20 ….

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