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Investing.com -- CDA stock surged on Thursday after the company announced it has secured the renewal of the La Plagne ski resort concession for 25 years following a competitive tender process.
The new Public Service Delegation contract will take effect on June 11, 2027, when the current concession ends, and will run until 2052. La Plagne, considered CDA’s crown jewel, generates over €100 million in annual revenue and more than €35 million in EBITDA, representing approximately 10% of the group’s total turnover and profitability.
The renewal was not guaranteed, as several French and international competitors, including North American ski resort giant Vail Resorts, submitted bids for the concession. La Plagne is the world’s largest ski resort, recording 2.6 million skier-days annually, with 79% of its terrain situated above 2,000 meters, providing resilience against climate variability.
Kepler analysts noted: "This win will be well received by investors, particularly given the apprehension that followed the recent loss of the Tignes concession. Securing La Plagne removes a major overhang and should restore confidence in CDA’s ability to defend and renew its strategic assets."
The successful bid ensures long-term visibility and stability for CDA’s operations at one of its most valuable mountain assets, with profitability conditions aligned with the group’s standards.
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