Financial ImpactThe proposed tax could have a financial impact on the group, with an estimated €20-25m in new taxes for CDA, amounting to 4-5% of its ski sales.
Regulatory RisksThe Cour des Comptes recommends increasing taxes on ski lifts to finance a climate change adaptation fund, which represents a new risk for the ski resort operator.
Stock ValuationThis recommendation has led to a revision of the target price downwards.