Groupe Pierre & Vacances-Center Parcs: 2018/2019 Full-Year Revenue: tourism businesses up 7.2%
Revenue* from the tourism businesses up 7.2% over 2018/2019
Under IFRS accounting:
Q4 2018/2019 revenue totalled €537.7 million (€466.8 million for the tourism activities and €70.9 million for the property development activities).
FY 2018/2019 revenue totalled €1,595.0 million (€1,300.7 million for the tourism activities and €294.3 million for the property development activities).
The Group nevertheless continues to comment on its revenue and the associated financial indicators with the presentation of joint undertakings in proportional integration, in compliance with its operating reporting.
Q4 2018/2019: Revenue from the tourism activities rose 9.2% to €486.3 million compared with Q4 of the previous year.
Accommodation revenue rose +8.6% to €328.3 million, driven by both net average letting rates (+5.9%) and the number of nights sold (+2.5%). The occupancy rate stood at 84% (vs. 82.3% in Q4 2017/2018).
Adjusted for the impact of supply effects, revenue was up 4.2%.
Pierre & Vacances Tourisme Europe contributed €145.0 million, up 0.9%, driven by seaside destinations (+1.1%) and mountain destinations (+2.4%). Revenue from the Adagio residences was stable, after noting that Q4 2017/2018 provided demanding comparison (+7.9% growth in revenue).
Center Parcs Europe contributed €183.4 million, up +7.0%, with higher performances in both France (+9.6% o/w +7.2% for the Center Parcs domains and +28.1% for Villages Nature Paris) and in Belgium, Germany and the Netherlands (+5.7%).
Supplementary income grew by +10.6%, with a rise of +14.7% for Center Parcs Europe and +6.4% for Pierre & Vacances Tourisme Europe.
Full year 2018/2019: Revenue from the tourism activities rose 7.2% to €1,365.1 million compared with the previous year.
Accommodation revenue rose +7.6%, driven by both net average letting rates (+5.1%) and the number of nights sold (+2.4%). Occupancy rates totalled 75% over the full year (vs. 73.6% over 2017/2018).
On a same-structure basis revenue rose 4.5%, ahead of the full-year target of +4% set by the Ambition 2022 strategic plan.
This growth was driven by all destinations: +5.2% at Center Parcs Europe (+3.7% for the Center Parcs domains and +45.7% for Villages Nature Paris), +4.7% for the Adagio residences, +4.7% for the mountain resorts and + 2.2% for coastal resorts (mainland France, French West Indies and Spain).
Supplementary income grew by +6.5%, with a rise of +7.5% for Center Parcs Europe and +5.1% for Pierre & Vacances Tourisme Europe.
Outlook: In view of the portfolio of reservations to date, the Group expects growth in the tourism businesses in Q1 2019/2020, at both Pierre & Vacances Tourisme Europe and Center Parcs Europe.