- Revenue1 from tourism businesses up 5% over the year
- Property development turnover in line with the phasing of programmes
- Sharp growth in property reservations
1] Revenue
The revenue and financial indicators commented on in this press release stem from operating reporting with the presentation of joint-ventures under proportional consolidation.
Euro millions 2015/ 2014/ Evolutions Accommodation
2016 2015 on a turnover evolution
same-structure excluding stock
basis (*) excluding stock
Accommodation
turnover evolution
excluding stock
excluding stock
Tourism 453.3 431.6 +5.0% +2.3%
- PV Tourisme Europe 233.8 223.4 +4.6% -0.4%
- Center Parcs Europe 219.5 208.2 +5.4% +5.4%
o/w accommodation 290.0 289.9 +0.0` +1.5%
excluding Adagio +1.6% +3.6%
- PPV Tourisme Europe 145.5 151.6 -4.0% -1.4%
excluding Adagio -1.9% +2.3%
- Center Parcs Europe 144.5 138.3 +4.5% +4.5%
Property development 44.4 39.2 +13.2%
Total Q4 497.6 470.8 +5.7% +3.2%
Tourism 1253.4 1180.7 +6.2% +5.0%
- PV Tourisme Europe 609.4 594.5 +2.5% +0.3%
- Center Parcs Europe 644.0 586.2 +9.9% +9.9%
*Adjustment for the impact of the acquisition on 13 April 2016 of "La France du Nord au Sud", a recognised player in the market of online distribution of holiday rentals in France and Spain.
**Adjustment for the impact on accommodation revenue:
- of the net reduction in the portfolio operated in the PVTE division, due to the non-renewal of leases (seaside sites primarily in Q4) and withdrawals from loss-making sites.
- the opening of Domaine Center Parcs du Bois aux Daims (as of July 2015)
Under IFRS standards:
- Revenue for the fourth quarter of 2015/2016 totalled €483.6 million (€445.9 million for the tourism businesses and €37.7 million for the property development businesses) compared with €463.2 million on a same-structure basis in Q4 2014/2015 (€435.5 million for tourism and €27.7 million for property development).
- Full-year 2015/2016 turnover totalled €1,372.6 million (€1,225.8 million for the tourism businesses and €146.8 million for the property businesses), compared with €1,395.6 million on a same-structure basis for 2014/2015 (€1,168.9 million for tourism and €226.7m for property development).
Tourism revenue
In Q4 2015/2016:
Revenue from the tourism businesses rose 5% to €453.3 million (+2.3% on a same-structure basis) relative to Q4 of the previous year, in a backdrop in France significantly affected by terrorist threats and action.
Accommodation turnover rose 1.5% to €290.0 million, adjusted for supply effects and 3.6% excluding Adagio, even though the summer of 2015 was a high reference basis.
Pierre & Vacances Tourisme Europe contributed €145.5 million, up 2.3% excluding supply effects and Adagio. This growth was driven by the healthy performances from seaside destinations (+2.7%), which benefited notably from momentum at the Spanish residences, growth in net average letting rates and high occupancy rates (84%).
With more tourist than business customers over the summer period, Adagio continued to suffer from the backdrop in France (near -10% decline in sales over the brand's entire scope).
Center Parcs Europe contributed €144.5 million, up 4.5%, driven by increased activity at the Domains located in the Netherlands, Germany and Belgium (+6.8%). Net average letting rates rose 6.1% for all of the Domains.
For the full-year 2015/2016:
Revenue from the tourism businesses totalled €1,253.4 million, up 6.2% (+5.0% on a same-structure basis) relative to the previous year.
Bron en hele artikel: businesswire
