zaterdag 7 december 2019

Pierre & Vacances-Center Parcs Group: Full Year 2018/2019 Results

  • Revenue1 from the tourism businesses up 7.2%,
  • Robust growth in current operating profit1 to €30.9 million (vs. €9.8 million in the previous year)
  • Positive pre-tax earnings
  • Net debt down and a high level of liquidity maintained
  • Strategic reflection underway to intensify and accelerate the roll-out of the Group's transformation plan
Opening of Center Parcs Allgau

After an opening period affected by a spate of bad weather, the domain, in operation since October 2018, enjoyed a huge commercial success over the year, with an occupancy rate of 90% in the fourth quarter.

As of 1 October 2018, the Group applies the new revenue recognition standard "IFRS 15 - Revenue from Contracts with Customers". The result of applying this standard is a sharp increase in 2018/2019 revenue, driven primarily by the signing of renovation/disposal operations at Center Parcs, for which the Group is considered as a "principle" under the terms of IFRS 15 (for further details, see the appendix at the end of the press release). 

Net Profit

  • Current operating profit totalled €30.9 million, up sharply relative to the level in the previous year (€9.8 million)
  • Current operating profit from the tourism businesses came in at €29.6 million, an increase of 47% relative to 2017/2018.
  • Current operating profit excluding Villages Nature Paris, totalled €35.1 million up 11%.
Bron en hele artikel: Busienss Wire